New Social Messaging, Trading Apps Attempt to Solve Dapp Dilemma

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Social Messaging, Trading App to Challenge Telegram

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A new decentralized app called DappGram has been launched with claims to enhance communication among global blockchain users. It joins a slew of similar recent blockchain-based social messaging apps such as TronChat, Status and LINE, each hoping to reinvigorate flagging public interest in decentralized applications (Dapps).

Dapps were commonly seen as a practical means to take blockchain technology to the mainstream, with some experts predicting their popularity would one day surpass that of applications built by giant corporations, due to their increasing utility, userbase and network valuation.

However, the thousands of Dapps already created have seemingly failed to achieve the much-touted utility even with superior incentivization models, transparency and decentralized features.

According to its developers, DappGram promises to address the imbalance of information between users and blockchain companies by offering a full range service such as real-time transaction, information access, and other features.

Zerion founder, Evgeny Yuttaev, suggests that most ICOs seem to be in search of the next Bitcoin or Ethereum in search of massive profits, but what is really needed is projects which can change peoples lives, and for this to happen, Dapps need to become mainstream.

The new app hopes to revitalize interest in Dapps by offering more focused features than popular cloud-based mobile and desktop messaging app Telegram. DappGram promises trading quotes, transactions, crypto wallet facilities, and chat with community projects, therefore, enabling the monitoring of the cryptocurrency market in real time. An extra useful function enables users to register with simply their mobile number. In a company statement, it said:

“DappGram is more than an ordinary social network based Dapp, it has been projected to become the largest and best-connected platform in the blockchain industry and aimed to help blockchain players as much as possible.”

Currently, there are 1,565 decentralized apps built on the Ethereum blockchain alone, unsurprising given Ethereum’s historical place in the development of blockchain solutions. However, according to a study by crypto research publication Diar, the usage of decentralized apps on Ethereum has been declining sharply, with users declining 56% from January 2018 to July 2018.

Dapp detractors include Ethereum founder Vitalik Buterin, who feels similar apps which pose a challenge to Ethereum consistently fail, although such a view is hardly surprising given where the network originated from – a smart contract exploit.


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