Ethereum is the second-largest cryptocurrency in the world by market capitalization, second only to Bitcoin. Naturally, the two are often compared, and the key difference between them is in their technical design. The main difference between the two digital currencies is that Ethereum’s blockchain is programmable and is responsible for things such as Dapps, NFTs, complex smart contracts, and more. Whereas Bitcoin is only limited to recording transaction information. In this article, we are going to explore some of the best decentralized apps out there.
What exactly are dApps?
DApps (decentralized applications) are software programs programmed on a blockchain network, often on Ethereum’s network. Instead of running on a single computer, they are powered by a P2P (peer-to-peer) computer network. Just like decentralized currencies, dApps are not controlled by a single entity and thus provide true freedom to their users. DApps can be used in finance, gaming, social media, or any other internet activity.
One of the most popular dApps is BitTorrent, which has been around since before cryptocurrency became mainstream. The popularity of blockchain technology has given birth to an array of new dApps, and Ethereum today is at the forefront of them as it provides the necessary infrastructure for developers.
Here are the top 7 dApps built on Ethereum…
1. UniSwap V2
UniSwap V2 is incredibly popular among investors and traders alike mainly due to its support for wide variety of tokens. As a decentralized exchange it allows anyone to provide liquidity for trading and it does not charge fees to users for listing tokens. Furthermore, the platform also features top-notch security measures, eliminating fraudulent activities. This protocol allows users to exchange ERC-20 tokens on Ethereum, offering swift and efficient trading at a very low swap fee.
OpenSea became known to mainstream due to increasing popularity of NFTs. The platform is the biggest peer-to-peer marketplace for all type of crypto collectibles, and this is not just limited to gaming items, digital art, and other virtual goods built on blockchain. OpenSea has easy to understand interface for beginners as well as expert crypto traders. Aside from Ethereum, the platform also supports a few other blockchains including BNB Chain (BNB), Polygon, and Solana (SOL). If you are looking to create your own NFTs, this dApp provides minting tools as well.
3. MetaMask Swap
MetaMask Swap allows users to swap their cryptocurrency token directly from their self-custodial, easy-to-use MetaMask wallet. This DeFi app extracts information from several other decentralized exchanges, DEX aggregators, as well as marketplaces. This allows it to provide users with pricing information on network fees and more.
Currently, MetaMask is used by over 5 million people on desktop and mobile, it is also available in forms of browser extensions. Storing Ether and ERC-20 coins exclusively, this dApp also allows users to access Web 3.0 deployed on the Ethereum network, ensuring complete privacy of user data.
4. Uniswap NFT Aggregator
With OpenSea still being the most popular NFT marketplace, the launch of Uniswap NFT Aggregator signified the speedily growing NFT space. More marketplaces in the same domain increase innovation and improve the user experience, and this is certainly the case with the emergence of UniSwap NFT Aggregator, which encompasses collectibles from OpenSea, NFTX, X2Y2, and others. With its aggregator, Uniswap aims to “build more interoperable experiences between NFTs and ERC-20 tokens”, which have existed as two separate ecosystems within crypto.
5. PancakeSwap V3
PancakeSwap V3 refers to a user-friendly DEX (decentralized exchange) built upon the BNB chain and Ethereum network. Compared to the previous version, V3 features up to 25x lower trading fees. What’s more, with the new version, liquidity providers can earn more fees for the same deposit amounts.
Its embeddedness in the Ethereum blockchain has made PancakeSwap V3 a desired choice for more decentralized finance use cases. The team behind PancakeSwap has promised that V3 will have an attractive reward system and additional features that will further improve the user experience.
Metawin is a gambling platform that purely operates on the Ethereum blockchain, meaning users can gamble on the decentralized platform without ever revealing their identity. MetaWin seamlessly connects to your Ethereum wallet and allows you to experience a thrilling gambling experience with instant cash outs. The results of MetaWin’s casino games are determined by randomized, smart contract technology. Helpful resources online, such as cryptocurrency help explain the essence of this technology, outlining how random outcomes are fair and preserve the integrity of decentralized values.
ShibaSwap has a unique concept in how it does things, but as a DeFi (decentralized finance) platform, it carries out all the fundamental tasks, allowing users to provide liquidity, stake, and swap tokens. ShibaSwap provides users with WOOF returns as a part of their reward system, and these rewards can be earned passively. SHIB, LEASH, and BONE are three tokens that the platform primarily focuses on. Using the success of memes and Dogecoin, ShibaSwap has managed to build a solid venue for investors.