EOS, Tron Have Effectively Become Blockchains for Online Gambling dApps

EOS, Tron Have Effectively Become Blockchains for Online Gambling dApps

TL;DR: According to research by Diar, the vast majority of EOS and Tron uses are for gambling-related decentralized applications (dApps). And while gambling dApps were certainly thought to be a use-case, it’s doubtful the billions invested into both blockchains expected online wagering to so dominate. 

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EOS, Tron Have Effectively Become Blockchains for Gambling dApps

The promise of dApps was expansive, unlimited, according to their proponents. And so when EOS and Tron entered the ecosystem, the race was on to develop decentralized applications. It turns out, they’re used mostly for online gambling.

EOS, Tron Have Effectively Become Blockchains for Online Gambling dApps

“After raising, purportedly, a whopping $4.2Bn in a token distribution sale,” Diar explained, “EOS in 8-months has taken over the reigns from Ethereum accounting for nearly 50% of US Dollar traded volume on Decentralized Applications (Dapps) since the platforms launch. As of January this year, to date, EOS Dapps are accounting for 55%, Tron 38% leaving Ethereum applications with a mere 6% of total on-chain USD volume.”

Over 70% of all EOS transactions are for online gambling, and a massive 95% are for Tron. By comparison, the grandaddy dApp oriented blockchain, Ethereum, has a mere 2%.  However, “Ether on-chain transactions are however at an all-time high (Diar, 21 January). Financially driven projects such as Maker/Dai, Compound, dYdX, and Stablecoins have found sanctuary on the Ethereum blockchain,” Diar noted.

High Volume

Some of the earliest uses of bitcoin involved gambling, as users tried to figure out how to navigate the currency. The difference with Tron and EOS is the amount of investment sunk into both chains, and the volume they’re experiencing seems to be wholly related to the inherent back and forth nature of gambling. That seems very far from a financial revolution.

EOS, Tron Have Effectively Become Blockchains for Online Gambling dApps

“While Ethereum alone transacted over $7.6Bn on-chain for Decentralized Applications (Dapps) in 2018,” Diar concluded, “largely coming from Decentralized exchanges (DEX), adoption has been dwarfed by rival platforms. EOS and Tron Dapps now account for 94% of US Dollar volume across the three major blockchains having won over gamblers. Close to $13Bn has been transacted on the three main active blockchains, Ethereum, EOS, and Tron in 2018. In January to date, $1.5Bn in value has already been transacted on the ledgers.”

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