According to many crypto enthusiasts, dapps are considered to be the future of blockchain and Ethereum had held the top spot for quite some time with 1,239 ETH dapps. But with rising scalability problems of Ethereum and increasing competition from other projects like Tron and EOS, Ethereum top position looks in danger. Even though a lot of companies still prefer Ethereum’s ecosystem due to its proven track record, recent data points show Ethereum might be losing out soon.
11 new dapps added to Ethereum but daily transaction volume of top apps drops
According to the recent data sourced from Dappradar, Ethereum has added 11 new dapps on its blockchain. Five of these new apps are categorized as high risk while three of them find a place under the gambling category. Out of these 11, 5 of these Dapps have begun an active transaction on the blockchain while the rest of them are pretty dormant and are yet to see some major transactions.
While new addition of Dapps on Ethereum shows that ETH blockchain is still the most preferred platform to host dapps, the problem of scalability and network congestion continues to trouble Ethereum.
These technical issues have forced many companies to choose, the newer kids on the block, EOS and Tron MainNets to host their Dapps. EOS currently has 179 EOS dapps on its blockchain while Tron is pretty nascent with only 14 Dapps. Both this platform currently does not face any technical issues similar to Ethereum and are currently flawless in their performance, which makes them an attractive destination for companies that are planning to launch their dapps.
Also, with respect to the transactions of the top three apps on each MainNet (Ethereum, EOS, and TronEthereum seem to be struggling. According to a recent tweet put forward by Twitter user Kevin Rooke, Ethereum’s top three apps had lesser number of users and also had far less daily transaction volumes.
Ethereum will have to soon find solutions for its issues related to scalability and recapitalize on its popularity so that it can stay in the race for Dapp ecosystem or in no time Tron and EOS will move ahead.
Will Ethereum be able to regain the lost ground and sustain its number one position in the battle of Dapp supremacy? Do let us know your views on the same.
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Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.