Coinbase, the leading cryptocurrency exchange in the United States, believes it is crucial to accurately assess the true adoption of blockchain technology beyond current measurements.

In a recent blog post, Coinbase highlights the challenges of tracking blockchain ecosystem adoption as more applications are introduced. Traditional metrics like total transactions and daily active addresses are susceptible to distortion from spam and Sybil attacks, where individuals create multiple fake identities in peer-to-peer networks.

To tackle these challenges, Coinbase suggests using the h-index, originally designed to gauge the productivity and impact of scientific publications. The company has adapted this metric to blockchain technology by monitoring the number of addresses that have received transactions a certain number of times.

Describing the concept, Coinbase explains, “The h-index, initially used in academia to quantify a researcher’s output and influence, counts the number of publications cited at least that same number of times. We have modified this measure to track blockchain network activity by observing the addresses that have received transactions at least the same number of times. For instance, an h-index of 100 indicates that 100 unique receiving addresses have received transactions from at least 100 distinct sending addresses within a specific timeframe.”

According to Coinbase’s analysis using this new metric, Ethereum (ETH) exhibits the highest level of adoption among Ethereum Virtual Machine (EVM)-compatible chains, followed by Base, Arbitrum (ARB), Optimism (OP), Polygon (MATIC), Avalanche (AVAX), and Fantom (FTM). The company’s research suggests that Ethereum and Base have the most widespread user activity, with Arbitrum and Polygon PoS closely trailing behind.

The findings were shared by Coinbase through a report featuring a graph illustrating the adoption levels of various blockchain networks.

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