The ethereum platform is proving to be among the most widely utilized tools for the creation and deployment of DApps thanks to its smart contract system.
Developers are making use of this technology to boost the legitimacy of the blockchain innovation even as the larger portion of the crypto market holds on to its speculative investment role.
Take a look at five of the most outstandingDApps (decentralized applications) that go to show that blockchain technology can do so much more than merely supporting currency investment.
Funfair – Gaming DApp
This is a project built with the aim of upending the current gaming industry model. It addresses one of the biggest challenges gamers have to contend with - trust. It makes use of the transparency inherent in the smart contract framework to streamline the industry. The Funfair network is currently recruiting online gaming and casino companies to offer opportunities for fair play on a wide array of gaming options.
Augur – A DApp for Predictive Markets
This platform allows investors to make real-time predictions and bet on them using real money with the potential to earn rewards for every correct prediction. This incentivization model motivates participants to make accurate and informed predictions so as to avoid losing money and in fact make a profit.
The concept is based on research showing a higher likelihood of getting an accurate prediction from a predictive market as opposed to individual analysts.
EtherDelta – A DApp for Crypto Exchanges
This is a decentralized token exchange platform based on the ERC-20 standard. It offers the advantage of listing new tokens way before they make it to popular sites like Bittrex and Binance. This allows buyers to enjoy early riser benefits and trade their tokens in future at a profit.
The main merit that it offers over traditional exchanges is that users do not at any point need to store their currency on the platform. It also has much higher security as there is no single point of attack as is the case with centralized platforms.
BlockCAT – Simplified Coding DApp
The main objective of the BlockCAT DApp is to demystify smart contracts by making them accessible even to non-coders. The platform provides an intuitive user interface that connects to backend coding, allowing anyone to set smart contract terms and deploy them on the Ethereum platform.
This is a highly functional tool for both business and P2P applications as it makes it easy to streamline operations using the automated feature.
Golem – A DApp for Monetizing Computing Power
Golem offers a “global supercomputer” whereby users from all parts of the world can contribute unused processing power and earn passive income from it. It seeks to disrupt the current data center model by offering a more cost-effective solution and taking the power from a few monopolies and sharing it on a global scale.
The ethereum platform and its smart contract functionality is pushing the functionality of blockchain technology far beyond the financial industry. They are disrupting numerous incumbent models and eliminating the risks and costs posed by third party intermediaries in transactions.