Steemit Crypto Academy Season 5 Beginners' course - Task 8: Decentralized Applications (dApps)
Hi Steemians,,,
I'm dhanux94. I would like to thank professor @wahyunahrul for providing the details. Your lecture was very important to me for this homework. I learned a lot about the Decentralized Application (dApps).
I will answer the first of three questions your mentioned.
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).
Answer
What are dApps?
DApps is an acronym for decentralized applications running on blockchain or p2p networks. DApps are online applications that decentralize to a blocked network on a smart mobile phone, Tab, Laptop and many other computer systems. Networks such as Facebook, Instragram, and Twitter operate on a centralized network, where the account holder may unknowingly access the account and obtain information. But dApps is a decentralized network so it works the opposite way. There the user is free to edit as they wish and to publish anything as well as manipulate the account without any interference. So dApps is more perfect than other apps. This is an open source so lets do anything.
This ensures secure and secure transactions so that transactions can be done through dApps at any time without any hesitation or fear. It plays an active role in activating applications for any user as there are no restrictions like the central authority. DApps also allows anyone anywhere in the world to send money at low charges without a lengthy process. DApps empowers users to apologize for any changes in the software with the help of a compromise mechanism.
•~ Popcorn
•~ Bit torrent
•~ Freelance
•~ Uniswap
Explain the working system of dApps?
All dApps powered by blockchain network or technology use an open source system and are successful with the help of smart contracts. It automatically records transactions without any control and without the help of third parties. A peer-to-peer system is functional, so no third party is required. Also known as a Ledger here because of its ability to keep records. DApps is now compliant with Blockchain with the help of Smart Contract. Instead of the traditional application, dApps was also developed to eliminate the insecurity and centralized nature of blockchain. Here are the front and back codes of dApps to exchange or distribute data. It then enters the data through those codes according to the consent of the multiple participants in the blockchain. If there is a malfunction or system crash, the rear end makes it very difficult. There are small fees for transactions through dApps and you will have to pay in different tokens depending on the type of blockchain it operates on.
What are the differences between dApps and other applications?
Users of dApp can change the code and change the themes and other things to their liking. As a decentralized blockchain, its users have full control and ownership of assets without the intervention of anyone else.
DApps users can send money quickly and cheaply without fear, even if it costs a lot of money to use the app to send money from one centralized application to another.
DApps with transparent functionality are stored in the public ledger, and once their applications and data are generated, they are difficult to erase again compared to other applications.
Since dApps' operations take place on each network, data and assets are distributed among its participants. It has a very high level of security as it is therefore difficult for attackers to attack easily and we can conclude that all the information is secure.
Network transactions are fast, secure and easy, with no third party interference in dealing with dApps. But compared to other applications, third party intervention is required.
While other applications operate primarily for financial purposes, dApps is developed not only for financial purposes but also to help build decentralized applications and smart contracts.
Explain the advantages and disadvantages of dApps?
| Advantages of dApps | Disadvantages of dApps |
|---|---|
| Compared to a centralized application, dApps is stable and easily accessible. | DApps are easily accessible due to their complex nature as they run through the Ecosystem. |
| No one is trying to manipulate the data here alone. This is not possible with dApps. | The authentication process is easier in a centralized application, but the verification process in dApps can be very difficult for users. |
| It is difficult to impose restrictions on access to any individual or to impose unstable time, as there is no control over a single authority. | Updating dApps also slows down the process as all peers need to update their nodes. |
| The security level of dApps is very high as no one can enter without permission and no outsider can influence. | Accessing dApps is also complicated so not everyone can do it. |
| The other advantage is that dApps operate on a decentralized system, giving its users full control over their funds. | And because it is a peer to peer based network, the potential for fraud is high. Another reason is the lack of a third party. |
| They also have the ability to connect to each other because a peer-to-peer system is functional. | Having non-user-friendly dApps applications can lead to frustration for new users. Even when a problem arises, it is not easy to solve. |
How can dApps developers promote their apps?
As the modern world has come a long way with the advancement of technology, there are many ways for anyone who wants to promote dApps.
© DApps developers can promote their applications by advertising on websites such as twitter, Instragram, Telegram, Discord.
© As social media is widely used now, a developer can promote his or her application through the social media facebook page to get the attention of the audience.
© DApps developers can promote dApps once they enter the directory and submit their application. Such directories include dApps such as dAppclap, dappradar, and dappbang dapp100. They can publish and promote their work.
© People can explore places where they are heavily involved or organize events and promote their dApps at those events.
What should we pay attention to when using dApps?
When we, as rational-minded intelligent people, engage in anything, we have to take risks in order to achieve its success and to avoid future harms. The same is true for the crypto world as well as for dApps. Although it is always said that dApps are good, there are dApps apps that we need to pay attention to. Then there are crypto cash receipts as well as losses. Therefore, before using dApps, we need to do some research and study to get a better understanding of it.
That is why many investors who are going to invest without checking the market incur huge losses. We need to find more risky dApps. They are often dApps that come in a pyramid scheme.
~• Etherchain
~• Doubleway
~• Forsage
~• Hex & etc...
Someone joins in when it is said that these dApps are not decentralized and have the potential to give tokens and win prizes. Many of these are fraudulent applications, so you should always be aware of them. Therefore, I repeat, we need to do proper research before investing in dApps that have been active for a long time without the knowledge of this owner.
How do we find the information of a dApp that we want to know? Provide the steps
If we want to know more about dApps, we must first visit "www.dappradar.com".
• Then we can get a nice view of the web page. Now find the "Menu" button on the right side of the same page and click on it
• Then we come to the following page.
• Now click on "Ranking" on that page.
• It shows the current ranking status and to get the information needed for this explanation I will select AtomicAssets in 4th place and click on it.
Now it shows me all the information I need like users, transactions, volume, balance. Going further, its historical activity is shown in the form of a graph.
Thank you so much for reading my post😊
