Ben Sigman and Fred Krueger
Block One announced a new product called EOS Voice yesterday, June 1. With a tagline of “Social as it should be”, the upcoming product appears to directly target Facebook. In this article, we want to refocus the discussion on what it is likely to do for the crypto ecosystem, and EOS dApp users in particular. Our conclusion: it will very likely make a significant impact on overall numbers.
Daily Active Users
The total amount of daily active users on all three blockchains (EOS, ETH and TRON) is roughly 170,000 (see http://dappradar.com).
This is about 89K on EOS, 19K ETH and 20K Tron. As Dan Larimer pointed out in the Block One summit, EOS has a 60% market share.
Contrary to Justin Sun’s tweets, Tron appears to only have a 20% market share, and in fact this is highly concentrated in 4 dapps (Tron Bet, Tron Market, Hyper Snakes, and Tron Trade).
Blocktivity.info tracks the total transactions (as opposed to DAUs) of each blockchain.
EOS is registering a total of 17,000,000 daily transactions, or about 200 transactions per user per day.
Tron and ETH are both registering around 1,000,000 daily transactions or about 50 transactions per user per day.
An older Dan Larimer project, Steemit, is very much along the lines of Voice and reached a peak of 200,000 active users. While in steep decline, this traffic pattern sets a target for what is immediately achievable with Voice.
Increasing the scale of EOS
Pre-voice, the scale of the EOS BlockChain can be thought of as 90,000 users transacting 200 times a day (each game play results in multiple transactions per minute).
Could Voice double these numbers in short order? we think so. While still not relevant on the FB / Instagram / Twitter scale, these would all be new users to the EOS crypto ecosystem. Users who understand the value of tokens. Users who understand private keys and accounts.
A blockchain social platform (Karma) with rewards already has 2,000 DAU with a very small marketing budget. It’s not unreasonable to believe that Block.One could grow a platform to be 50x as large as Karma with a modest market budget.
If Voice were to grow to 100,000 daily active users and pay out $1/day to those users, the cost would be $36,000,000.00/year. This is not an unrealistic number for a platform that will be using inflation to pay users in a token as well as having the backing of a major company such as Block.One.
The Bonus WildCard: Identity and Free Accounts
Beyond just the impact of a well designed app, with likely direct impact on the crypto ecosystem, there is the impact of potentially creating free accounts with Identity.
This is not yet released, and is still not the same as free accounts in the sense of FB (some kind of KYC or biometric system would be used, and this would be a roadblock) — this could unlock many, many more accounts for EOS dapps and wallets such as our own EOS Lynx.