The Ethereum dApps has been the remarkable success story of the 2nd generation blockchains. It brought the possibility of using the decentralized ledger to deploy services that did not rely on central control.
This opened up new possibilities for creating products that did not ask for control over the person's funds or sensitive information.
As such, dApps first in Ethereum and then in many other blockchains, have exploded, and now they are going mainstream. There are now thousands of dApps live and in operation. We'll look at which ones are the most promising for the year to come while discussing their features and uses.
One of the biggest trends currently developing in the blockchain is Non-fungible tokens (NFTs).
These are tokens hosted on a unique blockchain. This means they are significant to represent collectibles or memorabilia described in a distributed ledger.
Of course, the prominent example is Crypto Kitties, but Super Rare takes the concepts further.
Super Rare is a marketplace and auction house for digital art. These artworks are represented by being associated with a crypto token created under the NFT standard, so buyers now each piece is unique or a member of a limited collection.
This has allowed for the creation of an entirely new market for art traders and collectors. Also, it opened a new world of trading for online traders. The combination has been a success, and Super Rare keeps growing, and it won't slow down in 2021.
Now, Super Rare is an Ethereum dApp, which means it has full support for Meta Mask and other Ethereum wallets. This means that it shares the same limitations as other Ethereum dApps, as it can be slow when there is congestion on the network. Additionally, when gas fees are high, some of the art pieces being sold can be unprofitable when factoring in the transaction costs.
Argent is an Ethereum dApp which aims to be the first crypto wallet focused solely on DeFi. With one click, an
Argent user can exchange their Ether for stable coins, stake their funds on many protocols such as Aave, Compound, Dai savings, etc., and receive rewards from these projects directly to their Argent wallet address.
The UI has been designed to help pure beginners in DeFi access these services efficiently. All is done through a user interface, and there is no need to interact with a command line.
This has made Argent one of the best wallets and one of the fastest-growing Ethereum dApps in 2020. No doubt, these will continue in 2021.
Of course, since Argent doesn't allow a user to choose a transaction's speed, it always goes for the fastest and most expensive option. This can be very expensive if the gas fees on Ethereum are high and there is no way to adjust them inside Argent.
Dharma is another Ethereum dApp which allows people to buy DeFi assets directly from their bank accounts.
Additionally, it is a money market for loans done through the blockchain offering higher annual percentage rates than any bank account.
It has over 2000 tokens and other assets listed on its marketplace, with more added each day.
In many respects, Dharma is the most successful peer-to-peer lending platform on any blockchains or the old financial system.
It has gained a lot of acceptance in recent months and has launched its mobile crypto wallet connected directly to its DeFi marketplace. As a result, it is becoming the premier on-ramp for DeFi products on the Ethereum network.
1inch Exchange is a Decentralized Exchange aggregator. This means that in the 1inch platform, a user can find the best price from all the Dexs running on Ethereum.
For any pair of assets, 1inch pulls prices from Uniswap, Bankor, etc., as shows them to the user from cheapest to most expensive and allows them to buy directly from their site.
In this way, any trader can see the best prices across all the Dexs and be sure he/she is making the best trade possible. Additionally, 1inch has implemented something called the Chi token. Every time a person makes a trade, the platform gives back some Chi tokens.
These, in turn, can be used in exchange for gas, making transactions cheaper over time.
One drawback of 1inch is that some traders tend to fail regularly. In Ethereum, when a transaction fails, the gas is still spent, so there is no way to get it back.
This can be very frustrating and annoying when it happens. But the team is working to reduce the instances of failed transactions continuously.
Aave is a money market dApp on the Ethereum network. It allows for the borrowing and lending of tokens created on Ethereum in exchange for annual rates for deposits made in their platform.
Additionally, Aave gives rewards in the Aave token, which can be used for liquidity mining or sold for instant gains.\
Aave was the first to introduce workable flash loans on blockchain at the start of 2020.
They became one of the best products to date and are hugely popular with the Ethereum DeFi community. As such,
Aave has grown tremendously during 2020 and will continue to do so in 2021.\
It is one of the most used dApps on the Ethereum network, and it remains developing new products such as uncollateralized loans, which will be deployed next year.
All and all, there are a lot of reasons to keep an eye on Aave.
Wolf Bet is a blockchain gambling dApp hosted on Ethereum. It also allows for bets using Bitcoin, Tron, Dogecoin, and many other crypto coins. It has gained a lot of popularity due to its wide variety of games and fairness.
Every bet made on the platform is backed on the blockchain so it can be verified the system is not cheating the users.
The player base has grown exponentially due to these security assurances, and now Wolf Bet sits at the top of the gambling category of dApps. Many view it as the future of online gambling, and it has innovated on a stale industry.
Of course, the same drawbacks of other Ethereum dApps are also applied. Things like high gas fees and problems with network congestion also affect Wolf Bet.
Upland is our first dApps not hosted on Ethereum as it is on the EOS blockchain.
It is a property trading game where people can buy real-world addresses in the game world. These are pulled out of the physical earth and included on the Upland marketplace for people to buy and trade.
The trades are made with the UPS token, which has real monetary value as it can be exchanged for other tokens or crypto coins.
Upland is one of the great successes of the EOS blockchain and distributed ledger gaming in general. It has a growing user base and a real monetary impact.
Right now, there are only properties from the US listed on the site. More are on the way, but support from other regions of the world will take time to develop.
Also, EOS doesn't have many users, so it can be hard to get people to adopt it.
The best DeFi dApss on Binance Chain and the current most used Dex on all of the blockchain.
It grew as the answer to\
Uniswap on the Binance Chain, allowing for all the same features Uniswap has on Ethereum to be brought to the Binance Chain.
From there, it has grown tremendously with more than 4000 assets listed on their exchange.
It also allows for Yield farming by providing liquidity to the pools of Pancake Swap. The rewards tend to be higher than equivalents on Ethereum, which has made this platform even more popular with the DeFi crowd.
Pancake Swap is proof that not all of DeFi is happening on Ethereum, and soon this blockchain will face stiff competition in 2021.
Wink is a dApp from the Tron network. The largest gambling dApps on Tron and among the 5 most used gambling dApps on all blockchain networks. It has gotten massive acceptance in the Asian market. Where more of its users are located.
It also conducts airdrops regularly to its user base to encourage more engagement in the platform.
It not only hosts many gambling games, but it also allows for sports and professional gaming bets on its website. All the results are pushed on the Tron blockchain and verified independently, making it very secure and transparent.
Crypto Dynasty is a trading dApp hosted on Ethereum. The Crypto dynasty uses the NFT model to create unique in-game items that can be traded among players for their native tokens. Of course, as with anything on the blockchain, these tokens have a real monetary value. So, making monetary games by acquiring these game items and selling them in their marketplace is possible.\
The game has a huge player base, so it is easy to find willing buyers on their platform. It has been around for a while, so there are many updates and content, unlike games developed recently.
Yet, as with any mobile game. It suffers from aggressive monetization and Skinner Box techniques to make players spend more money on the game. This can make the game frustrating and annoying to use over long periods.
A fantasy football game (or soccer if you say it wrong) dApp uses NFTs to create cards for players. This allows the users to trade on the platform and create their dream football teams on the blockchain. It has support for over 70 football clubs from Europe, the US, and Asia at this writing time.
It has become the official trading game for many Spanish league teams such as Juventus, Atletico Madrid, and Olympique Lyonnais. This has led the company to successfully raised 4 million dollars in seed funding to continue developing the game in 2021.
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Open Sea is a marketplace for NFTs. This means that any NFT obtained in places such as Crypto Dynasty, Super Rare, Crypto Kitties, etc., can be brought to the Open Sea platform and sold to gain access to a different market.
Open Sea aggregates NFTs from many dApps on Ethereum in one single market place. This allows them to search for better deals than when using the marketplaces of the original asset.
Additionally, trades for uncorrelated assets, like crypto kitties for digital art, can be done in the Open sea exchange, increasing the possibilities for profit.
Many assets listed\
Easy to use
Trade fees can make some exchanges unprofitable
The world of blockchain keeps evolving by the minute. Some of the dApps presented on this list barely launched a few months ago, yet they have grown exponentially in just a few weeks.
As 2020 comes to a close, it is time to look ahead to gain an advantage over fewer ware users. Some of the dApps presented here will be the great stories of the next year and will pay to be ahead of the curve.
In the same spirit, read The Best Cryptocurrency to Buy in 2021 to gain knowledge of which will be the best crypto coins for 2021 and keep an eye on the world of blockchain.
