Blockchain technology has been skyrocketing high for the past years, more and more people are realizing the security and opportunity it brings in both the internet and the end-users daily living. Now that Ethereum expands the technology capabilities even more with smart contracts, decentralized applications just keep on coming in the virtual world.
Now you might be wondering, "What decentralized applications are you talking about? I don't see them anywhere." That's what you think, there's actually thousands of decentralized applications using blockchain. Fortunately, you're here, and I can showcase you 5 decentralized applications that are currently running on the web.
こんにちは、わたしはマルクス (Twitter Account: @markusveeyola) です。
Decentralized Application
A decentralized application, or commonly dubbed as DAPPS, is fueled by countless users on a distributed network. To avoid any single point of failure, they are designed to be bug-free, at least for its fundamental functionalities. This applications operates by typically having tokens to reward miners for providing computing power.
It follows a Peer-to-Peer network and its code base is publicly open for others as an open source to be accessed, verified and customized, it will only differ on the scope of privacy. A DAPP is not owned by anyone in the network. Peers in the network can be any single computer which is connected to the internet.
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Edgeless
This is a decentralized casino application built from blockchain. The platform produces an online casino that offers 100% transparency and zero edge for its playes. Hence the name, Edgeless.
Users now have the convenience to gamble on a safe and hack-free environment, because it is being operated on a platform that records everything and it is available for public verification.
It uses the Ethereum technology framework to make smart contracts to set the right rules to simulate a real casino. It uses ERC-20 token as its currency, and it can be used for staking and funding the bankroll. The token's supply is limited and new tokens can't be created.
Kyber
Kyber Network is an exchange platform application that offers instance exchange conversion and exchange of digital assets or cryptocurrencies with an impressive liquidation. The application is also used to transfer money from one person to another. All your cryptocurrencies and assets are secured in this all-transparent platform.
It has Ethereum as its engine fueled by its token KNC. It uses ERC-20 token that has to be bought for a user to operate in the network. Everytime a transaction exchange happens, a gas fee is charged as a reward for third party operations.
Decentraland
An Ethereum powered decentralized virtual reality game. It works much like the game Minecraft or Skyrim but in a very immersive way. Instead of playing on a 2D screen, you participate in a 3D world.
Decentraland is divided into two compnents, the LAND and the MANA. The places that you come across are called LAND. These are non-fungible digital objects that you buy within the gamem, thus it uses ERC721 standard. Once you own one, you can do everything you want with it. Like for example, creating games, hosting gambling services, education, and even tourism activities. The one is MANA, this is the cryptocurrency of the game, it uses ERC20 token to purchase your LAND, and other in-game purchases.
Bancor
A decentralized platform built from Ethereum that solves the problem of iliquidity in the crypto market. A user can convert from any two cryptocurrencies at a post-calculated price without using any third party applications.
The protocol of Bancor implements smart contracts to generate Smart Tokens that uses ERC-20 tokens to perform conversions. Unlike other exchange platforms in the world of cryptocurrency, its protocol does not exchange tokens with a second party.
It brings liquidity for most of tokens that has no consistent supply and demand exchanges. The network makes it easier for the user to liquidate and retreive tokens with a fair amount of trading volume while helping them out in the market at the same time.
Ledger Legends
This platform is a collectible card game that uses ERC721 non-fungible token standard for it to track its unique cards. The rules of the game are heavily infuenced by the card game, Gwent, this is an in-game mini-game from the Witcher franchise. The mechanics is simple, you just have to win by having a higher score twice in row.
By using technology, it made it easier for the cards to be utilized into a broader Ethereum ecosystem. Examples are performing exchanging cryptocurrencies, and wallet transfers. The game is is build with smart contracts that secures your cards no matter what, unlike other games, such as Hearthstone.
Finished Already?
The showcased decentralized applications must have really caught your interest, for you to get this far. I'm sure that you now get why decentralized applications are the next big thing in the internet. Well, if you want to keep on reading here's a website listing a huge amount of DAPPS.
Interested in the technology? Learning more about Blockchain is a good head start.
Here's a really good video that explains how Blockchain works, to get you started!
There you have it, I hope you learned a lot in this article, leave a feedback below and tell me what you think about decentralized applications.