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EOS SUFFERED A HUGE DAPP USER DROP OUT, LATEST REPORT FINDS

The Rundown

  • EOS Daily Active Users Haven Fallen 80%
  • Users Double But Retention Rate Poor
  • Key dApp Growth Areas

The latest annual dApp Market Report by Dapp.com says that the number of daily decentralized application (dApp) users on EOS has crashed 80% since last November.


EOS DAILY ACTIVE USERS HAVEN FALLEN 80%

On the 6 largest smart contract platforms, the report records a total of 1,445 new dApps launched in 2019. 690 of these were Ethereum-based, and 411 built on Tron. These two platforms have also started to pull ahead in terms of user numbers, forming a gap between themselves and EOS. According to the report,

Prior to November, EOS was the blockchain with the largest number of daily active users. There was an average of nearly 80,000 (79,749) users using dapps on EOS every day. Ever since EIDOS has launched, EOS’s DAU has dropped dramatically to an average of 15,363, which is an 80% decrease.

This is made worse by the fact that daily active EOS dApps have also fallen by as much as 30% since November too. Overall, this demise is likely due to the fact that a number of EOS’ leading dApps, including EOSbet and Karma, left the blockchain to join Wax’s platform instead.

However, what’s interesting is that, in terms of transaction value, EOS generated a volume of almost $5 billion. This comprised of nearly 50% of the total volume and took the top spot in 2019.10 BTC & 20,000 Free Spins for every player in mBitcasino’s Winter Cryptoland Adventure!

EOS also had the highest proportion of active dApps in 2019 despite the crash, at 479 out of 493, or 97%. Ethereum had the lowest proportion of active dApps at just 62%, although some of this can be accounted for by early dApps which have fallen out of usage.

USERS DOUBLE BUT RETENTION RATE POOR

According to the report, the number of active dApp users in 2019 is 3.11 million, compared to 1.48 million in 2018. Whilst this is over double the total number of users, 2.77 million of these were new users in 2019. Only 348,000 currently active users were also active in 2018.

This gives a not particularly impressive retention rate of 23.5%, or just 11% of current users who have been around since 2018.

However, the dApp landscape of today is much different from that of 2018. With an increase in active dApps across the board, one assumes that today’s users have several more compelling reasons to stick around.

KEY DAPP GROWTH AREAS

One of these reasons is the growth in Decentralized Finance (DeFi) dApps. Excluding decentralized exchanges, the number of DeFi dApp users has grown by 610%, and the transaction volume has increased by 251%.

Other areas in which dApps user and volume growth has increased the most are gambling, high-risk dApps, and gaming products.

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EOS

Dan Larimer of EOS.IO (EOS): VOICE to Be Fairer Than Steem (STEEM)

Daniel Larimer, CTO of the Block.one team behind EOS.IO (EOS) blockchain, decided to make things clear about the token economics of its anticipated VOICE content platform

The charismatic leaders of the Block.one and EOS.IO (EOS) blockchains are well-known as passionate polemists. Daniel Larimer has decided to prove it once again and to respond to all negativity that has been spread about the EOS-powered content distribution product, Voice.

No chance for self-voted content

First of all, Mr. Larimer dismissed concerns about the content promotion mechanism in Voice. He said that working on SteemIt (STEEM) taught him about the problems of token-weighted voting within a ‘one user-one vote’ promotion mode.

That's how Voice platfrom interface looks like

Image via EosGO

Thus, according to Mr. Larimer, the Voice system will be resistant to the ‘self-promoting’ manipulations as well as ‘organized’ voting for content that is not well ‘liked’. Moreover, the maximum quantity of ‘likes’ for certain posts will be limited to avoid such attempts.

As a result, users that collect many tokens won’t be able to get richer unless he or she has published highly valuable content. All of the strategies of ‘self-voting’ that cause widespread inflation of rewards on SteemIt will be detected and rejected by the system.

Categorization and filtering

Within the initial phases of operations, or ‘beta period’, the Voice platform will have only a couple of categories the content will be uploaded onto. In addition, Mr. Larimer has a program to revolutionize content categorization based on community-driven contribution.

The developer admitted that the current Voice filtering algorithm is derived from the Reddit Hot scheme. After further development, this will be replaced by a native one to ensure permanent rotation of content even with a small number of content producers

As previously reported by U.Today, the Voice platform received some negativity from the community once its KYC/AML-restrictions were disclosed. To meet the requirements of the U.S. SEC, the strictest financial watchdog in the world, Block.one may ask its potential users to provide a government-issued ID and proof of address.

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EOS

EOS Price Analysis: EOS/USD finds support on the SMA 20 curve as bears retain control

  • The Elliott Oscillator has had two green sessions following nine red sessions.
  • After failing at the $4.40 resistance line, the bulls are struggling to keep the price above $4.

EOS/USD daily chart

EOS/USD daily chart

EOS/USD has had a second bearish day in a row as the price dropped from $4.13 to $4.07 in the early hours of Tuesday. Presently, the price has found support at the SMA 20 curve. Earlier this Monday, EOS/USD failed at the $4.40 resistance line and dropped to $4.13. The MACD shows decreasing bullish momentum, while the RSI indicator is trending around the neutral territory The Elliott Oscillator has had two green sessions following nine red sessions, showing that overall market sentiment could be bullish.

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EOS

EOS In A Route Of Losing Its Governance: Reports

Analysis by Binance Research, the governance of EOS fades with the benefits of decentralization.
Raised from the global leader in high-performance software, the company Block.one developed a protocol which is termed as EOS.
Per the intense market research and analysis by Binance Research, the governance of EOS fades with the benefits of decentralization. The reason behind the lack of governance of this third-generation blockchain protocol sums up with many reasons out of which Binance Research comes up with some of the major intentions.

Its latest report, the governance of EOS could miss out on the benefits of decentralization due to some of the acute reasons.

EOS a delegated Proof of Stake consensus network, frequently spotted as a victim of its governance; however, the largest EOS holders combine their positions and hold all the powers.

What is EOS?

Raised from the global leader in high-performance software, the company Block.One developed a protocol which is termed as EOS. This product was officially launched in June 2018 and proved to be the next-generation open-source blockchain protocol with industry-based transaction speed build for both public and private usage.

With the traction of growth in the price and ecosystem, EOS proves to be one of the most popular blockchains for dApp development.

What are the key reasons behind this issue?

Owning to the most powerful framework of decentralized application, EOS has been labeled as a culprit for its governance. Binance Research, one of the leading professionals in the crypto investment analysis industry, conducted the assessment in a three-fold manner and suspected in its latest report the performance of EOS concerning Collusion Resistance, Fault Tolerance and Attack Resistance.

Concerning Collision Resistance, EOS strengthens consolidation by vote trading and selfish act, whereas some of the individual companies like block.one or proxies have the leverage to change the votes radically.

The governance of EOS lacks in the method of vote trading. The impulsive structure of EOS strengthens by promoting vote trading and selfish acts.

Moving towards fault tolerance, these operational metrics proved that 2 out of 3 exchanges operating as block producers had poor performance amongst the 21 block producers. This could be one of the reasons where failures occurred.

Lastly, in regards to Attack Resistance, two clusters of block producers came out, which revealed a correlation between a regional distribution and voting patterns.

As a whole EOS, the third-generation blockchain is experiencing many issues about its governance such as low votes, insignificant transparency, poor resistance to Sybil attacks and also, changed block rewards.

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