RATE Group | Why Ethereum application adoption is on the rise
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Why Ethereum application adoption is on the rise

30 Jan Why Ethereum application adoption is on the rise

Posted at 19:00h in Ethereum News by

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The number of applications built on the Ethereum network is soaring as more people tap into the decentralised finance – or DeFi – trend.

A report by Dapp.com reveals Ethereum had more than 1.4 million active decentralised application (dApp) users last year, up from just over 800,000 in 2018. Of these, 1.28 million were new users and 137,000 were returning users.

The research also shows that of the 1,445 new dApps that were launched on the six largest smart contract platforms in 2019, a substantial 690 were Ethereum based.

The report mirrors earlier data from DappRadar, which shows Ethereum grew the daily user base of its dApp ecosystem by a huge 118% in 2019.

Finance sector takes charge

A deeper look at Dapp.com’s figures suggests it is the finance sector that is driving Ethereum application adoption.

Just over a quarter (26%) of active users were from finance – just ahead of exchange (23%). Likewise, 40% of the total $2.3 billion volume came from finance, 29% from exchange, and…

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