Adoption Concerns: Ethereum and EOS DApps Lack Users


Despite speculation around the disruptive potential of blockchain technologies, the currently available real-world applications leave much to be desired.

According to data from DappRadar, which monitors the activity of decentralized applications (dApps) built on the Ethereum and EOS blockchains, only 6 dApps currently have more than 500 daily active users across both blockchains, which have a combined market cap of around $34 billion.

The Ethereum blockchain only has 4 dApps that have more than 500 daily active users, two of which are the most used decentralized exchanges (DEXs), IDEX and ForkDelta. These traders account for less than $20 million in Ethereum blockchain transactions.

As for the EOS blockchain, only two dApps are currently above 500 daily active users, EOS Knights and EOSBet. These two applications fall within the gaming and gambling categories, respectively.

While it is not on DappRadar, it is worth noting that the Kin (KIN) blockchain recently surpassed the daily active users of all dApps on the Ethereum blockchain. The user activity comes from the two major applications active on the Kin blockchain: the Kik messenger beta and Kinit, which rewards users with Kin for completing daily activities like surveys, quizzes, interactive videos and more.

Given this information, it is clear that reaching mass adoption of applications built on blockchain is still far in the future and investors should be cautious when applying any lofty valuations to these platforms in their current form.

More: Ethereum and EOS Only Have 8 dApps Combined with 300+ Active Users

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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