The Decentralised Application Economy is to Reach 2600 Dapps

By Mark Lemon – Cryptocurrency Professional

A new report has been released by the firm Fluence on the State of the Dapps Ecosystem, Technology and Adoption 2019, suggesting healthy growth to the industry. 2018 was highlighted to be the year of the Decentralised Applications (Dapps) and statistics from the site State of the Dapps shows strong correlation with this suggestion. The site shows a total number of Dapps now reaching 2,598 with 95k daily active users suggesting demand to buy and sell crypto for these.

A Dapp or Decentralised Application originated from the Ethereum network and was used to describe something that was mostly made up of smart contracts. These applications have no centralised hub or system for processing and instead uses the infrastructure of the network.

Dapps have developed over time to function further for the end user with greater usability. These generally require an input of cryptocurrency to action the smart contract and fulfil its functions. A popular Dapp such as CryptoKitties, a blockchain based video game, is made up of smart contracts which can be actioned by selling crypto through the platform.

The main observation of the report found transactional fees prevailed as the central monetisation model for most projects. Miners are attracted to a network to earn and sell cryptocurrency through mining. Without this incentive as a reward, projects would fail to attract the miners necessary to run and validate the network efficiently.

The report details that 87% of Dapps surveyed run on the Ethereum network, with 19% on EOS and a further 8% using the Tron network. 10% of these Dapps were reportedly in development on more than one chain. Building on more than one network has its benefits as they all have different latency, storage and throughput speeds for processing the smart contracts.

Fluence Labs hopes to develop infrastructure for a decentralised network able to process high-volumes of real-time data for the next web generation. This network will be permission-less with a decentralised consensus.

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