Launched in 2015, Ethereum is a decentralised open-source blockchain network that is fuelled by its own native coin, ETH.
Through the evolution of its code, Ethereum wallet enhances the initial goal of Bitcoin by offering a blockchain capable of supporting smart contracts that can function independently, as well as the ability for decentralised application (DApp) developers to create applications on top of it.
DeFi, NFTs, GameFi, and the Metaverse are examples of independent cryptocurrency development initiatives that have arisen thanks to the blockchain’s cutting-edge architecture. Ethereum has become the second-largest cryptocurrency of your crypto wallet from ZenGo X due to the sheer variety of uses it provides.
Let us discuss about a few important projects in this post.
Uniswap, a decentralised cryptocurrency exchange built on Ethereum, uses UNI as its native governance token. On Uniswap, users can trade Ethereum tokens without relying on a third party to retain their money.
Yet another first is MakerDAO. It is the first decentralised lending protocol ever created at this point. The widely used stable coin DAI was created by MakerDAO. It is a peer-to-peer cryptocurrency lending and borrowing platform built on Ethereum.
Decentralized lending platform Aave was first introduced in 2017 as ETHlend through an ICO. Lenders can receive rewards by adding different Ethereum-based assets to liquidity pools.
- Curve finance
A DEX and automated market maker platform called Curve Finance provides a quick and easy way to exchange tokens while retaining low costs and slippage. Curve Finance was created exclusively for trading stable coins, unlike other DEXs.
The dApp of 1inch, a cryptocurrency exchange aggregator, searches DEXs to discover the lowest prices for every specific cryptocurrency. As a result, it can provide traders a variety of inexpensive entry locations and aid in avoiding problems like slippage.
- The Sandbox
Last year, The Sandbox received media attention. Sales of land in the Sandbox skyrocketed. The Sandbox can be compared to MineCraft’s metaverse counterpart.
Decentraland is not as much of a game as Sandbox. Decentraland is even more of a contender for the title of virtual real estate, even if you may purchase land in the Sandbox as well.
Chainlink is a decentralised network that safely converts information from the real world to blockchain-based smart contracts and back via oracle software. The native tokens of Chainlink are usable.
New and expanding quickly is the browser Brave. The Brave browser stands out because it gives users the option to watch advertisements. And if you decide to watch them, you will get Basic Attention Tokens in return.
Last year, the market for non-fungible tokens (NFTs) as a new asset class exploded. But since December 2017, a project called OpenSea has been under development.
- Axie Infinity
On the Ethereum blockchain, there is a play-to-earn NFT game called Axie Infinity. Players can gather NFTs of the adorable creatures known as Axies and engage them in combat.
Chromia is a blockchain platform that gives programmers the resources they need to combine relational databases with blockchain technology to build safe DApps. The Chromia ecosystem’s standard currency is called CHR, and users can use CHR to pay DApp costs.