Top 5 DApps On The Ethereum Network in August

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 Top 5 DApps On The Ethereum Network in August
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Highlights

  • DApps (or Decentralised Finance) are programs (or apps) that the blockchain’s users can utilises
  • One analogy is to compare a crypto platform to a iPhone, where the blockchain is the iOS and the DApps are the apps available on the iOS network
  • DApps range in content- from finance (called Decentralised Finance or DeFi) to gaming

While Ethereum is still awaiting its much needed upgrade, an increasing number of people are still adopting the outdated blockchain.

2021 has seen a Ethereum, the second-largest cryptocurrency, reducing the gap on the largest cryptocurrency, Bitcoin. A big reason for Ethereum’s rise in popularity, also the biggest difference between it and Bitcoin, is Ethereum’s ability to hold DApps.

DApps (or Decentralised Applications) are programs (or apps) which can be utilised by the blockchain’s users.

The design of the blockchain is really what separates Ethereum (and many other more recently created blockchains) to Bitcoin – the original cryptocurrency blockchain.

One analogy is to compare a crypto platform to a iPhone, where the blockchain is the iOS and the DApps are the apps available on the iOS network.

It’s indeed that key difference, which many say makes Ethereum more valuable than Bitcoin as the latter has no inherent value whereas Ethereum offers thousands of programs.

These programs range in content- from finance (called Decentralised Finance or DeFi) to gaming. In fact, most people who’ve been introduced to the world of Decentralised Applications have done so through gaming DApps.

The most popular of these games is called Axie Infinity – a game where users collect, breed and battle little digital creatures known as Axies.

There are many thousands of other DApps available on the Ethereum network alone. Other networks include the Binance Smart Chain and TRON, which offer their own apps.

Here are Ethereum’s top five DApps in August, 2020 according to DappRadar.

                   

Top 5 DApps On The Ethereum Network in August

 

  1. Uniswap

Uniswap is a decentralised finance protocol that is used to exchange cryptocurrencies. It offers open source software and building on the decentralised web.

Uniswap has had around 324,000 users in the last 30 days (ending 3 September 2021), with a trading volume of US$37.21 billion.

Image source: © Kviztln | Megapixl.com

  1. Axie Infinity

The aforementioned NFT game has become very popular in the past year, particularly in developing countries where users play Axie Infinity as their full-time job where they can make money by trading and selling Axies.

Axie Infinity has had around 304,000 users in the last 30 days (ending 3 September 2021), which a trading volume of US$1.04 billion.

  1. OpenSea

OpenSea is a peer-to-peer marketplace for NFTs, rare digital items and crypto collectibles. 

OpenSea has had around 212,000 users over the past 30 days (ending 3 September 2021), with a trading volume of US$4 billion.

Image source: © Vladsseven | Megapixl.com

  1. UniswapV3

UniswapV3 is the third updated version of the original Uniswap, which sits at number one. It’s the most powerful version yet and has cheaper fees than the other two versions.

UniswapV3 has had around 208,000 users in the past 30 days(ending 3 September 2021), with a trading volume of US$50.44 billion.

  1. SushiSwap

SushiSwap is a popular community-driven, decentralised finance (DeFi) app. Users of SushiSwap can swap, leverage, earn, lend and borrow crypto.

SushiSwap has had around 75,000 users in the past 30 days(ending 3 September 2021), with a trading volume of US$14.29 billion.  

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