The number of daily active users initiating transactions on individual wallets connected to the Ethereum network increased by 82% this year compared to a year ago. Tron, on the other hand, will significantly increase the number of active individual wallets and 33% more promotions will take place on the block chain.
With such fantastic growth between two projects that include the proportion of decentralized applications related to both gambling and gaming-related gaps, it may seem natural to some that EOS, a platform that includes many applications in both categories and can greatly facilitate transactions faster as the Ethereum network would grow just as fast. Yet the DappRadar report suggests otherwise.
Why did EOS decrease by 61% in active wallets?
In contrast to its competitors in the same report, the number of individual wallets in the EOS network has indeed decreased by 61%. The spectacularly inefficient area of chips, which began with the 2019 explosion but is known as EIDOS, is responsible for the significant network congestion on the EOS platform in the last three or four months of last year.
The number of EOS contracts processed per day fell by 43% in a short period of time . This is because users have figured out that they can automate the sending of EOS tokens to the EIDOS contract on the network and make a quick profit, but as more and more people began to do so, all network resources began to move to air droplet-related transactions.
This effectively increases the cost of executing contracts within the network a thousand times, so the network has slowed down and a significant number of people are frustrated to stop using it all together. Airdrop has had essentially the same effect as what happens when hackers or malicious players in a blockchain network try to launch a so-called DDOS attack. This is when people log on to a network and spam to slow everything down, causing people to lose money, common sense, or both.
Challenges for all three projects
Active wallet usage in the EOS network will continue to decline as 2020 moves forward. Needless to say, a lot of work awaits the network to regain the trust of its most loyal users. Nevertheless, just because Ethereum and Tron are growing does not mean that they are not facing significant challenges either.
The reality is that much of the growth in both networks is tied to a high-risk / high-income industry, gambling. While traditional centralized casinos have virtually a money-printing license and can count on their cash registers to continue building large brick-built facilities, a similar spam situation on the Tron or Ethereum network would yield similar results.
It is also important to note that Tron’s growth in particular depends on gambling and gaming. On the platform, gambling and high-risk uses are responsible for having 83% of all users transfer Tron chips to each other. This is great for gambling as a use case, but ideally a network wants its user base to be diversified, just like any other solid business or investment.
The Ethereum shines there. The platform achieved 163% growth in the Games and Marketplace category. January’s biggest success was a game known as Brave Frontier Heroes, which hosts more than 1,200 active wallets a day. PoolTogether gambling also doubled its user base last month.
What comes next for the gambling-friendly trio?
Not many other altcoin projects can do to knock Ethereum off its perch as the world’s second most valuable cryptocurrency. This is simply because ETH is the original altcoin, and the network categorizes users into different categories so that younger, emerging blockchains can’t get there for a long time, just because of a lack of brand awareness.
Nevertheless, all three of them must prove the same with regard to gambling and gambling. To serve users quickly, allow everyone to play fair, and of course give every player and player a chance to win big.