Before you go, check out these stories!

0
Hackernoon logoDo the Top 10 Ethereum Dapps Total Less Than 10k Users? by@Goliath

Do the Top 10 Ethereum Dapps Total Less Than 10k Users?

Author profile picture

@Goliathold techie, new to crypto

very wary of sticks and stones

Ethereum claims to be "world’s programmable blockchain."

Here are the top ten decentralized applications with Ethereum protocol, according to Dapp Radar on May 17th:

Their daily user total is less than 9,000. Total. Feels like that is missing like 3 or 4 or 5 zeros to be the most programmable anything amongst the 4,400,000,0000 active internet users.

I checked the #1 DAPP, Uniswap to confirm usage:

In the last 24 hours, there have been less than two thousand humans who have used Ethereum's most popular DAPP, if I'm reading this correctly. The 24 hour volume of transactions is more impressive at $4,470,874. This puts the average transaction total per daily user at $2,306.96 (i.e. $4,470,874 / 1938) and average price per transaction at $834.43 (i.e. $4,470,874 / 5,358).

I visited Uniswap.com to learn more about what the business does, and saw this:

Then I realized I was supposed to go to https://uniswap.org/

Is "automated liquidity" a euphemism for "free money" ? How many of Ethereum's DAPPs are finance specific? And does that matter? Wide spreading technologies powere applications across many industries, but fintech is also known as an early adopter of many breakthrough technologies.

So I looked into how the internet measures Ethereum Dapp usage versus site traffic:

All that $$$ raised in Ethereum via ICOs.... and not one top twenty thousand digital destination is built as a Ethereum DAPP, apparently. The current market cap of Ethereum is 23,000,000,000, according to Coinbase on May 17th.

Maybe the value of Ethereum isn't the decentralized applications built atop it? Tokenization in theory could help any site, or even a site's sub community, like Reddit creating Moons on r/Cryptocurrency.

Anyways, long-time tech guy here who's new to crypto, and I don't quite understand why Ethereum is so valuable. My internet questions are:

  1. Are these usable numbers accurate? Is there really less than 10k daily users on the top ten Ethereum DAPPs?
  2. What do you think - should I buy ETH?



Tags

The Noonification banner

Subscribe to get your daily round-up of top tech stories!