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Ethereum [ETH] dApp users drop as EOS and Tron dominate the market

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Ethereum [ETH] dApp users drop as EOS and Tron dominate the market
Source: Pixabay

EOS tops the dApps chart with its PRA CandyBox listing on blockchain dApps website, Dapp Radar. In the list of the most popular dApps on the website, EOS is in competition with Tron’s dApps. However, this finding is not good news for Ethereum [ETH] as it holds only one dApp in the top 30. On the other hand, EOS has 13 of its dApps listed.

Ethereum’s platform has a total of 1,812 dApps against the 323 dApps that EOS has. On the contrary, a recent report suggests that more than 50% of EOS dApps are used per day, while only a mere 10% of the ETH dApps were used daily.

A huge disparity is noted in terms of the volume of transactions per day on the two blockchains. Transactions on the Ethereum network are around 200,000 per day while EOS executes 450,000 transactions per day.

According to charts published by dApp Radar, daily users of the ETH dApps from December 2017 to February 2018 shaped a large volume, rallying above 17000. The numbers fell for a period of three months but continued to maintain a minimum user base of 8500.

The lowest phase recorded for the dApps on Ethereum was registered in July 2018, when the users per day fell below 8000. Gaming is the most popular space on the ETH platform with 1535 users, while gambling, exchanges and marketplaces have 1535, 800 and 162 users respectively.



Besides, another dApp to join the EOS bandwagon is NEO network’s Effect, the popular AI-powered dApp. It was launched on the NEO blockchain in 2017 and will migrate to the EOS decentralized platform soon.

The reason cited by Jesse Eisses, CTO of Effect.AI stated:

“The current implementation of the blockchain can’t get to the promised transaction throughput and the smart contract compilers besides C# are still immature.”





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Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.

Bitcoin

Bitcoin Dominance Index [BDI] falls short of Bletchley Ethereum Token Index [BETI] in 2019

Biraajmaan Tamuly

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Bitcoin Dominance Index [BDI] outperformed by Index based on the Ethereum blockchain in 2019
Source: Pixabay

One of the key factors which is often used to represent or indicate the potential of a particular cryptocurrency’s growth is its market capitalization. When the market capitalization of a coin or token showcases a positive hike, it usually has a positive impact on that particular asset’s market.

According to LongHash, the Bitcoin Dominance Index [BDI], which is used to measure Bitcoin’s market cap had been the dominant index since the beginning of 2019. It was observed that the BDI improved from 53 percent to 58 percent over the past few weeks after the largest crypto-asset underwent multiple price hikes.

XRP, which dominated Bitcoin by 1,600% back in 2017 on cryptocurrency exchange Bittrex in 2017, was currently down by almost 50% against Bitcoin in 2019. Ethereum [ETH] fared better comparatively, but was still down by 14% against the Bitcoin.

However, the Bletchley Ethereum Token, a token built on top of Ethereum, seemed to have outperformed Bitcoin this year.

The Bletchley Ethereum Token Index [BETI] can be utilized by investors for their allocation to tokens placed on top of the Ethereum blockchain. However, it should be noted that Ethereum is not a part of the index as it is an independent entity. The BETI is a weighted index, which means that the tokens with dominant market caps will take up a larger part of the index and the re-balance will take place at the end of a particular month.

For example, Tron [TRX] and Binance Coin [BNB] currently take up more than half of the BETI’s Weighted Index. Since the launch of their DEX, BNB has enjoyed a lucrative year with multiple hikes bringing the coin to $30 from under $6. Tron also witnessed major growth in market cap as it was up by 40% in comparison to the US dollar.



However, it is important to note that the major tokens on the BETI’s weighted index have all launched their own blockchain, at press time. Hence, it can indicate that the dominance enjoyed by BETI over the BDI over the last few months could point to a situation where the Ethereum blockchain was preferred for the launch of various tokens.

Despite the aforementioned reason, it is safe to state that Bitcoin was not the only entity which dominated the crypto-space this year.





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