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Top 5 Ethereum powered decentralized apps

Kristina Frunze | Jul. 18, 2017
Top 5 Ethereum powered decentralized apps

Ethereum Blockchain is the new technology phenomenon that is taking over the world. We look into these Top 5 Ethereum powered decentralized apps. Did you encounter any of these?

AtoZForex Ethereum is one of the best performing top cryptocurrencies in 2017 so far. The principle of Ethereum lies in Blockchain technology. Yet, Ethereum is a little different. Ethereum was initially developed for any type of decentralized application developers would want to build. Thus, every developer that wants to use smart contracts on the Ethereum blockchain platform, needs Ether.

Top 5 Ethereum powered decentralized apps

These days, Ethereum system is leading the pack of cryptocurrencies in terms of the decentralized apps based on the Blockchain. That is also exactly what we will be discussing today. Ethereum system can support decentralized smart contracts. These contracts are protocols that aid, verify or implement the negotiation or performance of a contract. In addition, all this is done in a clear and unhackable fashion.

The process of protocol’s work is powered by the Turing-complete (as in Alan Turing) programing language. The web developers now utilize this technology to create applications that function in a decentralized manner.

These apps are the new tech trend on the market, yet they are already contributing to the authority and the value of Blockchain technology. The following 5 top Ethereum powered decentralized apps are driving the Blockchain technology beyond the currency scope.

Etheria

Etheria opens our list of Top 5 Ethereum powered decentralized apps. It is very similar to Minecraft, thanks to the way this app looks and feels. As you can guess from its name, Etheria is fully based on the Ethereum Blockchain. You can buy tiles in Etheria for full Ether. Yet, as soon as you purchase it, the owners have the opportunity to send the commands back to them via the smart contract protocol.

However, unlike Minecraft, Etheria cannot be taken down. The application performs on the Blockchain. Therefore, it can not be hacked. Moreover, the person’s land can never be interfered with someone else’s or restricted.

EtherTweet

As you can derive from the name, the EtherTweet is closely working with Twitter system’s functions. Yet, this dApp is an uncensored communication platform, which is based on Blockchain. Users can interact on the Ethertweet via adding the messages to the Blockchain. These Blockchain contributions are public and they have a limit just like in Twitter – up to 160 characters.

As soon as the message on EtherTweet is out, it cannot be changes or removed. Only the publisher can do the alterations.

Raiden Network

Raiden Network is a fast-performing asset transfer for Ethereum. Initially, the app aimed to operate somewhat like the Lightning Network for Bitcoin. Yet, the Raiden Network is a little more complex.

According to the industry experts, this dApp still needs some alterations. It needs to address the issues of the scalability, reliability and the ability to perform instant transactions. Moreover, the Raiden Network needs advancement in terms of transaction costs. Some of the industry observers state that this dApp can become a successful fund transfer tool in the future.

TenX

TenX is a dApp that aims to focus on Ethereum’s status as a currency and develop it deeper. The application plans to do this by letting users use Ether pretty much everywhere. The TenX is looking into the collaboration with Visa and Mastercard. The application’s developers want to sell physical cards that would convert Ether to the fiat currency where they are swiped.

Gnosis

The last, but not the least Ethereum powered decentralized app is Gnosis. This app is a platform that aims to create a decentralized prediction market. While using Gnosis, users could vote on pretty much everything – be this weather, football score, or the election results.

Industry experts believe that this app is one of the most popular dApps available on the Ethereum Blockchain. Moreover, Gnosis has its own token – ERC20. It operates separately from Ethereum.

Think we missed something? Let us know in the comments section below.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.