We are living in a world where technology is becoming more and more disruptive every day. One of the biggest new innovations to currently take the entire world by storm is blockchain and it offers a lot of uses that people want. Decentralization is a big part of this new digital world, and it is what cryptocurrencies run on as well. However, the usefulness of decentralization goes beyond crypto itself as people are finding other uses for them as well, especially in the form of DApps.
What are DApps?
Short for decentralized apps, this is a system where apps run on the computing power of thousands of potential users, and it can only run when all the conditions attached to it are met. These are usually related to data security and privacy, but other conditions can also be baked in. You can find thousands of apps like that these days and we are sharing a list of the top 10 DApps that you can find right now.
Chainlink is a middleware used for secure data input system that users can apply to check for the validity of information that they are receiving from external feeds. It basically provides smart contracts for all kinds of sources including payments, APIs, and data feeds. The app does the job so well that even Google is testing it on their platform called BigQuery which is a data warehouse service. To be more specific, this blockchain app action as an oracle on the blockchain, securing the connection between smart contracts. There are a ton of applications for this software, especially in financial services like Visa payments or PayPal.
A lot of people already know what Brave is, a web browser with a high focus on user privacy and control against online advertising. The browser is developed by best application developers who wanted to introduce a digital advertising and services platform that will be run using blockchain technology. The advertising model of this blockchain app will be incorporated into the app and will allow a much more private and user-friendly advertising experience that will also be aligned with GDPR requirements. The platform will help reduce mediation between companies and powerful entities like Facebook and Google, while also rewarding users with “Basic Attention Tokens” that they can use as a cryptocurrency. All in all, the Brave browser follows all the quality standards of software developers in miami and Houston – two biggest tech hubs of the States.
3. EOS Dynasty
Not all Dapps need to be corporate functional in nature, and this game proves that quite well. it is a PvP RPG game that runs entirely on blockchain. The game provides users with three heroes which they can create on their own and then take on challenges of different kinds to earn stuff like materials, equipment, and even riding horses that they can use in the game. The game app development company that built EOS Dynasty also rewards players with Three Kingdom Tokens (TKTs) which can be used as cryptocurrency in the game. Tokens come through accomplishments and there are a ton of those for each player to find and attain. It is a great way to earn money while playing.
Getting credit is made a lot easier with decentralized apps and MakerDAO is exactly such an app for users to borrow from. This platform is based on the Ethereum blockchain and is backed by the Dai stablecoin which is directly linked to the US Dollar in terms of value. Users can borrow by opening a Collateralized Debt Positions (CDP), put some of their ETH coins as a collateral, and then get the money they need with up to 66% of their collateral’s value being available to them.
This is a blockchain app focused entirely on improving supplier management systems for businesses everywhere. The app provides a platform where validation of critical information is done at a much faster speed than what it would be using traditional tools like documents, emails, spreadsheets, etc. The system replaces a dated system with one that provides a much more efficient and faster solution. The crypto app has launched a Know Your Supplier system in partnership with IBM which allows buyers to access verified information about their suppliers, thereby creating a much smoother supply chain.
There is a huge shortage of transparent and traceable systems when it comes to charities. Not only does it provide loopholes for people looking to use them, but it also makes donations less secure. TRACEDonate is a blockchain app that takes this problem and solves it in a simple manner by providing a direct connection between donors, charities, and the beneficiaries. The system is created to provide peace of mind to worried donors by providing a trustless and highly transparent system. With donations present in digital wallets every step of the way, donors can track them and find out exactly where their funds went.
Circulor is another effective and popular crypto app that allows users to make their entire supply chain much more transparent and traceable. It primarily focuses on the electronics industry and allows buyers to find out everything about the materials and equipment that they bought, right from the quality to the sourcing of the said materials and equipment. These are only the basic features of this blockchain app though and you can find a lot of other useful features as well that make it so popular among companies that are using such decentralized apps right now.
Cipher is one of the biggest Dapps currently being used by governments to aid them in a multitude of areas including reconciliation and settlements, procurement payments management, loyalty points tokenization, and document exchange services. The purpose of this crypto app is to create digital transformation in government entities and provide better financial regulation and supervision for the same. The Dubai government is heavily invested into these systems and doing so has created a massive difference for them already. There are not many decentralized apps of this nature, and it is certainly something that should be more commonly adapted.
Pretty much all Dapps are about data integrity and security and this app provides businesses with verification regarding their customers. KYC is short for Know Your Customer and while there are traditional systems performing this service, they are much slower than the blockchain based solution that KYC-Chain provides. KYC regulations have stringent requirements and things like prohibited activities and criminal records can easily be tracked through it.
Short for Distributed Ledger Technologies Singapore, this is a crypto app that provides a range of services including counterfeit management and a supply chain module. The app makes it a lot easier for companies to monitor their supply chain, track flow of products end-to-end, and make more room for cash expense by unlocking inventory. It has modules that can not only track counterfeiting but also provide secure transaction route with guarantees and contingencies for managing risk.
All the decentralized apps discussed here are creating a positive environment for their users through different means. What they all have in common is their ability to perform incredibly well as compared to traditional solutions while also being less resource heavy and more efficient. We are seeing new apps being created and introduced every day and there is already competition building among DApps as well. Early adopters, no doubt have received the most competitive advantage – but there is still so much more space for apps on newer concepts.
Read Also: All about Ethereum Classic Cryptocurrency
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