Decentralized Applications (dApps) - Steemit Crypto Academy Season 4 - Homework Post for Task 8
HELLO EVERYONE,
Hope you all are doing well. My name is Syed Huzaifa and I intend to write about Decentralized Applications (dApps) today. This is Crypto Academy Season 4 Beginners' course - Task 8 homework post assigned by @wahyunahrul. Let's move on to the topic.
Homework Tasks-08
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 dapps? 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)
Introduction To Applications:
Application is defined as a computer program designed to perform multiple or specific tasks. In today's world, where we are crowded with new technologies, each of them requires an application to make it feasible to work. Simply put, different applications are being used to perform different operations in different domains, which make applications an important part of our lives.
The application we used today is mainly Centralized, which means the authority is held by a developer or an organization. The data we share on a centralized platform may be derived by the developer of that application affecting(Image source)the privacy of the users. Let's take an example of the most usable social-media application, Facebook. When a user shares a picture or hits alike or does any activity on a centralized application the data will be store on Facebook's system.
What are dApps:
Likewise centralized system, there is a new system introduced that work in a peer-to-peer fashion ( in a decentralized way) and application work on that system is known as Decentralized Applications. (Image source)
Decentralized applications often referred to as dApps come into operation with the implementation of blockchain technology. The idea of decentralization was first introduced in Blockchain Technology which was later implemented on applications. DApps work in a P2P manner in which all the users have the freedom to decide on their own. The transaction is being done with the involvement of any third party. This type of fashion is followed in a decentralized platform. Authority in dApps is not in one hand, yet users control it.
Working Of DApps:
DApps uses the Ethereum blockchain for storing the data application logic is solved using the smart contract.
Smart Contract is somewhat defined as a set of rules working on a chain. The rules are transparent which allows a user to view them. All the working is being on those rules.
DApps have a smart contract running on a decentralized system. DApps allow their users to work in a peer-to-peer fashion.
What are the differences between dApps and other applications?
DApps provides transparency of the system and record on a public ledge, whereas centralized does not.
DApps uses different financial representations, they reward its user with the token generated by the platform, for example, "Steemit", whereas, the centralized system operates with old financial methods.
In dApps, users can control their data and transaction, wherein another application authority is controlled single-handed.
The processing speed of a dApp is slower than an application.
Explain the advantages and disadvantages of dApps?
Advantages Of dApps:
The biggest advantage of using dApps is that it provides an open-source and permissionless platform to its users.
Chances of hacking is approximately zero in a decentralized application.
Transaction is being done in a P2P fashion, there is no third party involved.
DApps accommodate a large number of users working on the platform and making transactions in the decentralized system.
Disadvantages Of dApps:
Upgradation and fixing bugs is difficult in dApps as fixes required every peer to update.
API is required in dApps.
Complex programming language used in dApps make it hard to make the changes in the system.
Retrieve of token from other accounts if send mistakenly is not possible in dApps.
How can dApps developers promote their apps?
The best way for promoting dApps is through Index Dex Offering(IDO), ICO, or IEO.
DApps can be promoted on any of the centralized applications like Twitter, Facebook, Instagram.
A unique way for promoting a newbie dApp is by distributing tokens amount the users.
What should we pay attention to when using dApps?
While using any of the decentralized application a user should pay attention to the following important feature such as:
- Transaction fee
- Governance level
- Transparency that it provides to its users
- Decentralized system and flexibility to the network
How do we find the information of a DApp that we want to know?
Step 1:
At the very beginning, visit the following website in order to collect the information about a dApp. On clicking the link, you will be encountered with this type of interface. Click on Ranking for viewing the list of dApps.
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Step 2:
After clicking a list of dApps will appear. From which I'm choosing Splinterlands. After clicking on Splinterlands, all the information regarding Splinterlands will be shown on the screen.
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Step 3:
If you scroll down a bit you will be able to see more information about Splinterlands. For further information click on Go Advance.
On clicking the advance option, the page will ask you your email and Request for more analytics.
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I hope you like today's post and learn something new. Take care, Goodbye.
Regards,
@syedhuzaifa123.
Cc.
@wahyunahrul