🔥 TOP STORY
Tron Price Prediction for 2019: How Much Will Be Cost TRX in 2019?
Tron Price Prediction for 2019: How Much Will Be Cost TRX in 2019?

10 Best DApps On Ethereum

  • Vera Thornpike
    ⭐ Features

    There’s plenty of Ethereum dApps that can be used for trading, shopping, and recreational purposes. Let’s observe the Top-10 pioneers conquering the market of Ether dApps

10 Best DApps On Ethereum
You may also like:
Contents

After Bitcoin shocked the world with the revolutionary concept of the blockchain, Ethereum was the second to come up with an out-of-the-box solution. The Ethereum platform presents a mash-up of advanced technologies: decentralization, smart contracts, ERC-20 tokens, proof of stake. It’s not surprising that it grabbed the attention of developers: over 90% of blockchain dApps (decentralized applications) are based on Ethereum’s distributed ledger.

Due to the fact that the technology developed by Vitalik Buterin’s team is still in its infancy, many Ethereum apps remain stuck at the planning stage. However, a few projects have managed to make it to the market and are already utilized by users worldwide. Let’s observe the 10 top Ethereum dApps to find out what they can offer for the average user.

DApp vs a traditional application: what’s the difference?

Before we start discussing the list of dApps, let’s shed light on the difference between traditional and decentralized applications.

dApps

Usual apps

No central authority over any aspect of Dapp performance

The developer team is in charge of the application

A dApp is in the hands of end users. They influence the process of decision making, development is more democratic.

The central authority makes mission-critical decisions and decides upon the development of app and its functions. The App and its resources are distributed according to the will of the owners/central authorities.

The trust in dApps is based on the technology itself.

The level of trust is defined by app rating. It all boils down to business reputation, previous performance, users’ reviews. Sometimes intermediaries can serve as a guarantee for the quality of service.

Ethereum dApps are open-source, their code is available and can be shared with developers. Development process relies on consensual decision-making across the entire network. Therefore, no legal proofs or ratings are required.

Most apps are commercial projects that don’t allow sharing code.

Most dApps have their own cryptocurrency, and the token value is defined by the effort invested in the application. Unnecessary fees are minimized, the value of fiat currencies doesn’t play any crucial role.

The financial model includes fees and intermediaries. Apps rely on the external value of money.

DApps feature distributed security and function in a P2P network.

The central server can be hacked, which poses threats to the entire app.

Being a new type of software, Ether dApps can alter the way we process information, store data, and exchange value. Decentralized applications allow us to perform transactions in a cheaper and faster way without the need for third parties.

Now it’s time to review solutions from our Ethereum dApps list.

👉MUST READ Tron Kicks Ethereum and EOS’ Ass on DApp Field: Report

1. Ethlance

Ethlance is a decentralized analog of Upwork, famous online jobs marketplace based in the USA about ten years ago. It helps freelancers and companies from all over the world to find each other. Unlike Upwork that charges 10-20% fee, Ethlance is totally free—its decentralized nature allows concluding contracts without commission. There's no registration fee, which makes it one of the best dApps for the self-employed.  

Ethlance platform interface

2. Bancor

Unlike traditional exchanges, Bancor was created to ensure liquidity between Ethereum-based assets with the help of smart tokens. It does not match sellers and buyers. After organizing a successful ICO, the platform enjoyed an abundant flow of users, but the number of customers today is far from impressive: according to DappRadar, only 204 people use the app daily, and ETH turnover is zero. Probably, new features and proper marketing can kick things up a notch.

3. LocalEthereum

At the moment, LocalEthereum is 4th on the list of the best Ethereum apps for exchange: the number of users per 24 hours is 218. LocalEthereum simplifies the process of trading between individuals as LocalBitcoins did for BTC transactions (that’s where the project name comes from).

LocalEthereum drives transactions with an escrow smart contract that locks sellers’ ETH until the money from the buyer is received via a wire transfer, in-person cash handoff, or other ways. In case of disputes, the smart contract will find an arbitrator (today, only LocalEthereum performs this function, but other reputable parties can be added soon). Ether will go to one of those parties—there are no exceptions to the rule.

4. Aragon

This is an interesting Ethereum dApp that’s designed for managing decentralized autonomous organizations also called DAOs. Any organization or a company can get the status DAO to add to the level of transparency and make entity governance more efficient. It also allows for eliminating unnecessary mediators that can be replaced by smart contracts. Aragon is fueled by its native ANT token that can be obtained on Bittrex.

Aragon interface

5. Idex

The leader of exchange Ethereum dApps, Idex hosts over 1,300 users daily and boasts daily 4,400 ETH turnover. The platform is designed for trading between Ethereum and other ERC-20 tokens. While users of GDAX, Binance, and Kraken give power to the hands of exchange operators, Idex uses the "publicly verifiable" smart contract and is free from hacking threats. There’s only one thing disturbing its perfect decentralized nature: Idex uses a centralized server to queue transactions in the order book, but the white paper mentions it will be fixed.

6. Cryptokitties

The Ethereum platform is a versatile technology - it enables the creation of essential software for trading and shopping, and yet can serve to develop a recreational app. A good case in point is Cryptokitties — a peculiar mix of 90's tamagochi video games and online trading.

Cryptokitties is an Ethereum blockchain-powered game where players can raise, breed and sell their virtual cats (also called 'cryptocollectibles'). Just like Ether and Bitcoins, the cats are unique: in fact, each of them is an ERC-721 token. CryptoKitties co-founder Arthur Camara claims that they can be used to tokenize real-world assets, too.

CryptoKitties website for breeding, buying and selling assets

Cryptokitties is still one of the most popular Ether dApps, but its daily userbase was far larger a year ago, when the newly launched game attracted attention from investors, players and crypto enthusiasts. Today, about 398 users per 24 hours enjoy the game, and the daily turnover of 111 ETH proves that it still has appeal to them. Despite the fact that CryptoKitties falls into dApps category, it runs in a centralized database, and mostly works from one Internet portal.

👉MUST READ CryptoKitties Co-Founder Benny Giang: Spend a Week Understanding Why Crypto Matters to You

7. Radex

Readex serves as a dApp platform for decentralized exchange of Ethereum tokens (ERC20) and ERC223 token standard. It was one of the first services of its kind to integrate the Saturn protocol for EVM blockchains.

8. Gnosis

One of the most interesting dApps, Ethereum based Gnosis is designed for predictions. Say, you want to know the market prediction for an auction or a hockey match. Using Gnosis and its native GNO token (it can be bought on Bittrex), you can find answers to your questions and discover the prices you’re interested in. Besides, you can make bets and vote. The application is in beta phase, but it’s already quite popular.

How voting is organized

9. Golem

Where to get computing power or find someone to share it with? Use Golem, one of the best Ethereum dApps for P2P communication. It serves as a decentralized marketplace where you can buy or sell computing power. Golem supercomputers can be used after paying in native GNT token (it can be bought on Bittrex). Tokens are also used to reward those who share their extra computing power in the network.

10. Prism

How to use Ethereum for investment with maximum gains? Prism dApp is here to help: this is a decentralized asset portfolio based on Ethereum blockchain. Through the use of Prism, a trader can invest ETH in cryptocurrencies and set the percent of holdings they need. Since the platform is based on smart contracts, the user doesn’t have to deal with passwords and seeds for several exchanges.

Aside from these apps, we highly recommend trying:

  • ForkDelta;

  • Etheremon;

  • Augur;

  • 333ETH;

  • Ninja Prediction;

  • The Token Store.

Bottom line

When it comes to creating a dApp, Ethereum offers a myriad of possibilities for developers and helpful features for users. But what we are witnessing is only the dawn of the dApp era — the platforms described above can be a primitive prototype of the truly revolutionary software. Anyway, giving them a try is still worth it — there’s already something to reap benefits from.

Join our Telegram channel to get news even faster!
👓 Recommended articles
something-wide
something-wide

Question of the Day: Can Stablecoins Accelerate Cryptocurrency Adoption?

  • Yuri Molchan
    ⭐ Features

    Stablecoins show hardly any volatility compared to Bitcoin and altcoins, many are hoping that they will be able to bridge new crypto economy and regular fiat money

Question of the Day: Can Stablecoins Accelerate Cryptocurrency Adoption?
You may also like:
Contents

Bitcoin, the father cryptocurrency, emerged in hope that it will remove all intermediaries in electronic commerce that cut off their share of payments. BTC was perceived as a P2P way to replace fiat cash in an electronic format, which would enable one party to pay another without any financial institution or payment platform which would demand its share of a transaction as a reward for its services.

What is wrong with Bitcoin

For quite a while Bitcoin was performing the way the crypto community expected. But the situation changed later – BTC rate became weaker, thus bringing down its financial and economic reliability, when it gets to be used as a regular means of payment.

You cannot have a currency that would cost like a British castle today, a gram of gold – tomorrow and a pack of French fries the day after.

At that point practical fintech minds came up with an idea of creating something which would become a breakthrough in the universe of crypto – a so-called stablecoin.

Will stablecoins solve the volatility problem?

Technically, stablecoins are protected from the volatility roller-coaster that Bitcoin and other cryptos love to ride. They are programmed to keep their prices stable and investors now are largely attracted to this new type of digital assets.

Stablecoin does not show any volatility in its monetary value, since it has a fixed connection to an asset it is pegged to. The major goal of using stablecoins is taking the best from decentralized crypto coins and combining it with a constant value. Thanks to it, stablecoins can be used as a reliable means of trade.

Asset-pegged stablecoins

Asset-backed ones get their value from an asset as can be understood from the name. An asset provides the necessary value to a coin, as well as the necessary legitimacy.

A great example of an asset-pegged stablecoin is Tether (USDT). In spite of a series of scandals at the end of last year, it remains the most popular stablecoin in the crypto market.

Recently, it has partnered with the Tron Foundation to launch a Tron-based stablecoin.

Other examples are TrueUSD (TUSD), USD Coin (USDC), the Gemini Dollar (GUSD), and the Paxos Standard (PAX). They are all pegged to the USD.

Crypto-backed stablecoins

Some digital coins work in a similar way to fiat-backed ones, however, they are pegged to collateral crypto. That means that crypto assets that ensure the value of such stablecoins are stored in a wallet similar to escrow.

A good example of a crypto-pegged token is Maker, which is ranked 16 on CMC.

Algorithmic stablecoins

Even though, stablecoin can be interesting at first thought but the way they are built goes against the principle of decentralization that crypto coins have as a foundation. Thus, many crypto fans and evangelists are positive that stablecoins must be linked towards not a centralized asset but a computer algorithm which takes value from a balance between supply and demand.

Basis is now considered the most promising algorithmic stablecoin of all.

👉MUST READ John McAfee Says Exactly When Bitcoin Will Hit $1 Mln, IBM’s Jesse Lund Goes for More Modest Forecast

Can stablecoin ensure smooth future for the crypto industry?

The primary goal of all crypto assets was and remains to come up with virtual asset that would be liquid enough and not vulnerable to market volatility. From this point of view, stablecoins are a dream of all crypto fans and evangelists of a decentralized economy.

Apart from the potential to conduct crypto transactions smoothly, experts believe it can bridge the two worlds – fiat and crypto, bringing them a mutually beneficial coexistence. However, that may take time.

Subscribe to the official U.Today Telegram channel. Get news first!
👓 Recommended articles
something-wide
something-wide