- DappRadar raises $2.3 million in investments for tracking dApps
- At least 2,500 dApps are already being tracked by DappRadar.
Blockchain technology is rapidly becoming the choice for those who value transparency, traceability, and speed. While the most popular application of blockchain technology is cryptocurrencies, different use cases across industries have been developed over the years. One other aspect of blockchain technology that has flourished is the creation of decentralized applications. These are normal applications that are hosted on a peer-to-peer system. Unlike the typical applications that are governed by a centralized authority, dApps have no single point of control. Recently, DappRadar, a company that tracks dApps, announced that it is getting another $2.3 million in investment for tracking 2,500 plus decentralized applications on the blockchain.
DappRadar Gets Millions In Investments To Track dApps
According to the blockchain news today, the investment round was led by a global internet group, Naspers. Angel Invest Berlin and Blockchain.com Ventures also participated in the funding round. The apps hosted on blockchains are called dApps because the blockchain uses a peer-to-peer network that makes it impossible for any centralized organization to take control of it.
DappRadar tracks several decentralized applications by watching as they execute smart contracts. They gather information about each contract including the number of transactions, the user interaction, tokens exchanged, etc. The co-founder of DappRadar Skirmantas Januskas said that the commercial prospects of DappRadar are clearer. In his words;
“In the short time since we founded DappRadar, we’ve seen the technology mature quickly and its commercial prospects are clearer.”
So far, DappRadar tracks decentralized applications across 2,500 blockchains within Ethereum, Tron, and EOS. The company intends to add more blockchains to the mix. The data from DappRadar is reliable because it is filtered to remove irrelevant activity providing only actionable data. Only a few companies provide these services and serve as a distribution channel for dApps. Samuel Harrison, the managing partner at Blockchain.com Ventures had this to say about the investment;
“DappRadar is playing a vital role in bringing trust, transparency, and discovery to the fragmented world of dapps. We hope to play a role in accelerating their impact on the ecosystem.”
Using the new funding, DappRadar is going to expand its reach and functionality to make the data it delivers more streamlined. The services offered will expand and more employees will be employed. More services will be added to the benefits of customers. Developers who want their apps to be listed and tracked can do so from the DappRadar official website. Users can visit the website to get more information about the apps they are interested in across categories.