- Does Dapps give exponential growth to the distributed traffic market?
The application market on the blockchain has expanded rapidly in the past two years. The on-chain ecology of the blockchain industry has taken shape. 2020 is a milestone year for the blockchain industry. Dapp’s transaction volume exceeded $270 billion, 95% of which came from Ethereum DeFi ecosystem.
According to the data report of DappRadar, among the Dapps with the top traffic of Ethereum, the TVL and aTVL peaked at $13 billion and $11 billion in 2020, respectively. According to the 16 well-known public blockchains, huge growth was achieved in 2020. Unique active wallets grew by 466%, from 58,000 at the end of 2019 to around 200,000 at the end of 2020. Besides, the transaction volume increased from $21 billion in 2019 to $270 billion in 2020, an increase of 1178%.
On the other hand, most transactions occurred in just a few Dapps. The top-10 DeFi Dapps accounted for 87% of Ethereum’s transaction volume, reaching $223 billion in 2020.
The Ethereum DeFi ecosystem is the main driving force for Total Value Locked (TVL). DappRadar has tracked that the Adjusted Total Value Locked (aTVL) recorded a new high in 2020 at $13 billion and $11 billion, respectively.
Ethereum DeFi Dapps Contributed 95% of the Transaction Volume Growth DeFi was the main propeller of Dapp growth in 2020, and it has become the industry leader in terms of key indicators such as TVL, AUW and transaction volume. This is also a key topic discussed by news channels and society, driving users’ attention to summits in April and September 2020.
Google Trends Worldwide:DeFi keyword
TRON is the first blockchain to catch up in developing a DeFi ecosystem. There are more than 70 Dapps built on the network to date. The majority of activity is concentrated within the top three. UniSwap, JustSwap and UME generate more than 5,000 daily unique active wallets and account for 70% of total DeFi ecosystem activity.
Binance Smart Chain (BSC) as a protocol caught up quickly within a few months of its launch and generated approximately $3 billion in transaction volume. While still a relatively small amount compared to Ethereum’s yearly figure of $256 billion, it is close to TRON’s $3.6 billion and EOS’s $6.5 billion figures.
Active Users of Dapp
At present, blockchain application developers prefer public blockchains such as ETH, EOS, TRON, IOST, STEEM, and ONT, additionally side chains such as NEO, OST, and LOOM. However, the formers are widely used and easy to use considering development and maintenance costs.
With the explosive growth of DeFi in 2020, the number of active users of Dapp has boomed, exceeding 7 million at the end of 2020 from nearly 900,000 at the end of 2019. However, there is currently no effective way for users to obtain project information and deliver accurate industry information to target users apart from community dissemination and blockchain media. Moreover, current blockchain media and traditional media still face same problems of traffic fraud, high cost, and low efficiency.
Comparing Blockchains (dapp.com)
The multiplying blockchain user traffic is not used, planned, distributed and re-directed effectively by projects and is left unsolved. Compared with traditional Internet advertising, blockchain traffic features decentralization, distribution, and decentralized sinking. Traffic is the guide for the development of the blockchain industry. Bitcoin, Ethereum, exchanges, DEFI, and IPFS have all grown in the traffic war in their development history.
Distributed blockchain traffic has obvious flaws. In the past, due to the lack of technical support and closed-loop design of traffic, the effective increment of blockchain traffic cannot be realized. The vast majority of the traffic cannot be imported into the blockchain target projects, hampering and slowing the ecological development.
- Date of publication:
- Tue, 04/06/2021 - 20:29
Click on the link - it will be copied to clipboard