DApps Need to Nail Usability to Move From Crypto Niche to Mainstream
Cointelegraph reached out to Dapp.com to get an accurate set of data on the number of DApps and their users since platforms such as Ethereum allowed for their development. According to Jordan, 2019 was the year for gambling DApps on Tron and EOS, while DeFi applications began to gain traction later in the year:
DeFi has become increasingly popular in 2020 due to users trying to maximize yield farming, as Lu and a number of other experts highlighted to Cointelegraph.
The Dapp.com CEO directly attributed the second-quarter spike in users to yield farming and an increase in users on the Compound decentralized lending platform: “Yield farming has created a strong boost for Ethereum token holders to stake their assets in DeFi dapps for interest return.” Jordan echoed Lu’s comments that yield farming is a major reason for the boom in users in the second quarter, unpacking the phenomenon in a conversation with Cointelegraph and giving his opinion on what is drawing so many users to the DApp ecosystem:
Vadim Koleoshkin, co-founder of DeFI service provider Zerion, believes that yield farming may have drawn in a swathe of new users, but the utility of DApps and DeFi platforms has led to retention of these users:
There seems to be a unanimous belief that the future growth of DApps and DeFi is dependent on improvements to user experience, ease of access and functionality.
