My task 8 assignment post was reviewed and graded but wasn't curated so this is a repost for it to be curated.
The evidences that I carried out this task is attached below.
Task Review and grading by @dilchamo
Task Link
REPOST
Decentralized Applications (Dapps)-steemit Crypto Academy Season 5 -Homework Post For Task 8 By @niglys8 
INTRODUCTION
Greetings! Members of Steemit Crypto Academy Community. I am here again to submit my homework post for the Task 8 introductory course anchored by our amiable steemit Crypto Academy professor @wahyunahrul. I will be answering the second (2nd) question for Task 8 on the topic "Decentralized Applications" (DApps)
(2) LOOK FOR 2 SIMILAR DAPPS AND DO A DETAILED FUNDAMENTAL ANALYSIS AND COMPARE THE TWO DAPPS AND EXPLAIN THE RESULTS OF YOUR ANALYSIS. (SCREENSHOTS REQUIRED).
In the context of this task, I will be giving a detailed analysis of two similar decentralized applications built on the binance smart chain network (pancakeswap, bakeryswap) But first let us briefly discuss about DApp.
What are DApps?
No doubts decentralized applications have come to stay where developers can build smart contract. DApps can also be called digital applications which are suitable on the blockchain network and since privacy is the goal of every individual, people as well love lack of censorship and enjoy the flexibility of their work. Everything was basically centralized before the invention of the blockchain technology Applications that we use on our mobile phones such as Facebook, Twitter etc have a central unit which controls every information and how to use the information. But with the invention of the blockchain technology, applications that are not controlled by a central unit were developed.
DApps known as Decentralized Applications can be defined as a peer-to-peer computerized application that runs on a decentralized computing system. Decentralized Applications allows everyone to participate in the running of the application without being controlled by a central unit or authority.
FUNDAMENTAL ANALYSIS OF PANCAKESWAP AND BAKERYSWAP
We will go ahead now to give a detailed fundamental analysis and comparison of the two similar DApps stated above.
- Using [dapprader.com(https://dappradar.com/)
we will be looking into pancakeswap and bakeryswap. - First I'll launch the web dapprader.com and i'll choose BSC to give a list of all binance smartchain decentralized applications.
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Pancakeswap is the first decentralized application as seen on the screenshot below.
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PANCAKESWAP
This is one of the largest decentralized exchanges among all the exchanges as at the time of this homework research. Currently, it is the largest decentralized exchange in the BSC network. Pancakeswap was launched September 20, 2020. It is an automated market maker that allows fast and cheap swapping of tokens in the binance smart chain network. It is currently used for farming BEP-20 tokens and also for swapping BSC tokens.
Pancakeswap Team
Since it is a decentralized application, the team remains anonymous which is one of the risks involved in trading in decentralized finance.
Features Of Pancake Swap
- Trading
- Farming
- Staking
- Lottery
- NFTs (Non-fungible tokens)
- IFOs ( Initial farm offerings)
Cake Token
Pancakeswap uses a native cryptocurrency called "CAKE" The cake token has an infinite supply and a burning mechanism which happens every week to help control inflation. According to coingecko.com the current price of cake as at the time of this research is $12.24, it has a market cap of $3,201,237,726 and a total value locked (TVL) $5, 604, 540, 009, it has a Market cap/TVL ratio 0.57 Pancake swap is ranked No.56 and it has a current circulating supply of 261, 392, 999.
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According to dapprader.com total value locked for pancakeswap is 6.58 billion. And market cap of 7.17 billion. Information regarding the contract address and others can be found on the screenshot below
Market
The most active market for pancakeswap is bakeryswap V2
Different centralized exchanges trade pancakeswap token, aside from pancakeswap DEX, cake can be traded on: 1. Binance
- MEXC global
- HitBTC
- Gate.io
- Hotbit etc
Overview Of The Pancakeswap DEX
- Using the trust wallet app we will launch the pancakeswap DEX
- On the dapp section of the trust wallet app, pancakeswap is among the popular DEX seen. - And it will take you to the next page as seen in the screenshot below
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- The screenshot below shows a view of pancakeswap using dapprader.com
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BAKERYSWAP
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This is the first automated market maker and NFT platform on BSC network.
Features Of Bakeryswap
- Staking
- Farming
- NFTs ( Non-fungible tokens)
Bakeryswap Team
There are no none teams for bakeryswap decentralized application.
Bake Token
It has a native token called "BAKE" which is used for governance in the platform. According to coingecko.com the current price of bake as at the time of this research is $1.15 and a market cap of $221,119,488 with a TVL $49, 498, 430. Market cap/TVL ratio 4.48. it has a total and maximum supply of 277, 237, 400 and a circulating supply of 192, 465, 613.
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Information regarding the contract address and others can be found on the screenshot below.
Market
Bakeryswap can be traded on different centralized exchanges such as:
- Binance
- MEXC global
- HitBTC
- Gate.io
- Hotbit
- Kucoin etc
Overview Of The Bakeryswap DEX
There are two ways you can get the overview.
- Using the dapprader.com click on open dapp to explore the overview.
Below is the overview on dapprader.com showing
- Token name
- Price
- Number of users
- Transactions
- Number and balance
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OR
- Using the trust wallet app, click on dapps, paste the website for bakeryswap bakeryswap.org to explore.
- At the upper right, switch to smart chain to connect your wallet.
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COMPARISON OF THE TWO DAPPS
The Comparison of the two dapps is seen on the table below.
| S/N | Parameter Of Comparison | Pancakeswap | Bakeryswap | |||
|---|---|---|---|---|---|---|
| 1 | Token | Cake | Bake | |||
| 2 | Integration | Astro tools and math wallet | Binance smartchain | |||
| 3 | Market cap | $3,201,237,726 | $221,119,488 4 | TVL | $5, 604, 540, 009 | $49,498,430 |
| 5 | Circulating supply | 261,392,999 | 192,465,613 | |||
| 6 | Total supply | Infinity | 277,237,400 | |||
| 7 | Market cap/TVL ratio | 0.57 | 4.48 8 | Price | $12.24 | $1.15 |
The results of my analysis are as follows; we can see that pancakeswap and bakeryswap are trading DApps with their unique ways of trading using different tokens. The market cap differences is as a result of the volume of the total demand and supply of both tokens while the price difference is as a result of the ratio between the market cap and circulating supply.
CONCLUSION
In conclusion, decentralized applications are becoming self sustaining in allowing investors and stakeholders to invest in dapp development. In the nearest future dapps would be highly preferred over centralized applications. Banks, fintech etc are already adopting decentralized applications for their smooth operations, permission less, trust less and self sustaining system development. Much appreciation to the blockchain technology and advancement of decentralized applications.
Thanks for reading
Warm regards❤
@niglys8