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Active Ethereum DApp Users Grew by 97% in Q2 2020

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Dapp.com’s new DApp market Q2 2020 report shines brightly for most DApp networks, with Ethereum

The DeFi space is clearly a fundamental reason for the boom in the DApp market. The majority of the activity stems from related services.

Dapp.com recently published a report on the state of DApps in Q2 2020. It provides a range of insights into the progress that the DApp space has made since the first quarter of 2020.

DApp market summary

The report examined various metrics in determining the quality of each network’s DApp ecosystem. It looked at major networks like Ethereum, EOS, and TRON, as well as less prominent networks like Tomochain, Chiliz

Volumes were only calculated based on the network’s native token, and not compatible synthetic tokens like Wrapped Ether. Dapp.com pulled the data from sources such as CoinGecko, Etherscan, Bloks.io, TRONSCAN, and NEOSCAN.

ETH-USD volume by DApp category

DeFi Explosion

The overall market growth has been strong. The transaction volume of DeFi DApps, in particular, has had a substantial impact on the market. DeFi DApps reached an all-time high transaction volume of approximately $608 million on June 21.

⁠It wasn’t a coincidence that Compound Finance’s COMP token also hit an all-time of $372.9 on the same day. Unsurprisingly, finance DApps saw some of the highest use. Users transferred nearly $5 billion this quarter, a 67% jump from Q1 2020.

A large part of this results from the burgeoning DeFi space, which has grown exponentially in value. Other key highlights from the analysis refer to the positive effects of the DeFi explosion in June, the arrival of new DApps, and an increase in transaction volumes.

The report goes on to detail the growth of DApp statistics for over ten networks, and there are some interesting and surprising results.

Ethereum Still Tops. Other Networks Experience Modest Growth

The overall DApp market summary shows that Ethereum performed the best, even if the number of new and active DApps had dropped by 31% and 13%, respectively. Notably, however, the total number of unique users has perceptibly increased, growing by 32%.

Even more noticeable is the number of active users, which has almost doubled, growing by 97% in Q2 to over 1.25 million users. EOS, one of Ethereum’s biggest rivals, experienced slower growth, but growth nonetheless. Like Ethereum, it dropped in terms of both overall transaction value and new DApps.

ethereum

It did, however, increase its active user base by 50% while unique users grew by 24%. TRON did better than EOS, with more DApps and unique users. The network has 1.48 million unique users, up 24% from Q1 2020. It’s active user base grew by 50% to stand at roughly 392,000. USD volume, however, experienced a considerable drop, down 17% to $260 million for the quarter.

At 506 and 593 DApps respectively, EOS and TRON are dwarfed by Ethereum’s 1959 DApps. Ethereum is looking particularly strong, given that multiple decentralized applications and developers are looking into integrated DeFi protocols and token services.

The ultimate goal, as always, is to boost financial freedom and inclusion with permissionless solutions.

DeFi Has Contributed Greatly to DApp Growth

A large part of the growth in DApps can be attributed to the recent renaissance of DeFi, which has trended steadily upwards in the past 18 months.

The introduction of the COMP token brought much attention to the space. COMP overtook Maker

Lending protocols like Compound have sparked the arrival of several yield farming programs, which lets users earn interest on assets that don’t need to be stored or staked. The average number of DApp users on Ethereum increased by 48% after COMP was released. Additionally, 97.5% of the Q2 DApp volume on Ethereum was related to DeFi products and services.

Ethereum’s on-chain metrics have also grown side by side with DeFi, an indication that the network is living up to its potential as a vehicle for global economic freedom. Many projects have released products relevant to the DeFi space, including Kyber Network



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As a leading organization in blockchain and fintech news, BeInCrypto always makes every effort to adhere to a strict set of editorial policies and practice the highest level of journalistic standards. That being said, we always encourage and urge readers to conduct their own research in relation to any claims made in this article.
This article is intended as news or presented for informational purposes only. The topic of the article and information provided could potentially impact the value of a digital asset or cryptocurrency but is never intended to do so. Likewise, the content of the article and information provided within is not intended to, and does not, present sufficient information for the purposes of making a financial decision or investment. This article is explicitly not intended to be financial advice, is not financial advice, and should not be construed as financial advice. The content and information provided in this article were not prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making any investment decisions.
The author of this article may, at the time of its writing, hold any amount of Bitcoin, cryptocurrency, other digital currency, or financial instruments — including but not limited to any that appear in the contents of this article.



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  1. ปั้มไลค์

    July 28, 2020 at 9:06 pm

    Like!! Really appreciate you sharing this blog post.Really thank you! Keep writing.

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FreshKorn Cryptocurrency

Prosecutors accuse Maryland couple of hiding additional classified naval secrets

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The revelation came during a detention hearing for Diana Toebbe, who is charged, along with her husband Jonathan, in an elaborate scheme to sell nuclear submarine details.

As part of its case to keep the couple in jail, prosecutors disclosed that the FBI has not been able to access all of the couple’s encrypted email accounts, and still has not located all of the classified naval secrets it believes the couple possessed.

Special assistant US Attorney Jessica Smolar said 50 of the 51 packets of restricted data the couple held cannot be found, warning the information could cause extreme damage to the Navy if the information got out.

Jonathan and Diana Toebbe appeared separately, each wearing orange jail uniforms, masks, and shackles. Jonathan Toebbe waived his right to a detention hearing, but an FBI special agent revealed new details about the couples’ alleged scheme during a lengthy hearing for his wife. The judge has not yet ruled if Diana Toebbe will be released.

Several photographs and videos were presented in court that the special agent said showed the couple arriving at numerous so-called dead-drop locations throughout the summer of 2021 where they appeared to act as tourists before depositing SD cards filled with classified naval submarine secrets.

They showed “typical tradecraft of espionage subjects,” the special agent testified, describing how FBI surveillance captured the couple parking their BMW Mini Cooper one-and-a-half miles from the initial dead-drop location and then carefully making their way to the previously agreed-upon drop-off spot.

“Diana was right behind him within a meter away,” the agent testified. “Basically keeping a look-out to make sure no one was coming up on them during that operation.”

After Jonathan deposited the SD card, “Diana provided a very distinctive head nod as if they needed to get out of the area, and I observed that,” the agent said.

The couple is accused of acting together to coordinate three separate drop-offs of SD cards containing classified information about nuclear submarines, specifically the Virginia-class submarine. The FBI agent disclosed the depths to which the couple attempted to hide the SD cards at the dead-drop locations, saying one SD card was tucked into a saran-wrapped peanut butter sandwich, while others were hidden inside a packet of gum and a sealed Band-Aid wrapper.

During an anticipated fourth dead-drop on October 9 in West Virginia, the couple was arrested by the FBI.

At the court hearing Wednesday, the testifying special agent said Jonathan Toebbe was getting increasingly concerned about his family’s safety. During the third dead-drop on August 28, Jonathan Toebbe arrived alone while his wife stayed home recovering from ankle surgery.

“Jonathan was extremely nervous,” the agent testified. “More nervous than we’d seen him on the previous ones and just very cautious about what was going on around him….because Diana was not there to act as a lookout.”

Jonathan Toebbe allegedly left a letter with the SD card during that dead-drop which said in part, “I have considered the possible need to leave on short notice. Should that ever become necessary, I will be forever grateful for your help extracting me and my family…. We have passports and cash set aside for this purpose.”

On Tuesday, a grand jury indicted the couple, charging them each with one count of Conspiracy to Communicate Restricted Data and two counts of Communication of Restricted Data. The couple pleaded not guilty to all three counts.

If convicted on any of the three counts, the couple faces up to life in prison.

The couple was arrested October 9, and the initial criminal complaint described how the Toebbes tried to sell sensitive information about nuclear submarines to a foreign country in exchange for millions of dollars in cryptocurrency. The country, which has not been identified in court filings, notified the FBI, which launched a year-long sting operation. The testifying special agent noted that the FBI moved quickly after discovering the couple was trying to sell these secrets in December 2020 because they were concerned the couple might try to shop the information to multiple countries.

After their arrest, the FBI searched their home in Annapolis, Maryland, where they discovered $11,300 in cash — all one hundred-dollar bills wrapped in rubber-bands; a crypto wallet; passports for their two children; and a go-bag containing a laptop computer, a USB drive and latex gloves.

Prosecutors revealed Wednesday that the couple had requested expedited passport renewals since theirs had expired in February 2021; the request was still being processed at the time of the couple’s arrest.

The Justice Department had previously moved to keep the couple in jail, citing their potential flight risk and the severity of their alleged crimes. The Toebbes appeared Wednesday with their court-appointed lawyers. Magistrate Judge Robert Trumble said he will issue a written decision as to whether Diana Toebbe will be released pending trial.



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FreshKorn Cryptocurrency

Prosecutors accuse Maryland couple of hiding additional classified naval secrets

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The revelation came during a detention hearing for Diana Toebbe, who is charged, along with her husband Jonathan, in an elaborate scheme to sell nuclear submarine details.

As part of its case to keep the couple in jail, prosecutors disclosed that the FBI has not been able to access all of the couple’s encrypted email accounts, and still has not located all of the classified naval secrets it believes the couple possessed.

Special assistant US Attorney Jessica Smolar said 50 of the 51 packets of restricted data the couple held cannot be found, warning the information could cause extreme damage to the Navy if the information got out.

Jonathan and Diana Toebbe appeared separately, each wearing orange jail uniforms, masks, and shackles. Jonathan Toebbe waived his right to a detention hearing, but an FBI special agent revealed new details about the couples’ alleged scheme during a lengthy hearing for his wife. The judge has not yet ruled if Diana Toebbe will be released.

Several photographs and videos were presented in court that the special agent said showed the couple arriving at numerous so-called dead-drop locations throughout the summer of 2021 where they appeared to act as tourists before depositing SD cards filled with classified naval submarine secrets.

They showed “typical tradecraft of espionage subjects,” the special agent testified, describing how FBI surveillance captured the couple parking their BMW Mini Cooper one-and-a-half miles from the initial dead-drop location and then carefully making their way to the previously agreed-upon drop-off spot.

“Diana was right behind him within a meter away,” the agent testified. “Basically keeping a look-out to make sure no one was coming up on them during that operation.”

After Jonathan deposited the SD card, “Diana provided a very distinctive head nod as if they needed to get out of the area, and I observed that,” the agent said.

The couple is accused of acting together to coordinate three separate drop-offs of SD cards containing classified information about nuclear submarines, specifically the Virginia-class submarine. The FBI agent disclosed the depths to which the couple attempted to hide the SD cards at the dead-drop locations, saying one SD card was tucked into a saran-wrapped peanut butter sandwich, while others were hidden inside a packet of gum and a sealed Band-Aid wrapper.

During an anticipated fourth dead-drop on October 9 in West Virginia, the couple was arrested by the FBI.

At the court hearing Wednesday, the testifying special agent said Jonathan Toebbe was getting increasingly concerned about his family’s safety. During the third dead-drop on August 28, Jonathan Toebbe arrived alone while his wife stayed home recovering from ankle surgery.

“Jonathan was extremely nervous,” the agent testified. “More nervous than we’d seen him on the previous ones and just very cautious about what was going on around him….because Diana was not there to act as a lookout.”

Jonathan Toebbe allegedly left a letter with the SD card during that dead-drop which said in part, “I have considered the possible need to leave on short notice. Should that ever become necessary, I will be forever grateful for your help extracting me and my family…. We have passports and cash set aside for this purpose.”

On Tuesday, a grand jury indicted the couple, charging them each with one count of Conspiracy to Communicate Restricted Data and two counts of Communication of Restricted Data. The couple pleaded not guilty to all three counts.

If convicted on any of the three counts, the couple faces up to life in prison.

The couple was arrested October 9, and the initial criminal complaint described how the Toebbes tried to sell sensitive information about nuclear submarines to a foreign country in exchange for millions of dollars in cryptocurrency. The country, which has not been identified in court filings, notified the FBI, which launched a year-long sting operation. The testifying special agent noted that the FBI moved quickly after discovering the couple was trying to sell these secrets in December 2020 because they were concerned the couple might try to shop the information to multiple countries.

After their arrest, the FBI searched their home in Annapolis, Maryland, where they discovered $11,300 in cash — all one hundred-dollar bills wrapped in rubber-bands; a crypto wallet; passports for their two children; and a go-bag containing a laptop computer, a USB drive and latex gloves.

Prosecutors revealed Wednesday that the couple had requested expedited passport renewals since theirs had expired in February 2021; the request was still being processed at the time of the couple’s arrest.

The Justice Department had previously moved to keep the couple in jail, citing their potential flight risk and the severity of their alleged crimes. The Toebbes appeared Wednesday with their court-appointed lawyers. Magistrate Judge Robert Trumble said he will issue a written decision as to whether Diana Toebbe will be released pending trial.



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Bitcoin price surges to new record above $65,000

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Bitcoin prices have surged 50% this month, from just under $44,000 at the end of September.
Some investors are now predicting even bigger gains for bitcoin, despite continued criticism of the cryptocurrency by JPMorgan Chase (JPM) CEO Jamie Dimon, who recently called bitcoin “worthless.”

“Given the price momentum we are seeing on the back of bitcoin’s ETF, we believe that bitcoin can easily go all the way to [$100,000] by the end of this year,” Naeem Aslam, chief market analyst with AvaTrade, said in a report Wednesday.



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