Available data suggests that 394 decentralized applications (dApps) built on blockchain-based platforms have been abandoned. This means that about 17.2% of the ecosystem’s 2,281 dApps have had no activity in the last year.
According to data published by State of the Dapps, these abandoned applications are built on most blockchain-based platforms, including that of Ethereum (ETH), EOS, POA, and Steem. The relatively high number may not be alarming, however, as the total number of dApps has been growing at a rate of over 100 per month since February.
The compiled data seemingly doesn’t include dApps built on other networks, including the increasingly popular TRON network that already has over 60 decentralized applications. TronDice, a popular gambling dApp built on it, has already paid its users out well over $5 million in TRX.
Interestingly, EOS’ 122 dApps have a total of 48,000 daily active users who process 1.66 million transactions per day, while Ethereum’s 2,254 dApps have 15,000 daily active users who process 64,000 transactions per day. POA’s decentralized applications have 19 daily users, while Steem’s 49 have 0.
While the EOS network appears to be dominant when it comes to dApp usage, reports have suggested that it has over 200,000 dormant accounts that could have initially inflated its numbers as 63% of its over 500,000 users may now be inactive.
As covered, some of the dApps in these platforms have tiny user bases that contrast with their multi-million dollar valuations. Since the dApp industry is still in its infancy, however, some have suggested that their valuation is currently unpegged from their underlying fundamentals.
Renowned economist Nouriel Roubini, a well-known cryptocurrency bear, has in August of last year claimed decentralized applications are Ponzi schemes, and that “decentralization is a myth.”