Many people would assume that Ethereum is one of the most widely used blockchain platforms for d’App development based on how much media coverage it receives. However, it has come out that only 3 of the top 50 d’Apps are based on the Ethereum blockchain.
This information is courtesy of dappRadar, who noted that a majority of developers tend to favor other platforms such as EOS and TRON. To give a better idea of the situation, out of the top 50 d’Apps, 26 are based on EOS and 21 on TRON while only 3 are based on Ethereum.
The major reason that has been attributed to Ethereum’s underwhelming presence in the d’App market is its scaling problems which its CEO, Vitalik Buterin, has addressed. According to him, Ethereum is in the process of fixing its scaling problem but until they do, developers can’t expect much from the platform.
This problem has driven developers to other platforms such as EOS and TRON, which have managed to claim the d’App market, including 94 percent of the monetary transactions that take place through d’Apps.
How Ethereum could claim a larger chunk of the d’App market than the 6 percent it currently has isn’t known for the time being.
Another factor that contributes to Ethereum’s present situation is the fact that compared to other blockchain platforms, they have a significantly lower number of transactions per second.
As of now, the Ethereum platform can perform between 15 and 20 transactions per second. In contrast, EOS can reportedly perform up to 4,000 transactions per second and TRON can perform up to 2,000 transactions per second.
Vitalik Buterin has, however, said in the past that boasting about a blockchain’s transactions per second is not an indicator of its value and seemed to take a dig at Ethereum competitors while urging developers to focus on other factors.
“The purpose of a consensus algorithm is not to make a blockchain fast,” Buterin said recently. “The purpose of a consensus algorithm is to keep a blockchain safe. When a blockchain project claims ‘We can do 3,500 transactions per second because we have a different algorithm,’ what we really mean is ‘We are a centralized pile of trash because we only have 7 nodes running the entire thing.'”
It will be interesting to see how the d’App market divides itself once Ethereum can fix its scaling problems.
Many people would assume that Ethereum is one of the most widely used blockchain platforms for d’App development based on […]
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