Number of EOS and Ethereum DApps Soars but Usage Lags

The development of new decentralized applications (DApps) on two leading smart contract platforms, EOS and Ethereum, is presently at its highest rate. Around 180 new offerings are being introduced every month. However, a sizable gulf between DApp creation and usage remains. 

Per StateOfTheDApps.com, the number of new DApps being developed each month was at the highest for December 2018—179 new DApps went live.

The Ethereum network remains the favorite platform for DApp creation, with 105 of the latest projects being launched on it. Ethereum still has the most active developer community, but the network’s DApps are being utilized by only 141,300 users every month.

While the EOS network does not host a similar number of projects, it is relatively the most popular with actual users. It boasts well over thrice the number of Ethereum users.

Games is the largest DApp category across all platforms. An overall 478 decentralized games are currently being utilized by more than 29,000 active monthly users. Over the last 30 days, the category accounted for 640,900 transactions of the relevant digital currency. It is hardly a surprise considering the success of CryptoKitties as well as the profitability and popularity of mobile games.

Storage is the leading category with users themselves. Around 106,420 monthly users utilize projects such as X Cloud, Everipedia, StorJ, etc.

Interestingly, monetized social blogging platform Steemit is still the highest ranking DApp. It is hosted on its network with only less than 5,000 users every 24-hours.

The new opportunities provided by decentralized programming architecture excite developers worldwide. However, the number of these applications’ users are far from those of more established apps. It is understandable as even the earliest decentralized projects on the Ethereum and EOS networks are only a few years old.

With that, other factors hinder the mainstream adoption of DApps. There is a huge entry barrier with apps hosted on Ethereum, EOS, and other smart contract-powered platforms. Users are required to hold the relevant cryptocurrency to run the applications. It is not as easy as visiting the Apple or Play store and then clicking “download.” It is pretty unrealistic to expect an average computer or smartphone user to register with a crypto exchange that they are unfamiliar with and purchase some STEEM, ETH, or EOS.

Other issues concerning DApp users and developers are the limitations of the platforms. DApps are inherently inefficient since they are developed using blockchain networks. User experience is lagging behind those of centralized apps. Compared to Ethereum, the EOS network is capable of way more transactions per second. Such technical superiority resulting in better user experience may explain why there are more users on EOS-based DApps.

Still, Ethereum is more “battle-tested,” and a more secure option for developers compared to newer smart contract-enabled platforms. With more experimentation history on Ethereum, there is a more massive resources pool for developers to draw on when they build their apps. Such might be the reason why developers prefer Ethereum despite EOS having more users.