Ethereum (ETH) Remains Biggest Gainer of Dapps in 2019
The coin has received criticism, but managed to grow its dApp ecosystem in 2019 in all major categories.
Ethereum (ETH) saw the strongest growth in its distributed app ecosystem, breaking the expectations that other projects would displace it. It turned out the primacy of Ethereum was not so easy to dispute, and novel networks promising better and cheaper computation were actually empty, hosting almost no dApps.
Ethereum showed growth in all dApp categories, including gaming, gambling, collectibles, and decentralized finance (DeFi). Ethereum also revealed significant dApp volumes based on token usage, expanding the economy.
Networks like Tezos show almost no activity, as well as other alternative platforms that claimed to be “Ethereum killers”. EOS and TRON, on the other hand, saw their dApp activity diminished by the appearance of simulated mining.
Dapp usage may also be limited by large, centralized app storefronts, as Google and Apple may be reassessing their approach to carrying crypto-related mobile apps.
The biggest threat for the Ethereum network will be the activity of HEX. The project still claims to be gathering ETH, while distributing HEX tokens. The scheme may lead to loss of credibility, and subsequently to ETH dumping.
The biggest challenge for Ethereum would be completing its upcoming hard forks, and eventually switching to ETH 2.0. The next network update, though small and relatively straightforward, comes this January 1. The network will push back the difficulty increase, to allow mining to continue at a more regular pace.
ETH market prices will also face challenges in 2019. Recent analysis shows the coin can be weighed down by multiple “whale” wallets, if they decide to sell. DeFi is also a chance to slowly phase off ETH assets.
ETH traded at $133.81, after a relatively robust recovery and a bounce from lows around $125. But ETH has failed the predictions for a more significant rally.