Season 5 Beginner Course // Decentralized Applications (dApps).// Steemit Crypto Academy S5 - Homework Post for Task 8 by @ oshimadu
Hello steemians, today I share with you my participation in the 8th work, well described by Professor @wahyunahrul, on the topic decentralized applications.This topic also plays an important role in digital cryptocurrency investing.
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Entire question
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).
01 What are the dApps?
DApps are decentralized applications that are based on blockchain technology. Users will be able to interact through them without the intervention of government entities or central entities that want to manage the service. These applications came to replace the centralized system, that is, they do not require the participation of third parties. Users can perform peer to peer transactions. These applications are totally reliable due to the transparency they offer us, since all the data can be readable for each user.
Security is what users look for the most, and it is something that they can achieve through decentralized applications. This is due to the fact that all the data is distributed in different nodes of the blockchain, that is to say, that the probabilities of receiving computer attacks are very minimal. Each user is more comfortable knowing that all their transactions and funds are safe.
Something super attractive in this type of application is that users can have the opportunity to vote on decisions on how to run and govern something specific within the application. There are many decentralized applications that operate on the Ethereum blockchain, as this blockchain has a platform where developers have the opportunity to create decentralized applications.
Let us remember that decentralized applications have their origin in blockchain, which is the technology that protects cryptocurrencies.
02 Explain the working system of dApps?
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These applications work under blockchain technology, and use this technology as a communication channel. Each user becomes a node within the entire network and users must ensure its proper functioning. In the chain of blocks there is a record of all the operations carried out which go through smart contracts. These contracts control these applications. Every time an operation is carried out, the information will be updated in each node and a copy of everything will be saved within the application.
The way in which DApps work, they guarantee that you can have many backup copies, and this is because all the information is distributed in all the nodes of the network. This, seen from another point of view, can become a disadvantage, since the application must store large amounts of data and this can be expensive.
At the time of making transactions, each node participates in the verification. Once each transaction is verified, the information will be stored in the blockchain network and cannot be modified. These applications are very secure and prevent computer attacks. The only way that nodes can be shut down is if an attack occurs, otherwise the DApps will always be up and running. The transaction fees are very low in these applications, which makes them very attractive applications.
The privacy and security that DApps give us is very good. These applications based on blockchain technology represent a breakthrough within the ecosystem.
03 What are the differences between dApps and other applications?
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There are notable differences between these types of applications.
Decentralized applications offer us security, and this because they are based on blockchain technology. No one could have access to our account unless we lose our passwords. The opposite is the case with conventional applications, because these applications are controlled by centralized entities, which makes it clear to us that third parties have access to personal information.
Decentralized applications compared to centralized ones are immutable, that is, it is not possible to make modifications to the information already saved, while the other applications can manipulate personal information.
DApps can be fast since multiple transactions can be carried out in one second.
DApps offer us control, since only I can access my account. In centralized applications the main authorities have access to account and data.
They offer us transparency, and this is possible since all the information stored on the network can be visible to everyone, and in the other applications the data is totally hidden.
We can keep anonymity with DApps since no transaction can be traced like in common apps.
Dapps are open source applications while traditional ones are not.
04 Explain the advantages and disadvantages of dApps?
Advantages
The service is always active because it does not have a central server, but all network nodes are active.
All transactions are direct from user to user, with no third parties to interfere.
These applications are more secure, because they are based on blockchain networks, and no one can have access to personal data.
Transaction fees are low at Dapps.
Each user has full control of their account without any intermediary.
Disadvantages
The necessary energy consumption is high therefore it becomes an expensive system.
There is no way to track wrong transactions, so you have to be extremely careful.
It has a high degree of difficulty to be able to develop the potential of the hardware used, and this is due to the fact that programming languages are very complex.
For the application to work properly it requires users to update constantly.
- As there is no intermediary, or authority, you cannot recover information that we may lose such as passwords, or information about transactions made to the wrong addresses, which could cause requests.
05 How can dApps developers promote their apps?
There are different ways in which Dapps developers can promote their applications.
• Social networks: This form is very effective since social networks have become a very influential part of the life of each user. Through these platforms, advertisements are launched that show detailed information about their characteristics, functions and benefits, so that people are attracted.
• Another very effective way to promote Dapps is through Airdrop events, where each person who participates is awarded free tokens as a form of promotion. Airdrops are a very attractive way to promote these apps and they certainly get people's attention.
• Another type of event where this type of application can also be promoted is at ICOs, IEOs, and IDOs. They also promote themselves by organizing parties to launch the application.
• There are also pages on the internet where you can promote this type of application, and among them is dappradar.com. On this page we can find different types of decentralized applications and we can have access to their characteristics and thus be able to choose the one we like best.
06 What should we pay attention to when using dApps?
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The most important things we should pay attention to are the operation and characteristics of decentralized applications. Currently there are many scams that is why we must pay attention to every detail, since these will lead us to choose well the applications that we will use.
Another point to evaluate is security and what type of consensus mechanisms they use since these will give us better benefits. We can also take into account that the transaction rates are low, have good operating speed.
In order to make good decisions about which applications to choose, we must take the time to study different aspects that will help us have a clearer picture. These factors can be crypto and even study the market and its trends.
We must be careful with applications that use referral systems as a registration method. These apps can be risky. Let's also be careful with apps that claim to be in currency markets.
07 How do we find the information of a DApp that we want to know?
We can follow the following steps to search and find decentralized applications.
Step - 1
We enter the following link https://dappradar.com
screenshot by dappradar
Step - 2
We click on the "Ranking" option located on the top of right side of the page.
screenshot by dappradar
Step - 3
We will can get different options, and in this particular case we click on Steem.
screenshot by dappradar
Step - 4
We will get various decentralized applications based on Steam blockchain. This time, I clicked on Steemit.
screenshot by dappradar
Step - 5
We can visually see the different features of the application we choose(steemit).
screenshot by dappradar
Conclusion
DApps is a very broad subject in which we can immerse ourselves in endless information, applications, advantages, disadvantages, risks and profits. We must always be clear that for all benefits there must always be a sacrifice, this is present in the field of decentralization and blockchain, since the benefits obtained come from the sacrifice offered. In addition to the endless number of applications available like DApps, there are also endless benefits that are worth it. Already having clear all the subject presented here, I hope it will serve as a basis for our development in this new area.
Thanks.