dApp instead of App: Decentralized Ethereum applications are slowly picking up speed. The much-vaunted potential of smart contracts has so far been reflected in the ICO boom. Although many ICOs promise revolutionary, decentralized apps for a broad spectrum of applications, only a few have made it to market. Here you can see the five dApps which, according to dappradar.com, had the most active users in the last 24 hours.
The meaningful logo of the Bitcoin secret
POWH3d is a decentralized file-sharing service that sells itself openly as a Bitcoin secret. With 242 users in the last 24 hours, POWH3D ranks 5th on our list. The dApp works like this: You buy a P3D token via a Smart Contract and pay for it with ETH. For every token you buy, its value increases by 0.00000001 ETH. Conversely, each time a Bitcoin secret token is sold, its value drops by the same amount. Thus, there is always enough ETH in the contract to be able to pay out every participant. There is no guarantee that the same price will be paid for the sale as for the purchase.
A fixed fee of ten percent is charged for each transaction. This is then distributed evenly as ETH to all other owners of the P3D token. Hodlers of the token are thus remunerated for the risk they took when purchasing P3D.
The Pow3d website reads like a satire on the crypto community as a whole. That’s what it says there, for example:
“No need to worry, you’re just entrusting your hard-earned ETH to an algorithmic Robo accountant running on a decentralized blockchain network created by a crazy Russian and run by Chinese GPU farms that have greater power requirements than most Third World countries […]. Welcome to the world of crypto currency!”
If that doesn’t seem phishy enough yet, you should take a look at the “Shill Kit” of the developer website. One thing you can’t accuse the creators of the dApp, whose logo is a pyramid, of anyway: Dishonesty.
CryptoKitties and cryptosoft
With 481 users in the last 24 hours CryptoKittes is the fourth most used cryptosoft dApp. It was also one of the first dApps to achieve a certain degree of popularity outside the crypto scene. Here is more about it: https://www.forexaktuell.com/en/cryptosoft-scam/. The game is about individually breeding, collecting and exchanging different cartoon kittens.
Technically speaking, the CryptoKitties are ERC-721 tokens. As so-called “non-fungible” tokens, their value results from their uniqueness, which makes them collector’s items, so to speak. CryptoKitties co-founder Arthur Camara therefore assumes that the ERC-721 standard can be used in the future to tokenize real objects such as works of art or real estate.
The digital four-legged friends experienced a real hype in December last year: 1,325,883 beaten transactions were processed via the Smart Contract. Since then, the daily user numbers of the dApp have declined sharply. dAppRadar has only recorded 480 users in the last 24 hours.
The BANCOR logo
With 547 users in the last 24 hours, Bancor’s dApp is ranked third. Bancor sees itself as a market maker that enables trading in over 100 ERC-20 tokens. However, this does not bring buyers and sellers together, as is the case with traditional stock exchanges; instead, an exchange can be carried out without a counterparty. Bancor promises a stable liquidity of the system. So-called “smart tokens” play a central role, above all the company’s own BNT, with the help of which other tokens can be held in reserve.
In 2017, Bancor held an extremely successful ICO: In just three hours, 400,000 ETH were exchanged for BNT. This corresponded to a volume of 153 million US dollars. The ICO did not run off without problems, as you can read here.
2nd place – ForkDelta
ForkDelta is a decentralized exchange for trading Ether and ERC-20 tokens. The dApp emerged from a fork in the EtherDelta. Arseniy Ivanov, the initiator of the project, explained his decision to split on Reddit in January:
“The recent events at EtherDelta have caused many of us headaches. The lack of communication after the hack, the ICO […], the lack of improvement – all this shows that EtherDelta has moved away from its original idea […]”.
The dApp continues to be based on EtherDelta’s programming interface and smart contract. A new API was announced for the first quarter of this year, but has yet to be released. Also a new Sma