Did you know that evolutionary application blockchain platforms Ethereum and the now recent EOS combined have only 8 decentralised applications (dApps) with more than 300 daily active users?
Kevin Rooke, an experienced cryptocurrency researcher, has confirmed the statistics through a Tweet.
dApps with more than 300 daily active users…
Most popular dApp by weekly tx volume…
EOS: EOS Bet ($18.1M)
Ethereum: IDEX ($7.3M)
Grab your popcorn folks, we’ve got another crypto clash unfolding 🍿 pic.twitter.com/wBSZYjkd0C
— Kevin Rooke (@kerooke) August 27, 2018
According to the tweet, Ethereum has five dApps while Eos has only three dApps with more than 300 users. The statistics are beyond shocking given the valuation of Ethereum which is $28 billion and EOS which is at $4.6 billion!
When asked to explain his source by a Twitter user called ‘Javier Bastardo’ he confirmed it was Dappradar.
Sir, I think this is legit but i have to ask for your source. Dappraddar maybe?
— Javier Bastardo (@criptobastardo) August 27, 2018
DappRadar provides information and insights on all existing dApps. It includes Ethereum dApps information and recently added EOS dApps too.
DApps can be defined as distributed internet applications which run on a decentralised P2P network and whose code is publicly open for others to access and customise. Peers in the network of the dApps can be any single computer which is connected to the internet. Some advantages of dApps include no single point of failure, no internet censorship and an enhanced trust against data theft as no single entity owns the application.
The main problem with dApps is the scalability issue, especially with Ethereum which does only 7.3 transactions per second (TPS) (maximum is around 20-25 TPS) according to etherscan. However, it is not only scalability issues that cause issues for dApps to become widely popular, given the instance of EOS’s transactions per second which had a record number of 3,590 TPS.
The other main problem is the user interface with the additional factor of dApps being a fairly new concept to digital consumers.
Reddit user ‘Trev_Holland’ replied to the news with a statement about how dApps are not needed, and that cryptocurrencies themselves can solve the problem.
“In general, as the world of the Internet stands right now, there are very few actual reasons to run an app on a blockchain. Sure, it’s cool to hear about a wikipedia-like site, or facebook-like site that runs on the blockchain, but there’s no real necessity for them to run on one. Wikipedia works just fine being on the regular ol’ capital-I Internet.
I think blockchain technology has a place in the world, and I think that place is growing every day. But I just don’t see a huge need for dApps right now. At least not for things the general public would need.”
What do you think? Will there be any need for these dApps to become more popular in the future? If so, then how long into the future would you estimate? Leave us a comment below.