is a popular choice for many investors. Thanks to smart contracts, decentralized applications (dApps
) are being built every day. But did you know that there are many cryptocurrencies built on Ethereum's popular network? We know these as ERC20 tokens. Read our top 5 Ethereum coins in this article.
1. Chainlink (LINK)
is a decentralized oracle that allows smart contracts on the blockchain to access external data. This could be price feeds or other APIs. The purpose of Chainlink? To allow smart contracts to communicate with the outside world and use this data on-chain. Chainlink uses this information to develop decentralized applications (dApps).
2. Uniswap (UNI)
is a popular decentralized exchange (DEX) built on Ethereum. Thus, in the world of DeFi, Uniswap has become essential. Trade over 100 different ERC20 tokens on Uniswap with your own software wallet. Uniswap is an Automated Market Maker where transactions take place based on smart contracts, without a central party.
Stake your favorite ERC20 tokens, add liquidity to one of several liquidity pools and help determine the future of Uniswap thanks to your UNI tokens. Uniswap has over a hundred different DeFi applications, integrations, and tools.
3. Ethereum (ETH)
Of course, Ethereum
itself cannot be left out of this list. The open-source platform was designed specifically for smart contracts and has become one of the most popular and widely used blockchain platforms. Ethereum has its own programming language called Solidity, which developers use to design smart contracts and build decentralized applications (dApps).
New protocols built on Ethereum are all interoperable with each other. These dApps can communicate and collaborate with each other. As a result, there are a lot of ERC20 tokens and dApps running on the platform, making it attractive to both users and developers. Ethereum has its own native token, Ether, the fuel of the ecosystem. Users pay transaction fees in Ether.
In September 2022, Ethereum received a major update, better known as the Ethereum Merge. The goal? To ensure lower gas fees and better transaction speed. Ethereum also switched from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Smart contracts and dApps will therefore work even better and faster on Ethereum.
4. Basic Attention Token (BAT)
Basic Attention Token
was developed to improve the Internet advertising ecosystem. BAT is designed to function as a payment for online advertisements. The project even uses its own Internet browser, called Brave. The decentralized browser is also designed to better protect the online privacy of all its users.
BAT's goal is to provide a better and more efficient way to sell ads on the Internet. Users not only get more targeted ads, they even receive BAT tokens when they see these ads. This provides a direct connection between the advertiser and the user.
5. Livepeer (LPT)
is a decentralized video platform for video streaming. They want to lower the cost of video streaming and improve access to this service. One of Livepeer's main goals is to give power and control of the video industry back to the community and users.
The peer-to-peer network provides higher transaction speeds and lower costs than traditional video platforms. Livepeer focuses on video products, but the platform is also designed to let users stream their own videos on the platform.
Livepeer uses a decentralized reward system to increase revenue for content creators. Users themselves can also earn LPT tokens when they host and share video streams.