Cryptocurrency exchange Binance has acquired DappReview, one of the world’s leading analytics platforms for blockchain-based decentralised applications (dApps).
In an announcement on Monday, the exchange said it will provide support to further develop the dApp ecosystem and “foster greater blockchain adoption”.
Founded in February 2018, DappReview has attracted more than 300,000 monthly active users spanning across 120 countries.
It provides insights, data analytics, and relevant information for more than 3,900 dApps split between 13 public blockchains.
“On-chain applications are still the missing piece for mass blockchain adoption,” said Wei Zho, Binance CFO.
“The DappReview team has shown its commitment to dApps and strong execution in building a leading global dApps platform within a year of establishment.
“Binance and DappReview share a mutual goal of driving blockchain applications. This acquisition marks a significant step into the dApps ecosystem, and we will have more exciting developments in the near future.”
Following the acquisition, the project will still maintain its independence when it comes to technical development and operation, while the exchange will offer support in non-technical areas such as marketing and business development.
Speaking on the move, DappReview founder and CEO Vincent Niu said:
“The mission of DappReview is to build a vibrant dApps ecosystem and boost mass adoption of blockchain. Apart from dApps analytics services, we also provide full packages of support for dApps developers from fund-raising and product development to marketing and promotion.
“Binance’s acquisition will empower DappReview with more resources to accelerate our business growth. Our next step is to partner with more blockchain protocols and developers on dApp data integration, and push for dApps adoption on a greater scale.”
DappReview is expected to release its latest suite of products in Q1 2020.
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