Listen Here – https://soundcloud.com/cryptodaily/eos-vs-eth
Rivals in dApps, market cap and just about everything else, Ethereum and EOS, have recently seen a huge increase in the level of traffic on their respective dApp networks. With such huge levels of traffic now evident on the Ethereum and EOS networks, we should consider how this will pan out for the future of the pair. Many consider Ethereum and EOS to be direct rivals, however the future looks bright for the pair in union too. There is every chance that Ethereum and EOS, together, could totally change the way dApps are built and managed in the future.
According to findings by analyst and Twitter user Kevin Rooke (@kerooke), yesterday saw over 65,000 active users between the Ethereum and EOS networks, which marks a new all time high for traffic on the pairs own networks. Incredibly, a very large majority of these users came via the EOS network.
What does this mean?
As we can see from the data shared by Rooke, there is an awful lot of interest in the use of decentralised applications. This is anything from decentralised exchanges, to online games and collectables like Cryptokitties. This is important because it proves that there is a growing demand for blockchain projects like Ethereum and EOS that provide a platform for the production of dApps.
dApps provide very versatile options for the blockchain. The technology that drives dApps is thanks to the transparency and decentralised nature of the blockchain, a nature that is clearly starting to pay off with such a huge spike in the use of dApps.
dApps are giving these projects new uses, uses that in turn are allowing the projects to grow. This doesn’t come without problems of course, as we know, the sheer number of dApps on the Ethereum network is causing Ethereum issues when it comes to the authentication of transactions. Ethereum is slow and is considered to be clogged, up, a plague that is yet to truly trouble EOS. As these projects grow, EOS and Ethereum will get better at handling the increase in dApps, the networks will grow, and the networks will handle more traffic.
We could see EOS and Ethereum hitting double this amount of traffic in a years time!
Will this impact values?
This is the big question. Naturally dApp use doesn’t have a huge impact on the value of the currencies, however we do have to consider how increased interest in dApp use will contribute to increased interest in the projects on the whole. With more people using EOS and Ethereum dApps, we can only assume that more people will be inspired to actually invest in the projects and the EOS and Ethereum tokens. Moreover, many dApps do also encourage and even require some form of investment (take Cryptokitties for example).
With more people using the dApps, more people will be inspired to invest. With more people investing in the projects, more money flows in and when this happens, prices fly.
If the EOS and Ethereum networks continue to grow at this rate and continue to attract such huge levels on interest with regards to dApps, the value of the two currencies will fly too. This time next year, EOS and Ethereum could be in a very interesting position indeed.