Decentralized Applications (DApps) - Steemit Crypto Academy Season 4 - Homework Post for Task 8
What are dApps? Explain the working system of dApps? What are the differences between dApps and other applications? Explain the advantages and disadvantages of dApps? How can dApps developers promote their apps? What should we pay attention to when using dApps? How do we find the information of a DApp that we want to know? Provide the steps (Screenshot required).
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What are dApps?
Decentralized Applications commonly known as DApps are applications that run on a decentralized system. Conventionally, an application is a computer written program designed to perform specific function. A Decentralized Applications goes beyond just being a program that performs a specific function but also run as a decentralized system. A decentralized system is a type of system in which the governance of such system is not controlled by a central body. This is opposite to the conventional world of computer applications. Commonly known centralized Applications are created, owned and controlled by an organization and this organization reserves all right to make decisions that affect everyone connected to the network without their consent. A good example of a decentralized system is the Blockchain technology. Dapps are built to run on blockchains in order to attain its decentralization.
Explain the working system of dApps?
Decentralized Applications are built on a Blockchain and works by a Peer to peer type of network system. In this type of system information is shared across to many participants of the network and no one can independently alter an information that affects the network, not even the developer. The working of this system is quite contrary to that of the conventional applications that have their backend control on a single computer. The implications of this type of system was experienced on the 4th of October, 2021 when Facebook shutdown all application it runs on its backend for About 6hours-reference. This could have lasted longer or forever if there was no resolve and all information stored on the server would not be accessible. This is due to the fact that all information on the application is stored on a single control server which could belong to one person or organization. A decentralized Applications has no information stored to one server but rather on a decentralized blockchain that secures every information.
What are the differences between dApps and other applications?
Decentralized application differ from other applications and the can be seen in the core features of Dapps such as;
- Decentralized: DApps are Decentralized and thus are not controlled by a central body but has it governance laid on a Blockchain peer to peer network. This differentiate them from other applications that are centralized.
- Open Source: DApps are built by Smart contract which are open source. This aids its free accessibility as well as transparency to the program source code. This is not common to centralized Applications as their developers would try to autonomize the application.
- High Security: the blockchain is one most secured network as they are secured by cryptographic keys which are quite difficult to hack. The Blockchain itself is secured in keeping records as no information published on the Blockchain can be deleted.
Explain the advantages and disadvantages of dApps?
Advantages
- Censorship Resistant: The decentralized system is controlled by no single body and thus it activities is uncensored.
- Integration with the cryptocurrency: Many DApps are integrated with a cryptocurrency. They naturally use the cryptocurrency of the Blockchain on which they are built while a number of them develops an integrated token.
- Incentivisation: As being run on the Blockchain, nodes are incentivised for validating and ensuring the safety of the network.
- Immune to single point failure: the decentralized system continue to work even at the failure of one node or the other.
Disadvantages
- The concept of Decentralized Applications is still a new technology and thus have a small number of users.
- The source codes of Dapps are open source which made them vulnerable to hackers who exploit the weakness of the codes and thus breach it security.
How can dApps developers promote their apps?
DApps developers promote their apps on a suitable marketplace for exposure to earn new users, testers, concept feedback, partners, or investors. Below shows a list of marketplaces that readily receive Dapp for listing.
Using DappRadar; go to dappradar.com
Navigate down to the the footer and locate the "Useful links" and click "Submit a DApp".
ScreenshotDappRadar
Other market place as listed above have similar function providing a link for the submission Dapps.
What should we pay attention to when using dApps?
The Decentralized Applications out there are revolutionizing the industry in the sense that they offer entirely new solutions to existing problems. When using Dapps, attention should be paid to its Decentralized Consensus. Dapps have been known to function on different consensus such as Proof of work, Proof of Stake, Delegated Proof of Stake, Proof of Brain and so on. This can so well be determined by the host Blockchain network.
Scalability is also a good feature in most DApps. That is such DApps happens to execute a high number of transactions at a time.
Speed is also a desirable feature on DApps which is so needed in decentralized finance (DeFi). DApps published on the Tron system execute transactions at an exceedingly fast rate.
Other feature to pay attention is the technique or way the DApp incentivize its users, the
Fee cost for transactions, Pool return for investors.
How do we find the information of a DApp that we want to know? Provide the steps
The information desired about a Dapp can be seen using DappRadar a Decentralized Application Explorer. Here we can track, analyze and discover DApps that has been published on a Blockchain network. To do so; go to dappradar.com:
ScreenshotDappRadar
The homepage displays different categories of Dapps from NFTs, DeFi, Games, Gambling, Socials, Collectibles, Exchanges and others. The DApps can also be tracked by their host Blockchain such as Steem, Ethereum, EOS, Tron and so on.
To have a close view of a Dapp. Locate it under any of the categories or click on the host blockchain button: Here are lists of DApps that run on the steem Blockchain.
ScreenshotDappRadar
This shows an overview of each Dapp; the balance of token held, the number of its users, volume of token transact and a chart showing the activity traffic are displayed.
A more detail information can be seen by clicking the specific desired DApp. Here I wish to know about steemit a social DApp on the steem Blockchain.
ScreenshotDappRadar
By Description, Steemit is a social community where users are rewarded for sharing their voice. It is rated 39th as a DApp, 2nd in social category and 1st on the Steem Blockchain. Statistical analysis both in chart and figures across different time range.
Click Open Dapp to Explore the Application itself.
Screenshot: Steemit
Conclusion
Decentralized Applications is a technology that would take the future and it keeps pulling attention to itself day in dayout with exceptional
app development and improvement. It's impact is being felt in different sectors such as finance, investment, health, gaming, utility, socials, governance and yet more to be expected.
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@wahyunahrul
Referential Source links for this article are included for further reading and all Illustrative Images are attributed to their various sources. Thank you.
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