- Dapps, or decentralized applications, run on peer-to-peer networks such as blockchains.
- They have a number of use cases, from video games to decentralized finance (DeFi).
It’s impossible to navigate today’s crypto space without coming across decentralized applications, or. Like regular apps, dapps have a broad range of use cases: there are financial services, decentralized file storage platforms, and even games.
Unlike regular apps, decentralized apps—as the name suggests—are built atop the decentralized infrastructure of peer-to-peer networks such as blockchains.
That means no one entity or person has control of a dapp. Instead, it’s secured by an infrastructure of nodes and crypto tokens. Because of this, dapps benefit from censorship resistance—with no single controlling entity, it’s almost impossible for a government or individual to take control of the network and shut it down.
Their decentralized nature also means that they’re unlikely to suffer from downtime. In 2021, when acrash caused trading volumes on crypto exchanges to surge, many centralized exchanges went down, while decentralized exchanges (DEXs) continued to run as normal.
For the full lowdown on the beginner’s guide to dapps, read our full guide here, or feel free to peruse our list of some of our favorite dapps below. They include the most popular dapps based on volume (according to Dappradar) plus our own editorial picks.
What is Uniswap?
is an -based decentralized exchange ( ) that lets users swap their tokens. Powered by the UNI token, it’s one of the most popular platforms in the emerging decentralized finance ( ) ecosystem. Its swapping function means that it doesn’t have to rely on buyers and sellers to create liquidity. In March 2021 Uniswap launched v3, which brought with it the ability to give users granular control over their liquidity, along with multiple fee tiers.
How easy is it to use?
As with most dapps on this list, the first step in using Uniswap involves connecting your cryptocurrency wallet. This is a necessary step in all DEXs, as due to their decentralized nature, there are no on-exchange wallets — you need to use your own. Connecting your wallet is as easy as selecting your chosen wallet from a list. Supported wallets include the popular, , and the WalletConnect service; the simplest way to link your wallet is to scan the provided QR code with your wallet app of choice.
Once that’s done, the interface is beautifully simple to use compared to the confusing options, and charts found on traditional exchanges. With Uniswap, all you have to do is select which tokens in your wallet you’d like to swap, and select the token you’d like to swap them for. It’s intuitive, and easy. Thanks to the wallet connection process, you don’t have to faff around with registering an account or providing proof of identity, either.
Uniswap has a flat 0.3%…