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No Dice: Ethereum Loses dApps Race to EOS and Tron

  • Alex Dovbnya
    📊‍ Infographics

    Ethereum has already lost the majority of its market share in the dApps department to the two rivaling networks that offer considerably better speed   
     

No Dice: Ethereum Loses dApps Race to EOS and Tron
Cover image via u.today
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With such innovative features as smart contracts and decentralized applications (dApps), Ethereum took the market by the storm, and many predicted that it would surpass Bitcoin at one point. However, the O.G. coin is losing its luster with EOS and Tron winning the dApps race.  

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Tron Exceeds 2.3 Mln Accounts, DApp Number Hits 246: Tron Weekly Report

Tron Exceeds 2.3 Mln Accounts, DApp Number Hits 246: Tron Weekly Report

Lean times for Ethereum

The report, which was revealed exclusively to U.Today by analytics firm Dapp Review, vividly shows that that the total volume of Ethereum dApps is sitting at $256.31 mln while EOS and Tron boast $1.72 bln and $1.64 bln worth of transactions respectively. The two networks that are branded as Ethereum killers also greatly outperform Ethereum when it comes to the total number of transactions.

The graph below shows that the number of daily dApp users on the Ethereum network plateaued throughout the first quarter. Meanwhile, both EOS and Tron experienced incremental growth in that department.

No Dice: Ethereum Loses dApps Race to EOS and Tron       

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10 Best DApps On Ethereum

10 Best DApps On Ethereum

Gamblers are to blame

As reported by U.Today, the exodus of gamblers, who were deterred by high network fees and the speed of transaction.  is one of the main reasons why Ethereum is hitting a snag. DappRadar has discovered that 72 percent of all dApps that are run on EOS and Tron are related to two categories – gambling and high-risk. For comparison, Ethereum, which used to dominate this niche, only has 8 percent of dApps that can fit into the two aforementioned categories.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Telegram to Ask Court Not to Classify Gram Tokens as Securities During February Hearing: Details

  • Alex Dovbnya
    📰 News

    The February court hearing is expected to put an end to the legal battle between Telegram and the SEC by determining whether Grams are securities

Telegram to Ask Court Not to Classify Gram Tokens as Securities During February Hearing: Details
Cover image via www.123rf.com

Telegram will ask the court rule against classifying their Gram tokens as securities during the upcoming February hearing, according to a letter to TON investors that was obtained by U.Today. 

As reported by U.Today, Telegram was slated to voice its arguments against the US Securities and Exchange Commission (SEC) on Oct. 24. However, a new court filing shows that the hearing has been postponed to Feb. 18-19, 2020.

IT IS ORDERED that Defendants shall not offer, sell, deliver, or distribute “Grams” toany person or entity, until the conclusion of the hearing scheduled by the Court for February 18and 19, 2020 (“Hearing”), except upon further order of the Court or agreement of the parties.

The Telegram team states that the hearing that is scheduled to take place in February is fundamentally different from the one that was supposed to happen in October. Telegram expected the court to put an end to the ongoing dispute by ruling on the "core arguments" that their Gram token is not a security. 

The October 24 hearing, in contrast, was only to consider whether a delay should have been mandated, without conclusively resolving the core argument. 

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On Oct. 17, Telegram filed a response to the SEC where it states that its native token "will merely be a currency or a commodity." One day later, the regulatory watchdog asked the court not to reject its request for a preliminary injunction against the Pavel Durov-helmed company, adding that its argument about Grams not being securities wasn't convincing.

Telegram will make sure that its position is presented "as strongly as possible" during the forthcoming hearing. 

The Telegram Open Network (TON) was scheduled to go live by Oct. 31 (otherwise, Telegram would have to return money to its investors). However, the SEC sued the messaging giant for allegedly running an unregistered ICO, which forced the company to delay the launch of its network to Apr. 30, 2020 while trying to cut a deal with its investors. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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