EOS and TRON Dapps Crushing It When It Comes to On-Chain USD Volume, Latest Research Indicates

Siamak Masnavi

It seems that EOS and TRON are handily beating Ethereum when it comes to decentralized application (Dapp) adoption (as measured by on-chain USD volume), according to a report by Diar Research that was released on Monday (January 28th).

Findings of Diar Research

Here is what Volume 3, Issue 3 of Diar's weekly newsletter had to say about Dapp adottion amgonst the mahor on the three most active Dapp blockchains, Ethereum, EOS, and TRON:

  • In 2018, almost $13 billion (in total) was transacted on these three blockchains.
  • In the eight months since the launch of its mainnet, EOS "has taken over the reigns from Ethereum accounting for nearly 50% of US Dollar traded volume" on Dapps.
  • "As of January this year, to date, EOS Dapps are accounting for 55%, Tron 38% leaving Ethereum applications with a mere 6% of total on-chain USD volume."

Diar Report - 28 Jan 2019 - Fig 1.png

  • Most of the total on-chain USD volume is due to the popularity of decentralized gambling: "Of the $5.5Bn already transacted on EOS, 70% go towards gambling dapps. This number is over 95% for Tron."
  • Ethereum, however, sees only a tiny portion of this gambling action: "Gambling Dapps only account for a tiny 2% of total US Dollar transaction volume on Ethereum." The "overwhelming majority of trading went towards trading on DEX - and even that now faces a continuous adoption downfall."
  • "Ether on-chain transactions are however at an all-time high." 
  • " Financially driven projects such as Maker/Dai, Compound, dYdX, and Stablecoins have found sanctuary on the Ethereum blockchain."
  • "EOS has said to have earmarked $1Bn to incentivize developers to build on top of their platform," and "has gained over punters - a group that Ethereum developers haven't been able to attain."
  • "It's unlikely that this pose a long-term development threat, however, with major cryptocurrency institutions having backed financial projects already geared for Ethereum."

Findings of Dapp.com

Dapp.com's "2018 Dapp Market Report", which was released on January 15th, provided severl insights into Dapp usage on Ethereum, EOS, TRON, and STEEM. Here are a few of their most interesting findings:

  • "Betting has become the 'killer apps' on blockchain due to proven fairness. The booming betting dapp market was mainly contributed by EOS and TRON, the two high-speed DPoS blockchains built for decentralized apps."
  • "Overall, the dapp market is still driven by entertainment and gambling."
  • "Because of its first-mover advantage, Ethereum blockchain still dominates the market in regards to the number of dapps, wallets, and dapp users. But compared to other blockchains, it has less transaction amount."
  • "Ethereum is the only one of 4 blockchains in this report that needs gas fee for its transaction. The fact that users have to own ETH to start their experience with decentralized apps are also hindering the mass adoption for Ethereum dapps."
  • "TRON is the most ambitious in the dapp field, with a $2 billion Project Genesis launched in the second half of the year. In addition, it spends $100 million on TronArcade to promote its dapp ecosystem."

 

Featured Image Credit: Photo via Pexels.com. Chart from Diar newsletter.