Binance Research Praises Ethereum, Says EOS, IOST Full of Data Manipulation - Today's Gazette - Cryptocurrency, Bitcoin News
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Binance Research Praises Ethereum, Says EOS, IOST Full of Data Manipulation

Growth of Tron and Ethereum’s Blockchain since Inception. Which Performs Better? Details

Cryptocurrency

Binance Research Praises Ethereum, Says EOS, IOST Full of Data Manipulation

In spite of the endless ridicule surrounding Ethereum ERC20 network, the second largest blockchain by market cap remains at the pinnacle in the DApp industry. A latest research just published by the world’s largest exchange, Binance, affirms this.

Although there have been a number of reports claiming that Tron and EOS are already championing the ecosystem, Binance latest research has another view.

In the report, Ethereum was a rated and safe haven with top-notch quality for deployment of decentralized application among other networks which includes EOS, TRON, IOST and others.

Leveraging in data made available by DApp Review, the ‘State of Decentralized Application’ section in the research gave a report on each of the networks.

Average Daily Volume Spent On DApps between January 2019 To July 2019

Ethereum presented an average daily volume of 22,910 ETH circa 5 million USD while Tron recorded 414,061,257 TRX approximately 9.3 million USD, and an average daily volume of 3,533,870 EOS (15.6 million USD) was spent on EOS.

Even though, Ethereum recorded the least number of average daily volume, the report indicated that there are signs of irregularities on EOS and Tron, signifying ‘washtrade’ on the two networks.

While Ethereum average daily volume was shared evenly in the ratio: exchange (39.75%), finance (28.01%) and casino (31.33%), 80% of the on-chain DApp volumes on EOS and Tron accounted for gambling related activities like online casino services.

Average Daily Volume Spent On DApps in July 2019

Still EOS and Tron accounted for the highest number of volume spent on dapps in this subsection with $9.5 million and $9.1 million respectively while Ethereum followed with $7.8 million.

However, it was reported that there were “evidences of data manipulation from some DApps, especially on IOST and EOS.”

Although high transaction and gas fees remain impediment for Ethereum, but the network, per the research, has no form of irregularities or manipulations, making it a reliable network with factual data.

The report affirms that Ethereum has the highest number of tokens on its blockchain, and it is among top three in terms of daily average volume.

The research exempted data relating to high risk related DApps such as Ponzi schemes and other questionable decentralized applications.

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Lawal is a serial entrepreneur, a contributor to Arianna Huffington's Thrive Global , Oracle Times, Coin Gape and a host of other notable news publications. He delved into the blockchain industry due to his longtime love for finance and innovative technology. Lawal's contributions to entrepreneurship can not be overemphasized as he co-created a flourishing African news publication. He hopes to be a venture capitalist one day. Lawal is an unrepentant lover of Blockchain technology, a senior market analyst for Today's Gazette. Contact: lawal.khalid@todaysgazette.com

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