5 Things You Can Do On Ethereum Right Now
By sanneh on ALTCOIN MAGAZINE
Some of these may not be up to choice, but a necessity. There are great things happening on Ethereum right now, if you’re just a bystander, you might be missing out.
In overview, here is a list of 5 things you might check out on Ethereum if: you want to make money, need a loan but don’t want to sell your crypto, want to send money to a friend, you want to play a game, or build a mobile app with AI services.
Yes, the possibilities are exciting right now. If you’re an entrepreneur or know someone who is, there are a lot of early opportunities, and the sooner you start the greater your edge. The startups that took the first step into the unknown to provide these services all took great risks, but they’ve been just as equally rewarded for providing real value to people.
1.) Open Finance
As one of the leading arguments for writing “Why is Ethereum Better than Bitcoin?”, Decentralize Finance, DeFi, Open Finance or whatever you want to call it is the big talk of this year. Not only are people talking about it, but there’s also over $450million locked up in it already.
Open Finance is a service on Ethereum where you can get a loan or lend money an earn an APR of 8% to 12%, depending on the currency you’re dealing with.
If you need a loan or want to start earning interest, you can do it from the comfort of your chair at home in minutes. It is available to everyone in the world using the internet and it doesn’t impose any other conditions other than that you need to own some ETH(on Ethereum) or one of the “stablecoins” supported(DAI, USDC).
If you’re interested in seeing how it works, https://www.dharma.io/ is a great example of Open Finance on Ethereum.
2.) P2P Money Transfers
When I was moving out of my apartment, I had to leave a wardrobe, which was too big to move and had to be disassembled. I was minutes from leaving into a new town and I was never coming back. I sold it to the landlord, presenting him with the proposition that he could keep it for the tenants after me.
But he didn’t have a wallet on him and could not pay me on the spot. What he did have, however, was his phone. You’d leave home without a wallet, but never without your phone. If we had funds on our mobile, like an Ethereum wallet, a payment could have been made right there on the spot. When I first had that epiphany I realized how important cryptocurrency is going to become.
Burner Wallets
Are still in its infancy, but are the brainchild and work of Austin Thomas Griffith (@austingriffith twitter). You can see them in action, how peer to peer payments can be utilized at events to pay for food at food trucks by scanning a QR code. Eerily enough, this was Satoshi Nakamoto’s vision for Bitcoin.
3.) Yes, CryptoKitties Is Still A Thing
You must have heard about Cryptokitties, it was the biggest event in Ethereum game history. And the birth of NFT’s. They’re like baseball cards or other collectibles, just online.
You collect, breed and trade adorable kittens, which are unique and, did I mention adorable?
If you’d like one of these or want to learn more, head on over to https://www.cryptokitties.co, that’s where you’ll find them.
4.) Pay For AI Services
Here comes the good part. Participate in the global AI economy, today. Anyone can offer, share or buy AI services through an Ethereum marketplace. The makers of Sofia, the AI robot with official citizenship have offered their admirable work in AI to everyone for just a small fee. Now you can upload images of a dog or a flower and the AI service will recognize and identify them.
Or you can upload an image of yourself or your friend and the AI will recognize the emotion on your faces. Visit them here: https://singularitynet.io/
The possibilities are fun and endless. AI is a lot of work and if we can benefit from that tremendous work at a small fee, then that’s incredible. What’s best about it is that this service is open to everyone, again, all you need is some ETH and a wallet.
5.) BUIDL!
Which brings us to the next part. Nothing worthwhile in this world is going to come from passivity. You’ve seen a few examples of what new paradigms are possible with the help of new technology. Ethereum is only a stack that enables such features. But just what is possible and what else can be built is up to you and me to find out. We’ve never been in a point in history as we are now. We’re treading new paths and the ones leading the charge are true pioneers of society. We’re facing a technological revolution, things are about the get faster and easier and no doubt Ethereum will play a big role in that.
Microsoft has partnered with ConsenSys and Trufflesuite (companies that build on Ethereum) to integrate Ethereum development tools into their products. Their Azure Cloud will feature Blockchain as a Service which will be deployed on the Ethereum network. Their popular and highly efficient development software VS Code will have Ethereum development tools integrated right into it, accommodating millions of developers with easier access to deploying and building on #Ethereum.
It goes much without saying that now is not the time to be indecisive and afraid, if you want to do great things then you must show courage and belief. If you don’t believe in yourself, then no one else will. What problem do you think you can solve with the help of Ethereum? What problems need to be solved to make this place better and safer for everyone?
One idea that comes to mind is using AI services to develop an app that can recognize flowers and plants you find in nature. That way you can explore faster and share what you find.
You can find me on twitter: I think and talk about Ethereum and make sure we stay in the green as well!
Read my other articles here:
“Forget about Bitcoin, Ethereum is the real deal, and here’s why:”
https://medium.com/altcoin-magazine/why-is-ethereum-better-than-bitcoin-906bd200ea83
“Finding and recognizing valuable low priced projects in the cryptosphere.”
https://medium.com/@sanneh.si/who-will-be-the-amazons-of-crypto-3624282e1edc
The future of our Data. Can we put a leash on our data, what data is valuable and do you want to monetize it?
