- Ethereum had $2.6 billion transaction volume in 2018, continues to dominate the dApp market
- EOS had the largest transaction volume across all smart-contracts platforms in 2018
- TRON is one of the fastest growing platforms
According to a report by Dapp.com published on January 15, 2019, Ethereum (ETH), EOS, and TRX have emerged as the top smart contracts platform for dApps in 2018. While ETH continued to be a market dominator in regard to the number of dApps, wallets, and dApp users, EOS came out on top in terms of transaction volume and transaction amounts. The silver lining for Tron came in the form of increasing transition of the erstwhile Ethereum dApps to the TRX Network. These include dApps like TronGoo, among others.
Crunching the Numbers; Ethereum Still the Top Player, but Barely
Although 2018 proved to be a bumpy ride for the global cryptocurrency market, it was, however, a breakthrough year for blockchain-based decentralized apps.
dApps contributed close to $6.7 billion throughout 2018. The report by Dapp mentions an interesting fact regarding revenue generation by apps. Interestingly enough, in 2009 when Apple opened its App Store, there were over 65,000 mobile apps built on IOS which generated $4.2 billion in revenue.
dApp stats from 2018…
$2.6B tx volume
78% of volume from DEX activity
$3.5B tx volume
75% of volume from betting
$606M tx volume
98% of volume from betting pic.twitter.com/ELEbNtT3Ke
— Kevin Rooke (@kerooke) January 16, 2019
Speaking of Ethereum, 2018 saw the smart-contracts platform dominate the dApp market. However, 2019 could prove to be a challenging year for the Ethereum ecosystem. Scalability continues to be the Achilles Heel for Ethereum. Further, Ethereum is the only blockchain among TRX and EOS that requires gas fee for its transactions. Having ETH holdings just in order to use a dApp could prove to be a detriment for mass adoption for Ethereum.
EOS and TRON Steadily Catching Up With ETH
EOS experienced a colossal surge in dApps usage in 2018. The smart-contracts platform became the largest blockchain in terms of transaction amounts and transaction volume in 2018. Notably, 97 percent of dApp transactions were from gambling and 75 percent of transaction volume came from betting games.
However, EOS witnessed slow growth in regard to the number of wallets created on the mainnet. The report notes that there were twice as many TRON mainnet accounts as EOS mainnet accounts in 2018.
TRON had its own shares of developments in 2018. The blockchain-platform which aims to decentralize the web launched the gargantuan $2 billion Project Genesis during mid-2018. The platform also launched a dedicated gaming fund worth $100 million, named TronArcade to propel its dApp ecosystem.
Moreover, the recent transition of Ethereum-based dApps to the TRON Network has further bolstered the platform.
BlockchainReporter informed on January 11, 2019, how TronGoo, previously known as EtherGoo became the number 1 dApp in transaction volume across all blockchains in existence.