Ethereum Is Still the Number One Decentralized Application Network, Report Finds


The Ethereum (ETH) network is still number one when it comes to decentralized applications (dApps) in the cryptocurrency space, despite the rise of so-called “Ethereum killers.”

According to a report published DAppRadar, a website that tracks the most popular decentralized applications, Ethereum is leading the decentralized application space thanks to its developer activity.

This year, active wallets engaging with Ethereum dApps reportedly rose 118% to over 19,000 by mid-December, while the total value of activity within them rose by 166% to $7.2 billion. DAppRadar noted that as the ecosystem matured, ERC-20 tokens and not ether itself accounted for the majority of the value generated on the Ethereum network.

Ethereum, according to the report, is also the only blockchain to “successfully grow dApps” across four main categories, which include decentralized finance (DeFi), decentralized exchanges, games and gambling platforms, and high-risk platforms like those believed to be Ponzi schemes.

The report reads: