DappRadar Shows Decentralized Blockchain Apps Activity Growth with 100,000+ Daily Users
We all agree that 2018 was not a good year for digital currencies in terms of price performance.
Some of the have lost more than 95% of their value, while others have directly disappeared. However, there are some projects that continue to grow in their fundamentals and infrastructure.
According to a recent report released by Trustnodes, there are more than 100,000 daily active users od decentralized applications (dApps). EOS currently accounts for most of the daily active users (DAU) with 55,000 individuals transacting around $21 million.
Tron (TRX) is also performing very well. It had the second position in the market with 30,000 DAU that transacted $15 million. Ethereum (ETH) is in the third position with just 10,000 dApp users and transacting around $1.1 million worth of Ether.
It is important to mark that although this data can be inflated it provides a general overview of the cryptocurrency dApp situation at the beginning of 2019. According to Dragos Dunica, the co-founder of DappRadar, explained that the data is gathered by interacting with blockchains using a node that calculates the number of users and the funds transacted.
Each of the projects analysed is different and the results will show these differences. For example, Dai or Agur are difficult applications do track accurately. The contracts that are tracked do not necessarily reflect the real activity of these platforms. Meanwhile, other projects require custom integration according to their specifications.
Danica has also explained that they try not to count bots on these platforms. Nevertheless, this is not something easy to do. On the matter, he commented:
“We have our own algorithms that are tracking the activity of the dApps and based on specific metrics we can have alerts and then take measures in ignoring the specific addresses that were market as bots or stop tracking the contract entirely if it was created on purpose by the developer to inflate the numbers.”
Tron and EOS might be good for gambling dApps. EOS has a more centralized structure, thus, helping users pay lower fees every single time they process a transaction. The more decentralized the network, the more difficult it is to offer lower fees.
Although decentralized applications have a lot of space to keep growing, they’ve shown to be useful in some cases. There are several games that are being used by thousands of individuals around the world. Nevertheless, the crypto market is waiting for a killer dApp that will be massively used by people.
Ethereum, EOS and Tron are competing for a market that could experience an important growth during the next bull run. Now, Ethereum is the third largest digital currency in the market, while EOS and Tron are the 5th and the 9th digital assets in the market according to CoinMarketCap.