According to the State of the DApps, there are currently over 3,000 DApps — or decentralized applications — active on the Ethereum blockchain. While the DeFi category is popular with around 375 DApps, Gaming and Gambling rank higher with around 535 and 416 DApps, respectively.
As most of our readers know, DApps are different from ordinary mobile and web-based applications because they are designed to give users more control over the data managed by the application. Dapps take a decentralized approach to data management, and theoretically use blockchain technology to put control back into the hands of users. While Ethereum is not the only smart contract platform used to build and operate DApps, it is the second-largest cryptocurrency by market capitalization in the world (after Bitcoin) and the first to facilitate the creation of DApps.
The pandemic of Ethereum DApps has led to increased congestion and pushed transaction fees on the network to unprecedented levels. Because DApp users are scrambling to get miners to process their transactions faster.
Top Streaming Dapps You Should Know About
Uniswap: Uniswap is a decentralized exchange (DEX) and the most popular exchange out there. The exchange played a major role in popularizing DeFi and DeFi-tokens last year. A unique feature of Uniswap is that it utilizes an automated market maker (AMM) system to facilitate transactions, meaning that the underlying liquidity pools that manage the actual swaps are run by smart contracts rather than traditional order book systems.
When trading on a central exchange (CeX) such as AAX, the market price of an asset is determined by supply and demand. In order to buy and sell, the trader must find the order book counterparty who provides liquidity to complete the trade. On AMM-based exchanges like Uniswap, pricing algorithms determine the market price of each asset. The liquidity provided by investors is pooled and used to execute all trades at a set market price.
Chainlink: LINK is an oracle platform that connects smart contracts with real-time data from the outside world, such as weather information, stock prices, or other data. Smart contracts use this data to execute predefined instructions. For example, pay insurance claims in the event of an earthquake. Chainlink has been around for a few years, but it wasn't until 2019 that the project saw significant growth after partnering with Google.
WBTC: Wrapped Bitcoin is a token on Ethereum that is pegged 1:1 with Bitcoin. Designed to bring the liquidity of Bitcoin to Ethereum. It's growing in popularity in part because users can earn interest on bitcoin locked up on Ethereum.
Decentraland: A decentralized virtual reality game where users own virtual plots, can build buildings such as theme parks and casinos, and can monetize them.
OpenSea: OpenSea. A marketplace for buying and selling NFTs, including unstoppable domains, digital art, and more.
digital revolution
Of course, the above is just to give you a basic idea in this field. There are also many, many interesting DApps. For more data, State of the DApps and DeFi Pulse are worth checking out.
The crypto space is not just about “making money” as some people think. Of course, tokens are speculative and can be applied to a larger ecosystem where users can trade, find arbitrage opportunities, participate in lending, auctions, provide liquidity, and more. For many, this is the main motivation to enter and invest in the crypto space.
However, it is important to realize that what is currently happening on blockchains like Ethereum, Cardano, Polkadot, Binance Smart Chain, Ripple and EOS is not just about creating new markets. Smart contract platforms have the potential to fundamentally change the way our society interacts on the internet, managing our wealth, voting, communicating and building identities.
Some might say that this is the ultimate goal of the Internet. Others call it Web 3.0.
About AAX Academy
AAX is a digital asset exchange powered by the London Stock Exchange Group. It is a "high liquidity, low spread" fast cryptocurrency contract trading platform. AAX Academy is a user education channel created by AAX, which aims to help more users learn novice tutorials and understand the basics of blockchain.
Author: AAX; from ChainDD content open platform "DeDehao", this article only represents the author's point of view, and does not represent the official position of ChainDD. For "Dedehao" articles, the originality and authenticity of the content are guaranteed by the contributors. If the manuscript has legal consequences caused by plagiarism, falsification, etc., the contributor himself will be responsible for publishing the article on the platform. If there is any infringement, violation or other inappropriate content, please supervise the readers. Once confirmed, the platform will be offline immediately.
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