According to DappRadar’s metrics on ETH and EOS dapps, the top 10 EOS dapps in both 24-hour users and weekly transaction volumes have surpassed the corresponding ETH metrics by a substantial margin.
Currently, the total combined top 10 EOS dapps users by the last 24-hours sit at roughly 13,500, while the top 10 ETH dapps by 24-hour users sit at approximately 6,300 combined. The top 10 EOS dapps are effectively doubling the combined 24-hour users of ETH dapps at the moment.
Further, the top 10 EOS dapps by combined weekly transaction volumes total roughly 2,721,000 transactions while the top 10 ETH dapps by combined weekly transaction volumes total just under 367,000. Again EOS dapps have substantially larger transaction volumes than ETH dapps in the top 10, equating to approximately 7 times the amount of transactions as Ethereum over the last week.
EOS Dapps Emerging
There are some important qualifiers to take into account on the front-end when measuring dapp activity by user transaction volumes over the course of 7 days. Primarily, dapps have different designs, and some may require significantly more transactions than others, thus muddling the metric. However, with the top 10 EOS dapps accounting for more than 7 times as many transactions as ETH dapps over the last 7 days, such a qualifier does not account for the enormous difference.
This is especially true when analyzing the 7-day transaction volumes of similar dapps on both platforms such as gambling ones. For instance, EOS Bet is mainly a dice gambling game on EOS that has a 7-day transaction volume of approximately 1,372,200 at the time of this writing. Compared to Ethereum, both dice2.win and Etherolle are similar provably fair dice games, but only have 44,500and 16,700 7-day transactions volumes, respectively.
Comparing Ethereum to EOS in a broader context mostly focuses on decentralization vs. scalability. EOS is clearly less decentralized than Ethereum with some concerns about its initial governance, but the numbers suggest it is rapidly becoming more popular for dapps. With EOS’ more centralized architecture comes greater scalability. The reasons for why EOS dapps are surging are likely widespread and nuanced. Possible explanations including its novelty for scalable dapps, the popularity of new dapps that come with spiking user numbers, and general interest from users who are tired of Ethereum’s scalability problems.
Further analysis of DappRadar’s metrics will confirm the insights provided by user activity and transaction volumes when analyzing the 7-day volume of ETH and EOS spent on the top 10 dapps. The combined total of the top 10 EOS dapps had a 7-day EOS volume (in USD when multiplied by the current price ~ $5.11) of approximately $52,947,000. Conversely, the combined total of the top 10 ETH dapps had a 7-day ETH volume (in USD when multiplied by the current price ~ $211) of approximately $3,346,300. It appears that the sheer dominance of EOS dapp metrics at this point cannot simply be accounted for by qualifiers with the metrics for EOS and ETH dapp usage themselves. The total 7-day volume of EOS dapps in the top 10 is nearly 16 times more than Ethereum, a remarkable difference.
Whether or not this trend is going to continue in the long-term is yet to be seen, but DappRadar provides some unique insights into dapp trends and user sentiment for both ETH and EOS. Ethereum’s scaling solutions should come into effect in stages over the next couple of years, but it appears that many users are selecting EOS as their dapp platform of choice rather than Ethereum recently.