Steemit Crypto Academy Season 3 Week 7 | Decentralized Apps (DApps) - Future Apps From Blockchain System| Homework post for Professor @wahyunahrul

Good day steemians, my best regards goes to professor @wahyulnahul for taking us through these great lectures. This week's lecture is about decentralized apps (DApps). Before I will go straight to answer the questions I will first of all explore the knowledge I got from the lectures to tell what a decentralized App (DAPP) is.

_{Image source}

A decentralized App (DAPP) is made up of back-end code which works on a decentralized peer-to-peer network. A DApp can also possess a user interface which can be created by front-end code linking to the back-end. DApps do not need a central authority in order to function. It makes direct interaction possible between users and providers.

From the knowledge gained on DApps from the professor, I think there is a sure possibility of replacing central apps for the below points of view.

• Accessibility
  DApps permitted users to have access to them in exchange for tokens.

• Safe and secure
  Unlike centralized app which which can be controlled by the developer, Decentralized apps are secured just like the blockchain,there is no hidden information and hence prevents users data from being hacked

• DApps generate tokens to establish value to their contributing nodes. Also miners are rewarded with tokens when contributed to the ecosystem successfully.

Is there a possibility of DApps stealing user data?

Based on the knowledge I gain from the lectures, I am sure that it is impossible for a user data to be stolen by DApps. From the points in question 1, we are enlightened that DApps are open source, hence there is no hidden information just like the blockchain. Therefore, there is no possibility for a DApp to steal a user's data.

 But you should take note not to share passwords with any third party because weak passwords can be hacked by hackers to steal your crypto currency.

How DApps promote it's application to the public.

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• Decentralized apps, as suggested, lack centralization. This specifies that they can be more secure, resilient, and autonomous than traditional applications. DApps mainly use crypto currencies as the build-in medium of exchange. With that, it potentially boost the mainstream acceptance of crypto currencies by introducing more people into it.

• The global financial sector, together with the general business environment, used to rely on centralized structures. Though,this worked for decades but also brought along with crowd problems. DApps come with the promise of burying the majority of those issues. For instance; poor security, inadequate transparency and improper use of power are all problems which DApps solve.

• Also, users of DApps enjoy a far more distributed approach instead of relying on a stemming flow of data from one central point. Hence, they are immune to any single failure.
  

How to view Dapps ranking explore Dapp

I will choose uniswap to do the analysis.

_Source

But before I can get access to it, I will first visit the site👉 _DappRader

The homepage of the website will be shown as below

_{homepage of the DappRader}

I will click on ranking which will show me ranks of the DApps. I locate uniswap which I am looking for which at 7th position at the time I took the screenshot.

_{Uniswap at 7th rank by then}

I click on uniswap and the resulted pop up menu is shown below

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_{chart of uniswap by then}

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I will then click on open Dapp

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After clicking on open Dapp, the next shown is for me to connect to wallet

I Will click on connect to my wallet

Explore

Swap

Uniswap has a feature of being able to exchange tokens from one to the other.

Pool tokens

When the pool is funded with liquidity, the liquidity tokens are produced and sent to the provider's address. 0.3% fee is charged and send to the transaction sender whenever trade occurs.

The DApp I will have created if I were a DApps developer

If I am to create a DApp, I will name it DApp-media where the ranks of crypto currencies and prices can be checked through the DApp media. Trading and investing in cryptocurrency can also be located in the DApp media. I will make sure the DApp records all traded information so that it will be open source for everyone to have access to it.
However, I will make sure that users register with a genuine national ID, email address, and password. After that, the user will be provided a verification number to check before being granted access to the DApp-media.
Before I create the media, the below points are taken into consideration.

• I will initially publish a whitepaper that will describe the DApp media and its features. It will outline the idea of developing the DApp-media.

• Initial coin offering
  I will spread the ownership stake in the DApp-media.

• Token sale
  I will set up the sale of the initial tokens.

• Launching and implementation
  The final step I will take is to invest funds in the development of the DApp-media and deploy it.
  

Conclusion

Apps have transformed into DApps. Thanks to blockchain technology. DApps are superior to regular apps since they have the ability to become self-sustaining resources by allowing stakeholders to contribute in DApp development. DApps will be favored over currently available traditional applications for a variety of uses in the near future, including payments, storage, and cloud computing.

CC:
professor @wahyunahrul

Thank you for reading