TRON investors have reason to celebrate. While the entire cryptocurrency market is experiencing a bullish turn-around, with coin prices entering their second straight week of increase, TRON is also showing signs of considerable adoption.
According to a report published by analytics website DApp.com on April 9, TRON has the fastest growing decentralized application (DApp) user base of any cryptocurrency network on the market. The report, which looked at the growth of cryptocurrency decentralized applications development and users throughout the first quarter of 2019 concluded that TRON is building the most momentum. Of the four cryptocurrencies analyzed–Ethereum, EOS, Steem and TRON–which account for almost 100% of DApp creation and activity, TRON led the rest in terms of monthly active users.
TRON DApps had more than 300,000 active users, with EOS ranking second with an active user base of 260,000. The report also found that 15% of TRON wallets created during Q1 2019 belonged to DApp users, which accounted for a 50 percent increase since the start of the year, giving indication that more users are not only purchasing TRX, but are doing so with the intention of participating with DApps. More telling on the state of TRON DApp adoption was the statistic that 80 percent of TRON DApp users sent at least one transaction during the last 3 months.
The report also examined the state of Ethereum’s Decentralized Application marketplace, which has historically been the most robust and at one point was the primary DApp network available to users. While the percentage of Ethereum DApp users actually fell 4 percent in the first quarter of 2019 compared to last year, the Ethereum network accounted for the majority of new DApp creation and development. Of the 504 DApps created during Q1 2019, over half were based on Ethereum’s network. Even though Ethereum may be experiencing a decline in the percentage of Ether holders using DApps, developers continue to look to the platform as a primary means for creation.
DApp.com reports that, in addition to the growth in Ethereum-based DApps and the overall decentralized application marketplace, multi-chain development is on the rise, “many Ethereums dapps [expanded] on multiple chains, such as Ethereum + EOS or Ethereum + Tron.”
Overall the four blockchain platforms accounted for $3.2 billion in total transaction volume through the first 3 months of the year, with EOS and TRON accounting for the largest number of transactions. Gambling DApps continues to be the industry darling and catalyst for growth, with DApp.com reporting gambling brought “nearly 350,000 users to the dapp ecosystem” during Q1 2019. Gaming and exchanges registered equal amounts of new creation, bringing in an additional 90,000 new users to the DApp marketplace.
Earlier in the month, the TRON Foundation released a statement encouraging developers and users to respect the governing laws of their region, specifically highlighting the ban on gambling applications in Japan. Nonetheless, there DApp user growth has continued to outpace the market, with the network also experiencing its highest single-day transaction volume of all time on March 15 at over $91 million.