6 BEST DAPPS YOU SHOULD USE 2020
Imagine an application that does not run on a single server, but harnesses the excess power of thousands of computers globally, and that can be managed by software for business automation which ensures that a function can only be executed if a certain parameter is met.
It is a distributed application, or dApp, as it is often abbreviated, and there are thousands of downloadable applications.
WHAT DO YOU MEAN BY DAPP?
An abbreviation for decentralized application is the word “dApp”. On your mobile computer, these apps look just like any other app. The distinction between an application and a dApp is that the latter’s backend runs instead of centralized servers on a decentralized peer-to-peer (P2P) network.
The front end of dApps can be written in any language, much like standard apps. As for hosting, dApps, like Swarm or IPFS, can opt for decentralized storage. Though dApps have not yet been tried by many of us, they can be easily downloaded from Google Play or the App Store.
Theoretically, the following conditions should be met by dApps:
1. Open Source: The source code should be available to the public.
2. Decentralized: to run operations, it leverages cryptographic technology.
3. Incentive: in the form of digital tokens, it offers incentives to users.
4. Protocol: the system produces tokens and provides a process of inbuilt consensus.
USE OF DAPPS
DApps are a lot like normal apps on your smartphone, as described above. That said, it is possible to use dApps for any reason. There are no limitations on what dApps can do for casino games, token swaps, and search engines. It is important, however, that the use of the application through digital tokens is encouraged, regardless of its purpose. That’s an essential part of a decentralized application, after all.
Here we have highlighted the best dapps in a variety of categories and blockchains so that you can take your first steps into the decentralized app world and find out what you’ve missed out on!
1. Aave:
Aave is a distributed, open-source, and non-custodial money market protocol. Depositors gain interest by supplying lending pools with liquidity, while borrowers may receive loans in an over collateralized or under collateralized manner by dipping into these pools.
So far in 2020, DeFi and Exchange dapps have seen a meteoric rise in popularity and Aave is one of the key players in that room.
2. SuperRare.co:
Digital art is not often able to hop on the hype train of the blockchain, but the industry is steadily developing its momentum. Super rare, an Ethereum-based marketplace for single edition art objects, is leading the pack, reporting that $1 million in revenue received by artists who have sold more than 7,300 artworks in the process has passed two years after its launch.
Described by a very clean gallery-like UI, SuperRare is a simple dapp for artists and collectors to uses, each of which creates its pages as they upload and sell art and collect and exchange art respectively.
3. CasioFair:
The largest single dapp group on DappRadar remains Gambling. With 1.027 or 30 percent of all dapps monitored sitting in the Gambling group at the time of writing. The total number of current blockchain-powered casinos in space is bulging. This implies that it is difficult to reach the landscape and establish a place of leadership.
CasinoFair is one such popular blockchain casino site. The casino, founded by FunFair, has managed to establish itself in the industry as a famous brand.
4. Zapper.Fi:
DeFi Zapp is an open financial composability network that aims to cultivate relationships between new finance entrepreneurs (Zap Builders) and end-users (Zappers). DeFi Zapp is formally a community-owned platform. Zapper.Fi helps users to access all their DeFi tools from a single, convenient GUI.
Combined with the recent integration of Balancer, it is safe to assume that Zapper is fast becoming the most diverse place to transfer capital in an intuitive and co-operative way across the DeFi landscape.
5. 1-Inch inch:
The 1-inch dapp has more than its daily activity during 2020, being one of the top dapps on Ethereum for DeFi. This increase was driven partly by the overall momentum of DeFi, but even within this category, thanks to its simple UX and smart features, 1 inch performed particularly well.
At its core, 1 inch is a decentralized exchange that allows users to trade tokens for ERC20. However, the clever element is the aggregation component that allows the liquidity of other DEXes, such as Uniswap, Kyber, and Oasis Trade, to be leveraged.
6. Splinterlands:
After successfully moving from the Steem to the Hive blockchain, the dapp Splinterlands card collection is riding high as the most common dapp monitored by DappRadar. It is a testament to the game’s large community, which was originally launched back in 2016 as Steem Monsters.
One of the best examples of how to integrate blockchain functionality with gaming is arguably provided by Splinterlands. Splinterlands is a PVP experience in which dual players choose to figure a deck from the card collection, with the actual fight being auto-played by the game in a deterministic way.
Must Read: A COMPLETE GUIDE TO BUILDING A MOBILE APPLICATION
Conclusion:
An overview of the DApp environment shows that while the ease with which DApps can be developed on the Ethereum platform attracts many developers, most of the activities are currently based on a few use cases, such as DEX and online gaming.
