When everyone is talking about DeFi (decentralized finance), the once popular DApp ecology is a bit lonely.
Originally DeFi should also belong to a branch of the DApp ecology, but I don’t know when the fate of DApps has been closely linked to lottery games (ie spinach). The reality is that the entire industry is now focusing on the DeFi field, and lottery games have become obsolete. Affected by this, the DApp ecosystem is no longer as popular as it used to be.
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1. DApp Data Overview
According to data from DAppTotal.com, as of now, there are 4,018 DApps in ETH, EOS, and TRON, including 2,500 DApps in the ETH ecosystem, 655 DApps in the EOS ecosystem, and 691 DApps in the TRON ecosystem.
1) Daily activity
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(Daily activity of DApp in 2019)
2) Daily transaction volume
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(Daily transaction volume of DApp in 2019)
3) Number of daily transactions
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(Daily transaction volume of DApp in 2019)
4) DApp category
After further dividing the total amount of DApps into different types, we have the following findings:
1. ETH The Ethereum public chain is dominated by games, accounting for about 42.54%, while DeFi (financial) which supports the sky of Ethereum only accounts for 3.79%.
2. On the EOS public chain, lottery games are the main ones, accounting for about 54.42%. Lottery games occupy half of the EOS DApp ecosystem.
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2. Overview of key DApp types
1. DeFi DApps
Just like DAppTotal's latest release"2019 DeFi Research Report"As mentioned in the article, 2019 is the first year of DeFi. DeFi has gradually replaced lottery games and become the focus of the industry from a niche field at the beginning of the year. From this point of view, the impact of DeFi on the ecology of Ethereum cannot be ignored. We marked the DeFi projects in the Ethereum ecosystem, and compared the data with the Ethereum main network from the three basic dimensions of daily activity, transaction volume, and transaction volume.
As shown in the figure below: Overall, at the data level, DeFi projects account for a relatively small proportion of the Ethereum main network, whether it is daily activity or transaction volume. DeFi has a high role and value for the Ethereum network, but from the data level It can be seen that the proportion of DeFi is actually not large.
This is because:
1. For DeFi financial products, the frequency of user mortgage and loan operations is not as high as that of lottery DApps, which are relatively low-frequency products. This also explains why most DeFi projects choose to build on the Ethereum network instead of the EOS network with higher performance and processing efficiency;
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(Daily trading volume of DeFi DApps in 2019)
2. Lottery DApp
1) EOS public chain
The EOS public chain was once regarded as a spinach public chain, because lottery games require second-level lottery draws and rewards, and EOS’s second-level packaging frequency can also meet the needs of lottery DApps. For the EOS public chain, the activity of lottery games will directly affect the situation of the EOS DApp ecosystem.
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(2019 EOS lottery DApp daily transaction volume)
2) TRON public chain
As shown in the figure below, just like the EOS public chain, the TRON public chain is also a spinach public chain. What’s more exaggerated than EOS is that the transaction volume data of TRON’s lottery DApp is almost perfectly consistent with the data of the TRON public chain, which means:
1. The TRON public chain completely relies on lottery games;
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3. Phenomenon-level DApp situation
The three major public chains are all looking forward to the birth of a killer DApp application, which will bring a huge number of users and transaction volume, and drive the overall stability of the overall ecological market. However, almost without exception, they did not wait for the killer application in the end. Instead, a killer was summoned.
1）FairWin
FairWin is a "capital disk" platform on the Ethereum network. Its rules are very simple. Users invest 11 ETH in the contract and can get 0.11 ETH in return every day, with an annualized rate of return of more than 300%. 11 ETHs are locked for 5 days, and returned to the account after 5 days, the user can choose not to play or continue to invest.
Obviously, this is a typical Ponzi scheme. The money earned by the people in front comes from the investment of people in the back. As long as people in the back keep entering and participating and the capital chain is in a healthy state, the project can continue to operate.
According to the statistics of DAppTotal, since FairWin went online on July 27, the number of participating users continued to grow. Until the end of September, the number of active users fell sharply, and the balance in the original FairWin contract was emptied. The phenomenon of FairWin funds Level DApp also announced that it has temporarily come to an end.
The reason why FairWin has aroused everyone's heated discussion is mainly because since August 26, the daily Gas consumption of the Ethereum network has been in a high saturation state, and the daily Gas consumption accounts for 10% of the total Gas consumption that the Ethereum network can carry. More than 90%, resulting in abnormal network congestion.
The large proportion of Gas consumption means that the transaction frequency of FairWin users is relatively high, and there is a possibility of artificially increasing the Gas fee to grab the order of betting. This will greatly affect the balance of the original ecological order of Ethereum, and have a direct impact on other DApps on Ethereum.
2）EIDOS
On November 01, Aiden Pearce, who once produced the most powerful airdrop in history, brought a new airdrop project EIDOS online. As long as the user sends any amount of EOS to the smart contract account eidosonecoin, the contract will immediately return all of them to the user account, and will also send 0.01% EIDOS of the balance of the eidosonecoin account to the user account. In fact, it is zero cost to get 0.01% EIDOS. This means that as long as users keep sending transactions to eidosonecoin, they can get project airdrops for free.
According to data from DAppTotal, since the launch of EIDOS, its 24H active users are 1,260, its 24H transaction volume is 1.89 million times, and its 24H transaction volume is 1,770 EOS. Its degree of madness far surpasses existing applications in the EOS DApp ecosystem such as Dice, HashBaby, and EOS Knights.
As shown in the figure above, the DAU reached its peak on the day EIDOS was launched, with about 5,000 participants. The number of active users gradually declined in the following months, but its transaction volume has always been on the rise. This shows that a large number of wool parties are highly motivated to participate in EIDOS mining.
According to the early warning information of the blockchain security company PeckShield, the EIDOS airdrop not only attracted a large number of wool parties, but also caused the CPU price to skyrocket, causing ordinary EOS accounts to be unable to transfer and use normally due to insufficient CPU. In other words, the unexpected popularity of EIDOS has caused the entire EOS network to fall into a state of continuous congestion.
1) The normal transaction behavior of transferring EOS between users cannot be successful;
2) Most users cannot participate in DApp games such as lottery draws, resulting in abnormal congestion of the entire EOS main network.
According to the EOS CPU congestion index launched by DAppTotal, due to the continuous impact of the EIDOS game, the EOS main network congestion index has been in a high saturation state of 100. This will also pose a direct threat to the health and balance of the EOS DApp ecosystem.
3）just.game
The year before last, the Team just team created the game Fomo3D that once detonated the currency circle, which made the Team just team famous. In July last year, Team just announced the transfer to the TRON network. However, it was not until December that just.game came online.
Just.game is also a fund game. Players can spend 25 TRX to buy a box; each box can enjoy the dividends of those who bought the box later, and the dividends can be accumulated without an upper limit; you can actively open the box at any time, and you can get 2 times the dividend, but the box is randomly destroyed; Opening the box and buying the box for the first time will continue the game for 30 seconds; after a round of the game, the last 100 players who bought the box will share a prize pool, and the last player will have an extra reward.
According to data from DAppTotal.com, in the past 24 hours, as of now, Just.game has 4,045 daily active users and a daily transaction volume of 453 million TRX (equivalent to RMB 42.62 million). Driven by it, the daily transaction volume of the TRON mainnet also climbed in a straight line.
But the good times didn’t last long. As shown in the picture above, the daily activity of the game dropped sharply the second day after it was launched. The reason is that 4,045 players participated in the game, but only 32 profited players, accounting for 0.8%. This type of game is originally a fund type, and whether there is a continuous influx of new traffic becomes particularly critical. However, on the first day of going online, it was discovered that most people were losing money, and everyone was waiting to sit in a sedan chair, and no one carried it. This turned just.game into a DApp with a lot of thunder and little rain, and it disappeared after only a day or two of glory.
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4. 2019 DApp ecology past summary and 2020 trend outlook
1. 2019 past summary
Overall, the data of the three key indicators of active users, transaction volume, and transaction times of the three major public chain DApp ecosystems of ETH, EOS, and TRON are all in a downward trend. Growth, on the contrary, the overall data showed a downward trend of depression.
DAppTotal data analysts believe that there are two reasons for this situation:
1) The prosperity of the DApp ecosystem as a whole is directly related to lottery games, but the mode of lottery games is relatively simple, and the user group is relatively narrow. This leads to the development of lottery DApps as well as stock market competition. Form a monopoly on the market, and some nascent DApps lack room for survival. In order to survive, some nascent DApps intervene in the competition with short-term, flat and fast illegal innovation models, but this cannot solve the fundamental problem, and is greatly detrimental to the sustainable and healthy development of the entire ecology. Therefore, success is also a lottery game, and failure is also a lottery game. This is especially evident on the two spinach public chains of EOS and TRON.
2) The new DeFi financial innovation performed well, but it is not yet time to boost the DApp ecology. In the past year, in the DApp ecosystem, DeFi has been thriving, attracting the attention of the industry. But at present, DeFi is only relatively common on the Ethereum network, and it is just the beginning on the other two public chains of EOS and TRON. On the ETH public chain, we have observed through data that DeFi, as a financial product, has a completely different statistical logic from DApp in terms of active users and transaction volume. The data performance at the pure DApp level cannot yet demonstrate the impact of DeFi on the public chain ecology. Boost.
2. Outlook for 2020 trends
In the new year, the DApp ecology still needs to see the further development of the DeFi industry. The current status of DeFi seems to be very small, and the participants are relatively small, but it is the most imaginative space for the application of blockchain technology in the next three to five years. field. Because DeFi is essentially a fat protocol and a thin application, based on the current mortgage, lending, trading, derivatives, insurance and other links, it can be freely combined like Lego blocks, resulting in many unknown and innovative ways of playing and possibilities.
A while ago, the DeFi protocol bZx was hacked due to the flash loan function. On the surface, this was caused by the newly launched flash loan function. In fact, it is a market education opportunity for the innovative mechanism to force the continuous improvement of market liquidity. The similar function of flash loan is just the beginning. I believe that in the next few years, DeFi will have many innovative mechanisms that were not available in traditional finance and could not be imagined. Killer applications may appear at any time.
The competitive landscape of lottery DApps will gradually stabilize, and top lottery DApps such as BigGame, Dice, and EOS Three Kingdoms will gradually form an oligopoly. More developers may try other innovative applications, such as HashBaby that appeared in the past year Although DApp forms such as LoreFree and LoreFree have failed to explore a clear business model, their extended thinking and attempts in traditional fields combined with the characteristics of blockchain technology are worth learning.
In short, 2020 will also be a relatively quiet year for the DApp ecosystem, but whether it is the dusk of the gods or the darkness before dawn, there are still more unknown expectations waiting for us to witness.
