Development Heats up Between Ethereum & EOS
The battle for the most predominant DAPP platform with over a 1000 users has heated up this past month. The race between Ethereum, with 2 applications with over a 1000 users, and EOS having one application with over a 1000 users, according to DAPP Radar at the time of this writing, is getting intense.
Ethereum has enjoyed nearly a two-year reign as the second most valued chain behind Bitcoin, making it the most highly valued smart contract platform. Most would agree that its most formidable challenger to date is the EOS Blockchain, this chain has been live for little less than 3 months, but, has already made considerable noise in the Blockchain world. The EOS Blockchain was specifically engineered to make improvements in areas that had been pain points for the Ethereum Blockchain, with improvements focused on transaction speed and scalability.
The EOS Blockchain has already surpassed Ethereum in speed, with top transaction speed scores clocked close to 4000 transactions per second. Despite its impressive speed advantage over Ethereum, some critics suggest EOS is an inferior Blockchain due to its centralization, wherein 21 elected block producers run the network, instead of leaving block producing open to anybody, as the Ethereum protocol does.
While the fight for DAPP supremacy continues on, one central point of focus is the actual amount of people using the DAPPs running on the networks. In the last month, the race has tightened dramatically as the number of DAPPs with over a 1000 users, is 2 and 1, for Ethereum and EOS respectively. When it comes DAPPs with over 300 users, Ethereum’s lead grows slightly, with Ethereum at 6 and EOS at 3.
Despite not having a single DAPP with more 3000 users within a 24 hour period, both chains maintain multi-billion dollar market caps. This situation has many crypto-analysts believing that all that either one of these chains needs is, perhaps, only one or two so-called killer DAPPs (a viral DAPP that gains a user-ship into the tens of thousands) to gain the advantage over the other chain. Despite EOS existing for just a fraction of the time that Ethereum has, both chains have a comparable number of running applications, causing many to look to EOS to deliver the first viral Blockchain application.
We took a look at one well known EOS project, which is working on what they expect will be Blockchain’s first viral DAPP. The project is called the CHALLENGE-DAC, it is a
decentralized, autonomous community that builds decentralized applications which reward users for engaging in positive lifestyle activities. The project will eventually release multiple DAPP’s over time, but, it is bestowing the name of “CHALLENGE” to its debut DAPP. The team will finish the beta version of its application in the coming days, and expects that it will contain all that is needed to become a killer DAPP. The DAPP will allow users to get paid for getting into shape by attending their local gym or health clubs. The project expects that the DAPP will be available in both IOS and Android stores once their final version is released. The DAPP will be free to use with first-time downloaders, with no need for users to have a preexisting cryptocurrency account of any kind to be able to use the application, setting it apart from most Blockchain projects to date, and making the application open to a wider group of people, those who are not currently using any crypto accounts. First-time downloaders will also be able to receive a limited number of the project’s native tokens, CHL, just for downloading.
The CHALLENGE DAPP has caused a lot of excitement, not only because of the application’s ease-of-use, and its novel incentive structure which will onboard new users, but, also because of its impressive and innovative marketing strategy. The team, savvy in the use of social media platforms, will reach an audience of millions through their collaborations with Youtubers. This strategy alone, will allow the project to quickly reach more than the number of people necessary for the application to gain a user base of tens of thousands. Although it is not certain when and where the first killer DAPP will appear, it is becoming more evident that a viral DAPP, such as the CHALLENGE DAPP, may be all that is needed for a platform to gain supremacy.