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Top 6 Types of dApps To Keep an eye on in 2020

Jan 1, 2020 | dApps

Decentralized applications unlock new potential business models. Several key categories for dApps can be identified at this time. All of these segments will continue to generate tremendous buzz in the decade ahead. 

#1 Games

Blockchain-based games are trying to make their mark on the video game industry. Most of these projects focus on giving players full control over their in-game assets. Items can be sold, bought, and traded with other players. Some of the DApps in the gaming sector confirm there is tremendous potential for this segment. 

#2 Decentralized Exchanges

Most cryptocurrency users rely on centralized trading platforms. Those companies often control user funds and determine which currencies can be traded. Through DApps, decentralized exchanges have grown in popularity. Users remain in control of their funds, and orders are executed directly over the blockchain. 

#3 Collectibles

Over the past few years, blockchain collectibles have become very popular. Digital collectible items fully owned by the user can be traded and sold accordingly. Because of their collectible nature, these assets have been subjected to unique business models. Ranging from breedable virtual cats to officially licensed “merchandise”, the opportunities are virtually unlimited.

#4 Gambling

Cryptocurrency enthusiasts have always shown affection for gambling DApps.  Placing small or big bets on a random outcome can be a fun and lucrative experience. Coding gambling applications on the blockchain is not overly complex either. An added benefit is how the outcome of the bets can be publicly verified. This removes any “hidden” house edge from the outcome. 

#5 DeFi

Blockchain technology can transform the financial industry. DApps focusing their attention on DeFi, or decentralized finance, are getting a lot of attention. Through these offerings, cryptocurrency lending has become a lot more accessible on a global scale. Those willing to extend loans can often expect relatively high returns.

#6 High-Risk and Ponzis

Utilizing smart contracts allows for interesting business models. It is not entirely surprising to see how this technology leads to high-risk investment programs. These DApps are very risky, as a lot of people will lose money in the end. At the same time, there is some good money to be made for those willing to take major risks. 

Images courtesy of their respective sources.

Fintoism is not providing financial or investment advice. All content published on this platform is for entertainment and educational purposes only.

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<a href="https://fintoism.com/author/oglock/" target="_self">JP Buntinx</a>

JP Buntinx

JP Buntinx is passionate about cryptocurrencies, fintech, blockchain, and finance. He currently resides in Belgium.

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