The world of cryptocurrency seems to primarily revolve around distributed applications or dApps. Numerous ecosystems are competing for mainstream traction in this regard. The following six applications prove to be extremely popular on the Ethereum network. Even so, all of them cater to a very niche market at this time.
IDEX (Decentralized Exchange)
There is a growing dismay regarding centralized cryptocurrency exchanges these days. Users prefer decentralized solutions, known as a DEX. IDEX is the most popular dApp on the Ethereum network, primarily because of its DEX-oriented approach. With 817 users in the past 24 hours and nearly 7,000 transactions, there is some notable growth. It also notes the most volume over the past 24 hours with 5,830 ETH.
ForkDelta (Decentralized Exchange)
No one will be surprised to learn DEX’s are all of the rage right now. ForkDelta is the second decentralized exchange on this list, but not the last one. Its 653 active users are quite impressive, although its number of transactions is under half that of IDEX. Surprisingly, ForkDelta’s 24-hour volume sits at 5,248 ETH, which is not that far below that of IDEX. Different solutions for different types of traders, it would appear.
Ever since dApps were first introduced, gambling-oriented solutions gained immediate traction. That is still the case today, as FCK remains the most popular betting app on the Ethereum network. With 443 active users and 4m350 ETH in volume, the dApp continues to grow. One has to wonder if betting dApps are the use cases the industry needs to get mainstream traction.
The second and final betting dApp on this list comes in the form of Dice2.win. As the name suggests, it is a dice game which runs on the Ethereum blockchain. Over the past 24 hours, the dApp welcomed 57 users placing 3,342 transactions. Unfortunately, its volume represents just 550 ETH, which is not necessarily the greatest. Dice games will only appeal to so many users, yet it seems this dApp continues to grow.
Kyber Network (Decentralized Exchange)
Last but not least, it would appear the DEX competition is heating up on the Ethereum network. Kyber Network is in the top six based on its overall volume of 486.1 ETH. That seems quite low for a project with an estimated community of 110,580 users. Just 200 of those were active over the past 24 hours. They each placed an average of just under 2 transactions, which is acceptable. It will take a while until this project catches up to either ForkDelta or IDEX, though.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.