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Toshendra Kumar Sharma -
May 28, 2020
If you are one of those blockchain enthusiasts who want to learn and develop Ethereum projects, you have come to the right page. This article suggests the best Ethereum project ideas to follow in the blockchain technology space.
Learning to blog
- Introduction to the Ethereum Blockchain
- Best Ethereum Project Ideas
- Conclusion
Introduction to the Ethereum Blockchain
Blockchain is considered to be the most disruptive technology today when it comes to extraordinary technological developments. It has the potential to revolutionize and change almost every industry and how it works.
It is defined as a distributed and decentralized peer-to-peer technology that provides transparency, immutability, privacy and security. Now let's talk about Ethereum, launched in 2015 by Vitalik Buterin. It is a specialized blockchain with a unique token called Ether, which is used as fuel to power the network. Ethereum Network and execute smart contracts.
Since Ethereum is a decentralized platform that allows Ethereum developers to create their own dApp, Ethereum experts are constantly increasing. Additionally, it offers free public accessibility and smart contract functionality. This is the reason why the Ethereum blockchain has become a popular choice among everyone in the industry.
Best Ethereum Project Ideas
Now that we understand the importance of Ethereum, let's take a look at the top Ethereum project ideas for beginners.
Banking solution: KYC chain
KYC-Chain is a platform built on blockchain technology and smart contract capabilities, allowing financial institutions to easily manage Know Your Customer (KYC) data. It allows users to share only necessary information through identity wallets. The platform helps you operate your business globally and make your data security a priority, as data can only be retrieved by the trusted authenticator and the users themselves.
Decentralized exchange (DEX)-Peer-to-peer commerce
It is a cryptocurrency exchange that operates in a decentralized manner without involving any central authority. DEX allows peer-to-peer trading of cryptocurrencies which reduces the risk of theft due to hacking of exchanges. This can be considered as a solution regarding the field of economics and finance. Generally, all DEXs run on the Ethereum platform as a decentralized autonomous organization or decentralized application, known as a DApp, which uses Ethereum blockchain and smart contract functionality.
ERC721 game based on Ethereum
ERC721 tokens are called non-fungible tokens (NFTs). These allow developers to tokenize ownership of any arbitrary data, thereby expanding the design space of what can be represented as a token on the blockchain. ERC-721 is a free and open standard that describes how to create non-fungible or unique tokens on the Ethereum blockchain.
If you are crazy about video games, this project is best for you. Unlike traditional games, players can choose to use their ERC721 tokens in another modification of the game, even if the creators decide to shut down the original version. One of the most well-known examples of an ERC-721 token is Crypto Kitties.
Decentralized music store – Ujo Music
Unlike other music platforms like iTunes, Spotify and others, which sit in the middle of artists and their fans, Ujo Music is a decentralized music store for artists. It is a cryptocurrency platform that allows artists to create, publish, license, and distribute music and get paid for it on the Ethereum network. This platform eradicates the concept of intermediaries between the artist and the fans, thus ensuring more power and money to the artists. Files are stored in a decentralized file storage, InterPlanetary File System (IPFS), and metadata uses Constellate, which is built on Ethereum.
Gnosis Platform – Based on Trading Forecasts
This Ethereum-based platform creates 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 into prediction markets and other applications. It has its own platform known as the Gnosis platform and allows you to build your own platform on top of it. It basically makes business forecasts.
Conclusion
With the help of the Ethereum-based project ideas mentioned above, you can choose the one that suits you best. Blockchain Council offers world-class blockchain training and certification courses that open the door to opportunities in the blockchain space. With the right certification course, you can master the concept of Ethereum Blockchain and design and develop your own dApps.
To get instant updates on Blockchain technology and learn more online blockchain certificationscheck out Blockchain Council.