Ethereum (ETH) Dapps Still Lead in 2019

By December 19, 2019DApps
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Ethereum (ETH) remains the leading platform for distributed apps, with growth in both the user base and different categories of products, shows the latest DappRadar report overviewing 2019. The report reveals the Ethereum network saw a growth of 118% in its user base, with a growth in daily value transferred at 116%.

“Ethereum is also the only blockchain to-date to successfully grow dapps across the four main categories: DeFi, Exchanges, Games, and Gambling and High-Risk,” DappRadar pointed out.

The EOS network, however, which had set up to outcompete Ethereum, met unexpected congestion. The Enumivo project, which created the idea of simulated mining tokens, is currently running the EIDOS token scheme. The minting of the token caused heavy congestion and severely hampered the usage of EOS for distributed apps.

“The performance of dapps on the EOS blockchain was heavily impacted by congestion arising from the EIDOS token’s network spamming. This resulted in daily user activity declining 48%,” DappRadar stated.

The performance of TRON (TRX) was also underwhelming. After significant growth in the first half of 2019, the network showed most of its activity hinged on gambling dApps. Growth also slowed down significantly in the second half of the year, and TRON could not outperform Ethereum.

Despite the growth of DeFi, it turns out gaming is among the top growth drivers for Ethereum this year. During the summer rally when ETH touched $200, high gas prices decreased users. But games like MyCryptoHeroes added to the yearly growth significantly.

The DeFi sector was relatively young in 2019, but its user base and number of dApps expanded, leading to a 529% growth for this type of dApp.

The Ethereum ecosystem carried $1.8 billion in value in 2019, based on ETH movements. Token movements were also showing a significant source of hidden activity. Accounting for tokens meant the activity of the Ethereum ecosystem carried $7.2 billion in value this year.

ETH is currently at $127.77, attempting a recovery after a deep sell-off to around $123.

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