- Last year, the transaction volume of native tokens of the 9 leading blockchains on which dApps exist rose to over 10 trillion USD, an increase of 58.5% over the previous year.
- A total of 3.26 billion transactions were processed on these blockchains in 2019.
- The number of active dApp users has more than doubled from 1.48 million to 3.11 million compared to the previous year.
The market for decentralized applications (dApps) is a future market in which many experts in the industry see great opportunities for growth. A new report from the analysis website dapp.com shows that the total transaction volume has continued to rise year-on-year to a total of more than USD 10 trillion. This corresponds to a growth rate of 58.5% and indicates great potential that this market holds for the coming years.
dApps in the financial and gambling sector show strongest growth
The number of new dApps has increased from 1.45K to 1.47k and the number of active dApp users has increased from 1.48 million to 3.11 million. The total volume of all recorded transactions has increased from 281.69 million to over 3.26 trillion, of which 2,386,915,405 were processed on the EOS blockchain alone. The transaction volume rose from USD 6.8 trillion to over USD 19.9 trillion.
dApps in the financial sector, e.g. for lending, were able to record enormous growth in 2019. The number of users increased by 610%, from 66.96K to 475.29K. The number of gambling users increased by 372%, from 166.37K to 436.70K. However, in some areas, such as gaming, transaction volume has decreased by more than 60% compared to the previous year.
In 2019, 1,445 dApps have been released on the 6 largest Smart Contract platforms, Ethereum, EOS, TRON, Steem, IOST and NEO. In the transaction volume category, EOS dApps accounted for more than 50% of the total volume, almost USD 5 trillion. However, Ethereum still owns the majority of users, with over 1.4 million active dApp users.
While 137,000 users were already using Ethereum dApps in 2018, more than 1.28 million new users were added in 2019. EOS was able to increase its user base almost fivefold to over 518,000. However, the largest increase in users was recorded by TRON, with an increase of more than 947,000 (20,000 active users in 2018).
By November 2019, EOS was the blockchain with the most average users per day (79,749), although this figure has fallen by more than 80% to 15,363 users at the end of the year. Since November, TRON has been the blockchain with the largest number of daily active users.
Almost half of the active Ethereum dApp users used dApps of the DeFi (decentralized financial economy) category in 2019. Almost 70% of the ETH transaction volume resulted from the use of decentralised exchanges and financial services.
In 2019, EIDOS had 14,6060 unique on-chain users (who also participated in EIDOS mining). This represents only 2.8% of the total active users of EOS. Nevertheless, they represented 85% of the total transaction volume of EOS in 2019. In the fourth quarter, activity in the EOS network decreased significantly. Most of the leading dApps based on EOS, such as EOSbet, Prospectors or Karma, announced their migration to the wax blockchain.
In 2019 TRON has become the second largest dApp ecosystem behind Ethereum with almost one million active users. As a previous report by DappReview shows, risky gambling dApps dominate the TRON ecosystem. More than 75% of all active users come from this category. Justin Sun achieved two major milestones by acquiring BitTorrent and the distributed streaming platform DLive. The report describes:
According to the data from SimilarWeb, DLive’s has monthly traffic of over 3 million. And we’ve recorded DLive’s 400,000+ on-chain users on the Lino blockchain within 3 months prior to the acquisition. We will be expecting to see more diversity of TRON’s dapp users in 2020.
DeFi important growth market
The market for decentralized financial economics is large, but the majority of existing projects are still based on the Ethereum Blockchain. At the time of writing, USD 821.9 million, almost 4,800 ETH, were included in all Ethereum-based DeFi projects.
DeFi enables the exchange of digital assets as well as information without intermediaries such as stock exchanges or other centralized institutions. The community’s need for these services is correspondingly high, as they are in line with the vision of cryptocurrency, freedom and decentralization. Experts predict that the volume of this growth market could rise to over one trillion USD.