NEO Dapp Activity Is Overtaken By Smaller Networks: Why?

NEO dapp activity seems to be overtaken by some smaller networks since the blockchain is underperforming in the realm of decentralized apps as we are reading further in the Neo Coin news.

After pumping in value along with other ‘Chinese’ coins over the past few weeks, NEO got back into the top 20 coins position by market capitalization and is currently trading at $10.7 which is an increase by 42 percent in a month. However, the smart economy blockchain is losing the dapp race to other platforms.

Ethereum is still the leader dapp platform with a number of applications followed by EOS and TRON. The less popular options include IOST, Vechain, Ontology and Loom Network. The list below also excludes other popular dapps such as Steem which reportedly has about 90 dapps as well as less popular Tomochain and POA.

NEO dapp activity is seemingly low and when asked by is this happening, there was no answer from the platform itself but in a recent interview, it seems as the dapps are not the main focus of the platform now. NEO’s head of Development John DeVadoss explained that the vision of the platform is to develop a comprehensive full-stack for developers which is what the upcoming NEO 3.0 is all about:

 “What I see is they’re looking for this ideal dapp, the sort of mythical, elusive, “unicorn” dapp. They say: “Oh yeah, once we get the dapp we will get adoption.” But that’s not how it works. There’s no mythical dapp. They are completely wrong. The way adoption works is you enable millions of developers, and when you do so, a thousand flowers will bloom, and among those flowers, there will be many dapps that will drive adoption and more importantly usage.”

During the recent Reddit AMA session, the co-founders of NEO Da Hongfei and Erik Zhang stated that there are a thousand of games and decentralized finance applications that are a priority for the stablecoin and exchange as well. When answering a question about attracting more attention with more developers and useful dapps, Hongfei stated that the number of dapps does not matter:

“NEO doesn’t encourage gambling applications which counts the majority of the numbers on other blockchains. As the digital asset protocol, NEO has a high priority on enabling applications such as collateral-based stablecoin and non-custodial exchange. There are two working non-custodial exchanges now but we lack a well-received stablecoin comparable to DAI on Ethereum.”