Top 5 Ethereum dApps: Diamonds in the Rough Edition
Ethereum dApps have driven a plethora of ICOs to utilize smart contracts and deploy unique platforms and ecosystems in a decentralized manner. While most analytics judge dApps on DAU (Daily Active Users), we will break down the Top 5 Ethereum dApps a bit differently…
Although paralleling an existing website and mounting it to the blockchain may seem easy on paper (or maybe it doesn’t). Compare it to pioneering a whole new concept that utilizes the blockchain’s true decentralized nature. This manifests a renaissance of ideas which can and are changing how we use these decentralized applications.
Let us explore the idiosyncratic parts of both these types of dApp concepts and what makes them each stand out in and from the crowd.
Ethlance
Ethlance is essentially a decentralized version of Upwork; a decentralized marketplace for jobs and hiring freelancers hosted on the Ethereum blockchain.
What’s interesting and transparent about this is hat it charges absolutely no registration fee or contractual work commission. Being that it is totally decentralized, the platform can sustainably run with 0% service fee. The dApp enables freelancers and employers to work directly together with the smart contract.
Gnosis
The Gnosis dApp is in its beta phase but can be used for predictions. Gnosis is a platform that is hosted on Ethereum’s blockchain and is designed to work as a prediction market.
For example, let us say you want to know the market prediction of a football match or an exclusive international auction. Here, Gnosis can help you find out the answers to difficult questions as well as help in price discovery. It has its native token GNO that lets you vote and is available on Bittrex.
Bancor
Bancor enables users of the Bancor Network to instantly purchase or liquidate smart tokens for any connected tokens while continuously recalculating a price to fit real-time buy and sell volumes.
The Bancor Network is a decentralized liquidity network, enabling:
- Automatic price determination
- Autonomous liquidity for tokens
- Conversion between any 2 smart tokens on the network
Bancor leverages smart contract capabilities to build liquidity into the tokens themselves called Smart Tokens — connecting them to other tokens in the network, known as connectors, which carry the value and balance of another token.
The result? An Internet of Value that is continuously connected due to each token’s autonomous liquid link to the rest of the digital and token economy.
Golem
The Golem Platform is the Airbnb (house rental) or Turo (car rental) of computers. Essentially a marketplace where you can buy or sell surplus computing power.
Golem supercomputers will run once the user pays in Golem’s native token, GNT. These tokens will be given to people who have rented out their extra computing power on the Golem network.
Today, GNT is available on 60 different Markets.
CryptoKitties
Collecting is a practice with a very old cultural history. CryptoKitties is a game that gives users access to digital cats that can be bought, sold or bred. These unique felines are called cryptocollectibles. The CryptoKitties app, a blockchain powered game, is also hosted on the Ethereum blockchain.
Similar to cryptocurrencies, the CryptoKitties app also thrives on Ethereum’s blockchain. Just like each Bitcoin or Ether, each cryptokitty is also unique. These cryptokitties are like a new form of collectibles, decentralized collectibles.
dApplications
DApps are only as functional as their everyday application. The five selected here have touched on different genres of life. From work dApps to hobby dApps to vacation rental dApps, their decentralized nature is made practical and most importantly it connects you, the user, to the world of decentralized verification.
Thank you for reading!
Rye Crypto
Artwork credit: https://www.instagram.com/crypto_design/
