China is Dominating Gambling Dapps, Despite its Strict Policyby@svinsight
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China is Dominating Gambling Dapps, Despite its Strict Policy

by SV InsightNovember 26th, 2018
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Since the development of the blockchain industry, Dapp has become a hot topic.

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Since the development of the blockchain industry, Dapp has become a hot topic.

SV Insight Research analyzed data from “State of the Dapps” from September 12, 2018, to October 18, 2018, and found that gambling Dapps account for most of the Dapps. The team selected the top ten gambling Dapps based on daily activities and discovered that China’s development teams occupy four seats. In addition, for players’ country category, China also has the most players.

Based on the data from “State of the Dapps”, at the end of 18th October 2018, Gambling has the most Dapps among all categories. The total number of Gambling Dapp was 293 before 09/12/2018, but it increased to 467 on 10/18/2018.

The second place is Games which count for 433 Dapps. For the first five categories of Dapps, Gambling Dapp was the only one growing during those two months, others were dropping.

Top 10 Dapps September 2018 to October 2018 (Credit to State of the Dapps)

Case in Gambling Dapp

Among the Top 10 Gambling Dapp R&D teams, China occupies 4 seats, which is BetDice(Hongkong), EOSBet, Lucky Plaza and Funcity. If you go to the APP pages, you will see that these 10 Dapp all have a Chinese and English format, which means the developers realized that Chinese players might be the target customer of gambling games.

There is no specific law against US citizens to gamble online. On the other hand, Chinese citizens are not allowed to attend to online casinos or to participate in online gambling. But there are still some Poker and Dice games online and the major players are Chinese and Russians.

Let’s take one of the most popular gambling Dapp as an example.

FarmEOS became a hit since its launch on October 16, 2018. On October 17, its 24-hr turnover was more than 100 million RMB, which even once exacerbated the surge in CPU resource mortgage prices on EOS. Its success can be attributed to 3 factors:

i. Factor 1: Participating in the game is equivalent to mining. FarmEOS also designed its project Token — — FARM. FARM can only be obtained by participating in the lottery game. After the player participates in the game, he will get the FARM with the equivalent of 1.5% of the betting amount. This can be simply understood as “participating in the game is equivalent to mining”. With FARM, you can receive the bonus of FarmEOS Dapp.

ii. Factor 2: In FarmEOS, FARM is released through Bancor. Because in the Bancor mode, token trading can achieve almost limitless mobility and depth.

iii. Factor 3: In this project, the number of FARM tokens and the weight of dividends are independent. Having more tokens does not mean getting more dividends. The higher the dividend weight of the account, the more dividends are obtained. The dividend weight is not proportional to the number of tokens but is related to the user’s position price.

In Summary, based on the data of “State of the Dapps” from September 12, 2018, to October 18, 2018”, gambling Dapp is increasingly favored by consumers.

Although China is very strict on policy, in the design team and player group of gambling Dapps, China still has a very large proportion. SV Insight Research will continue to focus on the data and dynamics of the blockchain industry and update the latest findings to our blog.