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.

Early Bitcoiner Donates 50 BTC to Grin, Sparking Satoshi Nakamoto Rumors

The Grin General Fund has recently received an anonymous 50 BTC donations from an early bitcoin adopter, a move that sparked rumors it could’ve been Satoshi Nakamoto.

Grin is a privacy-focused cryptocurrency that aims to empower anyone to transact and save money without fearing external control or oppression. One of its developers, Daniel Lehnberg, recently revealed the project received a 50 BTC donation from an address that stored the coins since they were mined.

A look at the data on the blockchain shows the address mined the 50 BTC back in December of 2010, when block rewards were still of 50 BTC and when the cryptocurrency was worth very little.  The only transactions the address have are the one receiving the coinbase rewards in December 2010, and the donation to Grin this month.

Analyzing the data Litecoin creator Charlie Lee said on Telegram the donation came from Bitcoin’s creator Satoshi Nakamoto. Lee later on clarified his comment was a joke, but rumors started flying, setting the crypto community abuzz.

Lehnberg revealed in his post that he managed to interact briefly with the donor, who chose to remain anonymous. The donor said he wouldn’t judge how the funds, currently worth around $429,240, would be spent and assured him the project was going great and that it “feels like 2009/2010 again.”

The donor reportedly added:

It’s wonderful that we have GRIN now, our motives are not economical! It’s about the technology and the protocol. Please put it to good use for the development of GRIN … We saw your work and your ethics towards the project and your interest free work. This is what we are honouring right now with these donations so that you can work freely on GRIN. Without economic dependencies.

The donor added that hopefully they judged right and “time will tell.” It’s worth pointing out that blockchain data also shows that at the time of the transaction, December of 2010, the number of unique addresses on the Bitcoin network grew from 500 to 600.

One unique address if often associated with one user, although anyone can, of course, create multiple unique addresses. As the donor mentioned it “feels like 2009/2010” wit’s possible they got into Bitcoin the year it was created, 2009.

If so, blockchain data shows the number of unique addresses grew to 100 that year, which could still mean there are 100 potential candidates, one of them being Satoshi Nakamoto himself.

Featured image by André François McKenzie on Unsplash.