Ethereum Blockchain Dapps is in Shambles: 86% Dapps have No Users Today
In 2018, Dapps trend emerged in the market and started making the headlines. The 3rd largest cryptocurrency, Ethereum platform dominated the dapp ecosystem last year. But this year, the situation has changed.
The success of Decentralized Applications (Dapps) in 2018 rivaled that of the App store in its earliest days. But according to the latest data, Ethereum has no much part left in this, as of now.
There are now 1375 live ETH dApps.
86% of them had 0 users today.
93% of them had 0 tx volume today.
Across all platforms there are now 1828 live dApps.
77% of them had 0 users today.
85% of them had 0 tx volume today. pic.twitter.com/jUHZYuhPTz
— Kevin Rooke (@kerooke) February 10, 2019
No doubt, dapps have a long way to go, however, out of the total 1812 Ethereum dapps, as per the data provided by StateoftheDapps, transactions are being made on only about 180 of them.
When it comes to the usage of Ethereum Dapps, out of these 180 dapps, only 13 percent has more than 100,000 transactions on a day. While, 200,000 is the maximum registered transactions per day.
Ethereum’s a Hot Mess
Recently, Taylor Monahan of MyCrypto.com shared his concern about Ethereum’s Dapp ecosystem, in an interview stating,
“One of the biggest problems with the Ethereum ecosystem right now is everything is really fragmented — from using Metamask to using a dApp. So if you want to send your CryptoKitties or create a Maker CDP, you go to the specific dApp. Then it’s like it sends this crazy transaction on Metamask. It’s really kind of intimidating and fragmented.”
He further shared that,
“As I’m actually starting to use these protocols more and more, it’s becoming wildly apparent that this is a hot mess.”
Ethereum has been dealing with scaling issue for a long time now and currently working on its Constantinople hard fork coming at the end of this month.
But Others aren’t Perfect as well
Recently at a conference in San Francisco, Vitalik Buterin founder of Ethereum took a jab at Tron by saying,
“When a blockchain project claims ‘We can do 3,500 TPS because we have a different algorithm,’ what we really mean is ‘We are a centralized pile of trash because we only have 7 nodes running the entire thing.”
For its thousands of transactions per second claim, Tron got a lot of heat as recently, former BitTorrent executive Simon Morris revealed,
“The transactional capacity we [were] looking at was needing hundreds of transactions a second just to get started. It’s simply not there. You hear all the bullshit out there, oh, this does 10,000 transactions a second. It’s all crap. We were going to melt TRON.”
The Dapp market has become a playground for crypto enthusiasts to gamble their coins as we reported earlier more than 95 percent dapp activity on Tron and over 70 percent on EOS are from gambling dapps.
Moreover, in comparison to apps like Whatsapp and Telegram, a top ranking dapp DICE that has about 450,000 transactions per day, the Dapps are far from reaching mainstream adoption. The user adoption for now is still slow in the crypto and blockchain space.