Ethereum has always been a popular platform for decentralized applications (DApps). However, the DApp ecosystem is growing at an exponential rate, and this growth could be a sign that it's becoming centralized.
The Ethereum network is currently experiencing a surge in usage, as shown by the fact that Ethereum's transaction volume reached nearly $1 billion in just 30 minutes. This spike was caused by the launch of OmiseGo's OmiseGo (OMG) DEX, which allows users to trade various ERC20 tokens directly from their wallets. The launch caused Ethereum's transaction volume to jump from $18 million to $31 million within seconds.
In addition to this increase in transactions, there have also been reports of centralized exchanges being created on top of the Ethereum network. One such exchange is Eximine, which was launched yesterday and claims it will not hold customer funds or assets. The exchange has already raised over $5 million in its crowdsale and has been accused of plagiarizing its website from another project called Dragonchain.
The rise of these new centralized exchanges raises questions about whether Ethereum is moving towards centralization after years of being touted as an open-source blockchain technology with no barriers between users and developers seeking to build decentralized applications.