D- APPS (Decentralized Apps)
D-Apps.....Most Interesting word to know about...
In this Article, Let us know about the concept of D-apps and how it operates.
Dapps mean Decentralized applications. Let us go with the technical definition.
An App (Say Paytm/Ola/Gmail) can be called as D-App only if it qualifies the following -
1.Open Source -The code behind the app shall be Publicly made available for scrutiny by anyone
- App data and Operations must be in Public decentralized network (I.e on Blockchain)
3.Must use Cryptocurrency to access app/reward the protectors of app
- The app must work as per Consensus algorithm (Not controlled by any majority owners)
To keep it simple... Currently, our Appstore/Play Store apps are controlled/owned by some people(Owners). Assume if the same apps with no control by ANYONE and satisfies the above conditions are called D-Apps. A lot of smart contracts (as seen in the previous post) clubbed together and loaded in networks forms D-apps.
The benefits are No middlemen to manage user information, Open source, No central point of failure (As they are in the distributed ledger), Modifications to coding shall be done with consensus, etc, etc..
Currently, Ethereum is most used for developing D apps. Cardano, Lisk, QTUM, and NEO are also being used for dApp development.
To keep in Nutshell, tomorrow we may be floating a company using smart contracts on the blockchain which may be called a Dapp with all conditions specified inside.