• This is a list of promising Decentralised Applications that have the potential to generate significant returns in the future.
• Many app creators opt for Ethereum due to the advantageous features it offers.

Why Ethereum as a platform

If you are not new to blockchain, you must know that most of the projects are built on the Ethereum network. There is a big reason why these projects use Ethereum to build their decentralised projects. This is because Ethereum provides a platform for all decentralised apps, and that too with maximum reach. 

Ethereum should not be confused with the Ether coin. Ether is the native coin of the Ethereum cryptocurrency. Ether is just used to fund the participants working on the Ethereum platform, whereas Ethereum itself is a platform for all the decentralised apps. 

Understand this, if one wants to build their own app, then they will need a dedicated network of computers, a community, their own blockchain, and their own coding language to run that blockchain. With the help of the Ethereum platform, all they need is a good idea and a team of developers, and Ethereum will provide them with all these facilities. That’s why most of the Dapps use Ethereum to function after knowing why most popular apps are built on Ethereum. Let’s explore the list of top Dapps built on Ethereum. 

Top Ethereum-based projects 

• Uniswap 

This is a platform that allows trading in decentralised finance. Uniswap creates liquidity that allows users to trade in the defi sphere. Although there were already many decentralised trading platforms, they faced many issues, such as a lack of liquidity and automation. But Uniswap tries to solve all these problems with a new concept of AMM. AMM means automated market maker. Since its launch, it has gone through many updates with new and improved features. Currently, we are experiencing the third version of it.

• Maker DAO

Maker is a decentralised autonomous organisation that is behind the popular stablecoin DAI, which is an Ethereum-based stablecoin. It is issued and managed by a maker organisation. This stablecoin is different from all the other stablecoins because it is not fully pegged to the US dollar to maintain stability, Whereas it is pegged by a mix of collaterals. A new DAI is minted every time a cryptocurrency is kept as collateral, and to maintain the supply, DAI is burned every time the collaterals are returned to the users.

• AAVE 

AAVE is the most popular decentralised lending platform. This platform provides users the opportunity to instantly take loans as well as deposit their cryptocurrencies. In simple terms, this is a bank for the entire decentralised ecosystem. Just as the bank provides interest on deposits, this platform also provides deposits on cryptocurrencies deposited. 

And just as a bank takes interest on loans, it also takes interest from the borrowers, but the amount of collateral it keeps is much higher than any bank. It keeps more collateral than the value of crypto taken as a loan, this is because of the high volatility of cryptocurrencies.

• Decentraland 

Metaverse is a crucial innovation in the web3 ecosystem. It aims to revolutionise how people socialise and every day-to-day activity of people with a much more immersive virtual experience. So Decentraland is a metaverse platform 

This allows users to buy land in their metaverse, create buildings on it, and have many more opportunities. It has its own token called the MANA token, which is used in decentralisation and as a currency.

Conclusion

Ethereum has become the go-to platform for creating decentralised applications, enabling innovative projects with significant potential for crypto investors. Projects like Uniswap, Maker DAO, AAVE, and decentraland are pioneering the decentralised finance and metaverse spaces, offering unique solutions and opportunities for users in the blockchain ecosystem.