Ethereum is a blockchain with a difference! Its driving force is decentralization. As a result, even its apps are famed as decentralized apps or Dapps. These apps operate on the Ethereum blockchain for initiating Smart Contracts and data storage.
Amongst the several Dapps that Ethereum provides, five remain North America’s favorites.
MakerDAO
Rune Christensen is the founder. MakerDAO is the Ethereum blockchain’s longest-running project! Its protocol consists of almost 2.5 million Ethereum (2% of total supply).
MakerDAO is a peer-to-peer lending and borrowing cryptocurrency platform. It is also renowned as an open-sourced blockchain ledger. The platform offers financial services of the highest quality to all. It operates under the vigilant eyes of Smart Contracts.
DAO stands for DAO (decentralized autonomous organization). There are clear-cut rules in place for MakerDAO operations.
The crypto marketplace is excessive in its volatility. Therefore, the Ethereum Dapp uses DAI for transactions. DAI refers to a decentralized stablecoin.
The stablecoin helps in determining the rates for lending. They become the pre-decided interest rates for loans. DAI also decides the amounts for repayment. A Smart Contract comes into play for creating CDP (collateralized debt position).
Finally, there is community governance. It means that a decentralized group of stakeholders look after the crypto protocols.
IDEX
It refers to a decentralized cryptocurrency exchange that operates on an Ethereum-based app. It takes charge of the Ethereum stablecoin. It also handles ERC20 trading pairs.
IDEX is also a token. It helps users to secure protocols, and gain useful rewards.
IDEX has the prestige of being featured in the Crypto.com App’s list. Therefore, users of Crypto.com App may buy IDEX at true cost. No extra payments are necessary for canceling/placing orders. Furthermore, every process goes through in real time.
The payment modes could be any of 20+ fiat currencies, USD, GBP, or EUR. They are welcome to approach 80+ merchants across the globe, using the Crypto.com Visa Card.
Despite operating on a decentralized platform, IDEX grants the impression of being a centralized crypto exchange. Therefore, every user feels in control.
All transactions take place in a secure and private environment. For instance, Ledger Nano S and Meta Mask integrations help in managing assets. This is considered safer than entering the user’s private key manually.
CryptantCrab
CryptantCrab refers to a crypto game. Betta Fish Fight, a traditional video game from South East Asia, was the inspiration for its creation by iCandy. However, the creator took care to introduce unique elements and markings into the game. This prevents it from being an exact duplicate of the original.
Users deem CryptantCrab as amongst the best of Ethereum Dapps. It is possible to breed crabs, with each possessing different features. This enables identification during a crab fight. Users may challenge other crabs, mutilate them, or train their own crabs for battle. Such activities require the creation of an unusual NFT (non-fungible token). In other words, users must purchase NFTs.
Cryptokitties
Axiom Zen is the developer of this crypto game. It operates on the Ethereum blockchain.
Ever since its inception in 2017, the game has garnered millions of users. Its fans are ready to pay heavily for using the app. At one time, extreme usage caused congestion of the Ethereum network.
The app enables buying, breeding, collecting, and selling digital cats. Users must purchase NFTs as representations of the kitties. Ether is the non-fungible token of Ethereum. Furthermore, the tokens must adhere to the ERC-721 token standard.
The cats are life-like, for they possess a distinct 256-bit genome. It helps them to have diverse DNAs and attributes. The fun lies in creating the kitties!
Kyber
It refers to a network that works on the Ethereum blockchain. This network enables multi-chain crypto liquidity and trading. Various sources come into play for the on-chain liquidity protocol. As a result, trading can continue at the best rates possible.
Wherever there is a decentralized crypto exchange, users may opt for instant, safe exchange of tokens. It is also possible to bring together an exchange of tokens and the application logic immediately. Towards this end, users may take assistance from wallets, applications, or websites. Kyber also permits the listing and swapping of tokens. Any kind of process goes through simply and efficiently.
