Ethereum is recognized as one of the most prominent blockchains in the world of cryptocurrencies, and since its launch, thousands of projects have been developed on this platform. By offering features such as smart contracts and the ability to build decentralized applications (dApps), this platform has enabled developers to easily create innovative projects in various fields. In this article, we will review the prominent projects built on Ethereum and analyze their role in shaping the future of blockchain.
1. Defay and transformation in financial systems
DeFi, or decentralized finance, is one of the most important applications of Ethereum. DeFi allows users to access financial services without the need for traditional intermediaries such as banks. Projects like Aave and Compound Prominent examples of this type of project are those that allow users to borrow and lend using digital assets.
Project MakerDAO Another prominent DeFi project is the one that created the DAI stablecoin. DAI has become one of the most important financial instruments in the DeFi ecosystem due to its peg to the US dollar and maintaining a constant value. This stablecoin allows users to use financial services without worrying about price fluctuations.
2. Second layer projects and scalability improvement
As the use of Ethereum currency grows, scalability issues have become one of the main challenges of this platform. To solve this problem, second layer projects like Polygon and Optimism have been developed These projects use technologies such as zk-Rollups and Optimistic RollupsThey increase the speed of transactions and reduce costs.
In 2024, as these projects improve and expand, the use of Ethereum is expected to increase even more. For example, project Polygon By providing an extended chain that is specifically designed for specific applications, it allows users to enjoy greater scalability.
3. The revolution of NFTs and digital ownership
Non-fungible tokens (NFTs) are one of the most important developments in the blockchain world, enabling digital ownership. Projects like OpenSea and Rare Built on top of Ethereum, they allow users to sell their digital creations as NFTs. These tokens allow artists and content creators to monetize their works while maintaining their ownership and credibility.
One of the recent innovations in this field, the project InfiNFT which focuses on the permanent storage of NFTs information on the blockchain. Using a combination of Ethereum and technologies such as Arweave and IPFS, the project ensures that information related to NFTs will always be available and secure.
4. Prediction and betting markets
Prediction markets are another attractive application of the Ethereum blockchain. Projects like Augur and Omen They allow the creation of prediction markets where users can bet on different outcomes. These projects guarantee transparency and security in predictions by using smart contracts and oracles.
Prediction markets can be used in many contexts including elections, sporting events and even weather events. Considering that these markets are decentralized, users can participate in them with more confidence. Also, in this area, comparing digital currency exchanges is also very important, because users have to access these markets through different exchanges, and choosing the best exchange can have a great impact on user experience and transaction costs.
