Christian Crowley of the analytics firm Alethio performed at ConsenSys Community Day on the Tel Aviv Stock Exchange to share data on the number of DApps (decentralized applications) being deployed on the Ethereum blockchain.

Finance Magnates reports that Crowley said 700 tokens and 1,090 DApps had been deployed by 2017. Crowley also states that 100,000 new users are joining the network every day with 1 million transactions per day. There are currently 35 million unique Ethereum addresses. Alethio’s platform captures block data in real time and presents the information on easy-to-use dashboards, according to Finance Magnates’ report.

While some of the DApps are live, some of the 1090 apps deployed are still under development. According to DappRadar, IDEX is the most used app with over 8,000 daily users. IDEX is a decentralized exchange where users can trade ERC20 coins without giving up control of their funds to exchange wallets. Decentralized exchanges tend to be slower than their centralized counterparts, but scandals like the Mt Gox, BitGrail, and Coincheck incidents where funds were lost or hacked and stolen have deterred many users from trusting exchanges with their money. Decentralized exchanges offer more security in terms of user control of funds, with the compromise being longer waiting times and less the support from staff that is typical of a crypto exchange. The nature of decentralized applications is that, once programmed, they work autonomously on the blockchain. The aim is to provide a driverless service that connects people who directly provide and consume content. They are usually open source and all updates are done by consensus – nobody is in control of a DApp and often there is no significant owner. Businesses and developers can make money with DApps by incorporating a utility token required to run the application and then hoping that the token will increase in value due to demand.

Other ways to monetize DApps include collecting some of the transaction fees – for example, CryptoKitties has been successful with the model of collecting 3.75% of all gas fees. Other methods include placing advertisements on the DApp or charging for premium services or subscriptions.

The 500 live DApps tracked by DappRadar currently have a shared user base of 12,000 people.