Top 10 Web3 Apps to Try Out in 2024

This article provides an overview of Web3 and ten decentralized applications (dApps) that are part of the Web3 ecosystem. Web3 is often referred to as the third version of the World Wide Web, focusing on the concept of ownership and decentralization. The ten dApps discussed include Uniswap for decentralized trading, Compound for borrowing and lending, Aave for overcollateralized loans, and 1inch for aggregating trades across various decentralized exchanges. Other dApps mentioned are Sybil for identity verification, Gnosis for prediction markets, Decentraland for virtual worlds, OpenSea for non-fungible token (NFT) marketplaces, Instadapp for automated yield farming and trading, and AAVE for earning rewards in the Aave ecosystem. The article also briefly touches on the concept of Web3 being fully decentralized and using AI, and answers some frequently asked questions about Web3 apps. Overall, the article highlights how these dApps contribute to creating a safer online space where users have ownership and control over their assets and identities.

As a seasoned analyst, I’ve observed that the landscape of technology has evolved significantly in recent times, with Web3 being one of the most intriguing developments. I notice two distinct groups within this community: those who are still exploring the fundamentals of this concept and those who have already dipped their toes into the world of Web3 applications. The former is actively seeking a deeper understanding, while the latter is on the lookout for more innovative Web3 solutions.

For the first set of users, we’ve provided numerous informative articles they can explore. In contrast, we identified a need for the second group to experiment with the most outstanding Web3 applications coming up in 2024 to enhance their Web3 journey.

Thus, let’s discover some of the best and most popular Web3 apps out there!

Top 10 Web3 Apps for 2024

1. Web3 Browsers – Brave

Currently, Brave is one of the top and extensively utilized web browsers, joining industry leaders like Chrome, Safari, and Edge. Brave features its own search engine, yet users have the freedom to opt for alternate search engines if they’re accustomed to a specific one or prefer not using Brave’s.

As a crypto investor, I’d describe it like this: Back in 2016, Brave entered the scene with an ambitious goal – to provide a seamless solution for those prioritizing privacy, speed, ad-free browsing, and above all, decentralization.

As a researcher studying digital technologies, I would describe Brave in this way: Powered by blockchain technology, I use Brave to securely claim ownership of my online data and maintain my privacy. By eliminating centralized ads through decentralization, it creates a more user-focused internet environment for me. This decentralized approach allows me to interact with the digital realm without surrendering my personal information.

One fascinating aspect of Brave is its unique feature, the Basic Attention Token (BAT), which functions as the native token. By engaging with content, users are rewarded, while publishers are compensated for their material. This setup fosters an adaptable digital landscape where users, content providers, and advertisers can transact directly, without the need for a governing body.

Through the incorporation of decentralized apps and employing smart contracts, Brave leads the way in enhancing user privacy during web interactions and contributes significantly to the ongoing Web3 revolution.

2. NFT Marketplaces – OpenSea

OpenSea is a pioneering platform for buying, selling, and trading Non-Fungible Tokens (NFTs), transforming the way digital collectibles are handled globally. Established in 2017, this decentralized marketplace harnesses blockchain technology to offer a network protocol accessible to NFT enthusiasts worldwide. Through this user-friendly dApp, you can securely trade various types of NFTs such as art, virtual world items, and collectibles, all within a trustworthy, decentralized ecosystem.

As a NFT marketplace analyst, I’d highlight that one of OpenSea’s key advantages lies in its multifaceted support for multiple blockchain networks. By doing so, it creates an expansive foundation for diverse NFT-centric undertakings. Furthermore, OpenSea places significant emphasis on fostering a vibrant and interactive community.

As a seasoned analyst, I’d put it this way: On OpenSea, I can effortlessly create, acquire, and trade Non-Fungible Tokens (NFTs), all while leveraging the power of smart contracts to ensure seamless and secure transactions.

As a researcher exploring the dynamic landscape of non-fungible tokens (NFTs), I’d describe OpenSea as a pioneering platform that prioritizes enhancing liquidity for digital assets. With OpenSea, creators and investors can effectively monetize their works or investments. Given its pivotal role in the NFT sphere, this platform is instrumental in shaping the future of Decentralized Finance (DeFi) and establishing itself as an indispensable component in the development of Web 3.0 applications and the broader decentralized web ecosystem.

3. Gaming – Axie Infinity

As a researcher studying innovative gaming platforms, I’ve come across Axie Infinity – an intriguing blend of gaming and blockchain technology. Established in 2018, this platform offers a unique Play-to-Earn ecosystem. Players can engage by collecting, breeding, and pitting against each other adorable creatures referred to as Axies. These Axies are not mere digital beings; they are Non-Fungible Tokens (NFTs), granting ownership and tradeability.

In the Axie Infinity universe, individuals can acquire digital items, including the in-game currencies AXS and SLP. They can then trade these assets on multiple crypto platforms and apply them within the game. The game’s decentralized structure empowers users to manage their own digital possessions.

Axie Infinity prioritizes community engagement and long-term growth by incorporating Decentralized Autonomous Organization (DAO) elements, enabling players to participate in decision-making processes related to the game’s management and evolution.

Through persistent dedication, Axie Infinity provides an engaging gaming experience that promotes the wider utilization of Web 3.0 technologies. By merging gaming with decentralized finance and NFT marketplaces, Axie Infinity remains a top choice among play-to-earn games in the sector.

4. DEXs – Uniswap

Launched in 2018, Uniswap is a well-known decentralized exchange (DEX) running on Ethereum that facilitates automated cryptocurrency trading via its unique attributes. Uniswap has disrupted the digital asset trading landscape by offering a more secure and streamlined experience compared to traditional exchanges like Coinbase or Kraken.

At Uniswap, a decentralized exchange, an automated market maker (AMM) system is employed. This system enables contributors to combine their funds in pools, generating income via trade commissions. Consequently, it maintains consistent liquidity and dispenses with the requirement for order books and intermediaries.

As a researcher studying Decentralized Finance (DeFi), I can’t help but be intrigued by Uniswap’s role in driving innovation within this space. By seamlessly integrating various decentralized applications (dApps) and advocating for the use of DeFi solutions, Uniswap is significantly contributing to the broader DeFI movement. Its robust infrastructure and unwavering commitment to decentralization are instrumental in shaping the future of financial systems. From a user perspective, Uniswap empowers us with a more secure, transparent, and efficient platform for trading digital assets.

5. Metaverse – Decentraland

As a crypto investor, I’d describe Decentraland in my own words as follows: Decentraland is more than just a virtual world; it’s an immersive social platform where users can interact and explore in a 3D environment. While there are similarities to social media, Decentraland goes beyond the screen with the integration of virtual, augmented, and extended reality technologies. This means you can engage with this metaverse on various devices or enhance your experience using VR or AR goggles. Essentially, Decentraland offers a unique gaming experience combined with a global social network accessible to all Web3 users.

As a researcher exploring the Decentraland metaverse, I can tell you that users have the freedom to create their digital identities and design distinctive worlds, applications, marketplaces, and events using MANA tokens. MANA is the native currency of Decentraland, functioning as an ERC-20 token. This means it was developed based on the Ethereum network’s standards.

As a researcher exploring Decentraland’s unique features, I’ve come across two distinct types of Non-Fungible Tokens (NFTs): LAND and Estate. LAND represents a 52-foot by 52-foot piece of digitally scaled real estate in the environment, while an Estate is formed when two or more adjoining plots are merged together.

In a virtual realm like Decentraland, the focus lies on creating vibrant communities and encouraging rich interactions among users. Here, individuals enjoy a sense of security and autonomy over their digital identities. Users have the freedom to plan and host various events such as concerts, casino nights, dances, or movie screenings, simply by utilizing MANA and inviting fellow community members to partake in the experience. In essence, Decentraland empowers its users to design and execute almost any event imaginable.

6. Publishing & Newsletter – Paragraph

As a researcher exploring the world of decentralized publishing, I’ve come across an intriguing platform called Paragraph. This innovative solution empowers writers and content creators by utilizing blockchain technology. Instead of relying on centralized platforms, Paragraph provides a decentralized option that guarantees data ownership and user privacy. Consequently, creators can publish their work freely without the need for intermediaries.

A paragraph can be linked to decentralized data storage platforms, ensuring secure and transparent data handling. Decentralization eliminates potential issues of a central system, including censorship and data security breaches, while fostering accountable content management.

The paragraph intends to revolutionize digital publishing through the implementation of decentralization and smart contracts, ensuring enhanced security and transparency in content distribution. Additionally, this Web3 project aspires to reshape our perspective on written content by integrating it into the Web3 ecosystem via decentralized technologies, providing content creators with a novel means of earning income.

7. Transparency – Everledger

Everledger is a decentralized application (dApp) specializing in transparent and secure management of supply chains. By utilizing distributed ledgers, Everledger guarantees the authenticity and origin story of valuable assets like diamonds, artwork, and luxury items.

Everledger stands out for its advanced infrastructure, enabling secure and transparent tracking of assets. This feature significantly strengthens the creation of an immutable digital record. Consequently, Everledger empowers users to confirm the authenticity and reliability of asset data in real-time, thereby minimizing the likelihood of fraudulent activities.

To gain a clearer understanding of how Everledger functions, consider this scenario: You decide to buy a diamond and are familiar with Everledger’s services. In order to securely store the diamond’s certificate, you register it on the platform. Simultaneously, you take additional steps to ensure the diamond by obtaining insurance.

As a crypto investor, I understand that unexpected incidents can happen at any moment. For instance, I might be the victim of a theft and unfortunately, lose my valuable diamond. However, since I took the precautionary measure to insure it, I can report the incident and receive compensation for my loss, providing me with some degree of financial relief during these trying times.

Following the incident, I attempted to sell the pilfered diamond to a jeweler. Upon examining its documentation on Everledger, they discovered that it had been reported as stolen. Consequently, my diamond was retrieved by the insurance company and returned to me, thanks to Everledger and my foresight in registering my asset with them.

8. Decentralized Blockchain Oracle – Chainlink

As a researcher studying decentralized technologies, I’d describe Chainlink as follows: I work with Chainlink, a decentralized oracle network that enables smart contracts to access real-world data and external APIs securely. By integrating off-chain information into on-chain smart contracts, we minimize the risk of relying on single points of failure.

Chainlink enables smart contracts to access external data and merge information from various sources, enhancing precision and trustworthiness. This functionality is facilitated by Chainlink’s network of nodes, dedicated to supplying offline data to on-blockchain environments.

Node operators are individuals who help ensure the smooth operation of the Chainlink platform and network. In return, they receive compensation in the form of the native token, LINK, which is specific to the Chainlink ecosystem.

As a crypto investor, I view Chainlink as the bridge connecting the real world with the blockchain universe. It ensures the seamless transfer of accurate and reliable data between them, all while maintaining a high level of security through its decentralized infrastructure.

9. Liquidity Providers – Aave

Aave is a cryptocurrency platform where users can access lending and borrowing services for digital assets. Like numerous other crypto platforms, Aave utilizes smart contracts to oversee the automated processes of lending and borrowing. With smart contracts, the terms of fund distribution, collateral management, and applicable fees are predefined and executed autonomously.

With Aave, borrowers are required to pledge more crypto value than the desired loan amount as collateral. This additional security ensures that lenders are safeguarded against potential losses resulting from loan defaulters.

Aave introduced its own cryptocurrency, named AAVE, within its system. By engaging in the project, users have the opportunity to acquire AAVE and subsequently trade it on various exchanges or keep it in the staking pool. This allows them to generate additional income while simultaneously enjoying all the advantages that Aave offers.

10. Exchange Aggregators – 1inch

1inch functions as a Decentralized Exchange (DEX) aggregator, enabling users to explore multiple DEXs in search of the most profitable trading opportunities. The platform was specifically designed with the objective of dividing orders among various DEXs to secure the optimal market price for crypto investors, making it an essential tool for those seeking the best deals.

As a crypto investor, I appreciate the convenience of having access to multiple decentralized exchanges (DEXs) through one platform. 1inch is my go-to solution because it connects me to over 100 sources across Ethereum, Binance Smart Chain, and Polygon networks. With prices and network fees fluctuating on different platforms at any given moment, 1inch helps me make informed decisions by providing data on the best available options before I commit my funds. This way, I can ensure that I’m getting the most profitable deal for my investment.

Web3, Shortly

Web3, which is also known as the “Semantic Web,” represents the third evolution of the World Wide Web. The term was introduced by Gavin Wood, a co-founder of Ethereum, in 2014. To grasp the essence of Web3, consider this analogy: Web1 functioned primarily as a read-only platform, Web2 allowed for both reading and writing, while Web3 introduces the capability of “read-write-own.”

In essence, Web3 represents a significant shift by introducing the notion of user ownership through decentralized networks. Leveraging the security, privacy, and transparency benefits of these networks, Web3 enables users to safeguard their identities, truly own their assets, and possess undeniable proof of ownership for all their belongings within the ecosystem.

FAQ

Are there any Web3 apps?

As a Web3 analyst, I can attest that the landscape is filled with a multitude of applications, each boasting unique features essential for the seamless operation of the Web3 ecosystem.

What are Web3 apps?

Decentralized applications, or dApps, are software programs constructed upon specific networks. These apps harness the power of blockchain technology, striving to enhance the overall decentralization, privacy, and scalability within their respective ecosystems.

What is the best Web3 platform to build on?

Alchemy stands out among the top Web3 development platforms due to its ease in facilitating the creation of decentralized applications, or dApps.

Does Web3 use AI?

In certain scenarios, AI technology can be harnessed by Web3 applications to enhance the user experience. This could involve tailoring content or features specifically to individual users based on their preferences or behavior patterns.

Is Web3 fully decentralized?

Yes, Web3 is a fully decentralized version of the internet.

In Conclusion

As a crypto investor and enthusiast, I’m constantly drawn to the world of decentralization. It seems that every day, we’re discovering new ways to make our digital lives more autonomous and secure. Decentralized exchanges allow us to trade with greater freedom and control. Decentralized social media platforms and messaging apps keep our communications private and censorship-resistant. And with decentralized browsers, we can surf the internet safely and anonymously. The appeal of “decentralized” is undeniable, and I for one am eager to embrace this new frontier in technology.

In this article, we’ve introduced ten Web3 applications as examples of advancements shaping a more secure online environment. These innovations enable users to safeguard their identities and assets, facilitate effortless communication, execute swift and transparent digital asset trades, and introduce a groundbreaking concept: true ownership.

2024-07-01 14:47