The success recorded by DApps market in the year 2018 surpassed the success of the App Store in its early stage. The details of this were published in a recent report by Dapp.com.
The Success of DApps, An Indicator of Greater Success Ahead
The recent report shows that DApp in its early stage, 2018, garnered more revenue than Apple’s App Store in its early stage. What is DApp? A DApp is a decentralized application that functions outside of a firm or a central authority. DApp is a feature of the blockchain technology, as its users make decisions related to it through consensus and self-governance.
The App Store has existed for over a decade at the moment, and DApp has been for a few years. However, the indicator of DApp in 2018 shows that it has a lot of potentials to reach greater successes.
Apple launched its App Store on July 10, 2008, with the focus of making it functional with its mobile phone products. The app store became fully functional in the year 2009. A market research firm, Gartner’s information noted that a total of 2.5 billion apps were downloaded in 2009 from the store and this accounted for the 99.4% sales of the mobile apps in the year.
Similar leap made by the App Store in 2009 was made by DApp in 2018, even in a greater fold. According to Gartner an estimate of 4.2 billion dollars was accounted for by the success of the App Store in 2009. Meanwhile, the DApps market in 2018 accounted for 6.7 billion dollars in revenue as reported by Dapp.com.
Notably, DApp is not new; having being in existence for some time now. However, the Dapp.com report called 2018 the year of “DApp movement” as it became more widespread in use.
Meanwhile, Apple Store has grown over time since it was in 2008. The store recorded revenue in the tune of 22.6 billion in 2018 after Apple Store and its rival Google’s Play Store with revenue in the tune of 11.6 billion in the same year.
Betting And Gambling Accounts For DApps Revenue
Further, the report by Dapp.com, however, indicates that betting and gambling accounted for the majority of the revenue in 2018. The report pointed out that 97% of these transactions were from gambling, with 75% of transaction volume originating from betting games.
The DApp ecosystem is dominated by Ethereum, EOS, TRON, and STEEM blockchains. Ethereum leads the pace with the largest number of Dapps. However, its dominance is predicted to change due to congestion and holding of Ethers before use.