STEEM, Tron, EOS, and Ethereum decentralized application (DApp) ecosystems have shifted in popularity over 2018. Substantial investments, newfangled technological developments, novel use cases, coupled with faster network speeds have seen these four contenders duke it out in this crypto subsector. In fact, all the aforementioned projects have embarked on strategic approaches to DApp dynamics.
Right now, there is a war of opinions between those that base their analysis of blockchains on their value, and those who are educated in blockchain-speak, most of which see immense potential in decentralized technologies and their potential applications.
For the latter group, reports, such as the one released by DApp.com, has been welcomed. This report, a pseudo-year in review from the blockchain startup, touched on how the aforementioned four platforms have dealt with DApps, and how their long-term prospects look in this budding subsector.
What Bear Market? Decentralized Exchanges Thrived In 2018.
Over 2018, the Dapp market purportedly $6.7 billion worth of crypto transactions. DEX (Decentralized Exchange) platforms quickly became the main contributor to the growth of DApp volumes, with exchange requests amounting to 40% of volumes.
It seems as though 2018’s trading session, rife with volatility and large price swings, was a catalyst behind this DEX growth. Plus, an array of proper DEX platforms went live, sparking consumer interest across the globe.
Per data compiled by DApp Radar, a leading crypto analytics provider, the leading DEX, NewDEX on EOS, has transacted $692k of value in the past 24 hours.
Betting DApps Took Q4 of 2018 By Storm. Thanks, EOS & Tron!
Over Q4 of 2018, due to a lull in the broader cryptocurrency market, with Bitcoin falling from $6,000 to $3,200, the use of exchange-related blockchain programs began to falter. However, betting is one industry that will continue to flourish.
Gambling-related DApps were in full swing, reporting transactions volumes of $3 billion throughout fiscal 2018.
By the end of Q3, the total DApp volume stat stood at around $3.7 billion. Yet, by year’s end, this figure ran up to $6.7 billion, which can primarily be pinned to popular applications on Tron as well as EOS, two supposed Ethereum killers.
Both Delegated Proof of Stake (DPoS) blockchains were specifically designed to facilitate low cost, immutable, decentralized, high-speed, and easy-to-use transactions that allowed gambling applications to not only survive but thrive in crypto’s bear market.
35% of all DApps in operation are purportedly gambling-related.
Ethereum Still Dominates DApp Realm By Sheer Volume
Even though Ethereum has the largest number of DApps in use, smart contract transactions on the network aren’t all too spectacular. There are a number of reasons Etherum have fallen behind. A lack of scalability solutions, which accentuates high fees and low transactional throughout, is a primary reason.
The collapse of the value of ETH, along with investors’ confidence in the asset has also likely hurt this not-so budding ecosystem.
EOS Snags Crown For DApp Transaction Count
Over 2018, EOS purportedly snagged the crown for the higher DApp transaction counts. Functions introduced on the EOS mainnet that assist with account creation, as well as resource lending, have helped the Block.one-backed project make its mark on the broader ecosystem.
Yet, not all is sunshine and rainbows for the project, lauded by Brock Pierce. In fact, EOS has seen the number of its active wallets stagnate in comparison to upstarts like Tron, which activated twice as many wallets as its competitor in EOS.
Tron Throwing Millions At DApp Development
It has become apparent that Tron is willing to stop at nothing to become the creme de la creme of DApp platforms. In fact, during recent months, the Chinese crypto startup has invested heavily in its in-house Dapp ecosystem.
For those who missed the memo, Tron utilizes Super Representatives (SR) Masternodes as block producers. SRs are effectively the backbone of TRON’s ecosystem. With the lion’s share of Tron developers dedicated to SRs being gaming developers, 2019 may become an interesting year, as blockchain gaming may quickly take over Tron’s swelling ecosystem.
Steem(it) Secures Most Active Wallets Title
The suite of DApps on Steemit, a blockchain platform focused on social interaction, has seen solid growth in 2018. Dtube, Steem’s version of YouTube and has become incredibly popular. The blockchain upstart also recently activated an attractive rewards system for its users.
These two DApps, along with many others, have allowed Steem to see its wallet counts swell by 44%.
Will 2019 Be Another Successful Year For Dapps?
In my eyes, the idea of blockchain technologies has always been centered on enticing developers to create enticing frameworks for decentralized ecosystems, each of which should be unique. In the DApps market, this is happening.
Unfortunately (in the eyes of some), Ethereum is no longer the DApp king, and it’s safe to say that a new era is approaching. It could be that throughout 2019, the Facebook’s and Google’s of blockchain will begin to emerge. And they may be the ones to push for a narrative that will bolster cryptocurrencies over the long haul.