Decentralized Applications (dApps)||Steemit Crypto Academy Season 5 - Homework Post for Task 8 || for professor @wahyunahrul
QUESTIONS
1÷a》 What are dApps?
2÷a》Explain the working system of dApps?
3÷a》Explain the differences between dApps and other applications?
4÷a》Explain the advantages and disadvantages of dApps?
5÷a》How can dApps developers promote their apps?
6÷a》What should we pay attention to when using dApps?
7÷a》How do we find the information of a DApp that we want to know? Provide the steps (Screenshot required).
1÷a》 What are dApps?
Decentralized Applications do operates on a peer-to-peer systems in which every user in the systems seems to be in control of their transactions, account, assets, lacking the manipulate of a third party, This Decentralized Applications actually process in an open source interface,(BLOCKCHAIN) nothing is hidden, with this every users can clearly view all coded records, in its system,
Actually there are many Decentralized Applications which process on many different blockchains. Let us use these two as an example, the Tron blockchain [TRX] and Ethereum [ETH] blockchain.
| Tron Dapps | Ethereum Dapps |
|---|---|
| SunSwap | UniSwap |
| JustSwap | Sushi |
| USWAP | 1 Inch Network |
| JustLend | OpenSea |
2÷a》Explain the working system of dApps?
Honestly, it's very easy to understand how the dapps system works, this decentralised application is like a person-to-person transaction, that's P2P peer to peer.
However, this implies when a transaction is been processed. it is approved by witnesses qualified or selected nodes, like is said,
this validators are those users that satisfy the necessities of the given consensus system of its blockchain where this dapps runs, Onetime the transaction is been validated it accomplishes instantly.
The system named smart contract, this smart contract is like a trustless and permissionless procedures which makes the working doctrine of dApps to be easy or simple, fast, secure and decentralized.
Example: let's say I wish to swap [ETH ] Ethereum to [1INCH], for me the do that I have to make use of this named UniSwap to execute the given transaction, by smart contract, this procedure doesn't concern the central server/authority, instead it follows via
the smart contract and execute immediately.
3÷a》Explain the differences between apps and other applications?
We all know that Decentralization Applications are different from distinct kinds of applications, here are the differences.👇👇.
They are Decentralized:
dApps prevail decentralized particularly that there is no authority or an individual who controls it. for this fact it can't be manipulated by anyone, instead, transactions are [P2P] peer-to-peer in individuality and practice.
While different applications are being controlled or managed by particular groups or individuals that control and regulate their activities.
Top-notch Security:
dApps possess a tough level of security due to the fact that transactions stand recorded eternally on a digital record named the blockchain. This brings in an impossible for anyone to manipulate or delete the records. dapps are highly safeguarded.
While different applications keeps their transactions recorded in a list or file that is limited to the user of a given application, this makes it possible for the central authority to erase,delete it and can also manipulate this records.
User Privacy:
In decentralized applications, the details and private records of the user aren't always in control of any authority. However, The user possesses total control of his| her private keys.
While in many different applications, the user's information and private keys are held and saved by the owners of that applications. This tells that other applications doesn't provide user privacy.
4÷a》Explain the advantages and disadvantages of dApps?
Advantages of dApps***
Decentralized
dApps are truly decentralized extremely that everyone in its system can view the transaction of its file, every user process the access to their transactions, as I said earlier it owns an open-source interface]
and no authority can manipulate its systems.
High Security
In this Decentralized application system, the keys or details of a user are not authorized by any central server, for this reason, its system stands strong and secure.
Fast Transactions
dApps transactions seem to be very fast. It may occur within a second. and the reason is that its transaction is a peer-to-peer pattern and so dapps doesn't need the permission or authority of the central authority that may slow down the transaction.
Peer-to-Peer Transaction
Most transactions on dapps includes a peer- to-peer transaction.not like the centralized network, where all the transaction needs to be approved by a the central server. Decentralized Applications enables user to transact immediately with each other.
Disadvantages of dApps
**
Since the central server doesn't exist in the decentralized application.There is much fraudulent and scans in its system, because, users can create many different accounts, without any authority questioning him or them.
Occasionally it is impossible to carry out some some changes or to fix difficulties on dApps due to the fact that it needs the authorization of these nodes.
Frequently, decentralized applications are not that simple to construct, due to the fact that it implicates a bunch of protocols/ techniques to succeed alongside the consensus mechanism.
5÷a》How can dApps developers promote their apps?
Supply of Token
the nicest manner to expand a dApp is for these creators/developers to own a token that people might buy from ICO after which they can sell when its price appreciates. This means can create awareness for their dApp and give rise to more users to flow in.
Awarding Users with their native Token
For them to promote their dApp, this developer may provide a specific assignment which includes advertising or sharing their dApp to the general public. a few that any usee who fulfil the task is been awarded the given token, this award gadget will now create or draw attention for their dapp.
Entertaining thier Users with Attractive and Educating Features
Steemit for instance, as a decentralised application that has many users due to the fact that it comprises proof-of-brain, an educating program. Since there is a lot of le learned people globally, Steemit comes to be an impressive dApp that allows them to showcase their blogging skills and their writing ability.
6÷a》What should we pay attention to when using dApps?
- Of course, security is very important, and we should be very watchful when making use of dApp, it gives a user mind. like I said earlier we should examine the extent of security on that app to avoid loss of funds,
Transaction fees are another factor to consider in many decentralized applications. It is significant for any user to survey the transaction fees or charges before going to utilize a dApp.
additionally essential to understand the blockchain which the dApp operates on, to recognise the kind of coins to exchange on it. For example, it is less expensive to swap Ethereum tokens on the UniSwap exchange due to the fact that UniSwap do operates on Ethereum blockchain.
7÷a》How do we find the information of a DApp that we want to know? Provide the steps (Screenshot required).
To fetch or provide information consining some dApp that we wish to know.It is essential to inquiry for the functional dApps at that moment and then we get to click on the particular ones that we wish to to explore or analyse.
- for a start, let's visit dapps website to choose the dapp we want to analyze,
the screenshot down below listed numerous classes of dapps
And you can notice the several blockchains in which a specific Dapps is built on. now for my research let me select the Tron blockchain in order to veiw the dApps that process along side the Tron blockchain.
Here I will now choose the sunswap, which is famous alongside the Tron network.
The image below shows the full details concerning the sunswap I chosed, both rate volume, transaction, balance etc.
Now I have to click on open dApp, it direct me to the sunswap side where I connected my wallet.
CONCLUSION
Decentralizaton is the best in terms of applications due to the fact that it transactions seem to be very fast. It may occur within a second. and the reason is that its transaction is a peer-to-peer pattern and so dapps doesn't need the permission or authority of the central authority that may slow down the transaction.