- Binance has acquired DappReview, one of the leading information and analysis platforms for decentralized applications (dApps).
- The acquisition is expected to accelerate DappReview’s growth and support the entire dApp ecosystem.
Binance continues to expand. A few minutes ago, on 3 December 2019, the Malta-based crypto exchange announced that it has acquired DappReview. The platform is one of the leading information and analysis platforms for blockchain-based decentralized applications (dApp), providing data on the dApp ecosystem as well as research and analysis.
A further service of DappReview are support packages for dApp developers from fundraising through product development to marketing and promotion. Currently, DappReview supports the tracking of 13 public blockchains and more than 3,900 dApps and provides insights on transaction volumes, daily active users (DAU) and the number of transactions of each blockchain.
On the website of DappReview the team describes their fields of activity as follows (freely translated):
We are professionals on providing on-chain data and analytics. The data service has been served for many top media and investment organizations. To have a deep understanding of the DApp market with our data.
According to Binance in its official press release, the website has over 300,000 active users in 120 countries every month. Through the acquisition, Binance intends to support DappReview in further developing the dApp ecosystem and promoting the adaptation of the blockchain. Within this context, according to Binance, DappReview will retain its independence “in technical development and operation”. Binance is only planning to support non-technical areas such as marketing and business development.
Furthermore, Binance has announced that DappReview will release a new product suite in the first quarter of 2020. In addition, Binance will integrate some DappReview related products into its services. Thus, the Trust Wallet developed by Binance will implement the DappReview API to provide easy access to new dApps and crypto games.
Comments on the DappReview acquisition of Binance
Binance CFO Wei Zhou stated that both companies share the same goal – the mass adoption of cryptocurrencies. In this regard, the acquisition represents a significant step for the entire dApp ecosystem:
On-chain applications are still the missing piece for mass blockchain adoption. The DappReview team has shown its commitment to dapps and strong execution in building a leading global dapps platform within a year of establishment. Binance and DappReview share a mutual goal of driving blockchain applications. This acquisition marks a significant step into the dapps ecosystem, and we will have more exciting developments in the near future.
Vincent Niu, founder and CEO of DappReview, highlighted the opportunities offered by the new partner:
Binance’s acquisition will empower DappReview with more resources to accelerate our business growth. Our next step is to partner with more blockchain protocols and developers on dapp data integration, and push for dapps adoption on a greater scale.
Justin Sun, founder of TRON, also commented on DappReview and explained that the company makes a significant contribution to the dApp ecosystem:
DappReview provides TRON’s community developers with most up-to-date insights on how their DApps are performing against other DApps on TRON as well as other blockchains. To make the service more enticing, Vincent and his team frequently share industry insights based off their deep understanding of the overall ecosystem and detailed data analysis, offering analytical guidance on latest industry trends.
The acquisition also means that Binance now has a subsidiary in Beijing. Recently, there has been much discussion about whether there has been a “raid” on Binance’s Chinese offices. In an interview, however, Binance CEO Changpeng Zhao clarified that Binance does not have any offices in China. The offices that caused the news were outsourced customer service offices, Zhao said.