cryptodailytrading.com

DApps Get Hardly Any Users Compared to Telegram, WhatsApp, Efforts to Increase TPS Are Useless: Report

  • Yuri Molchan
    📰 News

    Research by zkSystems reveals that out of nearly 2,000 Ethereum dApps only about ten percent showed active ERC20 token transactions


DApps Get Hardly Any Users Compared to Telegram, WhatsApp, Efforts to Increase TPS Are Useless: Report
You may also like:
Contents

Based on the data by stateofthedapps.com, the CEO of zkSystems concludes that only 10 percent of all ETH-powered dApps are used for financial transactions and have regular active users at all.

180 ETH-dApps are actually used

The research was conducted regarding 1812 ETH dApps on stateofthedapps.com. The brief research made it clear that ERC20 transactions take place on only 180 of them, which is about 10 percent. The particular date when the data was checked is February 1, 2019.


The CEO of zkSystems, Diana Rees, believes that these poor results are a fine demonstration of how far the world still is from a massive adoption of blockchain and dApps in particular.

Also, 100 Ethereum apps out of the 180 aforementioned ones were analyzed to see how frequently transactions take place. The outcome is that only 13 percent of those decentralized apps pass through over 100,000 transactions on a daily basis. The biggest amount of those transactions does not exceed 200,000.

👉MUST READ Tron Teams up with 0xGames to Launch Their 0xWarriors DApp Game
Tron Teams up with 0xGames to Launch Their 0xWarriors DApp Game

ETH-dApps are the least popular

Still, dApps on the whole are far from being widely adopted, not only those on Ethereum. 8 out of the top 50 ones are built and run on ETH. DICE, operated by EOS, has nearly 500,000 financial operations per day.

Almost all dApps in the top-ten on the DappRadar website with large amount of cash flow are run on Tron. However, the number of active users per day is nothing compared to popular chat apps like Telegram or WhatsApp, says the research.

The sad point is that despite the hard efforts of platforms like Tron, EOS or others that are achieving thousands of transactions per second, the research points out that in reality, perhaps dApps do not need so many of them, since there are hardly any actual users.

Subscribe to U.Today on Twitter,and get involved in all top daily crypto news, stories and price predictions!
👓 Recommended articles

Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
You may also like:
Contents

It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

👉MUST READ Bitcoin’s Price Rally Was Accurately Predicted by Anonymous 4chan Poster. $16,000 in October?
Bitcoin’s Price Rally Was Accurately Predicted by Anonymous 4chan Poster. $16,000 in October?

Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

👉MUST READ This Is the Happiest Bitcoin Investors Have Been Since 2016: Tom Lee
This Is the Happiest Bitcoin Investors Have Been Since 2016: Tom Lee

Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

'Bitcoin symbol and graph.Vector illustration.' image by 123rf https://ru.123rf.com/photo_69329295_bitcoin-symbol-and-graph-vector-illustration-.html?term=bitcoin&vti=njv6v7w01tymanucm1-1-82
In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.
👓 Recommended articles