Ethereum has a long and varied history, as might be expected from one of the earliest major projects in the decentralized space. Since its beginnings, Ethereum has been hacked, forked, praised, criticized, and faced fierce competition from other second and third-generation blockchains. But Ethereum has stood the test of time and further proved that it is an integral part of the crypto ecosystem.
One of Ethereum’s primary value propositions is the hosting of decentralized applications, or ‘Dapps,’ which fill a wide range of use cases much like traditional applications for a mobile or computer. However, the difference is that Dapps have many of the desirable features associated with decentralization by default due to being blockchain-based.
According to ‘DappRadar,’ a platform that collects information on Dapps, the Ethereum network hosts a wide variety of Dapps, the most of any chain, for a wide range of use cases. Let’s explore some of the most popular examples here.
What Do the Most Popular Ethereum Dapps Look Like?
Within four years of going live, the Ethereum network already had over 1,300 Dapps built on it. These Dapps encompass a wide range of industries and use cases, and the top 10 list often consists mostly of games, exchanges, and gambling Dapps.
Blokt have compiled a list of the top 10 Ethereum Dapps, utilizing data from DappRadar, which provides a great overview of the different ones which are popular in the market right now.
IDEX (Decentralized Exchange)
IDEX is a decentralized exchange (DEX) used for trading Ethereum’s many ERC-20 tokens. IDEX claims to combine:
To get started a user has to unlock their Ethereum wallet, which is usually done through the MetaMask extension, or as IDEX recommends, the Ledger hardware wallet. Next, the user has to deposit tokens on the exchange. Users can then buy, sell, withdraw, and deposit tokens.
The tokens listed on IDEX are traded against ETH, WBTC, TUSD, and DAI.
ForkDelta (Decentralized Exchange)
ForkDelta is another decentralized exchange that allows users to trade Ethereum and ERC-20 tokens among each other.
ForkDelta, launched in January 2018, has a clear roadmap which shows its progression and what the exchange plans to do in the future. ForkDelta is a community-based project that accepts public donations.
The exchange depends on Ethereum-hosted smart contracts. Under normal circumstances, deposits and withdrawals take less than five minutes to settle, unless there is significant Ethereum network congestion.
HyperDragons is a blockchain-based strategy game. On the welcome screen, users are asked to complete email verification if they want to receive dragon and DST rewards. Users need to have ETH or DST tokens to register.
Each players data, such as in-game collectibles and progress, is immutably stored on the blockchain.
According to DappRadar, HyperDragons has:
The Dapp has a built-in decentralized exchange that allows users to trade ERC-20 tokens. Trading on the platform follows the familiar procedure of connecting a wallet, adding and wrapping Ether, and unlocking tokens.
Blockchain Cuties (Game)
Blockchain Cuties is a collectible game that allows users to play with animals such as puppies, dragons, bear cubs, cats, lizards, and more.
Each cutie is unique and only belongs to the user. Users can easily collect the ‘cuties,’ breed them, test their battle skills, and arm them. Each cutie is an ERC-721 token, a form of non-fungible token, that can be sold to other players in a similar fashion as cryptocurrencies are traded.
The game has a multiplayer mode where users can fight against each other.
Etheremon, whose name is presumably a tribute to classic trading and collecting games Pokemon and Digimon, is a game that combines the benefits of both blockchain and virtual reality technology.
According to the game’s website:
Etheremon provides users the opportunity to own in-game assets, which can be neither stolen nor influenced by external forces.
Users can train their in-game creatures, called ‘mons’ so that they can accumulate more value. The mons can evolve and lay eggs. Game players can also mine an in-game ERC-20 token known as ‘EMONT.’
EtherDice is a provably fair dice game with a simple user interface. A user can bet on flipping a coin or rolling a dice. The player may also specify how much they want to wager.
The game also has an exchange feature that offers the players an opportunity to be the house, by buying the in-game Dice tokens.
Kyber (Decentralized Exchange)
The Kyber Network is a system which enables decentralized token swaps everywhere.
The system’s on-chain liquidity protocol is utilized by financial protocols, decentralized exchanges, token teams, Dapps, payment systems, investors, wallets, and fund managers.
KyberSwap provides simple, instant, and secure token swaps.
CryptoAssault is a war game that allows users to build to their own army. Players need to purchase unique and tradable ERC-721 tokens called Units. The units can be bought from the on-going sale and start building an army.
The units can be merged together to create more powerful units. The game has a huge 3D world that accommodates thousands of players. The units move in real-time as they battle other units and capture territories and mine resources.
The units own pieces of land. Players with huge territories receive daily Ethereum rewards. However, the land is not treated equally. Players who own the land in the center receive higher rewards.
Just like in the real world, players can join forces and launch coordinated attacks.
CryptoKittiesis a video game based on the Ethereum blockchain that allows players to buy, collect, breed, and sell several types of virtual cats. It represents one of the earliest and probably the most important attempts at bringing blockchain and recreation together.
The game gained so much popularity that it caused the Ethereum network to become congested in December 2017. The number of transactions on the protocol hit an all-time high, but the network was significantly slowed down.
The virtual cats are breedable, and each has its own distinct DNA. On Dec. 2, 2017, the first cat known as Genesis was sold for 246.9255 ETH (~ $117,712 USD) at the time. A non-fungible ERC-721 token represents each cryptokitty.
Good Luck Casino (Gambling)
Good Luck Casino is an online gambling platform that currently offers three games – 3D Roulette, Baccarat, and Casino Hold’em. The platform is working on adding new games such as Big Wheel and BlackJack.
Good Luck Casino was developed by an experienced team of developers and operators.
The basic requirement for playing a game on the platform is the Ether cryptocurrency and a digital wallet such as Metamask. People with Ether in their wallets can place their bets on a game of their choice. Any winnings are immediately deposited into the players’ wallets.
The online casino has a betting board which displays in real-time how other users play games.
Since Ethereum launched its Dapp capabilities, multiple developers have leveraged the power of its decentralized blockchain to build the next generation of Dapps, of which the ones we’ve explored here are just a few examples. As the Ethereum blockchain matures, it’s highly likely that many new Dapps will be developed.
- What is Ethereum and How Does it Work?
- What is Decentralized Application (Dapp) and How Does it Work?
- The Meaning of Decentralization by Vitalik Buterin
With the large number of cryptocurrencies out there in the crypto world, Ethereum is one of the biggest cryptocurrencies with Bitcoin remaining up on the list. It is a distributed blockchain network, similar to Bitcoin, that can be exchanged among users, but there are major differences between the two.
Bitcoin uses blockchain, which aims to become a successful peer-to-peer cash system. Whereas Ethereum only focuses on running the application’s programming code.
In addition, the miners work to receive Ether in the Ethereum blockchain framework, which is used by the various application developers to pay for the services on the Ethereum network.