Which Blockchain Has The Most dApps?


There are a ton of different crypto projects that have a lot of dApps. They also flood users with hundreds of statistics and information. They do this to convince users that their project is better than other dApp projects. They do this to attract developers to build on their platforms.

They know that the apps itself increase the platform’s value. It’s also an upside spiral where users and apps will attract more developers. It’s a numbers game. So, which blockchain has the most dApps?

Ethereum has the most dApps. It runs over 2000 different dApps. From gaming to trading platforms to borrowing and lending platforms. You can find all different kinds of dApps on Ethereum.

Why does Ethereum have the most dApps?

So, the main question is why do developers choose Ethereum over other dApp platforms like NEO, TRON, or EOS. The answer is because Ethereum already has many tokens and platforms.

Think about it like this. On which platform would I build a decentralized exchange to trade tokens? On a platform that has thousands and thousands of tokens or a platform where I could trade 10 or 15 tokens.

From an economical viewpoint, the answer is clear. You would take the thousands and thousands of tokens. First of all, this indicates that the project has more users. Second, it indicates that developers are deploying new tokens to solve different problems.

This ends up in an upward spiral. Developers build platforms where users can trade these tokens. Developers see that there are already decentralized exchanges on the blockchain. They choose that platform over others to deploy new tokens.

That is what we saw with Ethereum. Uniswap, Curve.fi, Balancer, and many more decentralized exchanges are on Ethereum. They are on Ethereum because it has a lot of value tokens. Having many apps bring enormous value.

The tokens and platforms on Ethereum provide Ethereum itself massive value. Even more than Ethereum itself if you would calculate the total market capitalization of all tokens.

You could also think about this as an operating system like Windows. Many less would use Windows if there would be no third-party applications for Windows. The apps on the platform give the platform massive value.

Ethereum – Will it continue to have the most dApps?

Because of the massive use of DeFi products, Ethereum has scaling problems. DeFi stands for decentralized finance. These are platforms for trading, borrowing, and lending all different kinds of tokens.

The reason for this is because you have to make a transaction for every interaction with a smart contract. Let’s say you want to provide liquidity to a liquidity pool to generate some extra tokens. A liquidity pool is a pool where users have to give the pool tokens. In return, they get a percentage of the trading fee that the pool generates.

So, every time you would want to withdraw profits now you have to interact with the smart contract. This means you have to create a new transaction.

Ethereums transaction fees exploded because of that reason. You had to pay around $5 to interact with the Ethereum blockchain in the last weeks and months.

For institutional investors who move millions of tokens and coins, they don’t care. It’s a small proportion of what they are moving in value. For retail investors, it is more problematic.

Let’s say you move $100 to a liquidity pool and have to pay a $5 fee. That would be 5% of the value you move. Let’s say the liquidity pool generates 10% per year. You would have to wait over one year to be able to cash out to be even.

$95 * 1.1 = $104.5 (Value after one year in the liqudity pool)

The reason why you don’t break even after one year is that you have to pay the transaction fees twice. Once you deposit your funds to the liquidity pool and once when you withdraw it.

The question is, is it possible to scale Ethereum at a point where it can handle thousands of dApps? The future will tell.

ETH 2.0 gets people excited. Sharding and Proof of Stake should help Ethereum to scale better in the future. But, when will Ethereum get to the last stage and confirm that everything works fine in the new protocol?

ETH 2.0 is now in development for years and finally on the testnet. What most people don’t realize is that they roll out ETH 2.0 in stages. It takes years to migrate to the new version.

When ETH 2.0 hits the mainnet and everything works fine, it boosts the scalability of Ethereum 10x or even far more. The question is, will another platform take the spot of Ethereum before they upgrade?

Most people will stop using Ethereum if they have to pay $5 every time they interact with a smart contract.

Why dApp competitors of Ethereum are more dynamic

New platforms on the market have one huge advantage. They don’t have to maintain code. That means they can create a new product without having to worry if existing or old features still work.

This is one of the main problems that occur with the migration from Ethereum to Ethereum 2.0. Ethereum has to make sure that every dApp still works on the new protocol.

New platforms have it a little bit easier. On the other side, these platforms have no users and no dApps. As mentioned already, developers want to build apps where they can appeal to as many users as possible.

If somehow the new platforms can attract many users and developers, it could be possible that they overtake Ethereum. Even before ETH migrates to 2.0.

If no platform manages to do that until Ethereum migrates, it could be possible that Ethereum takes it all in the future. Let’s say Ethereum scales as good or even better than other new projects. Also, Ethereum has more users and more dApps. What would be the use case of the other platforms? Ethereum would be far ahead of their competition.

  • They would have a huge user base compared to their competitors
  • Ethereum is already trusted
  • Ethereum exists longer than other projects. People think products that already existed longer have a higher possibility to survive in the future. Also called the Lindy effect.
  • Developing apps for Ethereum is user-friendlier for new developers (more tutorials, guides, users already had the same problem and found solutions, …)

Further Readings:


How many dApps does Ethereum have?

Ethereum currently has over 2000 dApps. From gaming to trading to borrowing and lending, you can find all different kinds of apps on the Ethereum blockchain.

Maximilian Groß

I'm a software engineer. I'm the owner of FireStake.com and know the crypto space since 2016. Furthermore, I share everything I learn about crypto on this blog.

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