Posts

What do you know about Dapps?

avatar of @attentionneeded
25
@attentionneeded
·
·
0 views
·
2 min read

There are lot of promising Dapps built currently on different blockchain by different industries, in the art world, gaming world, and finance world.

So what are Dapps? Dapps are known as Decentralised Applications, they are like the normal usual apps but they operate on a blockchain network and they can also be created for different purposes for normal use.

Dapps are *open-source in sense that their code is available public for any user to verify.

Dapps operates independently through the use of *smart contracts to execute transactions, the smart contracts are the key to ensure that transactions are done smoothly between two parties.

Dapps are *decentralized as they run on blockchain networks, and are controlled by users instead of third party middle men or authorities.

They are also **secured cryptographically*, which means that all the data are stored in a public blockchain, so there won’t be a point of failure.

The good thing about Dapps is that they are very much less vulnerable when it involves cyber-attacks and technical issues compared to other centralized applications and traditional apps. For example if a centralized application server is compromised, the networks can be taken down totally, but that doesn’t mean that Dapps are completely immune to attacks.

Dapps are very difficult for government authorities or any other official parties to take control of their network or even restrict users for accessing it and they are resistant to censorship.

Disadvantage One major problem with the Dapps is maintenance and update. Because it uses a decentralized application code and published to the blockchain. Compare to the traditional apps, Dapps are not user friendly.

**

Their Uses

* There are different variety uses for Dapps, for example it can be used as crypto wallets, gaming, social media and more. Currently the most popular Dapps are DEXs.

They support their own functionalities or operations through the use of digital tokens based on smart contracts, the tokens can either be unique to the Dapps itself or be a native to the Dapps blockchain.

*Some examples of Dapps are;

Axie Infinity is an NFT-based play-to-earn game, which is played by Pokémon-inspired Axies to play other games.

OpenSea; it’s an online peer-to-peer NFT market place, it can also be used to trade crypto collectibles, gaming items, and rare digital items.

Uniswap; which is an automated token exchange

Posted Using LeoFinance Beta