In the world of Decentralized Applications (DApps), EOS seems to be gaining momentum over Ethereum in terms of daily active users, transaction volume, etc.
We saw huge interest in DApps last year when Cryptokitties clogged up the Ethereum network, the company even raised $12 Million only to see a drop of more than 96% of its users. Even the most awaited DApps like Augur have few users, that being said EOS DApps are slowly gaining momentum.
EOS Beating Ethereum?
Daily Active users:
The data from DappRadar shows that only five DApps on EOS and just two on Ethereum have had more than a thousand users in the past day.
Among the top ten DApps which make up the majority of users around, EOS managed to get around twenty thousand users whereas Ethereum got just over seven thousand users.
Image Source: DappRadar
Transactions and volume:
Among the top ten DApps in terms of transaction volume EOS managed to get a transaction volume of twelve Million EOS tokens which is worth around $67 Million at the current price which is four times larger than that of Ethereum’s 71,000 tokens worth around $16 Million.
EOS DApps even dominated Ethereum DApps in the number of transactions in the past week where a single Gambling DApp called EOSBet had more transactions than all the Ethereum DApps combined.
Most of the DApps in both the platforms are speculation related i.e Gambling or games. Some are decentralized exchanges and some are even outright Ponzi Schemes. We are yet to see an app which isn’t speculation related and is widely used.
Key Developer Interest:
Although EOS is gaining traction in terms of adoption, it comes nowhere near Ethereum when it comes to sheer developer interest.
Ethereum is by far the biggest community in terms of size and is ahead in the documentation which matters a lot to the newer devs.
Organizations like Consensys and EthGlobal hold hackathons constantly which has sparked interest in the Developer community. Whereas the infrastructure in EOS is not yet ripe to spark developer interest, and it is a bit harder to develop on EOS if it costs the devs tokens to deploy the apps, that being said, EOS has an impressive war chest of $4 Billion raised in its ICO which can pretty much incentivize devs and help educate others to build on the platform.
It will be interesting to see how the ecosystem will turn out a year or two from now. There are various factors like Network Effects, Developer interest, ease of use, and the utility of the DApps, etc that come into play to determine which smart contract platform will stay ahead.
Does the theory behind EOS of compromising Decentralization for usability help it get ahead of Ethereum? Or will Ethereum solve its scalability issues and become ready for mass adoption in that time frame? It will be interesting to see how it pans out, in any event.