When dApps (Decentralized applications) came into play, they were initially hailed as one of the top use cases for the Blockchain initiative. By means of smart contracts, whether it is on the Ethereum, EOS, Tron, or any other Blockchain projects, the worlds’ processes currently could be put in a Blockchain, inevitably creating a society that has a decentralized foundation.
Ethereum (ETH) Price Today – ETH / USD
dApp Adoption Has Been Slim to Zero Since it Went Live
As it stands, the adoption of decentralized applications has been rather slim to zero. This is far from rumors, but real cold, hard numbers. As per the research conducted by LongHash, a top crypto data resource center, on February 1, only 180 out of the 1812 Ethereum (ETH) dApps had records of completed ERC-20 transactions. Which translates to roughly 10% out of 100%.
The actual activity statistics accentuated that decentralized apps are not poised to take hold of the world at least not yet. Following the same data set based on the research, 13% of the used applications had up to 100,000 transactions in the last 24 hours, while another 19% had about 10,000 and 100,000 transactions in the same time frame. Although this isn’t a bad stat, especially when you consider the low transactional that Ethereum currently touts, there is still evidence that dApps have a long way to go.
Despite the fact that LongHash’s research pertained to information from only February 1, the lack of activity on Ethereum (ETH) applications was cemented by Canadian crypto researcher and industry pundit, Kevin Rooke.
Rooke recently took to the social media Twitter precisely to claim that based on the DApp Radar, 86% of all live applications on the Ethereum (ETH) Blockchain had zero users this Saturday. On the other hand, nearly 7% of dApps that are running on the Ethereum (ETH) Blockchain had over zero Ether in transaction volumes in the last 24 hours.
Bitcoin Economist Saifedean Ammons, Questions DApp Value Proposition
The perceived lack of adoption immediately catalyzed a response from world-renowned author Saifedean Ammous. Ammous wrote “The Bitcoin Standard,” an industry primer. Ammous, who is also an advocate for Austrian Economics, chose to question the value of decentralizing apps, noting that after a glance, he can now tell that centralizing most, of Ethereum’s on-chain applications would likely be the logical thing to do.
Rooke begged to differ, citing that gambling dApps should prove themselves if they are tied because it is “more difficult than ever for governments to regulate or shut them down.”
Gambling Applications (Ethereum Dice and TronBET) Could be Better Used on a Centralized Setting
Ammous remained adamant to the point that he declared that gambling applications, like Ethereum Dice and TronBET, would be illogically used for a centralized hashing system for RNG. There are a vast number of centralized ‘provably fair’ systems which many gaming sites leverage.
Ammous also cited that governments have a difficult time shutting down sites as is, particularly due to the easy access that domain providers give their clients. The crypto researcher added that “anonymous sites taking Bitcoin (BTC) don’t have bank accounts,” remaining positive that his view that centralized gambling sites that take Bitcoin (BTC) are as viable as the on-chain Ethereum dApps that traditionally accept the ETH token.