Blockchain technology has been famous for its decentralized structure, which enhances collaboration among users and enriches the data of the network. To meet the demand of the organization, developers have built various decentralized applications to run on blockchain platforms, which are called DApps. Our article today will introduce and suggest the best dapps that you utilize and achieve better business performance.
If you are using Ethereum blockchain and are fining a dapp that can be truly compatible with this platform, Compound can satisfy your expectation. It is a borrowing and lending DApp, that provides users, who already have Ethereum wallets, a chance to borrow and lend cryptocurrencies within the network. Through the deals, the lenders can earn interest and put it in the liquidity pool. In fact, that interest is variable, depending on the supply and needs of specific kinds of cryptocurrencies. What makes this form attracts a lot of users? That is the high interest that we can not earn from saving accounts. Moreover, the transaction fee that users need to afford is pretty low and the risk for borrowing is quite small.
If you find a DApp which is really well-known and popular, Curve is a top option. This is considered the world’s largest DApp by the number of users. The main function of Curve is to exchange stable coins, for instance, Wrapped Bitcoin. Curve’s user interface is a careful ploy and it does not specialize in mainstream users.
Another popular dapps on Ethereum blockchain platform that you should consider is Year Finance, known as a yield aggregator. Its main function is to seek for defi projects on the platform which can bring high turnover for the users. The user can deposit any amount of cryptocurrencies in the vaults, and then they can gain benefits in form of yields. To utilise this DApp effectively and efficiently, you should have knowledge of vaults and yEarn, which is related to this decentralized app.
One of the best dapps that are long-established on the Ethereum blockchain platform is MakerDAO. It has provided a platform for users from all corners of the world to borrow stable coin DAI since 2015. If the users take advantage of a lending service via a bank, they do not need to experience processes of identity or credit checking.
Another dapp that we want to mention is Uniswap, which runs on Ethereum blockchain platforms and utilizes smart contracts. This app encourages users to add liquidity to their pools by offering discounts on trading fees. Also, Uniswap is able to keep track of the amount of users’ liquidity via LP tokens. According to many reviews, this dapps is affordable in terms of transaction and maintenance fees. Moreover, it is also trustworthy and pretty safe.
We have suggested the best dapps that you should never miss for your blockchain project. We hope you can choose one for your organization, to utilise its functions and make your system powerful. Also, if you are still having concerns, try to contact SmartOSC Blockchain to get the best advice and strategies to transform your business with blockchain.
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