New dApp.com Market Report Shows 3 Of 4 Ethereum Blockchain dApps In Q3 Dealt With Betting And Gaming
Ethereum is one of the largest and most important virtual currency networks in the market. Interested developers and users are able to deploy and create their own decentralized applications on top of the Ethereum (ETH) network. In this way, the network was the second largest during most of the year and it is currently the third most valuable after Bitcoin (BTC) and XRP.
According to a recently released report from Dapp.com, the majority of dApps being deployed on Ethereum are related to the gaming and betting industries.
During the third quarter of the current year, 244 dApps were released on Ethereum. Almost half of them, 110 dApps, are related to the betting industry. At the same time, 66 gaming dApps were released on the network. This means that 78% of the total dApps launched during the third quarter on top of Ethereum were related to the gambling and gaming sectors.
At the same time, the number of dApps that were developed on the network has also registered an increase during the third quarter. In the second quarter were registered 577 new dApps. Now, the total number of applications has gone up to 622.
Although the highest number of dApps created is related to gaming and betting, individuals tend to use more decentralized exchanges (DEX). DEXs account for 49% of the active users. Gaming and betting have together 33% of the users. In terms of transactions, DEXs have 44% of the total transactions on the network while gaming and betting registered 49% of the transactions that take place on Ethereum.
The report says that despite the fact that fewer dApps were launched during the third quarter, there are large companies and teams developing high-quality dApps that have long-term roadmaps and operation goals.
According to dApp Review, the most important dApps on Ethereum were IDEX, ForkDelta, HyperDragons, 333ETH and Etheremon. IDEX had 1,267 daily active users (DAU), ForkDelta 881 DAU, HyperDragons 615 DAU, 333ETH 411 DAU and Etheremon 405 DAU.
Perhaps the most hyped dApp on Ethereum, CryptoKitties, ranks in the seventh position. It has 324 DAU and 3,801 transactions were registered in the last 24 hours.
The report continues analysing EOS, a similar network to Ethereum that aims to be much more simple and with a different governing system.
During the third quarter, EOS registered 66 new dApps, compared to 16 new dApps during the second quarter of the year. This represents an increase of 312%. However, the second quarter was marked by the launching of the network. EOS released its mainnet at the end of the second quarter on June 9.
It is possible to see that betting dApps are also growing faster than other applications. Betting dApps account for 52% of the dApps released during the third quarter. Gaming dApps released represented 12% of the market, while DEXs and Tool account for 14% and 6% of the dApps released on top of EOS respectively.
The report ends explaining that EOS has a very good in-dApp user experience. At the same time, transactions are fast and without gas fees. This is something that is attracting several developers to the space, including betting games. However, EOS faces an issue with the complicated wallet setup. This is dissuading new users not to start using EOS.
An important issue that the report marks is that EOS dApps are not secure. Some of the dApps released are not open sourced and some of them have been hacked several times. Due to smart contract vulnerabilities 370,000 EOS, close to $2 million dollars (at a price of $5.32 USD), were stolen due to smart contract vulnerabilities.
At the time of writing this article, Ethereum is the third largest cryptocurrency and network in the market. It has a market capitalization of $13.78 billion dollars and each ETH coin can be purchased for $133 dollars.
EOS is the 6th largest virtual currency in the market. Each EOS coin can be bought for $3.76 dollars and it has a market capitalization of $3.4 dollars.