Beginner Course Steemit Crypto Academy Season 3 Week 7 HOMEWORK for professor @wahyunahrul | Decentralized Apps (DApps) - Future Apps From Blockchain System by @dilchamo

Homework Tasks

1).Will DApps be able to replace centralized applications in other fields in the future?

2).Is there a possibility for DApps to steal user data?

3).Explain the ways in which a DApp promotes its application to the public?

4).Choose a DApp and do a detailed analysis that proves that the DApp is a good one to use. (Provide proof with screenshot).

5).If you were a DApps developer, what kind of app would you like to create? Explain all the details of the DApp plan that you will make.

6).Conclusion.

INTRODUCTION

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Dapps or Decentralized Applications are digital applications /programs that exist on a blockchain or peer to peer network of computers. These Dapps are not controlled by a single central authority. Unlike webapps such as twitter, Instagram, facebook or youtube ; Dapps give the fullauthority over the app and its working and no central authority at the backend to control the applications.

In cryptocurrency world Dapps run on a blockchain network in an opensouurce, decentralized environment. The Dapps are used by many users to create content and share with the public but no one can delete the posts shared by others or block users after running through the consensus mechanism as there is no single owner to control. Dapps are free from control and interference by any backend owner.

Will DApps be able to replace centralized applications in other fields in the future?

Dapps can be defined as flexible, transparent and distributed as they have the potential to transform the technological landscape.

Nowadays centralized applications like facebook, twitter, youtube and Instagram are more popular and prominent. Users put their trust, vital information and data on the hands of the central authority. This allows the central authority to have control over everything users do on these centralized applications. Users are putting their privacy at a risk.
So it is very clear that decentralized applications are useful as they connect different people in market places, sharing and storing resources and can maintain cryptos without giving control to central authority. There are Dapps that are created in the form of digital wallets allowing people to manage cryptocurrencies.

As a result of these shortcomings in the centralized apps the users have now gradually becoming interested in using Dapps.

Golem, Status, Augur, Prism, Aragon are some popular Dapps which were recently introduced.
With the emergence of high quality Dapps users who were fed up of using centralized apps will start joining the Dapps in the future.

Is there a possibility for DApps to steal user data?

Decentralized applications have pros and con itself. But they assure the security of user information. When looking into the features of Dapps it will be crystal clear that Dapps are high in security than the Centralized applications.

• The decentralized structure of the application allows each party to run the app without having to trust any other party. This results users to fast adoption to the application.
• The data in the Dapps are more secure as they run on a blockchain network. Even though a single node is hijacked the security of the user data is not affected.
• Once the information is added to the blockchain it is stored permanently. So there will not be any data loss once published.
• Dapps has a high transaction speed which leads to cost reduction. The decentralized applications do not need heavy servers or hire experts to manage the application.

As a result of these noticeable security features Dapps are known to be high in data security.

Explain the ways in which a DApp promotes its application to the public?

Dapps are promoted to the public by its nature. The features are the most considered facts that the public search for. As stated above the DApps gives access to smart contracts. Funds can be deposited into these smart contracts. The deposited funds can then be accessed and transferred to any other user who meets certain conditions in the smart contract. These conditional transfers pave the way to advanced marketing strategies for DApps. DApp has access to a native and sophisticated solution to implement campaigns like discounts, coupons or loyalty programs. Buy two get one free like coupons are issued to promote the DApps. When the users joined on or before a certain date then they get a percentage of a discount by the DApps. Long term customers get rewarded for using a certain platform for a certain period of time. These DApps are fueled with the tokens that are generated using a protocol.
Here are some features of DApps.

• Protocol / Algorithm – To generate tokens that reward network participants
• Blockchain – Data stored cryptographically in a blockchain
• Open Source – Code is available to everyone
• Incentive – Crypto tokens are used to reward network users/miners
• Decentralized – No one controlling power

Choose a DApp and do a detailed analysis that proves that the DApp is a good one to use

First visit the DappRadar .

Users can select any DApp by considering the ranking. I selected the Pancakeswap which is one of my favorite Dapp. It is in the top 10 DApp list.

Once I click on the DApp icon I can see the details of the DApp. I will click on the “open app” icon. Down you can see the details of the DApp called Statistics.

There are two options ** “Connect wallet and Trade.”**

You can select the connect wallet option.

Then I install the trust wallet into my mobile phone. Then I clicked on DApps in the wallet and entered the pancakeswap link to the wallet and click on the "connect wallet" button.

Then I could see Pancakeswap Info and analytics after the Dapp and the wallet connected.

Then I can see the Top tokens and Top pools list in the DApp which is considered as a unique feature of DApps.

And I also can see the transaction details off the DApp.

The above features of the Pancakeswap DApp gives in detail information about the cryptocurrency market which is an essential info for the traders.

If you were a DApps developer, what kind of app would you like to create? Explain all the details of the DApp plan that you will make

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The planning of a DApp can be done under few steps.

STEP 01- Identify the Project

It is essential to identify the project. Each steps that the application will undertake and its method of solving the problems should be pre identified. Create a vision and mission for your project.

STEP 02- Create a white paper

After analyzing the vision and mission I will create a white paper including all functionalities stated and featured for a certain planned period of time. it will make readers to read and understand the vision and mission of the DApp. It will attract the investors.

STEP 03- Launch an Initial Coin offering

To raise funds for the project it is essential to have ICO.

STEP 04- Start Building the App

• Different approaches can be taken to build up the App. Ethereum is a simple and easy platform to generate DApps. It reduces time and money.
• Define your environment
• Set up the tools for the development of the project
• Code the application. Use coding systems using HTML or JavaScript.
• Test the App.

STEP 05- Launching the App

Can launch the app choosing a domain so that it makes the DApp professional and known to everyone.

Conclusion

Dapps has evolved with exceptional features unlike centralized apps. It gives the stakeholders to invest in DApp development. As a result of their popularity Dapps will be established for multiple purposes such as payments, storage and cloud computing. It is clear this DApps will surpass the available traditional centralized applications. Thank you professor @wahyunahrul for teaching this lesson. Thank you for reading my post. Have a nice day.