The high rate at which people embrace blockchain technology is an indication that so many things are leaving the traditional scene. What seems to attract people more to the blockchain space is its limitless potential. First, the ability to carry out transactions without having to obtain permission from third parties is a win in itself. Democracy and transparency are also icings on the cake of technology.
Carrying out transactions on the decentralized blockchain requires certain tools and services. Some companies in the blockchain space are already leading the way, developing tools to facilitate ease of transaction on the decentralized space. Here is a list of top decentralization tools to look out for.
1. Gnosis Safe
Some crypto players on the Ethereum blockchain use single key wallets which are safeguarded with private keys. Any compromise in the key can lead to loss of access to valuable funds. The Gnosis Safe was developed as a multisig wallet to solve this kind of problem. It is a smart contract wallet based on Ethereum. It is designed to accept approval from a specific number of persons before a transaction can be authorized.
The required approvals are not from third parties but from the stakeholders involved in the transaction. For example, if a business has two stakeholders, then the Gnosis Safe wallet can be configured for demanding approval of the two stakeholders before sending a transaction. Gnosis Safe is unique in that it has the feature of allowing one to have complete control of one’s funds. This saves you from bank troubles.
The Moontography platform is one which provides a collection of decentralized tools, products and services which are useful to a great majority of the crypto community. It is aimed to lower the barriers to entry into the blockchain space. Moontography provides tools that are useful in solving the daily challenges of an average crypto user. The platform has an Atomic Swap feature which makes it possible for crypto dealers to swap tokens for their holders across multiple chains like BSC, ETH, MATIC and KCC, involving just a very simple process.
The git remote server on Moontography allows developers and software engineers to save their source codes directly on the blockchain without having to involve centralized storage keepers like Github and Gitlab. Other project owners can utilize Moontography to create staking programs to reward their community members. These rewards can be paid in any token. Moontography has six working dApps with more being developed. Learn more about them in their Telegram group.
Metatask is a cryptocurrency wallet that has a well established and popular browser extension. This tool helps users to interact with the Ethereum ecosystem through multiple decentralized applications or dApps. One interesting fact is that metatask is compatible with browsers like Brave, Chrome, Microsoft Edge and Firefox. As a result, one does not need to download multiple dApps to carry out transactions on the decentralized space. Another thing that makes Metatask stand out is its open source nature and coin purchasing mechanism.
The platform supports tokens that are compliant with ERC-20 and ERC-721 standards that are different from Ether. This is unlike some platforms which support only the native coin of the Ethereum chain (Ether). Metatask has a hierarchical deterministic setting which supports users in backing up their accounts. All the Metamask code is available online for free with available access, thereby offering scope for continuous improvement.
Zerion is one of the best tools for managing DeFi asset portfolios. It offers access to a single platform for DeFi portfolio management with a non-custodial approach.It also allows navigation on the DeFi market, liquidity pools, vaults and multiple ERC-20 tokens. Also, it presents potentials of earning interest on stablecoins alongside tracking their return on investment, among other functionalities.
Zerion has a feature which allows advanced portfolio analytics which helps users to evaluate the performance of their investments along with staked assets. Using the Zerion platform, users can easily filter out transactions on the basis of protocol, transaction type, address or asset. This is so because the platform presents the smart transaction history in user-friendly formats.
Human’s search for solutions to the problems facing them will never stop. Finding solutions to problems is the very life-blood of innovators. We will definitely see more of these projects in the coming months and years. But at the moment, you might want to pay good attention to the ones we observed in this list.
Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.