According to new cryptocurrency research by Kevin Rooke, a crypto professional in the field, Ethereum and EOS together have a combined eight decentralized applications (dApps) with more than 300 active users.
However, both Ethereum and EOS have multi-billion dollar market valuations. Ethereum has a $28 billion valuation, while EOS is valued at $4.6 billion.
Last year, the founder and former Goldman Sachs trader Fred Ehrsam stated that Ethereum would need to scale 100-fold in order to handle the large-scale dApps on its network with million of active users.
Combining this with Visa’s 880 million credit cards in circulation and the few hundred million active users worldwide, Ethereum and EOS are looking at a bright future – especially when it comes to processing the tens of thousands of transactions per second.
On top of this, the co-creator of Ethereum, Vitalik Buterin, said that the second-layer scaling solutions like Plasma and Sharding will increase the daily capacity of the Ethereum network – potentially to million transactions per second.
However, there is a lack of activity in dApps on both Ethereum and EOS – mostly pertaining to the difficulty in scaling public blockchain networks and the user interface which is still relatively new to the vast majority of consumers.
In the near future, developers must find a way to make dApps easy to use as centralized platforms – and incentivize users to switch from centralized alternatives to dApps.
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