The number of developers that are currently working on building dApps, seems to be on a bullish cycle despite the crypto market being in a prolonged bearish cycle. Most of the developers are drawn to Ethereum however there is little adoption so far. We are about to find out why in today’s ethereum news.
The research firm Longhash found out that only 10 percent of the dApps built on the Ethereum platform have any active usage and there are a total of 1812 Ethereum dApps with only 180 of them had ERC20 transactions.
Other research papers show that only 3 out of the top 50 dApps are built on Ethereum but other 47 are build on EOS and 21 on Tron. The main reason why EOS and TRON are leading in usage is that of Ethereum scaling issues. Both of the networks are able to process 2000-4000 transactions per second while Ethereum is only able to handle about 20 per second.
However, Vitalik believes that projects such as EOS and TRON are a centralized pile of trash by saying:
“When a blockchain project claims ‘We can do 3,500 TPS 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.”
Only looking at the daily active users doesn’t mean that you will always get the right perception or result. In open finance based dApps such as Dharma, daily active users are not the main thing it counts but the amount of financial activity that happens daily is what matters.
The most successful dApp on Ethereum is Maker DAO so far.
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