The year 2020 will be, according to several of the leading analysts in the crypto world, the year of decentralized applications (dApps). Thanks to the development that this type of applications have experienced in previous years, and which has allowed the market to mature to its current point. Therefore, when the dApps reached the record number of $ 12 billion in transactions, we tell you which are the largest dApps markets in the world.
1- The original dApps market: Ethereum
Since its birth, Ethereum It has become synonymous with decentralized applications. And is that, the initial objective of Vitalik Buterin and his team when creating the cryptocurrency, was to provide a mechanism for users to establish smart contracts and dApps, taking advantage of the ETH Blockchain capabilities.
Thanks to this, according to recent figures from DappsRadar, of the 12 billion dollars that were traded in the decentralized applications market during the second quarter of 2020, at least 82% of them were sent through the Ethereum Blockchain. Which positions the cryptocurrency as the number one blockchain for creating new dApps.
Thus, within the ETH network we find applications as different from each other as the application of decentralized finance Compound, the exchange IDEX, and Crypto Games as Crypto Kitties. A trend that is expected to increase after the launch of ETH 2.0, and the streamlining of transactions within the Ethereum Blockchain.
2- The defiant: Tron
However, Ethereum’s market position is not as secure as it might seem. Well, within the crypto world a cryptocurrency is preparing to take the place of ETH, as the main platform for the creation of dApps. We are referring to Justin Sun’s cryptocurrency, Tron.
And it is that, just a few weeks ago, the cryptocurrency magnate announced the upcoming launch of a new version of the coin, Tron 4.0. Which would come to try to compete with ETH 2.0, improving privacy and security within the Tron Blockchain.
Until the new version goes live, Tron 4.0 is nothing more than a promise. The truth is that the expectations created around it have already begun to be reflected in Tron’s activity. Well, in the last quarter, your Blockchain saw a 17,210% increase in the volume of transactions related to dApps. Due most of this activity to Oikos.cash, the Tron version of Compound.
3- A star in decline? EOS
When it first appeared, EOS It generated enormous expectations within the crypto market. Which saw in this cryptocurrency Ethereum’s main rival, being recognized as such by Vitalik Buterin, expressing his respect for the project on several occasions. However, with the passage of time, it seems that the virtual currency has lost its initial momentum, being overtaken by Tron.
This sense of decline in cryptocurrency was reinforced by the 53% drop in dApps-related activity on its Blockchain between 2019 and 2020. Due to high levels of congestion within its network, it slowed down the execution of operations.
Currently, through the EOS Blockchain, transactions for 1.9 billion dollars are carried out. Amount that essentially concentrates on two dApps of games, Upland and Crypto Dinasty.
So although it still handles large amounts of money, the truth is that EOS is in a delicate position. It is about to be definitively superseded by Tron, if it does not get a development within its Blockchain that puts it at the height of Tron 4.0 and ETH 2.0.