The constant technological evolution brings in new trends. Decentralized applications (dApps) are an exciting trend that has evolved as a game changer in major industries like banking, finance, gaming, etc. dApps operates on the blockchain network and a distributed computing system. It utilizes blockchain technology to offer users a transparent and safe platform to interact with digital assets, smart contracts, and other functions.
dApps are primarily popular in the crypto markets. The primary purpose of dApps is to safeguard user’s privacy. They do not operate on a single server. Instead, dApps spread their data and operations across a network of nodes to ensure transparency and protection against censorship. It allows users to utilize the services offered by traditional apps and the benefits of decentralization. The process of developing dApps is straightforward.
dApp utilizes smart contracts to facilitate transactions between the parties. The market for dApps is growing exponentially. The industry has witnessed a growth rate of 124% in its Unique Active Wallets, and blockchain games continue to lead in dApp activities. Let us explore the top 10 decentralized applications that have caused transformation across various industries.
1. Compound
Compound is a decentralized app, built on the Ethereum network. Users can easily borrow, lend, and earn interest on crypto deposits without involving any intermediaries. The platform offers automatic adjustment of interest rates and multiple currencies support such as Dai, Ether, etc. Users must connect their wallet to Compound-supported platforms such as Metamask, Ledger, and more to access exclusive features offered by Compound. “COMP” is the native currency of the platform that allows users to vote and contribute to Compound’s future growth.
2. Uniswap
Uniswap operates on the Ethereum network. It’s a user-friendly app without any crypto wallet restrictions. The platform does not rely on buyers and sellers to create a liquidity pool. The platform utilizes a set of smart contracts to execute the trade. Uniswap enables the exchanging of cryptos and tokens on blockchain networks. Users can cast their votes using UNI, the governance token. The platform ensures complete transaction safety as the parties involved are engaged in direct trading from their wallets.
3. Maker DAO
The Maker DAO (Decentralized Autonomous Organization) platform is famous for its DAI stablecoin linked to US dollar. The platform enables easy trading of cryptos without worrying about their volatility. Users can enjoy financial freedom and decentralized payment advantages while maintaining the stability of fiat currencies. The platform is managed by the users and token holders. The platform encourages users to deposit Ethereum to produce DAI-stable coins.
4. Pancake Swap
Pancake Swap is a decentralized exchange app, created on Binance Smart Chain. The app utilizes smart contracts for trade execution. Users can swap between two BEP20 tokens. Yield farm, Syrup Pools, Lottery v2, and NFT collectibles are some notable features of this popular dApp. To swap the tokens, users have to connect the app to Web3wallets such as TrustWallet and MetaMask.
5. Splinterlands
Splinterlands is a card game that utilizes NFTs. The game offers ownership of gaming assets and digital play cards to the players. It is a Web3 gaming platform that allows players to earn money by playing unique games. The cross-compatibility feature helps the players to connect with other players in the blockchain easily. More than hundred digital cards are available in the game. The game offers Splintershards as the in-game governance token for the players. Users can use the token to trade the cards on the platform.
6. Curve
Curve specializes in the trading of stablecoin. Users can swap different stablecoins at comparatively low fees. It is a blockchain-based decentralized exchange platform that utilizes liquidity pools to encourage users to deposit their tokens into the pools. Curve DAO token is a utility token offered on the Curve platform. The primary objective of this platform is to bring together individuals seeking to exchange ERC-20 tokens and stablecoins through various exchange protocols. It is a non-custodial platform that allows users to take charge of their tokens.
7. Step App
Step App is a movement-based app that allows users to earn money while working out. The platform is created with unique combination of finance and fitness. Participants are rewarded FITFI tokens for participating in physical activities like walking and jogging. The goal behind the introduction of the Step App is to encourage users to lead a healthy and active lifestyle.
8. NBA Top Shot
NBA Top Shot is an innovative NFT platform developed on the “FLOW” blockchain. Dapper Labs have created this ground-breaking app. The platform showcases digital basketball collectibles as NFTs. Users can trade these collectibles in the NFT marketplace. They have to register on the official website of NBA Top Shot to purchase NFT collections. They can also exchange digital assets based on video content within the game. The FLOW blockchain enables transactions on popular NFT markets like NFL All Day and UFC Strike for more diverse trading opportunities. Listed NFTs are brought with the help of a debit or credit card.
9. Filecoin
Filecoin is an open-source protocol utilizing blockchain technology to offer secured data storage services. Users can safely store their files or other people’s files in Filecoin for specific charges. Filecoin has a robust storage architecture that ensures data redundancy and reliability. It combines with IPFS( a peer-to-peer distributed storage network) to provide permanent references to data without depending on any cloud servers. The application of Filecoin ranges from Web3 native NFT to Metaverse’s game assets storage.
10. Socios.com
Socios.com is a revolutionary dApp that appreciates its fans by rewarding them with exciting prices and tokens, for showing dedication towards their favorite clubs. Tokens are distributed as finite digital assets created using the Chiliz Chain. Token holders are granted governance power to participate in essential club decisions. Other benefits of the platform are online rewards, promotions, and VIP experiences for dedicated fans. Famous gaming clubs such as Barcelona, Man City, and Arsenal have also partnered with Socios.com to enhance the performance of the app.
