Binance Acquires Analytics Startup Dapp Review
Binance is expanding its business with side services, this time taking up dApp activity analysis.
Binance continues on its acquisition spree of crypto-based startups. The latest acquisition was Dapp Review, an analytics company looking at network activity, token usage and the adoption of distributed apps.
The capacity of Dapp Review to track more than 3,900 dApps on 13 public blockchains is also a tool for popularization. Listing the dApp on the preview allows for developer teams to build up their presence.
“On-chain applications are still the missing piece for mass blockchain adoption. The DappReview team has shown its commitment to dapps and strong execution in building a leading global dapps platform within a year of establishment. Binance and DappReview share a mutual goal of driving blockchain applications,” said Binance CFO Wei Zhou.
Dapp Review also tracks the vibrant crypto space for Chinese startups and platforms. The previews and statistics also boosted the popularity of TRON and its dApps and tokens. After the acquisition, Dapp Review will remain independent in its technical development, and use the funds provided by Binance to further its development. Binance will assist the firm with marketing and popularization.
The performance of dApps varies depending on the network used. The Ethereum network is still at the lead due to its head start, but TRON remains the fastest grower. The EOS network is facing problems due to the EIDOS mining process, which consumed resources and pushed users out of dApps.
The TRON network also popularizes Chinese developer teams, and for now mostly hosts highly used gambling dApps.
Binance has become instrumental to adopting multiple crypto projects. The exchange will now offer zero-fee Tezos (XTZ) staking, potentially increasing the coin’s trading.
The staking rewards mean even traders that want to sell can choose to also receive rewards while their coins are inactive.
Binance Coin (BNB) remained one of the top gainers in 2019, keeping its level around $15.12, and peaking above $34 during the sumer rally for all assets.