By Shivani Uppal on The Capital
Blockchain is considered the most disruptive technology of today when it comes to extraordinary evolution in technology. It has the potential to revolutionize to change almost every industry and its working.
It is defined as a distributed, decentralized peer-to-peer technology that offers transparency, immutability, privacy, and security at the same time. Now let’s talk about Ethereum, which was launched in 2015 by Vitalik Buterin. It is a specialized blockchain with a unique token called Ether, which is used as a fuel to power the Ethereum network and execute smart contracts.
Since Ethereum is a decentralized platform that allows Ethereum developers to build their own dApp, Ethereum experts have been on a constant rise. Moreover, it offers free public accessibility and smart contract functionality. This is the reason which Ethereum blockchain has risen as a popular choice among all industry players.
Now, as we have understood the importance of Ethereum, let’s look at the top Ethereum project ideas for beginners.
KYC-Chain is a platform built over blockchain technology and smart contracts functionalities, allowing financial institutions to easily manage to Know Your Customer (KYC) data. It allows users to share only the necessary information through identity wallets. The platform helps you operate your business globally and make the security of your data a priority as data can be retrieved only by the trusted authenticator and the users themselves.
It is a cryptocurrency exchange that operates in a decentralized way without involving any central authority. DEX allows peer-to-peer trading of cryptocurrencies that reduce the risk of theft from the hacking of exchanges. It can be seen as a solution concerning the economy and finance domain. Generally, all DEXs operate on the Ethereum platform as a decentralized autonomous organization or a decentralized application, known as DApp, which use blockchain and Ethereum smart contracts functionalities.
ERC721 tokens are referred to as Non-Fungible Tokens (NFTs). These allow developers to tokenize ownership of any arbitrary data, expanding the design space of what can be represented as a token on the blockchain. ERC-721 is a free, open standard that describes how to build non-fungible or unique tokens on the Ethereum blockchain.
If you are crazy about video games, this project best suits you. Unlike traditional games, the players can choose to use their ERC721 tokens in another game modification, even if the originators decide to shut down the original version. One of the most known examples for an ERC-721 Token is Crypto Kitties.
Unlike other music platforms like iTunes, Spotify, and others, that are sitting in the middle of artists and their fans, Ujo Music is a decentralized music store meant for artists. It is a cryptocurrency platform that lets artists create, publish, license, and distribute music and get compensated for it under the Ethereum network. This platform eradicates the concept of intermediaries between the artist and fans, ensuring more power and money for the artists. The files are stored in decentralized file storage, InterPlanetary File System (IPFS), and the metadata uses constellate, which is built on Ethereum.
This Ethereum-based platform builds new market mechanisms for open finance. It is an open framework for creating crypto assets that represent information about future events with conditional outcomes. These conditional tokens can be integrated with prediction markets and other applications. It has its own platform known as the Gnosis platform and allows one to build their own platform on top of it. It basically makes trading predictions.
With the help of the above-mentioned Ethereum-based project ideas, you can pick the one that suits the best for you. Blockchain Council offers world-class training and certification courses in the blockchain domain that open the door of opportunities in the blockchain space. With the right certification course, you can master the concept of Blockchain Ethereum and design and develop your own dApps.
To get instant updates about Blockchain Technology and to learn more about online blockchain certifications, check out Blockchain Council.