- By Pierre-Alexandre
March 29th, 2019
Some of the leading companies behind cryptocurrencies and blockchain technologies are making moves to ensure that they become the primary destination for dApp developers and this could result in a battle to create the ultimate dApp store.
Tron acquires CoinPlay in a bid to expand its dApp reach
Tron, the eleventh largest cryptocurrency by market cap, has recently acquired CoinPlay, a blockchain dApp store. The CEO of Tron, Justin Sun, while announcing this latest development expressed his excitement stating that CoinPlay would be a great addition to the foundation. Justin Sun added that the acquisition of CoinPlay was carried out to better serve the blockchain industry and he believes Tron would experience exponential growth over the next few months:
Fellow #Tronics: I'm proud to officially announce that #TRON has successfully acquired CoinPlay. From now on, @CoinPlayShop becomes part of TRON ecosystem, together with #BitTorrent, making TRON one of the largest decentralized ecosystems in the world.#TRX https://t.co/1Sufen2aVh— Justin Sun (@justinsuntron) March 28, 2019
CoinPlay is a blockchain app store that is looking to offer dApps that are comprehensive, suitable and updated to cater for the crypto community. Tron acquiring CoinPlay will enable the company to work towards creating a dApp store where users can safely download and make use of blockchain-based apps.
CoinPlay has become a hub for blockchain-based software and games, and it would boost Tron’s commitment towards becoming the leading dApp platform in the world.
This acquisition could be the first step for Tron to develop a dApp hub for blockchain-supporting smartphones. If Tron can follow through on this, then it would be in strong position to become the primary dApp store in the crypto space.
Tron could face competition in dApp store development
Tron could be facing fierce competition in the development of dApp store. EOS is currently the fastest growing dApp platform. Due to its fast transaction speed, the EOS platform is appropriately poised to support the next wave of massive adoption which could come from dApps. EOS dApps currently have the highest number of users as the top five decentralized apps on the platform averages around 50,000 users per day. Ethereum, which is the most popular dApp platform could also provide fierce competition for Tron.
While Tron has acquired CoinPlay, there are other startups offering dApp stores services to crypto users. For example, Mobius is a top-ranked decentralized app store utilizing blockchain technology. iExec is another dApp store that has a curated list of decentralized applications making use of their off-chain computing and supports applications from a wide range of fields. App.co is also a favorite dApp store that hosts EOS and Ethereum applications.
The presence of these top-ranking dApp stores shows that the battle to become the leading store for blockchain-based apps could intensify over the coming months. Tron is positioning itself to play a crucial role in the development of dApps, but it will face challenges from other projects.
Our crypto analytics for TRON show that the buzz activity has been on an upward trend during the last month.
News sentiment is positive while social sentiment is still oscillating in the neutral zone