Trading, Gambling Drive DApp Usage in 2018: Dapp.com Report
The distributed app (dApp) market expanded in 2018 although the number of users remained relatively low.
The distributed app (dApp) market enjoyed a measure of success in 2018 as new use cases for blockchain technology slowly gained traction. Based on data collected by Dapp.com, the first half of the year saw decentralized exchanges snatch the bulk of revenues amid strong demand for trading. Later in 2018, however, gambling dApps on all platforms started to outperform, drawing in the largest number of users.
“Betting dapps took over the dominating role in the market since Q4 last year. There was a total transaction volume of almost $3 billion in Q4, almost 44% of the total volume in 2018. Betting has become the “killer apps” on blockchain due to proven fairness. The booming betting dapp market was mainly contributed by EOS and TRON, the two high-speed DPoS blockchains built for decentralized apps,” Dapp.com noted in its annual report on the state of dApps.
Dapp.com focused on the leading platforms to emerge in the past year. DApps still show only a handful of users for some of the games or schemes, while even the best dApps have a few thousand users per day. But in recent months, total transactions and revenues point to this becoming a relatively robust market.
Ethereum (ETH) still had a first-mover advantage, but with around 700,000 transactions in 24 hours, the network is slower compared to the new generation of distributed ecosystems. EOS and TRON (TRX) have taken a different approach, managing to quickly gain speed based on the capabilities of a delegated proof-of-take (DpoS) system. EOS has seen above 45 million transactions in 24 hours, which can only be verified by a selection of block producers with unhampered communication. Fully decentralized networks take much longer to synchronize all nodes.
“EOS has become the largest blockchain in terms of transaction amounts and transaction volume within two quarters in 2018. 97% of transactions were from gambling, and 75% of transactions volume was contributed by betting games,” Dapp.com stated.
While EOS was the fastest network, TRON was the most ambitious project, investing actively in the promotion of its dApp ecosystem. There are reports that some Ethereum-based dApp producers have switched to the TRON network, including the Ether Goo and various farm dApps.
Steem, the EOS predecessor network, also has an internal dApp ecosystem, which benefits from the relatively large user base of the blockchain-based social media platform. It also uses DPoS to verify blocks with immense speed.