High-Risk and Gambling dApps are Dominating on TRON, EOS blockchains
Ever since Ethereum emerged and shifted the developers' attention from cryptocurrencies to the blockchain, there has been an endless war among other similar projects. They all battle each other, hoping to gain the attention of dApp developers and bring them under their fold.
While Ethereum may have been the first one to do so, it is certainly not the only one these days, as competitors like EOS, TRON, NEO, and even Cardano all seek to attract more developers and make their own platforms dominant. Furthermore, they all have their own visions of what this technology should be like, and the community has started defining the success of each platform based on how many dApps they have, and how popular these apps are.
Among the many, many different types of dApps, gambling apps seem to be attracting the most attention. This is where EOS and TRON took the lead, and it was noticed by TheNextWeb's David Canellis that high numbers of gamblers are massively leaving Ethereum dApps.
According by TNW, dApp activity and usage across the three most popular dApp-developing blockchains — Ethereum, EOS, and TRON — Ethereum gamblers have seemingly found that the other two projects have a more attractive offer.
According to TNW, back in late January, only 2% of all Ethereum's transaction volume came from gambling dApps. On the other hand, EOS' transaction volume coming from gambling dApps was a massive 70%. However, even this is nowhere near TRON, which had as much as 95% of its transaction volume coming from online betting.
Among the 25 most popular Ethereum dApps, only two appear to be gambling-related, while more than half are gaming apps. As for the rest, about one-quarter is related to trading and converting coins and tokens, while two are categorized as ‘marketplaces.' These two act pretty much as auction houses for ERC-20 tokens.
EOS And TRON Gambling And ‘High Risk' dApps On The Rise
The situation is entirely different if we take a look at EOS and TRON dAPPs, with most of them being labeled either as ‘high risk' or ‘gambling.' TRON's top 25 dApps have only seven applications that are not related to gambling or labeled as ‘high risk.' Only two of these seven dApps are gaming apps, while others are a token exchange and conversion-related.
Further, when it comes to high-risk apps, TNW HardFork warns that everyone should do their own research and make a careful decision whether to invest in them or not. They point out what is typically the best rule when it comes to crypto-related investments — if it sounds too good to be true, it usually isn't.
However, while the situation on TRON network might seem bad, it is seemingly even worse on the EOS network, where 17 of the top 25 dApps are gambling-related, two are games, two are exchange/conversion dApps, and only one is high-risk. In other words, around 72% of top EOS dApps are gambling or high-risk, while barely 28% are dedicated to other purposes.
The rise of gambling in the crypto space is starting to be an issue — one which will have to be discussed sooner or later. When it comes to Ethereum, the network uses PoW which attaches fees to transactions, which are later used for rewarding network participants and prevent spam transactions.
Meanwhile, EOS uses DPoS to come to a consensus, which means that there are no transaction fees. This basically means that EOS transactions are free, which is why those making large numbers of transactions via gambling dApps choose to move to EOS for betting. This is also a reason why dApp developers move to EOS as well, as this is the place where their dApps are most likely to succeed and see a large amount of usage.
Despite this, EOS got praised by Weiss Ratings earlier this week, as the best performing network with the highest amount of transactions processed. It is supposedly 14 times faster than Bitcoin, as well as eight times faster than Ethereum.