Mankind has always strived for freedom and considered the Internet to be a perfect place to pursue it. Dapps (decentralized applications) appeared years ago in pursuit of digital independence. For example, BitTorrent and Tor are two well-known dapps that run on P2P networks and have nothing to do with blockchain. Then there was Bitcoin’s revelation and later on, the Ethereum project made it possible to build a variety of applications on top of its blockchain. So basically, Ethereum acts as an app store and users can get products directly from their creators. A lot of start-ups inspired by the opportunity started using the Ethereum blockchain as a base for developing their own projects. Apart from some infamous ICOs, some really awesome dapps have been released.
We’ve decided to tell you about the most interesting and popular dapps on today’s market and try to explain why we find them awesome.
Cryptocurrencies and exchanges keep apace with each other and there’s definitely no shortage of the latter. But IDEX is one of a kind. It is a decentralized exchange that runs on Ethereum and allows its users to connect their existing wallet, Metamask, or Ledger hardware, and to trade ERC-20 tokens. It supports limit and market orders, gas-free cancels, and the ability to fill many trades at once. Its main features are real-time trading, good speed, and advanced security as only IDEX itself is authorized to sign the trades to the blockchain. If you feel intrigued, check out this article to get more info on how IDEX is different from the other exchanges.
Oh, gambling! Another thing that the crypto industry is famous for is the infinitude of gambling dapps that run on both the Ethereum and EOS blockchains. Sports betting and prediction markers, casinos and slots — it’s really hard to pick just one as it depends mostly on your personal preferences.
However, there is one that caught our attention. Ninja Prediction makes it possible to bet on absolutely anything you please against anyone you want, no bookmaker involved. And when they say anything, they mean it: sports, politics, science, or literally any other aspect of modern life that your heart desires could become a source of gambling. Make a good guess whether it’s gonna rain at the weekend and get paid for it! Since you’re the one who creates the market, you get to set all the conditions yourself. And all of that comes with transparency and anonymity.
Decentraland is an Ethereum-based virtual reality platform where users can create, experience, and monetize applications. Users can use a VR headset or simply explore Decentraland via browser for a 3D, interactive experience. On the platform, you can buy land (in the form of a non-fungible asset) and then build whatever you want there. Decentraland has its own currency — ERC-20 token — that can be used to purchase goods or services within the platform. A public, virtual world ruled by open standards — isn’t it what blockchain is all about? Although the whole idea looks promising, we do understand that such an ambitious project needs time and lots of effort in order to succeed.
Lumi loves collectibles! CryptoKitties and Blockchain cuties have melted everyone’s hearts, but we’re not talking about blockchain games today. If you’re looking for a perfect place to trade your collectibles, check out Auctionity, the world’s largest auction house for non-fungible tokens.
As an alternative to Auctionity, you can give OpenSea a try. It is considered to be the first and largest peer-to-peer marketplace for ERC-721 tokens, among which are gaming items, digital art, etc. They have over a million items in more than 50 categories presented on the platform. A large variety of choice and reasonable prices are the key elements of this auction.
0X protocol is on a mission to create a tokenized world. They want to establish an open and globally accessible financial system and create a new world where all forms of value are tokenized on public blockchains. The uses for this are limitless, including gaming, collectibles, prediction markets, decentralized loans, and stable tokens. Their ZRX token was the first ERC-20 token listed on Coinbase and that’s actually pretty impressive.
Another app worth checking out is Fomo3D. Although it’s a game, it is quite an unusual one. They call themselves “a psychological social experiment in greed.” In August they paid USD 3 million worth of ETH to one lucky player. Rules go like this: a player purchases as many “keys” as he pleases but the time for that is limited. Every time he makes a purchase, the time adds up as well. When time runs out the last person to buy a key, hits the jackpot. The reward that the players get is proportional to the number of keys he bought. It is also possible to get a passive income from players who purchased keys after you. Or you can gamble for a jackpot. The game raised a lot of questions, was called a scam and the most awesome thing that happened to Ethereum. But after all, controversy attracts attention so Fomo3D turned out to be a hit.
Despite the fact that the vast majority of dapps are built on the Ethereum platform, EOS and NEO are catching up. EOS-powered dapps are gaining more and more popularity. They are slightly different from Ethereum ones (from the developers’ point of view) because there are no per transaction fees involved.
While doing our research, we’ve come across one curious EOS dapp that deserves to be mentioned, although it is still in beta. Karma is a social network that has been created to inspire people to do good. Users are encouraged to help mankind and get karma in exchange. The process goes like this: the user makes a beneficial interaction in the real world, shares this experience on the network and gets credits from other users. That might sound a bit naive and resemble a kinder version of Reddit, but it’s really refreshing to see projects like that. At the end of the day, it’s not always about money or entertainment.
The Lumi team closely follows the developments of the industry and searches for new solutions. For example, Lumi SDK can be integrated into any dapp whether its a blockchain game, decentralized auction or a marketplace. An integrated wallet is compatible with ERC-721 (non-fungible) tokens and executes ETH transactions.
Tell Us What You Think
Let us know, what other dapps you’re using and think should be mentioned in the Lumi blog and we will include them in our next review! Suggest and discuss your ideas on our Telegram public chat. And here are our Twitter, Facebook, and Reddit accounts for those of you who want to have it all!