DappRadar is the number one source for dapp discovery, with tens of thousands of applications across several blockchain systems. As part of its efforts to entice more users, DappRadar’s newest blog post aims to explain the importance of dapps, and their role in Web3. It also looks at the importance of unique active wallets.
Importantly, it explains how it’ll resolve issues with the way it calculates unique active wallets to give both dapp creators and users a better experience.
The team behind DappRadar is continually expanding and improving upon their platform, giving dapp creators and enthusiasts access to valuable and reliable data.
Also, DappRadar is driving innovation in the blockchain space by providing essential information for those building and using decentralized apps – and that’s where its education series comes in.
Its recent collaboration with Decentraland showed how Web3 companies collaborate to ensure that data is as robust as possible.
DappRadar: What are Dapps?
DappRadar is a brilliant resource for NFT and Web3 enthusiasts who are just starting out in the Web3 space. In their recent YouTube video highlighting the newly updated DappRadar interface, they talk about Dapps and liken them to “new and improved” apps.
Dapps, then, are Web3’s answer to traditional applications. And the Dapp Store can be compared to Apple’s app store.
But what makes Dapps so much better than standard apps?
A dapp, short for decentralized application, is a type of software that exists and runs on a decentralized network. Dapps eliminate the need for a central authority, instead relying on blockchain technology to function.
DappRadar allows users to browse and discover available dapps, which range from games to finance platforms.
From a user’s perspective, using a dapp means interacting with the decentralized network directly, rather than via a middleman or central server. Dapps also offer increased security and privacy protections than centralized applications.
Overall, dapps offer an exciting new opportunity for decentralization and democratization in the digital world.
DappRadar’s Unique Active Wallets: What are they all about?
DappRadar is a one-stop shop for discovering decentralized applications (dapps) on different blockchains. Through their Rankings feature, users can filter dapps by product category, blockchain, or various data metrics.
The standard measurement for these rankings is the unique active wallets (UAW) metric, which shows the number of user wallets interacting with each dapp. DappRadar’s rankings provide a helpful representation of which dapps are currently seeing the most use and success.
They also regularly update their rankings to reflect changes in the dapp space and provide an up-to-date picture of the top-performing dapps.
Whether you’re new to the world of dapps or a seasoned user, DappRadar’s Rankings can help guide your discovery process and point you towards quality dapps worth checking out.
How does DappRadar calculate Unique Active Wallet (UAW) rankings?
DappRadar, a leading tracker of decentralized applications (dapps), currently lists Alien Worlds, Splinterlands, and PancakeSwap as the top three dapps by daily user numbers. All three are game products that have attracted over 100,000 unique active wallets (UAW) per day.
However, Axie Infinity – often cited as one of the biggest players in blockchain gaming – only sees 20,000 UAW on a daily basis.
This points to a limitation in the way the data can be interpreted – and DappRadar sheds some light on why this discrepancy exists.
Just because Splinterlands boasts significantly higher on-chain activity than Axie Infinity doesn’t necessarily mean that Splinterlands is more popular or successful. In fact, Axie Infinity has attracted hundreds of thousands of players, while DappRadar only measures about 20,000 daily users for the game.
The reason for this discrepancy is the fact that not all gameplay activities in Axie Infinity take place on the blockchain – things like navigating menus and interacting with other players happen on centralized servers.
This allows for smoother play and a better user experience, ultimately leading to higher player numbers. So while DappRadar’s metrics may not tell the whole story, it’s important to understand what it does and doesn’t show – s users can draw appropriate conclusions about its utility.
DappRadar: Real-life use case with Decentraland
If all of the theory makes sense, you might be wondering what this would look like in real life. Why do dapps and unique active wallets even matter?
Well, a recent Twitter thread from Decentraland, the web3 metaverse app, delves into this topic in a little more detail.
So what is Decentraland’s involvement with DappRadar? The company tweeted: “The list of contracts the @DappRadar tool had been tracking was not complete nor up to date, and it also didn’t account for one of the most common ways Decentraland users interact with smart contracts, which is via meta-transactions (purchasing a wearable, for example).”
As a result, DappRadar did not account for more than 6,000 Wearable transactions on Decentraland in the month of September.
This led to DappRadar reporting that the Decentraland had as little as 38 Daily Active Users which sparked confusion and anxiety in the Web3 space.
Decentraland is now working with DappRadar to improve its functionality and ensure it has a more accurate count of actual users and transactions.
This issue is similar to what Axie Infinity faced with many of its players’ activities being carried out off-chain.
We’re working with @DappRadar to update their dashboard, from the original 13 tracked contracts to currently 3553 to show a more complete analysis moving forward. https://t.co/otm1sTSqAB
— Decentraland (@decentraland) October 11, 2022
What else is DappRadar doing to improve functionality?
DappRadar, the leading platform for tracking decentralized applications (dapps), has announced plans to expand its metrics and allow dapp developers to claim ownership over their project’s presence on DappRadar.
This will make DappRadar even better as a tool for dapp discovery, as users can access more information about specific dapps and even product categories.
Dapp developers will also have the opportunity to provide DappRadar with all of the necessary smart contract information in order to track their project accurately.
As DappRadar continues its mission to become the world’s leading dapp store, this new feature will benefit both the platform and dapp communities alike.