Cryptocurrency

Markets dApps world’s largest

The year 2020 will be, according to several of the major analysts of the crypto world, the year of the decentralized applications (dApps). Thanks to the development that have experienced this type of applications the previous years, and that has allowed the market to mature to its current point. Therefore, when the dApps reached the record figure of 12 billion dollars in transactions, we tell you which are the markets of dApps largest in the world.

1 – The market for dApps original: Ethereum

Since its birth, Ethereum has become synonymous with decentralized applications. And that is, the initial goal of Vitalik Buterin and his team to create the criptomoneda, was to provide a mechanism so that users could set up smart contracts and dApps, taking advantage of the capabilities of the Blockchain ETH.

Thanks to this, according to recent figures from DappsRadar, of the 12 billion dollars that is tranzaron in the market of decentralized applications during the second quarter of 2020, at least 82% of the same were sent through the Blockchain of Ethereum. What makes the criptomoneda as the chain of blocks number one for the creation of new dApps.

The markets of dApps largest in the world remain Ethereum, Tron and EOS. Source: Dapps Radar

Thus, within the network of ETH we find applications as different among themselves as to the application of finance decentralised Compound, the exchange IDEX, and Crypto Games as Crypto Kitties. A trend that is expected to increase following the launch of ETH 2.0, and the facilitation of the transactions within the Blockchain of Ethereum.

2 – challenging: Tron

However, the position of Ethereum on the market is not as secure as it might seem. Therefore, within the crypto world a criptomoneda is preparing to take on the role of ETH, as the main platform for the creation of dApps. We refer to the criptomoneda of Justin Sun, Tron.

And is that, only a few weeks ago, the magnate of the cryptocurrencies announced the upcoming release of a new version of the currency, Tron 4.0. Which would come to try to compete with ETH 2.0, improving the security and privacy within the Blockchain of Tron.

Until the new version is not in operation, Tron 4.0 is no more than a promise. What is certain is that the expectations created around it have already started to be reflected in the activity of Tron. Therefore, in the last quarter, its Blockchain saw an increase of 17.210% in the volume of transactions related to dApps. If the majority of this activity to Oikos.cash, the version of the Tron Jacket.

3 – what A star on the wane? EOS

When it appeared for the first time, EOS has generated enormous expectations within the crypto market. Which he saw in this criptomoneda the main rival of Ethereum, being recognized as such by Vitalik Buterin, expressing on several occasions his respect towards the project. However, with the passage of time, it seems that the virtual currency has lost its initial momentum, being surpassed by Tron.

This sense of decline in the criptomoneda was reinforced by the fall of 53% in the activity related with dApps in your Blockchain between 2019 and 2020. Due to high levels of congestion within their network, which slowed down the execution of the transactions.

In these moments, through the Blockchain of EOS is carried out transactions for 1.9 billion dollars. Amount that is concentrated essentially in two dApps game, Upland and Crypto Dynasty.

So, even though it still handles large amounts of money, what is certain is that EOS is in a difficult position. Next to definitely be desbancada for Tron, if you do not get an development within their Blockchain to place it at the height of Tron 4.0 and ETH 2.0.

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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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