More than 1,000 decentralized applications (DApps) have been and deployed onto the Ethereum network since 2017, according to analytics startup Alethio.
Alethio’s Christian Crowley shared this data at “ConsenSys Community Day,” which was held this week at the Tel Aviv Stock Exchange and reported on by Finance Magnates.
Crowley, whose company is building a real-time Ethereum analytics platform, said that more than 1,090 DApps have been developed for Ethereum since the beginning of 2017, though some have not yet gone live on the network.
Though not exclusive to Ethereum, the blockchain project helped pioneer the ability for developers to use smart contracts to create and run “unstoppable applications” that can operate without the need for a third-party intermediary. However, as CCN has reported, Ethereum has yet to find its “killer DApp.”
Data from DappRadar indicates that just two DApps — IDEX and ForkDelta — have managed to accrue more than 1,000 daily active users (DAU). Both of these DApps are decentralized exchanges (DEX), which allow users to trade ERC-20 tokens without placing their funds in an exchange-controlled wallet.
The most well-known DApp, CryptoKitties, has just 536 DAUs. Nevertheless, the project managed to achieve a $12 million Series A funding round, largely because VCs are bullish that digital collectibles will prove to be one of blockchain technology’s first consumer use cases to achieve widespread adoption.
Altogether, the more than 500 DApps tracked by DappRadar have a combined active user base of about 12,000.
Crowley also noted that developers deployed more than 700 tokens on Ethereum last year, highlighting the emergence of initial coin offerings (ICOs) as a way for startups to raise capital apart from traditional methods. ICOs have collectively raised billions of dollars over the past two years, including one — EOS — that is on track to raise $4.2 billion before the end of its year-long crowdsale and another — Telegram — that raised $1.7 billion without even opening its sale to the public.
Featured Image from ShutterstockFollow us on Telegram or subscribe to our newsletter here.
• Join CCN's crypto community for $9.99 per month, click here.
• Want exclusive analysis and crypto insights from Hacked.com? Click here.
• Open Positions at CCN: Full Time and Part Time Journalists Wanted.