According to a report from Dapp.com, dApps had about 1.5 million users over the course of 2018, the first full year they were measured. The most active dApp category across platforms was gaming, followed by betting. Of the 1.5 million total users of dApps across platforms, nearly 800,000 were on Ethereum. The Ethereum dApp ecosystem broke down like so:
Decentralized exchanges accounted for the most users of dApps. Crypto trading is unsurprisingly the first major killer use case for decentralized applications. However, the volume transacted on decentralized exchanges is still dwarfed by volume at centralized exchanges. It’s only a matter of time before a truly usable option emerges which everyday traders and institutions feel comfortable on.
Although Ethereum has the most users and widest variety of dApps, actual usage of Ethereum programs was less in terms of transactions than other platforms like newcomer Tron.
According to the dApp.com report:
TRON is the most ambitious in the dapp field, with a $2 billion Project Genesis launched in the second half of the year. In addition, it spends $100 million on TronArcade to promote its dapp ecosystem.
Tron launched 97 decentralized applications in 2018. Its ecosystem and community are growing at an alarming rate if you’re an Ethereum maximalist. It quickly went from an idea to a top 10 cryptocurrency. This week it was added to OKCoin, one of the largest US exchanges, to be traded against fiat, Bitcoin, and Ethereum.
The report says that the EOS ecosystem is growing slower than Tron’s. Nevertheless, EOS processes the most transactions. These metrics are interesting – Ethereum has the most choice but least usage in terms of transactions. Tron is the fastest growing but not the most used. Development is slower in EOS, but it sees the most actual usage.
EOS has become the public blockchain with the largest trading volume and number of transaction in less than half a year. Gambling has contributed 97% of the transactions and 75% of the trading volume. Similarly, Tron is also a very active public chain with hundreds of prosperous gambling dapps, with 98% of the transactions coming from gambling.
The biggest use of cryptocurrency and dApps remains gambling. This has always been the case. Using cryptocurrencies allows for several features that aren’t possible with fiat gambling. Instant deposits and withdrawals are one, but also universal currency settlement. It’s not necessary to convert between fiat currencies in order to gamble on websites. “Provably fair” is a term that is native to blockchain and Bitcoin gambling houses, and decentralized gambling makes it even more so.
The report says that gambling accounted for $3 billion in transactions over the course of 2018 in dApps. While this category only stands to grow as more people and products become associated with the various platforms, other categories like gaming and social media are expected to grow.
Read the full report below.
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Featured image from Shutterstock. Charts by dapp.com.