Cryptocurrencies

Two Minute Crypto – 2019 The Year of the First Killer Decentralized Application

Please click below to listen to this episode of my weekly crypto podcast ‘Two Minute Crypto.’ These are intended to be short, single-topic ramblings on some aspect of the cryptosphere. Comments and critiques welcome.


Transcript

Welcome to Two Minute Crypto – and my one and only broad stroke prediction for 2019. This year, likely late this year will see the emergence of crypto’s first wave ‘killer application’. By first wave I mean the application will dwarf current dApps for usage, numbering in the many tens of thousands rather than thousands. Let’s call it 100 thousand daily users. Tiny in the scheme of current centralized applications which summon daily users in the many millions on but as in most processes, momentum starts small and it is only over time that pace really picks up.

So a Killer dApp? Who, what, where, when, why? Good questions all.

As to who or what? My best guess is in the area of gaming, gambling or social sharing platform. In one of these three areas, a dApp will emerge that takes crypto from the very few to the somewhat many. To take the current busiest chain as a reference point – EOS sports a game entitled EOSKnights that regularly sees more than 5k daily unique users. Also on EOS the gambling dApp DICE sees somewhere between 2 and 3 thousand players each day. These numbers are a start but hardly compelling and yet they are an order of magnitude above the numbers reported by Ethereum dApps. The next gen. of gaming/gambling or social media applications will leapfrog these numbers and bring 100k daily users into view. First wave, sure – market moving probably not, at least not more than local token price appreciation.

As to when? Late this year 3rd or 4th quarter. Why so late? Well for a plethora of reasons but key among them being that scalability is still an issue for each and every mainchain – more needs to be done but many talented developers are doing just that. Their collective labour seems more likely to pay off later in the year.

And why? Pent up demand, there are currently many hundreds of thousands of keen crypto enthusiasts admittedly spread across a wide range of different chains. Nonetheless, the first dApp to scratch the collective crypto itch will see an explosion of users, hype, and profile.

This 2019 ‘killer dApp’ will prove critically important as the precursor to a true global crypto success story – and it will happen this year.

Thanks for listening.

 

Note – It could, of course, be argued that Steemit is already a ‘killer application’.

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