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Although recent price fluctuations of Ethereum have disappointed some, it remains one of the most 'applicable' platforms in the entire blockchain world. Here are five of the most representative application scenarios currently:
🧾 1. Decentralized Finance (DeFi)
Ethereum is the home of DeFi (Decentralized Finance), providing financial services without third parties through smart contracts, such as:
• Lending platforms: such as Aave, Compound
• Decentralized exchanges: such as Uniswap, Curve
• Stablecoin protocols: such as MakerDAO (issuing DAI)
These applications allow users to conduct lending, trading, and yield farming operations without going through banks.
🎨 2. NFT (Non-Fungible Tokens) and digital art
Ethereum is the birthplace of the NFT craze, with many well-known NFT projects based on it:
• NFT marketplaces: OpenSea, Rarible, Foundation
• Art and collectibles: CryptoPunks, Bored Ape Yacht Club
Ethereum's smart contract capabilities allow creators to track royalties, mint rare assets, and more.
🕹 3. Blockchain games (GameFi)
Many blockchain games and metaverse projects are also built on Ethereum or its scaling solutions (like Polygon):
• Notable examples: Decentraland, The Sandbox, Gods Unchained
• Features: asset on-chain, character upgrades, tradable equipment
🏛 4. DAO (Decentralized Autonomous Organization)
Ethereum supports community-governed DAO organizations, executing voting and proposals through smart contracts:
• Representative examples: Aragon, ENS DAO, Gitcoin DAO
• Operating model: members vote to determine fund allocation, project direction, etc., emphasizing autonomy and transparency
📄 5. Identity and data verification systems
An increasing number of projects are using Ethereum to establish Web3 identities, digital credentials, and verifications:
• Services like Ethereum Name Service (ENS) provide human-readable wallet addresses (e.g., alice.eth)
• Identity verification mechanisms to prevent bots, such as PoH (Proof of Humanity) and BrightID