In brief
- My Ether Wallet has added a Dapp Browser to its mobile application in partnership with DappRadar.
- DappRadar provides data and a comprehensive list of dapps across various blockchain networks, with Ethereum by far the most popular.
- Millions of mobile users can now access dapps through various wallets and applications, a potential boon for DeFi, NFTs, and other decentralized protocols.
In a move that could help expand the DeFiDeFi market well beyond its current user base, smartphone users are now getting a new way to explore the growing world of Ethereum-based decentralized applications.
My Ether Wallet announced today the launch of the Dapps Browser for their mobile app in collaboration with dapp data provider DappRadar, allowing users to browse and interact directly with decentralized applications on the EthereumEthereum network. The idea is to help spur adoption of dapps in sectors such as DeFi and NFT trading among the growing market of mobile blockchain users.
"Our dedication to bringing DApps to all of our users, no matter how they choose to access them, reflects our belief that wallets can, and should, become the hub where the entire Ethereum DApp ecosystem comes together," MEW founder and CEO Kosala Hemachandra said in a press release.
Its partner in this endeavor, DappRadar, provides user activity rankings and other metrics for dapps in various sectors of the crypto market. DeFi, short for decentralized finance, has rapidly grown in popularity since June 2020, offering financial services like loans and asset swaps without the need for a trusted-third party like a bank to facilitate transactions.
NFTs, which are unique crypto collectibles such as art pieces verified on a blockchain, have also become a $33 million market according to DappRadar, with dapps like Hashmasks and CryptoPunks helping artists sell individual art pieces for hundreds of thousands of dollars in some cases.
Access to dapps on mobile devices is also available via other applications, like decentralized communication tool and wallet Status and the popular Trust Wallet application. These apps along with MEW have been installed on more than 6 million Android devices around the world, but a recent report from DappRadar found that Ethereum based dapps had just 72,000 daily active users in January 2021.
That leaves a huge amount of room for user growth in the dapp ecosystem, especially for Ethereum-focused projects like MEW.
Ethereum, Bitcoin Locked in DeFi Tops $30 Billion as Prices Surge
The total value locked in DeFi protocols has hit another milestone, surpassing $30 billion less than a year after first crossing the $1 billion dollar mark, according to data aggregator DeFi Pulse. But although DeFi apps continue to grow in users, the increasing locked value is also getting a sizable boost from the surging price of Bitcoin and Ethereum. DeFi (shorthand for “decentralized finance”) is a catch-all term for non-custodial, peer-to-peer financial products, which are becoming increas...
DeFi and NFTs are emerging as killer applications for the Ethereum blockchain, offering some of the first real-world examples of what’s possible when blockchain networks begin to offer serious value to their users without compromising on security or decentralization.
A decentralized Web3 promises a whole new world of possibility for technological and financial networks—and adding a new route may just help users find their way there a little faster.
