Decentralized Applications, better known as DApps are applications that do run on a distributed system known as a blockchain network.
That is, they are created out of a decentralized system implying that they are not influenced by a single entity or corporate organization but instead, maintained by multiple users.
It features an open-source code that is programmed and intentionally made available for public use and a cryptographical safety where all data is maintained and recorded in a public blockchain network.
A very efficient peculiarity over conventional applications.
Making money through decentralized applications is now a very common thing to do now though there remains a larger percentage of individuals who still don’t have enough knowledge about these decentralized applications.
Regardless, there are lots of issues decentralization is trying to solve in this present period.
Ethereum is a very flexible platform with which you can easily create decentralized applications. This could ensure rapid deployment of DApps in sectors like finance, gaming, online stores, and social media.
Quickly, here are efficient and productive decentralized applications where you can make money now.
List of 7 Best Dapps To Make Money In 2022[AAVE, CryptoKitties & EOS]
The technological advancement that brought about a revolution in the financial sector and beyond has not just found an abode in other available industries but has also gained a lot of ground in ensuring users buy and sell all from the comfort of their homes.
Making money remotely by doing some pretty good tasks in today’s world can not also be exempted especially with the introduction of the smart contract (blockchain) network.
Regardless, the DApp has grown to a much larger extent with which lots of users now make use of its abounding opportunities to transact, make money by playing certain games or performing certain actions as well as trading digital assets.
There are always tons of DApps out there that offer some money-making features and the likes, however, here is an article you can follow through if you need a guide on making money through the use of decentralized applications.
1. Bounties Network
Bounties are currently changing the way we collaborate as they allow you to create projects while co-operating with other individuals to earn for doing a good job in any of your chosen fields.
This network seeks to empower individuals to self-organize and encourage users interested in freelancing to grassroots social actions and any other thing in between them.
It is a decentralized application that enables people to earn just by getting paid for any freelancing task completed online. You can create bounties online and easily transact in Ethereum or ERC-20 tokens.
Mind you, you don’t necessarily have to have hard skills before you can function effectively on this application. There are complex procedures you can complete like content translation and also soft ones like testing out of decentralized apps.
This however does require minimal effort while you still earn more money passively for yourself.
Also, an intriguing feature about the Bounties network is that the bounties created are not in any attached token. The network is token-agnostic as rewards can always be earned in any form of ERC-20 allowing users to accumulate different digital assets.
AAVE is a fully open-source, decentralized, and non-custodial liquidity protocol application where users can earn interest on every deposit made and lending transaction.
It is a decentralized finance (Defi) application that is designed to empower and help people earn more money when lending and depositing digital assets that can be easily borrowed by other users of the platform.
The lending of coins and tokens does allow you as a lender to profit in almost the same way conventional banking firms do. That is, by earning interest.
Though maybe very risky to do in normal day life, AAVE presents you with a fully open-source and fully decentralized application, thereby limiting the amount of risk that do come with the lending of digital assets.
A candid reason a market like AAVE was created is to increasingly improve the conventional way of lending assets. Every Defi project does aim at eliminating the centralization of the financial institution.
AAVE is part of that great plan that can successfully be used to trade by removing intermediaries and creating an avenue for people to reach out to the market with ease.
One feature quite spectacular about this platform is its smooth flow of transactions without regulations from intermediaries. Transactions involving lending of your digital assets are permissionless while you can also always earn to your wallet on the network.
Augur is an open P2P decentralized exchange that allows global prediction while allowing anyone on the platform to create a market just for anything.
It very much enables transparency and universal access to its market since its community is user inhabited and operated.
It is a DApp running on an Ethereum network that allows users to stake crypto coins to make predictions of winners of elections, price of a coin, and many more attributes acquainted with the platform while paying out users for every correct prediction.
However, anyone who creates the market will also be rewarded as well as the holders of REP tokens.
Launched in 2016, Augur seems to be the most feasible prediction market currently based on the blockchain network. Unlike other betting programs that restrict their users to what they can bet on and predict, Augur is mostly community inhabited and decentralized offering users no limits on what they can bet on.
The Axie infinity borrowed insight from Pokemon to be a blockchain trading and combat game that does make use of cutting-edge technology to reward users for their active engagement.
On this decentralized application, players build up a collection, breed, battle, raise, and as well trade NFTs-(Non-fungible tokens) based characters known as Axies.
These DApps also fall into the play-to-earn game category and have ever since been gaining rounds in well notable areas of the gaming world.
Players using the application collect in-game rewards that can later be exchanged for cash. And since technology does touch people with games, whether offline or online, this application still proves to be a very durable and sound system where you can always work passively to earn.
Speaking of earning, you get started with Axie by setting up a digital wallet, Ronin most preferably. Your next step with getting started is to get the axies character, create an account, then download and play.
Ethlance developed entirely as a decentralized platform is a job market program that promises to help users earn money by freelancing while using only crypto coins as their payments form.
Quite similar to Upwork, freelancer, Fiverr, or Guru, this platform’s main difference is its blockchain technology. I.e no central authority has control over it making it accessible for everyone.
It is a peer-to-peer platform that has credible importance over conventional centralized freelancing platforms.
On Ethlance, any form of creative skill in various fields can be easily monetized. Career jobs that range from information technology, design, content writing and creation, web development, etc.
And as opposed to other platforms, Ethlance can sustainably run efficiently with a zero percentage service fee as they will not take a cut on transactions conducted between buyers and sellers. Ethlance will ensure freelancers receive the exact amount they bided their projects for their jobs completed.
Their main mode of payment is through Ether but if you are seeking to earn money through freelancing, then Ethlance is a great place to start with.
Crowned as a leading decentralized marketplace for non-fungible tokens, this platform allows users to buy and sell these tokens on the secondary marketplace while also enabling them to create a collection of their own where they can efficiently sell on the primary marketplace.
Opensea is built on the Ethereum blockchain network and this makes you have an ethereum wallet before you can buy or sell on this platform a needed feature. A supported web3 wallet like MetaMask will still get the job done perfectly.
Smart contracts do allow users to protect their collectibles in their custody, thus offering creators work copyright. This is to ensure all assets within the marketplace are owned by Opensea users and not the platform itself.
It also supports buying NFTs making use of ETH and many other supported crypto coins. Also, Opensea has a browser page where you can easily search for tokens if you ever need one.
However, a fast one is that collectors who seek to procure varieties of these tokens can get them on Opensea. Beginners looking to learn more and experiment with digital collectibles can also earn on Opensea.
Developed by Canadian studios Dapper Labs, Cryptokitties make use of a decentralized network on ethereum that allows players to purchase, breed, collect, and sell virtual cats.
Cryptokitty however, is a non-fungible token that is unique and can only be owned by the user verified through the blockchain through its value can always appreciate or depreciate based on its market. It is not on the blockchain but is instead possessed by Axiom Zen.
This is a whole new level of making money online now through the NFT is not on the blockchain but can be listed on certain decentralized applications to earn money.
However, to join this game, users must purchase an Ether crypto coin to join the game and also spend it to perform each breeding and trading action in the game.
To get started on this gaming network, you can always buy some kitties for yourself by clicking the cat and hitting the buy now option or making use of offers which is a different manner of procuring cats.
You can always make a bid in ethereum for any cat within the game even if they are not up for sale. Once an offer is made, the owner can however decide to reject or accept it. But always know it does expire after three days. The breeding and selling off options are also two great ways to earn from this platform.
Can’t get through with Metamask sign up options, here are other wallets fully supported but the platform: (• Trustwallet • Coinbase • Portis • Fortmatic/Magic • Arkane • Authereum • Bitski • Dapper • Kaikas • Torus, etc)
More Than Just A Blockchain Network!
The Ethereum network in recent years has dominated the development of decentralized applications all for various reasons though there are other networks you can always use for designing DApps.
DApps are mostly built on decentralized networks and do make use of smart contracts to develop platforms that easily streamline and erase the essence of intermediaries and centralized powers democratizing entries into various industries.
Many DApps do look similar to many conventional applications in terms of front-end experience, but on the back-end, much functionality where the DApps connect to the blockchain in a decentralized form is obtained compared to routing of servers employed in normal applications.
However, with that being said, many DApps do make use of a native token that do fast-track activities conducted within the app. It is many times known as a utility token.
These tokens however do adhere to a set of rules that ensure Ethereum tokens can interact seamlessly without disturbance. And about the community that helps in monetization.
It is very well-built and decentralized and as a result, allows a larger involvement of the masses in exchanges thereby creating a robust and vast Ethereum community that allows for a good operating network infrastructure.
Alternative blockchain networks aside from Ethereum include the:
- EOS Blockchain: mostly used within the gaming and marketplace structure,
- NEO Blockchain: mostly used as a developer-friendly platform; and
- TRON Blockchain: which is also used to design certain DApp.
You can always make a decent amount making use of decentralized applications if you are a proficient gamer, a good trader, or seemingly interested in DApps. Then if you are, we think you should check out the listed DApps and keep an eye on the space.