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DApps are trending among the crypto community members.
Lets take a look at the top DApps out there!
Decentralized Applications (DApps) are digital programs or applications that operate on computer nodes.
These nodes use a distributed connection rather than a single server.
In 2019, the estimatedmarket size of DApps was over $10 billion.
As per the current growth rate, the market will reach $368.25 billion by 2027.
The growth projection of the DApps market is pacing at a CAGR of 56.1%.
A single authority does not control DApps.
Apart from that, DApps can provide services of regular traditional apps while enjoying the benefits of decentralization.
Major Advantages of DApps
DApps provide prime importance when it comes to the users privacy.
In addition, the other benefits of DApps include development flexibility and lack of censorship.
Unlike centralized apps, the users need not provide their personal information for using DApps.
The transaction process between two parties takes place with the help of smart contracts.
It is easy to develop DApps.
This feature helps app developers to build innovative digital applications.
So, lets explore the major DApps.
PancakeSwap
PancakeSwapis a decentralized exchange (DEX).
This decentralized exchange, built onBinanceSmart Chain, allows users to swap between two BEP20 tokens.
PancakeSwap uses smart contracts to execute all trades.
PancakeSwap gained popularity for the liquidity of the listed assets.
CAKE is PancakeSwaps native utility token.
CAKEs use case includes staking, yield farming, lottery participation, and governance voting.
The connected wallet stores the swapped tokens.
PancakeSwap users can execute the trade without waiting for the order to match.
Another major benefit of using PancakeSwap is its low transaction fees.
Compound
Compoundis a DApp that allows users to borrow, lend and earn interest in certain cryptocurrencies.
To reach the features Compound provides, the user needs to connect the platform with their wallet.
The platform uses an automated system to match a lender and a borrower.
After finding the matching users, the platform exchanges funds from the liquidity pool.
COMP is the governance token and native crypto for the platform.
The token allows users to cast votes that determine Compounds future development.
OpenSea
OpenSea is a decentralized NFT marketplace for trading, buying, and selling digital goods.
OpenSeais one of the largest marketplaces for NFTs.
The user can open a free account on the platform to trade various listed NFTs.
Besides that, the marketplace is customizable to develop NFT-based projects.
The creators are given the privilege to set their fees for their digital creations.
The OpenSea user must connect their crypto wallet to trade the listed NFTs.
The trend created around the NFTs after the pandemic outbreak attracted massive users to OpenSea.
Splinterlands
Splinterlandsis a play-to-earn digital card game.
Splinterlands is a Web3-powered gaming platform developed to solve the issues faced by traditional card trading games.
Splinterlands has a blockchain of its own that provides in-game stability.
Apart from that, the gaming platform is adaptable to frequent upgrades.
The cross-compatibility feature is another major advantage of Splinterlands.
Splintershards (SPS) is the in-game governance token of the Splinterlands.
Moreover, SPS also acts as the primary gaming currency to trade cards.
In addition, SPS holders can participate in various governance-based decisions in the Splinterlands ecosystem.
Uniswap V2
Uniswap V2is the second iteration of the decentralized protocol Uniswap.
With the introduction of Uniswap V2, the users no longer needed to addETHas one of the crypto assets.
Uniswap V2 allows the users to directly swap between two ERC-20 tokens to reduce the total number of transactions.
Moreover, reducing the number of transactions helps the users reduce the gas fees charged.
Another important feature of the Uniswap V2 is the Flash Swap.
This feature allows the user to withdraw any number of ERC20 tokens from Uniswap without paying an upfront cost.
After the complete execution of the transaction, the user can pay accordingly.
Uniswap V2 uses Solidarity language for writing the smart contract.
This feature boosts the technical improvement of the platform.
Arc8
Arc8is a play-to-earn platform for mobile gaming.
Also, the game rewards players for their loyalty, effort, and gaming skills.
The GAMEE Token (GMEE) is the ERC-20 utility token of the gaming platform.
The GMEE tokens are used as entry fees, gameplay payments, in-game rewards, and voting.
Arc8 gaming platform also rewards the players for inviting their friends.
The platform rewards both friends involved in the referral process with GMEE bonuses at certain gaming levels.
Moreover, the gaming platform has over 50 games, including live multiplayer games.
Socios.com
Socios.comis a DApp that empowers the fans supporting various clubs with tokens and rewards.
Socios.com provides fan tokens in the form of finite digital assets built using the Chiliz Chain.
Besides that, the communities built around Socios.com integrates the fans regardless of geography.
Moreover, the platform actively adds more major clubs and fans.
Similarly, all the trading activities associated with the fans token occur in the Socios.com marketplace.
Step App
Step Appis a DApp that combines fitness and finance.
The program uses geolocation technology, metaverse, and NFTs for a better user experience.
The Step App rewards its users for participating in physical activities such as running, jogging, and walking.
The trend around movement-based apps added more members to the Step App community.
In addition, the reward system inspires the app users to participate in various physical activities.
The Augmented Reality feature provided in the app evolves and grows upon fulfilling fitness goals.
FITFI is the governance token provided by Step App.
Besides that, the purchased SNEAKs reward the running user with KCAL tokens.
In addition to that, the user can mint SNEAKs with KCAL tokens.
Alien Worlds provides an opportunity for players to stimulate economic collaboration and competition.
In addition to that, TLM is also used to purchase NFTs.
Alien Worlds runs on Ethereum, WAX, and Binance Smart Chain (BSC).
The active platform users are rewarded with TLM tokens for developing an in-game ecosystem.
The NFTs available on the marketplace are divided based on rarity and shininess.
Similarly, the five shininess levels consist of Stardust, Stone, Gold, XDimension, and Antimatter.
NBA Top Shot
NBA Top Shotis a marketplace that lists digital basketball collectibles as NFTs.
Likewise, the fans can also trade,buy and sell the collectibles from the NFT marketplace.
The NFT platform is built using the FLOW blockchain developed by Dapper Labs.
In addition, this projects famous investors include Michael Jordan, Klay Thompson, and Kevin Durrant.
The video highlight also consists of famous moments from various NBA games.
The value of such NFT videos depends on their rarity.
The registered users can purchase the NFTs listed on the marketplace with a debit or credit card.
Apart from that, the users also can connect their wallets to the platform and purchase the NFTs.
Final Words
The development of DApps helps users enjoy the benefits of decentralized systems.
Furthermore, DApps solve various problems faced by the traditional centralized system.
The major benefits of DApp users include privacy, safety, low transaction fees, and flexibility.
Despite the advantages mentioned, the user must ensure the credibility of DApp before engaging in any financial transaction.
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