Connect with us
Active Currencies 13540
Market Cap $2,753,903,280,171.10
Bitcoin Share 49.82%
24h Market Cap Change $-0.78

Ethereum DApps recorded 900% increase in active users in 2019

3min Read

Share this article

In Dapp.com‘s recently published annual DApp report for 2019, the team went on to analyze the market performance of DApps on Ethereum, TRON, EOS, and more. The report also compared it to its performance in 2018, claiming that the total volume, in terms of native tokens from the “9 leading blockchains,” reached over $10 billion in 2019, a 58.5% increase from 2018.

The report also addressed how more than 3.26 billion transactions took place on these blockchains over the year. Of these, EIDOS alone contributed nearly 2.4 billion transactions, with the other 2216 active DApps having generated 872 million transactions in 2019. The number of active DApp users also doubled in 2019 to 3.11 million users from just 1.48 million in 2018. The report also claimed that over 2.77 million new users experienced decentralized apps in 2019, noting that user retention is still a problem for DApps.

“There are only 348K old users remaining active in 2019, accounting for 11% of all active users.”

The Dapp.com report also expanded on how financial services saw the most impressive user growth in 2019 among the categories, marking a 610% increase in users and a 251% rise in transaction volume over the year. The number of gambling users were also reported to have increased by 372%, which brought in a 100% increase in volume.

Further, the investment hype for DApp games has weakened, the report claimed. Despite a 162% increase in the number of blockchain gaming users, volumes dropped by 60% last year, compared to 2018. Additionally, the report pointed out that there were a total of 1445 new DApps launched on the six largest smart contract platforms, of which, 690 were Ethereum-based and 411 were built on TRON.

“The amount of active Dapp users for Ethereum and TRON has also started to form a sharp gap with EOS.”

EOS DApps were reported to have generated a volume of ~$5 billion over the year, accounting for nearly 50% of the total volume, surpassing Ethereum and TRON to the top spot in 2019. Subsequently, the report explained that of the 1.4 million active Ethereum DApp users in 2019, only ~10% of them had been active the year before. 

Interestingly, only 2% of the nearly 1 million active TRON DApps users had been using the platform before 2019, marking the greatest growth in new users among the top six blockchains. In contrast, EOS’s old users accounted for 23% of the total active users in 2019. EOS DApps were reported to have seen the highest activity among all platforms, with 97% of the 493 active DApps being used actively. Steem Dapps saw the second-highest activity over the year at 87%, and Ethereum and Neo saw the lowest activity at 62%.

EOS had also been in the lead for the most number of active users until November 2019, after which the average number of daily users fell by more than 80%, allowing TRON to rise to the top spot.

“Gambling dapp is the only type of application that has over 1 million new users, which is more than the total amount of dapp users on Ethereum in 2018.”

Of the different kinds of decentralized applications, gambling and high-risk DApps were reported to have been the most popular for developers in 2019, with over 900 apps launched alongside the growth of 1.1 million new users. However, high-risk DApps also reeled in the lowest user retention rate, with only 2% of its users from 2018 continuing to participate the next year. 

Share

Manu is a full-time journalist at AMBCrypto covering the US and Indian markets. A graduate in engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.