Steemit Crypto Academy Season 4 Beginners' course - Task 8: Decentralized Applications (dApps)
Greeting CrptoAcadamy,
1). 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).
WHAT ARE DAPPS?
DApps are online programs or apps that run on decentralized per-blockchain networks of computing systems including smartphones, tablets, and laptops, among others. Smart contracts and a frontend interface are both included in DApps, which are used to conduct transactions on a blockchain.
DApps in cryptocurrencies is decentralized because they run on a blockchain in an open-source environment without intervention from a central authority, allowing several users to act independently on a blockchain.
With the aid of a consensus process, DApps allow participants to make whatever changes to the program they want.
DApps can also reward those who have verified their dApps with tokens. dApps are distributed applications that operate on several major computer systems and are based on blockchain technology. Computing systems include Ethereum, Bitcoin, and other cryptocurrencies.
Explain the working system of dApps?
Decentralized apps use a peer-to-peer (P2P) model, which means that nodes can communicate directly with one another. A consensus method is used to process transactions in a DApp. The transaction is processed once the majority of the nodes have approved it.Consider the ethereum blockchain, for instance, Ethereum's node, transactions, and records are all stored on the Ethereum blockchain. Ethereum is a cryptocurrency that operates on a decentralized network.
These decentralized applications (dApps) allow for transactions, exchanges, and access to the crypto/fiat currency stored in the blockchain system. The Ethereum blockchain runs a logical program known as a "smart contract," which defines rules for users to obey, such as a chainset.
What is the difference between dapps and other applications?
DApps operates on a decentralized blockchain, where participants have complete control and ownership of their assets without interference from any central authority, as opposed to other apps that have a central authority or point of contact.
Decentralized apps are much faster than centralized apps.
DApps are open source, whereas traditional applications are closed source.
DApps are based on Blockchain technology and a peer-to-peer network, whereas centralized applications do not require Blockchain technology.
When compared to the cost of developing other applications, the cost of developing DApps is higher.
Explain the advantages and disadvantages of dApps?
Advantages :
Because users have complete control and ownership of their data and assets, decentralized applications are more dependable and trusted by their users.
Decentralized applications eliminate the need for a third party to facilitate transactions, resulting in lower transaction fees.
They're available all over the world.
In comparison to centralized applications, which are relatively easy to attack since all you have to do is target the central hosting server, decentralized systems are more secure and protected from malicious attack
Disadvantages:
Authentication in DApps is extremely difficult because, unlike centralized apps, DApps do not operate on a single company.
When there is a large number of people connected in the same Dapps, it often slows down.
Because they must be verified from node to node, the configurations or updates that are executed are slow.
Users must have a basic understanding of dApps to effectively use them.
How can DApps developers promote their applications?
Almost anything can be used to promote a dApp. Billboards, television commercials, social media apps, and so on. Of course, using social media is one of the most effective methods, as nearly everyone nowadays has a social media account from which we can learn anything.
The developer could employ a giveaway strategy, in which it offers free benefits to users in exchange for them testifying to others and introducing them to the dApps so that they can benefit as well.
Introduce a free version of the dApps; someone might want to try out what the dApps have to offer before deciding whether or not to buy the full version if they like it.
What should we pay attention to when using DApps?
If we're going to put money into a Dapp, It is important to remember that the returns are variable., which means you could make a profit but also lose money, therefore we should avoid doing so. Only invest money that you can afford to lose. As a result, deciding on risk and return parameters is important.
We should pay attention to how advantageous it is to us, the users, and how fast and low the transaction fees are.
Security. Various hackers are on the lookout for ways to trick users into falling for fraud or scams. Keep your secret keys in a secure location and, most all, do not share them.
How do we find the information of a DApp that we want to know? Provide the steps (screenshot required).
- To begin, go to Google and type in https://dappradar.com/. Select the square icon and select Rankings.
.png)
screenshot from https://dappradar.com/
- On the next page, We can choose any dApp whose data we want to examine. I'm going to go with Splinterlands.
screenshot from https://dappradar.com/
- We can quickly review the dApp's ranking, Token price, TVL, ATVL, Marketcap, CAP/TVL, and Historical Activity information from the page that opens.
screenshot from https://dappradar.com/
screenshot from https://dappradar.com/
- By clicking the Go Advanced button at the bottom right, you can also provide your e-mail address to receive advanced information.
screenshot from https://dappradar.com/
screenshot from https://dappradar.com/
CONCLUSION
Thanks again to prof.@wahyunahrul for the well-explained lecture; it's been a pleasure working on this task.