By James Davis
Ethereum’s decentralized app (DApp) ecosystem has been thriving over the years. As blockchain technology becomes more popular, DApps are likely to witness massive adoption. Do you wish to build a decentralized DApp on the Ethereum blockchain? Well, this guide is for you. Keep reading to learn more.
DApps Defined
DApps are applications built on blockchains. They are powered by smart contracts. Since most of them run on decentralized blockchains, they can be governed by their communities and not centralized entities. Moreover, DApps make use of cryptocurrencies, so transactions within these applications are less costly and faster than fiat transactions.
Is it Possible to Build DApp on Ethereum Without Coding Experience?
If you are a traditional web or software developer, then building a DApp using blockchain technology on Ethereum can be easy. While they are platforms that enable people to develop decentralized applications without prior coding experience, it is important to be knowledgeable in smart contracts and programming.
Which is the Best Blockchain for Building DApps?
When deciding on the blockchain to build your DApp, it is crucial to consider aspects like scalability, the cost of creating the app, interoperability, and the number of network users. While Ethereum may have its own issues, the blockchain was developed specifically to facilitate the creation of decentralized apps. That explains why it hosts the most DApps. Moreover, Ethereum’s ten years of existence in the crypto industry make it a reliable platform for building DApps.
Other leading blockchains that support DApp development include BNB Smart Chain, Cardano, Tron, Solana, Polkadot, and EOS. Each comes with its own weaknesses and strengths.
How Many DApps Does Ethereum Host?
According to data on DappRadar, a popular platform for tracking DApps, there are more than 3,000 decentralized apps running on the Ethereum blockchain as of November 2023.
Popular Ethereum-Based DApps
Here are the well-known DApps living on Ethereum:
Uniswap: This is a decentralized exchange. Since its creation, it has processed over $1 trillion in trading volume.
OpenSea: It’s the biggest NFT marketplace by trading volume. It hosts over 1.5 million NFT collections, along with 70 million individual NFTs.
MetaMask: It is by far the most used crypto wallet, allowing users to store ETH and ERC-20 tokens.
Axie Infinity: This is a popular play-to-earn game. Unlike traditional games, you can retain the ownership of assets bought within Axie Infinity.
How to Build DApp on Ethereum
When building an Ethereum decentralized app, consider its needs and purpose. After that, research the development tools made available by the Ethereum Foundation and the process of creating a DApp. Check out the “Ethereum Developer Resources” tutorial to learn more about DApp creation.
Elements to Consider When Building Ethereum-Based DApp
Development Environment
This is a blockchain-based testnet in which the DApp’s architecture is developed and tested before the project is officially launched.
Security
Given the rising cases of hacks on decentralized apps, you will need to employ proper security measures while creating your Ethereum DApp.
User Experience
Creating a user-friendly DApp improves the chances of your project being a success. To that end, ensure your DApp’s user interface is easy to navigate.
Open-Source DApp’s Code
You can consider making the code of your DApp open-source to allow collaborations.
DApp Deployment
After building and testing your DApp on a testnet and making sure it’s functioning as expected, it is time to deploy it on the Ethereum Mainnet for users to access it. However, before doing so, conduct a proper marketing campaign to build excitement around your DApp’s launch.
How Much Does it Cost to Create an Ethereum DApp?
An experienced developer who wishes to create their own DApp on Ethereum does not incur huge costs. However, an entrepreneur looking to hire a Web3 developer to build their decentralized app may spend up to $30,000. The charges depend on the complexity of the DApp.
Conclusion
While Ethereum faces several challenges, like slow transactions and high gas fees, it remains the top blockchain network for building DApps due to its high-level security and the huge number of users.