Cryptocurrency

Market Dapps reaches 12 billion dollars

Each day that passes, decentralized applications, or Dapps are becoming more important within the crypto world. Especially thanks to its increasing use within the finance sector decentralised (DeFi) for the granting of credits in cryptocurrencies. Thus, in the second quarter of the year 2020, the market Dapps has reached a record high of 12 billion dollars in transactions. Of which, the majority are made through the Blockchain of Ethereum.

The Dapps in the crypto world

With the passing of the years, the technology Blockchain has been evolving thanks to the work of hundreds of developers around the world. Those who have created tens of cryptocurrencies with unique features and capabilities, which have expanded significantly the possibilities of the strings of blocks.

Thus, and thanks to this boom in the development of the Blockchain, there have been revolutionary technologies that promise to transform the society in which we live. Among which two stand out, the smart contracts or contracts intelligent, and decentralized applications.

Both technologies have reached the best expression of his development until the time, within the chain of blocks of Ethereum. Which was created specifically to allow users from all over the world, could create their own contracts smart and Dapps through the tokens ERC-20. Opening the doors of the market to a myriad of applications, ranging from the crypto games to finance decentralized.

However, it has not been until the second quarter of 2020, when the advance in the massification of the Dapps at the global level has become evident. Therefore, although there were several predictions that announced that this would be the year of the decentralized applications. The same had not been but a tool is marginal, within a crypto world that focused their attention on currencies such as Bitcoin.

Market of decentralized applications expands

A situation that seems to be starting to change, as it announces DappRadar through his Twitter account. In this second quarter of the year, the volume of transactions in the market of Dapps has reached a record high of 12 billion dollars. An increase of 4.5 billion dollars (37%) compared to the previous quarter.

Of the total number of transactions in the market of Dapps, a 82% was executed within the Blockchain of Ethereum. With the application of finance decentralised Compound moving by itself to 1.2 billion dollars.

Which contrasts with the downturn in the activity of the crypto games based on Ethereum. Which experienced a drop of 80% in their transactions, due to the increase in the commissions within the string ETH.

For his part, another of the cryptocurrencies dedicated to the market of Dapps that also would be living in a boom time is Tron. Thus, the criptomoneda Justin Sun saw a quarterly increase of 7.210%, transactions-related decentralized applications.

An increase driven essentially, as in the case of Ethereum, for an application Defined as Oikos.cash. The version in Tron Compound that allows users to get loans in the chain of blocks.

Within the market of Dapps Compound is the main application DeFi in the world

These figures not only demonstrate the importance of the market of Dapps for the crypto world. As these applications are adopted by more and more people. But the weight of cryptocurrencies as Ethereum, and to a lesser extent Tron, in the development of the capabilities of the technology Blockchain.

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About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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