Ethereum’s novelty as a decentralized computing platform attracted significant attention from developers and proponents of building genuinely decentralized Internet infrastructure. Ethereum has become so popular that Github’s Annual Octoverse Report reveals it is the fifth fastest-growing open-source project on its platform in the world.
However, Ethereum’s scalability woes have led many application developers and businesses to search for an alternative that is not subject to high fees and endemically low user numbers. EOS emerged as a viable alternative to Ethereum following its record ICO as the platform designed to scale for decentralized applications.
At Sara Technologies, we realize that developers want to build decentralized applications (dApps) now and that EOS is one of the best options for creating scalable dApps today. We even offer many tutorials for EOS development and can build sample smart contracts for you on an EOS Testnet as part of our services.
EOS Dapps Gaining Traction
Daily active users and transaction volumes of dApps on EOS have been surging lately, particularly when compared to the trend of Ethereum dApps. According to DappRadar, only 1 Ethereum Dapp — decentralized exchange IDEX — had more than 1,000 users in the last 24 hours. Conversely, EOS has 9 dApps with more than 1,000 users in the previous 24 hours, with the top dapp at nearly 5,000 users.
Transaction volumes show the same trend. The top 3 dapps on EOS account for roughly $40 million in transaction volume in the last 24 hours compared to only approximately $2.5 million for the top 3 Ethereum dapps. The metrics align with the general sentiment towards Ethereum dapps over the last few months as gas costs have become prohibitively high, and there is a severe user retention problem.
The natural trade-off that users need to discern between Ethereum and EOS is whether they place a larger emphasis on decentralization or scalability. Ethereum’s planned transition to proof of stake consensus and other scalability developments — such as Plasma — may change this, but developers and users are seeking better alternatives for now. EOS is an excellent option considering it has zero fees, can scale to thousands of transactions per second, and can support millions of users concurrently.
We believe that choice should be up to the user, so we offer development solutions for both Ethereum and EOS.
EOS dApps have a much higher user retention rate as the platform offers a familiar environment for mainstream users, no fees. Transacting on Ethereum can cost a few cents to sometimes several dollars. Users of centralized dApps from companies like Apple and Google are not familiar with this structure. It is a considerable deterrent to transition from free applications to ones that cost money for each action taken.
Users on EOS are not subjected to this type of fee and can interact with games, gambling, or exchanges with a similar experience as traditional dApps. Further, the underlying DPoS consensus of EOS enables it to scale similar to mainstream app services on the backend, with faster transaction times and the ability to support more users.
The web toolkit for interface development for EOS is also handy for obfuscating some of the more complex underlying mechanisms of the blockchain network. There is a high barrier to entry for many users with cryptocurrency platforms, and it is important to continue to develop user-friendly interfaces for their ecosystems. The front-end design and interface of an application are essential components in maintaining a strong user retention rate and are something we view as vital for blockchain development.
Whether you’re looking to build a scalable dApp on EOS, run sample contracts on the Testnet, or learn more about the EOS ecosystem with some tutorials, we have you covered.
Other Services that We Offer: