Most Ethereum dapps hardly ever used
There’s a fan article on Trustnodes about Ethereum reaching almost 25.000 full nodes. Halfway in the piece there’s the claim again that Ethereum can handle unlimited transactions through “sharding”.
That is because ethereum follows the big blockers approach. They plan to scale on-chain to unlimited transactions through sharding, while also using layer two networks for those who make recurring payments.
This bizarre “unlimited sharding” claim was made by Vitalik and I already debunked it in 2 pieces called: “Ethereum won’t scale like you’ve been told”. His overselling approach really worked well though as it seems people still take it for truth. Being completely unaware of the “world computer” aspect of Ethereum which you can’t run in parallel like your average multicore PC.
Despite my criticism of the Ethereum scalability aspect I dove into some details on a website called “State of the Dapps”. This website has a very nice overview of all the current Dapps being live and/or in development. With 25k full nodes running 24/7 I hoped to spot some killer Dapp to see where the hype is all about. I already wrote about Etheroll and this seems to be the most active one which I can spot at the moment. It has several “transactions” every minute which you can spot over here. Pray4Prey “The one and only blockchain aquarium” has less interaction. Maybe 1 or 2 a day. Hodlethereum — The world’s first proof-of-HODL (??) has even less activity, maybe several transactions each week.
I remember Devcon 0 (2015) and all the great promises about decentralized dapps like Cryptoswartz and others. Where are they? Is it really that hard to have 1 killer dapp next to all the hype? How can your ecosystem be so small even while the Microsoft CEO publicly supports your idea? If Ethereum was made by Google they would’ve cancelled it already as it still brings nothing new to the table. And it — for sure- doesn’t bring any active dapp-users. Vlad Zamfir must be the most honest guy working for Ethereum right now as even he says there’s not much more than multisig that Ethereum currently brings to the table.
The number of blockchain transactions is still rising exponentially, but it’s not through dapps. According to Vlad the system is limited to 10 or 20 Ts/sec. So even when there’s finally one active dapp it could kill the whole idea of a world computer with only 200 active gamblers as I’ve explained before. From a dapp perspective Ethereum is a ghost town. And from a transactions perspective it’s not more than the hundreds of other blockchains out there.
The state of the dapps website currently lists 480 dapps. So with a 1% success rate we should see at least 4 active dapps. Please let me know if I missed one because I really couldn’t find any.
Ethereum talked about the need for an ecosystem on their blog in 2014.
Imagine if Microsoft released the Xbox and there were no games. On the day on which the Ethereum genesis block is created, many of the elements of the ecosystem — core infrastructure, mining network, user app browser and applications — will be in place.
And there’s more:
Originally, when the idea behind Ethereum was conceived in November, the intent was for it to be a simple “altcoin” (in fact, a meta-protocol on top of Primecoin) with a scripting language built in. Over time, however, as we realized the project’s potential our scope necessarily grew, and our current intent is to release a flagship product called the “EtherBrowser:” a browser that can browse both the old-school Internet and the decentralized web (Web3.0).
I guess they’re stuck being a simple “altcoin” after all.
Don’t believe the hype.