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Blockchain

Reports Suggest Bots Make A Majority Of The Transaction On DApp

The latest report published by AnChain.AI a blockchain startup, suggest that the majority of blockchain DApps are finding it difficult to strengthen the user base. As per their statistics, almost 75% of transactions on the EOS DApps are automated and are made by bots.

If the reports are believed to be right, then it is a matter of concern like EOS, many other dApp platforms suffer from user deficiency. As per finding by DappRadar, a dapp explorer, in the previous 24 hours, only five EOS DApp had more than 1500 users.

The reason behind maybe they are not compelling enough like smartphone apps to attract the users. They are somewhere failing in the area of mass acceptance; a report says in February this year almost 95 % of Ethereum DApps did zero transaction. The results do not hold good for the future.

The results should not be like this as EOS transactions do not take any fees for transactions.  So, it is clear that people should not be afraid of costs to use automated bots accounts for transactions. Despite what might be expected, the network charges the DApp developer’s storage fees that are to be paid in cryptocurrency.

The most disturbing report by AnChain is that EOS DApp is mostly used for gambling. They make up the highest number of transactions on EOS DApp that accounts to be 65%. The reason behind using the bot account may be for perfecting the gaming strategies. Thousands of transactions become easier if bot account is used.

A report suggests that in the initial quarter of 2019, the transaction volume of USD 6 million is driven by evil bots.

DApp ecosystem is still in its early phases and will take time to mature the sector is still unregulated. Monitoring the transactions made by bots are hard. Until the process becomes standardized, it is better to understand the statistics from DApp ranking sites and take further steps.

Till date, Ethereum is having the maximum number of DApp compared to other platforms, but most of them find very less acceptance. In short, we can say people had high expectations from blockchain DApps, but till now they could not fulfill it.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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