Oxygen COO Alex Melikhov spoke at cryptocurrency and blockchain conference BlockShow in Las Vegas, the USA and focused on decentralized applications potential for the crypto market.
Melikhov pointed out that despite increasing number of DApps being developed these days, not many of them are useful and just a few are successful. But even these rare cases of existing DApps can not boast impressive figures of their users: “Emagine, IDEX — the most used decentralized application, a big decentralized exchange counts just three thousand users daily. In comparison to Binance with half a million per day it is literally nothing”, said Melikhov. According to him, this is mostly connected to the inconvenience that DApps users face, inadequate level of adoption and almost lack of usefulness.
“Being a DApp developer I consider my mission as providing more convenient user experience to anyone. It is like to bring users to the point where they would not say — I don’t care about decentralized application. They are boring, difficult to use and so on”, Melikhov comments.
He added that despite all the difficulties, DApps have an enormous potential for the developing crypto market as being secure, transparent and reliable: “DApps are one of the most essential ways to utilize the advantages of blockchain technology overall. So as a user you should be patient since the decentralized applications can sometimes disrupt all the industry and as an investor, you should keep an eye on new mindful projects that are coming to the market. It takes time but the future is truly promising”.
BlockShow was held on August 20-21 in Las Vegas, making its first US appearance, and attracted thousands of crypto enthusiasts from around the world.