Bitcasino World Cup Raffle Campaign - Win the VIP World Football Championship Experience

Ethereum Dapps – The Best Dapps on the ETH Blockchain

What Does Ethereum Do That Other Platforms Can’t?

Dapps, or decentralized applications, are a part of the whole Smart Contracts ecosystem. Running dapps on the general-purpose, multi-faceted Ethereum blockchain offers added security benefits. Since the transactions are distributed and encrypted across the Ethereum blockchain, there is no central place for a hacker to breach and gain access.

It is unanimously considered that Ethereum is perhaps the best platform for building dApps. Thanks to its very own language, Solidity, this enables developers to form smart contracts using the Ethereum Virtual Machine. Using the tools, developers have created Dapps on the Ethereum Blockchain, ranging from prediction markets to resource planning to network-based games.

Applications built on Ethereum (dapps) can do things regular apps can’t:

  • Create new kinds of value and digital assets
  • Web apps that are unstoppable and non-censorable
  • Build decentralized organizations, property, or virtual worlds that are governed collectively

An Interesting Innovation

One of the most interesting innovations that Smart Contracts on the Ethereum Blockchain allows is interoperability among dapps. That means that one can build a dapp on Ethereum that takes input from a totally different dapp.

One such example of inter-application operability is the famous game on Ethereum called HyperDragons.

HyperDragons use Ethereum ERC721 non-fungible tokens to create unique virtual dragons that players can trade. Each virtual dragon has its fighting abilities determined by three factors: the dragon’s skills, glory, and hit points. A player can send their dragon to participate in fighting competitions to prove its worth on the battlefield. The best part of the game is that it uses resources from a different game called CryptoKitties.

CryptoKitties is a collectible-type game where people can breed, trade, and collect virtual kittens that are cryptographically linked to the blockchain. In HyperDragon, one can use the kittens collected from CryptoKitties to feed the dragons. This novel idea sparked a chain reaction in the blockchain space. It allowed people to conceptualize innovative applications that borrow from other seemingly unrelated applications, something unprecedented in the centralized technology world.

The Best Dapps on the Ethereum Blockchain

The Dapps that follow might not necessarily be the most used apps on Ethereum right now, but they certainly bring a lot of value to the Ethereum ecosystem.

Compound – DeFi Platform

In a traditional savings account, you put money into the bank and earn interest on that money. The problem is that regular bank customers cannot use their deposited, interest-earning money in any other way once it’s in the bank. What if you could spend the money your savings earned while still saving? That’s the idea behind all of the DeFi – decentralized finance ecosystem.

One of the major players in the DeFi Market is Compound. On the surface, Compound resembles other decentralized lending protocols in that it uses crypto assets as collateral to borrow more crypto assets. Compound stands out is the tokenization of the assets locked in their system through the use of cTokens.

Compound tokens or cTokens are ERC20 tokens representing a user’s funds deposited in Compound. By putting ETH or another ERC20 like USDC in the protocol, users get an equivalent amount of cTokens. For example, locking up USDC in the protocol generates cUSD–tokens, which automatically earn interest for you. At any time, you can redeem your cUSDC for normal USDC plus interest paid in USDC.

On Compound, each asset has its market with buyers and sellers. This market determines the interest rate that the particular asset will have.

Brave – Browser and Privacy

Brave Browser and their native cryptocurrency, Basic Attention Token, have taken the internet by a storm. Ever since their inception, the Brave vision of decentralizing the internet by allowing each user to manage their own privacy has envisioned a truly trestles future.

Brave Browser comes from the same team. It’s a web browser that blocks all advertisements and trackers. It gives users speed. Other browsers cannot because the amount of data transferred is comparatively less due to advertisements’ exclusion.

When you put these together, you have an ecosystem that can revolutionize digital media like never before. You block traditional spammy ads, and you watch ads that YOU GET PAID FOR. You can subscribe to digital content and contribute to your favorite content creators. You get faster-browsing speed, and none of your data is stored on a centralized server.

Brave had recently pocketed several high-profile names in the business, like, Binance, Wikipedia, YouTube, and the likes. This has allowed Brave to scale incredibly over the past few months.

Augur – Decentralized Prediction Market

Augur is an Ethereum based dApp (decentralized/distributed application) that functions as a prediction platform based on the “wisdom of the crowd” principle. It solves all the traditional problems concerning prediction markets, such as censorship, mediation, arbitrator, etc. Any individual seeking an answer can create a question that involves the network users betting on the outcome, in the hopes that as more and more people bet on the outcome, the likelihood of being right increases. Augur uses the Smart contracts feature of the Ethereum blockchain to payout the rewards as soon as the contract expires.

Kyber – Liquidity Platform

The On-Chain Liquidity Protocol, Kyber Network, is an innovative project trying to change the way we think of decentralized cryptocurrency exchange. They are developing a decentralized exchange protocol that will allow developers to build payment flows and financial apps.

Bitcoin live price
price change

At the most basic level, Kyber Network is a protocol that enables automated, decentralized, instant, and low-fee exchanges of Ethereum-based assets. These assets include Ethereum (ETH) itself and ERC20 tokens. Kyber Network is one of the few ICO projects from the 2017 ICO boom that’s both alive and well.

Stay up to date with our latest articles

More posts

5 Best Crypto Coins for Online Casinos

Playing with crypto at an online casino is an increasingly popular pastime for many cryptocurrency holders or casual players. These web-based platforms function similarly to traditional web-based casinos. However, they allow you to deposit, gain, and withdraw crypto at numerous games, including Blackjack, Roulette, Poker, slots, etc. Some players have problems choosing the best cryptocurrency for an online crypto casino games. As you may know, the crypto market is prone to intense volatility and unexpected turns of events. This means…

What is Web 5? Jack Dorsey’s Alternative to Web 3

On June 10th, Jack Dorsey announced a new project being built by Block’s bitcoin-focused business unit, TBD. That project is known as “Web 5” – a so-called “extra decentralized web” that “puts you in control of your data and identity.” What could the Block Head have in mind with this new creation? Also, what happened to Web 3? A Decentralized Data Storage Solution When Jack Dorsey announced Web 5 over Twitter, he said it would be Block’s “most important contribution…

Top 5 Crypto Portfolio Trackers To Use in 2022

An active cryptocurrency trader cannot do without the support of a crypto portfolio tracker. Not if they want to be successful at trading or investing. A crypto portfolio tracker is an app enabling you to monitor the amount and value of your crypto assets across all wallets, exchanges, platforms, and blockchain networks in real-time. It allows you to track historic transactions, live crypto prices, gains, and losses. Above all, it prevents you from mismanaging your portfolio while getting the best…

Five Gold-Backed Crypto to Consider in the Current Inflationary Economy

Many traders are optimistic about the blockchain's development potential and recognize that volatility is inevitable with new technology. Some are asking how to invest in digital assets while maintaining some degree of stability. A relevant part of investors frequently mentions stablecoins as a valid investment alternative. Anchoring the value of crypto to a fiat currency can undoubtedly sound appealing. However, fiat money depreciates as inflation increases, making stablecoins less valuable. In this particular context, the crypto market is offering a…

What Are the Differences Between Stop-Loss Orders and Portfolio Stop Loss?

In a volatile market like crypto, investors always look for ways to protect their assets. In this market, just like any other, nobody wants to lose money. Consequently, it's essential to introduce a price floor for the value of your assets. These situations can benefit from stop-loss orders or portfolio stop losses. However, some people have trouble figuring out where they should set their prices. If you set them up too far away, you could lose a lot of money…

Can Hackers Steal Your NFTs? Understanding How Criminals Operate

In a world where NFTs are becoming more and more valuable, NFT theft is a real threat. Criminals and technology are evolving, and users need to move with care in this growing market. Our guide will provide more details on this dangerous trend and share guidelines on reducing the risk of NFT theft. Stealing NFTs – Myth or Reality? When it comes to staling NFTs, exploiting human mistakes is the most typical strategy for a hacker. Without the hacker's access…

Ethereum Name Service (ENS) – A Simple Guide

People can choose domain names that are easy to remember for their wallet addresses, thanks to the Ethereum Name Service (ENS). The secret to this technology is using a computer to understand this domain. When it comes to Web3 communication, ENS has the potential to make all the difference. In this guide, we'll go through some possible reasons for this. Ethereum Name Service (ENS) – A Definition To find out what a specific Ethereum address is, people can use the…

A Beginner’s Guide to the Impermanent Loss Phenomenon

Decentralized finance, or DeFi, presents several hazards to investors. Impermanent loss is a significant concern when dealing with this growing market. This guide will explore the meaning of impermanent loss concerning the liquidity pool. Moreover, the guide will also discuss how to calculate the difference and reduce the risk of this phenomenon. Grasping the Notion of Impermanent Loss There is a high probability of impermanent loss in every given situation. A net difference in the value of two tokens in…

NFT Minting – What Do We Know about Its Environmental Costs?

A multi-billion dollar sector was born out of the non-fungible token (NFT) market in 2021. Environmentalists are increasingly alarmed about the ecological impact of this growing sector.  Is NFT minting a cause for concern for our planet's environment? What options do we have in resolving this problem? These crucial questions will be the core of today’s guide. Minting New NFTs Minting, the act of adding a specific item to the blockchain, is similar to producing a physical coin. It has…

Fair Launch vs. Pre-Sale – What Is the Difference?

Every time we see a new crypto project entering the market, we notice different ways to launch a token. One of the teams' most common choices is leaving (or not) access to the token to early investors. In this context, we have all heard about pre-sales and fair launches. These two strategies represent different approaches to the crypto market. Our guide will clarify the main features of the two funding rounds for our readers. Launching a Crypto Project – Preliminary…