According to blockchain security company AnChain, most blockchain DApps, including EOS, are outdated and slow, hard to attract users, and full of robots.
Blockchain DApps are hard to attract users
Most blockchain DApps have a hard time consolidating the user base. Decentralized exchanges face the problem of insufficient liquidity, poor user experience and high latency.
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Most spinach DApps don't offer more appeal than regular smartphone apps, and game DApps lack sufficient reason for users to take further action. At the beginning, CryptoKitties may make many people feel new, but the craze around this DApp quickly faded.
On February 11, 2019, 93% of Ethereum DApps had 0 transactions on the day. For the goal of mass popularization, this is not a positive result, much worse than we think.
According to a blockchain robot report released by AnChain, most of the bleak data about DApp is not even from real users.
AnChain: Robot activity is especially serious in EOS DApps
AnChain uses artificial intelligence to detect any suspicious activity in the blockchain DApps and monitor transactions. The intelligence firm analyzed the “millions of transactions” of the top ten EOS spinach DApps, the largest study of blockchain DApps and robotics to date.
Spinach DApps on EOS accounted for the majority of transactions, accounting for 65%. Their findings are disturbing.
(EOS ranked top 10 DApp's separate accounts and trading robot distribution, image source: medium )
In the first quarter of 2019, 51% of independent accounts were blockchain robots – covering more than 75% of transactions.
“In other words, the amount of trading equivalent to $6 million per day is driven by robots.”
Ethereum has escaped?
The good news for Ethereum is that DApps in the network are not mentioned in this report. The bad news is that the reason for not mentioning Ethereum DApps is that the report states:
“EOS is the #1 DApp blockchain with a weekly transaction volume of $480 million.”
To be fair, the number of EAPs in Ethereum still exceeds that of other platforms. The only problem is that most of them use very low or even zero.
In addition to one of the best performing DApps in EOS, all other DApps are related to spinach and involve a large number of robots. So what does this mean for the entire cryptocurrency field?
As Bitwise said in a report submitted to the US Securities and Exchange Commission earlier, 95% of the cryptocurrency trades are false. If the increase in the number of DApps is an indicator of the blockchain usage, then this It has become untrustworthy data because it has been manipulated by relevant stakeholders.
They may do this by raising the DApp rankings through robotic trading, increasing the liquidity of DApp application tokens, monetizing dividends, and even combating competitors' DApps through traffic congestion.
It turns out that this is not just a suspicion or prejudice – from the current point of view, the application of blockchain DApps is still difficult.