Open 24/7/365

We Have A Life-Time Warranty /
Guarantee On All Products. (Includes Parts And Labor)

CryptoKitties And Dice Games Fail To Lure Users To Dapps (#GotBitcoin?)

Decentralized apps remain largely inaccessible to the average internet user. CryptoKitties And Dice Games Fail To Lure Users To Dapps (#GotBitcoin?)

CryptoKitties And Dice Games Fail To Lure Users To Dapps (#GotBitcoin?)

Ethereum and other blockchain-based platforms have lured thousands of volunteer developers with the promise of alternatives to Google’s Android or Apple’s iOS that can’t be censored by governments or co-opted by corporations. What they don’t have yet are users.

The creation of decentralized apps, or dapps, has been one of the most hotly anticipated developments of blockchain, the technology that underpins bitcoin and other cryptocurrencies.

Investors have poured billions of dollars into the effort, yet they remain largely inaccessible to the average internet user.

Dapps are similar to smartphone apps and come in just as

many flavors, from social media to gaming to finance.

Proponents of these platforms have said they have the potential to change the way the internet works, bypassing gatekeepers and allowing users to connect to each other directly. Yet users must first download and learn an entirely new blockchain-based operating system, a far more cumbersome process than downloading an app on a smartphone.

Developers have created some 2,700 dapps that have enough data to be trackable, according to a website called State of the DApps. Only three of them have more than 10,000 daily active users. The most active dapp on any platform most recently was Endless Dice, a gambling dapp on the EOS platform that had 28,000 active users on Tuesday.

A big problem is a lack of compelling dapps. About 30 of the top 50 dapps, rated by transaction volume, are gambling apps, according to State of the DApps. By that measure, the top dapp for the past week is EOSJacks, a gambling app on EOS.

While about $29 million changed hands on the dapp, it had just 26 daily active users.

“The present state of the network is not there for accommodating billions of people,” said Benny Giang, one of the creators of a game called CryptoKitties that launched on the Ethereum platform in 2017.

CryptoKitties, which allows users to create and trade unique animated cats, illustrates the hype surrounding dapps. Users flocked to the game at first, lured by the combination of cryptocurrency and Japan’s popular “kawaii” culture of cuteness. In the game’s early days, a CryptoKitty named Dragon sold for $170,000.

The fad quickly faded. Today, CryptoKitties counts only a few hundred daily users, and the digital cats sell for between 36 cents to $15, according to a site called Kitty Sales. Dragon is currently listed for sale for 600 ether, or about $160,000 at current prices.

The frenzy that once surrounded animated cats is part of a broader mindset that fueled the cryptocurrency boom in 2017 and the growth of blockchain-based platforms. raised more than $4 billion for its EOS network. Telegram, the popular messaging app, raised $1.7 billion. Tezos raised $232 million.

The money brought attention and hype, but expectations are running far ahead of reality, especially after cryptocurrency prices collapsed last year.

“It’s very difficult to actually ship something,” said Kathleen Breitman, co-founder of Tezos. “It’s very easy to write a paper about it.”

Tezos is live but still in a largely developmental state.

Telegram’s platform is expected to launch some time this year, but the secretive company hasn’t publicly announced a date.

Accessibility is a big issue for users who aren’t skilled in software development. Apple and Google have spent years perfecting iOS and Android; Ethereum and its rivals are still troubleshooting the myriad technical issues that plague young technology projects. Usability isn’t a priority yet.

“Does it run? Yeah, it runs, like if I built a car,” Emin Gun Sirer, a professor of computer science at Cornell University, said of dapps and their platforms. “It’ll run, but it’s not something you’d want to put your kids into.”

Mr. Sirer himself is working on his own platform, called Ava, designed to solve technical problems such as how best to calibrate a network to handle thousands of transactions per second that is neither prohibitively expensive or centralized.

In other words, like its competitors, Ava wasn’t designed with the average user in mind.

“To the layperson, we all sound identical,” he said. “Even I hate hearing myself saying the same things as all these other people.”

Dapper Labs, the firm behind CryptoKitties, is working on solving some of its usability issues.

One big stumbling block was players’ lack of experience with the digital wallets that store and transfer cryptocurrencies.

CryptoKitties’ Mr. Giang and other developers spent nine months developing a more user-friendly wallet to store players’ funds. It was released two weeks ago.

“That’s a key piece that stops people from coming into the space,” he said.


Related Articles:

Bitcoin Information & Resources (#GotBitcoin?)

JPM Strategists Defines Bitcoin’s Intrinsic Value (#GotBitcoin?)

JPMorgan Chase With It’s JPM ShitCoin Wants To Take On Bitcoin (#GotBitcoin?)

Bitcoin To Be Exposed To Millions With Upcoming “60 Minutes” Segment (#GotBitcoin?)

Grayscale To Investors: Drop Gold (#GotBitcoin?)

‘Craig Is A Liar’ – Early Adopter Proves Ownership Of Bitcoin Address Claimed By Craig Wright (#GotBitcoin?)

Tether Ordered To Freeze Transfers To Bitfinex By New York Supreme Court, Bitcoin Flash Crashes

HTC Smartphone Will Run A Full Bitcoin Node (#GotBitcoin?)

Send Bitcoin Transactions Without Internet Connection

Bitcoin’s Lightning Comes To Apple Smartwatches With New App (#GotBitcoin?)

E-Trade To Offer Crypto Trading (#GotBitcoin)

US Rapper Lil Pump Starts Accepting Bitcoin Via Lightning Network On Merchandise Store (#GotBitcoin?)

Bitfinex Used Tether Reserves To Mask Missing $850 Million, Probe Finds (#GotBitcoin?)

21-Year-Old Jailed For 10 Years After Stealing $7.5M In Crypto By Hacking Cell Phones (#GotBitcoin?)

You Can Now Shop With Bitcoin On Amazon Using Lightning (#GotBitcoin?)

Afghanistan, Tunisia To Issue Sovereign Bonds In Bitcoin, Bright Future Ahead (#GotBitcoin?)

Crypto Faithful Say Blockchain Can Remake Securities Market Machinery (#GotBitcoin?)

Disney In Talks To Acquire The Owner Of Crypto Exchanges Bitstamp And Korbit (#GotBitcoin?)

Crypto Exchange Gemini Rolls Out Native Wallet Support For SegWit Bitcoin Addresses (#GotBitcoin?)

Binance Delists Bitcoin SV, CEO Calls Craig Wright A ‘Fraud’ (#GotBitcoin?)

Bitcoin Outperforms Nasdaq 100, S&P 500, Grows Whopping 37% In 2019 (#GotBitcoin?)

Bitcoin Passes A Milestone 400 Million Transactions (#GotBitcoin?)

Future Returns: Why Investors May Want To Consider Bitcoin Now (#GotBitcoin?)

Next Bitcoin Core Release To Finally Connect Hardware Wallets To Full Nodes (#GotBitcoin?)

Major Crypto-Currency Exchanges Use Lloyd’s Of London, A Registered Insurance Broker (#GotBitcoin?)

How Bitcoin Can Prevent Fraud And Chargebacks (#GotBitcoin?)

Why Bitcoin’s Price Suddenly Surged Back $5K (#GotBitcoin?)

Zebpay Becomes First Exchange To Add Lightning Payments For All Users (#GotBitcoin?)

Coinbase’s New Customer Incentive: Interest Payments, With A Crypto Twist (#GotBitcoin?)

The Best Bitcoin Debit (Cashback) Cards Of 2019 (#GotBitcoin?)

Real Estate Brokerages Now Accepting Bitcoin (#GotBitcoin?)

Ernst & Young Introduces Tax Tool For Reporting Cryptocurrencies (#GotBitcoin?)

Recession Is Looming, or Not. Here’s How To Know (#GotBitcoin?)

How Will Bitcoin Behave During A Recession? (#GotBitcoin?)

Many U.S. Financial Officers Think a Recession Will Hit Next Year (#GotBitcoin?)

Definite Signs of An Imminent Recession (#GotBitcoin?)

What A Recession Could Mean for Women’s Unemployment (#GotBitcoin?)

Investors Run Out of Options As Bitcoin, Stocks, Bonds, Oil Cave To Recession Fears (#GotBitcoin?)

Goldman Is Looking To Reduce “Marcus” Lending Goal On Credit (Recession) Caution (#GotBitcoin?)

Our Facebook Page

Your Questions And Comments Are Greatly Appreciated.

Monty H. & Carolyn A.

Go back

Leave a Reply