Blockchain dApp Usage Exceeded $500 Million This Quarter

According to a new report from Dapp.com made available to BSN, over $500 million was transacted through decentralized applications over the course of the last quarter.

The amount of money being processed by dApps is important. It can help illustrate the actual adoption of a given blockchain. Some process a lot of transactions but little money. That’s less significant than one that is processing a lot of money but few transactions.

In some cases, they can do both.

According to Dapp.com’s findings, the total of all six major blockchain platforms was just over $2 billion. That’s a demonstrative 40% drop from the same measurement last quarter, which might be worrisome to some observers.

Return dApp Users Stabilizing

However, markets have been on the decline over the past couple of months, with long periods of stagnation. These lulls have an effect on the popularity of all blockchain technology.

Some of the data is a bit troubling, though, like the news that only 36% of people who used a dApp in the second quarter also used one in the third. From the sounds of it, people aren’t being fully converted after their dApp experience, and so not returning to use them again.

Some dApps, of course, manage to suck up massive amounts of money, like the Fairwin ponzi scheme.

Dapp usage is on the decline over the last quarter. As the market fell off a cliff over the past two weeks, users nonetheless continued to patronize certain decentralized applications. Here are some statistics:

dApp Usage Is Going Strong

dApps continue steady and strong. Source: stateofthedapps.com

It’s quite notable that EOS currently has more daily active users than Ethereum.

Here’s a chart of dapp launches and development, across platforms:

A chart demonstrating how stagnant new dApp development has been.

A chart demonstrating how stagnant new dApp development has been. Source: stateofthedapps.com

As you can see, dApp development has been relatively stagnant month to month, but it’s far lower over the past couple than those prior to that. In fact, activity was more than double just a few months ago. Let’s zoom out now and examine the whole chart:

Looking at this chart, it becomes clear.

This chart makes it much more clear how busy dApp development can get after a capital injection. Many of the projects built and launched in 2018 were on the shoulders of projects funded throughout the 2017 run. Source: stateofthedapps.com

A couple of interesting trends become clear.

For one thing, dApp launches have far dwarfed 2017 in the intervening years. By comparison, 2017 seems calm, with 2018 being the most active year for dApp launches yet.

This may be because 2017’s funding rounds were used to launch the platforms that are now hosting the new dApps.

Around half a million people use decentralized applications, and well over 25% of these people come into blockchain through gambling.

Gambling, whether some people like it or not, is one of the more attractive applications of blockchain for mainstream audiences, who can see the value, for example, in a provably fair casino.

For more findings, see the Dapp.com report.

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