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Smart Contract Creation Cools in 2019

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Sat, 05/11/2019 - 12:30
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The creation of smart contracts has hit a snag in 2019, according to the most recent Diar report. After more than 4.3 mln smart contracts appeared in Q4 2018, this number dropped by nearly 50 percent in Q1 2019.

Still solid numbers

Looking at the bigger picture, one should note that the Q1 numbers in 2019 (2.2 mln) are still higher than they were a year ago when the cryptocurrency market suddenly crashed. Moreover, it’s higher than the average amount of smart contracts that were created in 2019 (2 mln).

In April, which turned out to be a glorious month for BTC, there were around 950 mln new smart contracts.  

Gas spending increases

The lion’s share of Ethereum-based smart contracts is coded with the help of a programming language that is called Solidity. A certain amount of gas, which is treated as a network fee, is required for each instruction to be executed.

Diar has also analyzed the contribution of gas spent on transfer and smart contracts calls. During the first quarter, 61 percent of gas was attributed to smart contract calls, which is 11 percent higher compared to the previous quarter.

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Security woes

Back in January, Ethereum faced a major vulnerability that would allow bad actors to exploit its smart contracts and steal funds. The security woes were the reason why the Constantinople fork got delayed.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with 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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Gamblers Are Driving Force Behind dApps Growth: 2019 H1 DappReview Report         

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Sun, 07/14/2019 - 15:00
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  • It appears that many cryptocurrency enthusiasts are willing to roll the dice

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The recently published report by DappReview encompasses everything related to the growth of decentralized applications (dApps) in the first half of 2019. When it comes to the most popular category of dApps, gambling ones appear to be in the lead by a big margin.

Upping the ante

The “Casino” category has the biggest chunk of the pie with 606 newly created dApps. For comparison, there are only 398 gaming dApps, which occupy second spot. “High-risk” dApps are trailing behind the gaming ones with 358 newly created apps.  

DappReview explains that the main reason behind their popularity is that they are relatively cheap and easy to create, but, nonetheless, they generate great returns for their developers. 

On top of that, there doesn’t seem to be a shortage of risk-loving crypto enthusiasts. 

dApps are doing just fine

Overall, the report points out that rapid growth has become a new trend in the dApps department. More than 1,114 dApps have been already created this year. Tron boasts the biggest amount of newly created dApps while Ethereum and EOS come in second and third places respectively.

Notably, only one percent of users tried more than ten dApps, but they are responsible for the lion’s share of the total transactions on each of the aforementioned networks.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with 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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