Ethereum Dapps Are Nearing 50% of Bitcoin Transaction Volumes – Trustnodes

Ethereum Dapps Are Nearing 50% of Bitcoin Transaction Volumes

0

Ethereum has long flipped bitcoin in transaction numbers. Now dapps and defi may do too with 127,000 transactions performed within 24 hours on Friday.

Today so far it stands at 101,000 transactions according to data from State of the Dapps.

Meaning just dapps on ethereum are handling about 1/3rd of bitcoin’s usual 300,000 transactions a day and often are verging on 50% of bitcoin volumes.

Ethereum dapps transaction stats, July 2020
Ethereum dapps transaction stats, July 2020

Dapps now have 40,000 active users a day, and that’s despite ethereum’s restrained capacity as well as before the contract layer scaling methods have been implemented, let alone sharding in ethereum 2.0.

Some 5,000 smart contracts are now seeing activity in eth, with close to 3,000 dapps running on the network.

Above in the featured image we can see the total number of users, nearing 250,000. Below is shown the growth of just some of the decentralized financial (defi) dapps.

Defi dapps total users, July 2020
Defi dapps total users, July 2020

The above are just some of the defi dapps and their users, with many very new. Like Balancer and Aave for example which launched in just the past few months.

That significant curvy growth is considerably rare for new projects, but not in the popular defi ones where it is fairly typical.

Still it’s just 10,000 users for Aave for example, but these are financial users, money users.

The biggest is DAI of course at half a million total users, including us at some point in our mini test runs, with Uniswap at 90,000.

Good data is difficult to come by however because it is fairly time and skill consuming to compile them, but defi users have grown nearly 5x since last year from about 50,000 to now close to 240,000.

That shows significant potential in this space where crazy things like flashloans happen with plenty left to be discovered as Turing complete eth and its code network keeps on developing.

Comments