There are now more than 100,000 cryptonians daily using dapps according to tracking sites, with $37 million worth of crypto transacted in the past 24 hours.
EOS accounts for the vast majority at about 55,000 users transacting $21 million. Tron is in a not too distant second place with 30,000 users transacting $15 million. Eth, on the other hand, is at just 10,000 dapp users who have transacted only $1.1 million worth of eth.
The data is an estimate as it can potentially be inflated and it can be difficult to establish what exactly counts as a user.
Dragos Dunica, co-founder of DappRadar, told Trustnodes the data is gathered by interacting with the blockchains through a node and then calculating the data needed.
Asked what they define as a daily active user say in Dai or in Augur, Dunica said:
“Dai or Augur are difficult dapps to track entirely and accurate. While we track their main contracts, that doesn’t reflect the real activity of those platforms.
Beside the 2 mentioned, other projects have different logic and therefore it will require custom integration to really show accurate numbers.
On exchanges for example, counting the tokens and their value will offer a different view on their volume. And so on..
Right now, in our stats an users equals an unique wallet that interacted with that dapp in the last 24h. All these projects will require custom integration on our side to really count their activity with a better accuracy.”
Dunica said they take measures to ensure they do not count bots, but that’s not an easy task. He says:
“We have our own algorithms that are tracking the activity of the dapps and based on specific metrics we can have alerts and then take measures in ignoring the specific addresses that were marked as bots or stop tracking the contract entirely if it was created on purpose by the developer to inflate the numbers.
It’s a continuous process because as YouTube, Twitter or Instagram are fighting fake profiles, fake likes or views, the same is happening here when developers are coming with new ways to increase the numbers each time or people that are creating bots on purpose to get the free rewards from specific dapps that are offering incentives.”
He was unable to provide a breakdown of daily active users on eos and tron, with the site stating there’s 137,000 across all three platforms in the past 24 hours.
We could only manually count about 100,000, with State of the Dapps stating there’s only 55,000 but they don’t count tron.
Another site covers other platforms as well as the main three, with our manual counting there again showing just a bit more than 100,000 daily active users.
Meaning that a dapp economy may well be forming, but most of the top ones appear to be gambling related, ponzi like schemes, or exchanges.
Dapps like Dai and Augur are listed as having only 50 daily active users which may well be the case even though close to 2 million eth is currently stored in Dai.
Moreover, eos has previously in a somewhat obvious manner inflated on-chain transactions, so just how many real active users there are isn’t clear.
It may be the case however that eos’ semi-centralized design currently allows for more capacity at lower fees. Thus for something like gambling with small amounts, eos or tron might make sense.
Where it’s something like dai, however, where some $200 million worth of eth is currently being stored, trusting the fairly centralized 21 nodes in eos might not make very much sense.
So eos might make sense for inconsequential dapps, although even there one could use Loom Network’s eos like sidechain on eth.
Yet when it comes to something like land registry titles for home ownership, even if the home is a virtual one on Decentraland, then you probably want a decentralized network where you don’t have to trust anyone as the 10,000 ethereum nodes establish automatic trust in the immutability of past history.