DApp projects are versatile and here are the 10 most common ones you can try if you are new to DApps in 2023
A dApp, or decentralized application, is similar to any other software on your phone but incorporates blockchain technology for added functionality and security. Privacy is one of the key benefits of such an app. Your data is private to you and is not accessible through the app by any business or person. The dApp runs on a distributed network of nodes rather than being managed by a single business or entity. Because of this, the dApp is run and governed by its users rather than a huge corporation like Meta or Google. DApps come in a variety of shapes and sizes, including social networks, games, and financial apps. All of them make use of blockchain technology and smart contracts to create innovative ways to control, manage, and use the applications we have grown accustomed to.
1. One of the most well-known play-to-earn games built on the Ethereum blockchain is called Axie Infinity. It entails gathering, rearing, and engaging in combat with Axie creatures. Since its launch in 2020, the platform has experienced great success, bringing in more than $1 billion in revenue in 2021.
2. A decentralized exchange based on the BNB network is called PancakeSwap. Smart contracts are used to enable trades between BEP-20 standard tokens. Additionally, the platform provides a variety of ways for users to make money. These include NFT collectibles as well as yield farming, staking, and lotteries.
3. Compound is a DeFi protocol that permits activities in a decentralized environment like borrowing and lending. Compound, which is based on Ethereum, enables users to make money by lending money to borrowers on the network. The protocol automatically connects lenders and borrowers using an Automated Market Maker (AMM) to enable a straightforward and smooth operation. At the time of writing, COMP is trading at $38.48 and has a market cap of $279,697,000.
4. Curve, a prominent decentralized program that enables users to effectively trade between several stablecoins including DAI, USDT, and USDC, is another decentralized exchange. The platform’s cheap costs and little slippage are its key benefits. Curve employs an Automated Market Maker, similar to other DEXs, to provide liquidity and connect lenders and borrowers.
5. Yearn Finance is a DeFi protocol that automatically moves and reinvests customers’ money to provide them with the best returns available. Users may use this to generate passive income and feel certain that their money is being used wisely. At the time of writing, YFI has a market valuation of $269,587,000, or $7,358 per token.
6. The most well-known marketplace for purchasing and selling NFTs and other digital assets is OpenSea. It supports 8 different blockchains, including BNB Chain, Polygon, and Ethereum. It gives people the means to build dynamic, platform-based new economies. OpenSea, which was founded in 2017, is now valued at $13.3 billion. The platform is now the largest NFT marketplace with over 1 million registered users.
7. The decentralized network MakerDAO is most well-known for its stablecoin, DAI. A stablecoin linked to the US dollar is called DAI. It makes it simpler to use crypto tokens for transactions without being concerned about their volatility. It maintains the stability of fiat currencies while enabling financial independence and the advantages of decentralized payments. MKR is now trading at $645.1 and has a market capitalization of $631,753,000.
8. Sport is a huge business, and NBA Top Shot is a well-liked venue for spectators to cheer on their preferred athletes. Using their FLOW blockchain, Dapper Labs developed the platform. The trading card experience is included in a digital format, and moments are created by buying packs from the market.
9. Step program is a well-known Move to Earn program that enables you to make money while working out. It counts your steps on your phone and pays you in cryptocurrency for running or walking. You may purchase a “SNEAK” NFT to begin going. You may improve your app profits by upgrading and gathering them.
10. Uniswap is a decentralized exchange (DEX), much like PancakeSwap. However, Uniswap, which is based on the Ethereum blockchain, enables direct trade between buyers and sellers. As it supports all ERC-20 tokens, an Ethereum standard, it has a larger token base.
By reducing the volume of transactions taking place on Ethereum, Uniswap assists users in cutting gas costs. The fact that it addresses one of the platform’s main issues, makes the platform very well-liked by Ethereum users.