[ad_1]
Ethereum is the number one blockchain platform for implementing smart contracts, creating tokens and launching dApps. Many of the most important cryptocurrencies are ERC-20 tokens that work on the Ethereum blockchain and these tokens correspond to the dApps developed by the blockchain companies.
Based on the market capitalization of the ERC-20 tokens – with several hundred million dollars – one would expect these dApps to have a huge amount of users. However, the numbers of actual users are incredibly low. Below is an analysis of the user accounts of Ethereum dApp, a snapshot from mid-December 2018. Prior to this analysis, the dApp user counts were even lower, but a spike in the cryptographic market seems to correspond to a peak in dApp users.
Lordless currently has about 1,300 users, making it the number one dApp by number of users. This is an anomaly, even though Lordless had not many users before today. Lordless is a game of bounty hunters where players own a tavern and send bounty hunters in quests to get rewards.
Often, the best Ethereum dApps are games and can have many more users than "standard" apps for short periods of time. In general, gaming apps have temporary peaks of use and so far no gaming apps have maintained their long-term user base. For example, the Cryptokitties have become popular and have generated huge speculations and investments in 2018. However, the Cryptokitties eventually disappointed investors and currently have a relatively low number of users, around 300 users.
Other games on Ethereum's blockchain include Blockchain Cuties with 500 daily users, My Crypto Heroes with almost 700 daily users, Hyperdragon with 400 daily users, Etheremon with almost 400 daily users, Gods Unchained with over 200 users daily and 0xUniverse with 200 more daily users . In particular, Decentraland, which is perhaps the most publicized game based on Ethereum, has only 150 users per day, ie after a spike in activity due to the current crypt rally. Of the 34 apps with the user has over 100, 11 of these are games. Keep in mind that all these games have an extremely low number of users compared to the most popular online games, that can have up to millions of players playing at the same time.
The dApp for the gambling game is also a popular category and is known to temporarily occupy the first place for the dApp user count. However, gambling dApps are not going so well at the moment, with Smartolution's number one with over 200 users every day, and number two is a tie between FCK, Fairhouse and Edgeless, each close to 150 users. Sometimes the game of chance can be indistinguishable from Ponzi's schema app like FOMO3D, which fortunately fell to less than 50 users, but now there are numerous scripts.
The number two dApp by number of users is the decentralized exchange protocol (DEX) 0x with almost 1,000 users per day. This user base is split between all exchanges that use the 0x protocol. IDEX is right behind 0x with almost 900 daily users. DEXs essentially allow Ethereum users to exchange ERC-20 tokens with the MetaMask and DEXs are a common way for new tokens to get value. ForkDelta has over 700 daily users, KyberNetwork and Bancor have more than 300 users a day, and The Token Store and Lescovex DEX have around 200 users every day.
There is an exchange called LocalEthereum which is different and more similar to LocalBitcoins since it involves fiat in crypto trading and has 150 daily users. Of the 34 apps with over 100 users every day, eight of them are exchanges. All Ethereum-based exchanges have an extremely low number of users compared to centralized centralized ones such as Binance and Coinbase, and therefore these DEXs lack liquidity, leading to non-optimal trading conditions. Starting from November 2018, Binance and Coinbase had more than 100,000 users each day.
MakerDAO is unique among the best dApp of Ethereum since it is a decentralized autonomous organization (DAO). There are currently 870 users a day on MakerDAO despite a market capitalization of $ 322 million, with a market capitalization per user of $ 370,000. This suggests that investments and speculations are driving Maker's market capitalization, and not the actual use.
Stablecoin received a lot of publicity, especially after the trouble with Tether (USDT) during October and November 2018, which gave other stablecoin the chance to thrive. Paxos Standard (PAX) is one of the main alternative stablecoins with a market capitalization of $ 155 million. However, there are less than 200 daily users of PAX, although this may not catch people using PAX in the exchanges after having already filed it.
Basic Attention Token (BAT) is another unique Ethereum token because it is the currency of the Brave browser. BAT is a pioneer of a new advertising system in which Internet users get paid and can personally reward content creators. It looks like a great idea and BAT has been listed on Coinbase and has a market capitalization of $ 147 million. However, BAT has only 500 users per day. This is incredibly low considering that one of the only reasons people would use the Brave browser is to earn BAT, and therefore the low number of users suggests an equally low user count on the Brave browser. Popular Internet browsers like Google Chrome that has billions of users every day have more orders of magnitude than more users. That said, Brave is relatively new and could become popular.
There are several main cryptocurrencies related to blockchain platforms, all with a low number of users. OmiseGo has less than 400 users per day and a market capitalization of $ 191 million. Golem has less than 200 users daily and a market capitalization of $ 66 million. polymath has less than 200 users per day and a market capitalization of $ 43 million. TenX has 150 daily users and a market capitalization of $ 50 million. IS aelf it has only about 100 users daily and a market capitalization of $ 32 million. Augur it is a more extreme example with 100 daily users and a market capitalization of $ 81 million.
It seems that the prices of these cryptocurrencies are mainly driven by speculation and not by use. There are numerous cryptocurrencies with market capitalizations of over $ 10 million and less than 100 users. Frame it has just been added to Coinbase and has a market cap of $ 27 million but only 80 users per day.
The lesson to be drawn from this article is that Ethereum's dApps saw extremely low adoption rates despite a huge uproar. Perhaps some of these dApps will be in a privileged position to become major apps around the world when the economy of crypto-space will improve. For now, the Cypherpunks have been validated, since the consensus among them is slapping the blockchain integration on an app is not necessarily a good thing. Here it's a video of Lemoncoin, and although it's a parody, it makes this point very clear.
Source link
