Friday, February 21, 2020

Could Gambling dApp Games Drive Mainstream Blockchain Adoption?

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Adedamola Bada
I'm Damola, a computer engineer from Obafemi Awolowo University. A crypto enthusiast, marketer, and writer who is seeking to achieve career excellence through hard work and positive contribution to the organization that aspires for excellence. Contact me on damolabada@gmail.com

Institutional regulation has been touted as the major force that would drive a global blockchain adoption, but there are other emerging factors that are doing their part to push for the same: and gambling games could be the chief of them.

Domination of Gambling Dapps

Gambling dapps accounted for 99% of the ESO total volume last year. However, the numbers are now slightly lower given the rise of new dapps focused on the FinTech field. Setting crypto kitties aside, it is hard to find well performing dapps that are not based on gambling concepts.

While much has been said of the rising influence of decentralized gambling applications on several blockchains, there is no general consensus yet on whether it is a good or bad development for blockchain adoption.

According to a new market report by Dapp.com, a website focused on Dapp creations , there were more than 400 new dapps created within the first three months of 2019 alone, with Ethereum’s blockchain platform hogging more than 50 per cent of those.  This of course follows the general trend that Ethereum hosts the most number of dapps on blockchains, but Dapp.com revealed a few interesting details in its report.

Ethereum might be hosting the most of created decentralized applications, but it lacks well behind TRON and EOS in user activity: an interesting fact that had been pointed out earlier in January by an attentive CEO at the recent TRON summit in January. More than 600 of Ethereum’s dapps did not record a single transaction within the last quarter, a charring proof of the lack of user activity on the blockchain. TRON and EOS however are pushing and taking away the competition from Ethereum with 95 per cent of dapps on EOS recording at least a transaction within the last quarter.

TRON has within a short space of time emerged to be the best performing blockchain –platform for decentralized applications and it is becoming less of a surprise given its boisterous community. Just last month, the blockchain platform recorded a high transaction volume to break the $91 million mark, significantly more than Ethereum’s or EOS. TRON now leads the top blockchain trio in active users after recording more than 300,000 active users.

“TRON dapps had more than 300,000 active users, followed by EOS dapps with around 260,000 active users,” A report from dapp.com read, followed by the value of wallets on the blockchain.  “By the end of Q1 2019, the number of the wallets created on TRON mainnet has exceeded $2.3 million, among them, 15.46 percent were dapp users, raised nearly 1.5 fold since the beginning of 2019.”

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