An article appeared on cryptomode.com that analyzed the current market for DApps and how they are being used.
At the top of the list is the number of DApps available. On this end, it comes as no surprise that Ethereum is crushing it. From the start, that blockchain had more development on it than any other and this continues. The recent explosion of DeFi only added to the appeal that Ethereum has to developers.
EOS, which was touted as the Ethereum killer, comes in a distant second.
Hive is know for its loyal user base. As the above table shows, Hive does not have a tremendous number of DApps. Those that exist are heavily used, at least for this industry. When it comes to the most transactions, Hive is ahead of the others, and by a decent margin. Outside of EOS, it obliterates the number of transactions of all the rest.
Hive has a lot of activity. Only EOS, with over 700K transactions per day, even comes close to Hive in this regard.
The final table is one that shows transactions volume. Here, Tron takes the lead.
This is the area that Hive falls short. Again, this should come as no surprise considering the type of DApps being used. There is not tremendous volume being conducted through the DApps. Most of the transactions being done are Custom JSON which carries no volume whatsoever. The games have their own tokenization process that does not go through the Hive blockchain.
Those blockchains that have a lot of gambling will see higher volumes. Hive offers the ability to do micro-transactions, something that is not discussed enough. Thus, using a tipping program to send 1 HIVE is not going to match up well to a gambling DApp where people are placing larger bets.
Personally, I believe the number of transactions will keep growing as some of the games that are in development start to tie into the blockchain. Custom JSON transactions will likely dominate Hive's future. As we saw with Splinterlands, one game can add a couple hundred thousand transactions a day. When the next version of Cryptobrewmaster comes out, it will have all its in game activity registered on-chain.
The fork from Steem only took place a few months ago. Being such a new chain, albeit with an "old" community, it is making tremendous strides.
Ultimately, HIVE is a technology based cryptocurrency. This means it is dependent upon development and activity. Over time, as both grow, we will see that reflected in the user experience. That is what will translate into currency appreciation.
Hive was always about what was build on top of the blockchain. Unlike Bitcoin which can serve as a speculative asset that captures the attention of millions, including some big name players, Hive was going to fly under the radar in that regard.
That said, as we can see, in Hive's realm, it is holding up strong. The more recognized blockchains have a great deal less activity than Hive. What is interesting is that Ethereum, with its low volume, is, according to an article yesterday, starting to suffer capacity issues. It appears the DeFi activity is beginning to overload the PoW chain.
Hive has no such concerns. The blockchain, with its present volume, is not struggling to process any transactions. Users are not finding their transactions delayed at all. From what I saw, everything is going through in the same amount of time as usual.
It is nice to get some attention every once in a while, even if is rather small. Hive has a lot going for it and this is a marathon. Too many want to turn it into a sprint where everything happens instantly. Unfortunately, as much as we all want the moon, development takes a lot of time. After that, sound business practices such as marketing need to occur.
For those who take the long-term view, what is being seen is encouraging. Focusing upon the process is often where we see the results of growth taking place. Sometimes there are no shortcuts.
The full article and tables used here are found:
https://cryptomode.com/tron-dominates-the-dapp-transacton-volume-hive-has-the-most-transactions/
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