Decentralized Applications or dApps

    0
    186

    In News

    • dApps are applications that run on a blockchain or a peer-to-peer network instead of running on a single database controlled by a central authority.

    About

    • What are dApps?
      • Decentralized applications are programmes that allow people to interact with one another without the need for third parties.
      • Financial transactions or legal communication are examples of interactions that traditionally rely on third parties to complete the work.
      • In this regard, dApps are advantageous because, rather than relying on the competence and trustworthiness of third parties, they enforce contracts and agreements using solid code and a layer of computers.
      • They give you the personal freedom to interact with a peer without being held accountable for it.
      • These programmes, too, do not require any personal information to function.
    • Characteristics of decentralized apps
      • They exist and run on a blockchain network powered by smart contracts.
      • These smart contracts are open-source pieces of code created by a decentralized authority, and no individual authority controls them.
      • dApps are powered by individual tokens based on the blockchain.
      • Users who interact efficiently with the ecosystem get rewarded using the native tokens of the dApp.
      • Most dApps are built on the Ethereum blockchain, thus they use ETH for transactions.
    • How are dApps different from regular applications?
      • DApps have the same feel as regular apps and run as smoothly and efficiently as any other web or mobile app.
      • They are, however, distinct from traditional applications in terms of scale and the platform they populate.

    Regular apps

    Decentralized Apps (dApps)

    The user interacts with a traditional program or code designed by a third party.

    The user interacts with smart contracts based on the blockchain in the backend.

    The backend is made up of centralized servers that are managed by a single authority.

    These are distributed across multiple systems around the world with no central control.

    Lower computing power than dApps.

    It has a higher computing power than regular apps.

    Less secure and more vulnerable to cyber-attacks.

    Less vulnerable to cyber attacks due to the security of the blockchain.

    It won’t work if the servers are down or undergoing maintenance.

    Even if some network nodes go down, the system will continue to function normally.

    Source: ET