Ethereum and EOS decentralized applications process $165 million per week
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Answer Ethereum and EOS decentralized applications process $165 million per week
Both the Ethereum network and the EOS platform are processing more than $165 million in weekly transaction volume on a variety of decentralized applications, as the trend towards real-world adoption of both digital currency and blockchain technology increases.
The new numbers come from analytics DApps, which only track the number of decentralized applications on a variety of blockchains that are already in use.
The term decentralized application or DApp refers to any part of the applications that run on a decentralized network. “Decentralized applications” can be run in a web browser, on a computer or on a smartphone and is considered one of the main ways in which cryptocurrency and blockchain technology can develop and attract more uses for it.
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So far, most of the financial transaction volume in DApps comes from gambling platforms, a multibillion dollar global industry. DApp BetDice is the number one app to process financial transactions with more than $129 million in the past seven days.
BetDice saw a 95% increase in transaction volume over the past week, while the second largest DApp by volume, ‘hongbao’, a Chinese game, saw a huge increase in sales volume by 1.848% for the same time period.
Each of these apps runs on the EOS blockchain platform that has powered five of the top six DApps over the past seven days. The most popular EOS DApps include EOS Poker and EOS Play games.
If the popular DApp does not run on EOS, it will likely run on the Ethereum network, which powers five of the top 10 DApps.
Despite the high transaction volume, developers are still trying to accommodate more users. The top DApp in terms of daily users is Endless Dice on EOS which has seen nearly 22,945 users in the last 24 hours. The second decentralized app in the list with the highest daily number of users is the advertising platform “PRA Candy Box” which is also on the EOS network with an estimated 6,458 users.
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When compared to the number of active people on the messaging app Snapchat which averages around 161 million daily users, it is clear that while DApps are promising, they have plenty of room to grow and a long way to reach the mainstream and gain popularity close to what is common in the world. Real.
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