Steemit Crypto Academy Season 4 Beginner's Course- Task8: Decentralized Applications (Dapps): Home Work Task for Prof. @wahyunahrul
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).
The acronym 'dapps' is used to refer to Decentralized Applications. DApps can be defined as those applications that are created on a decentralized network, to be free from central authority or intermediaries. It functions on a peer to peer network like the blockchain network.
There are three types of blockchain namely:
TYPE I which refers to decentralized applications that are built on their own blockchain for example: Bitcoin and Ethereum.
TYPE II which are decentralized applications which are built on the type I blockchain but make use of their own tokens.
TYPE III are those decentralized applications that operates with the use of type II source code.
Characteristics of DApps
Decentralization: DApps are naturally decentralized, meaning all the data of DApps are safely stored on a blockchain and there can't be accessed by any external body or third party.
Generate Token: By adding value to the nodes that contribute to the growth of the DApp, they generate DAPP token in order to reward their users.
Users Access: Users are given easy access to DApps in exchange for tokens.
All the decentralized applications are making use of the ethereum blockchain to safely store their data.They also work with the use of smart contract, i.e. DApps are connected to the blockchain through the help of smart contract
Smart contract is a back end code that runs on a decentralized blockchain, which allows all the transactions made within it to be recorded. DApps usually use some kind of crypto token to maintain transactions.
| DECENTRALIZED APPLICATIONS (DAPPS) | OTHER APPLICATIONS(CENTRALIZED APP) |
|---|---|
| 1) They don't require intermediaries or third parties because users are directly connected to the service provider. | They rely on third parties to be able to carry out transactions. |
| 2) DApps are much more secure than other applications. | Centralized applications are prone to attack by hackers. |
| 3) In decentralized applications, the capacity of the network grows with the increase in the number of the users. | Developers of centralized applications will have to increase the capacity of their network as the users increases. |
| 4) Decentralized Applications continues to function even if the users are offline. | The centralized application goes off immediately the users are offline. |
| ADVANTAGES | DISADVANTAGES |
|---|---|
| 1) Access to dapps are not limited by any central authority since it is not centralized. | Informations about third parties are hard to get since dapps do not have third party API. |
| 2) The data flow of dapps does not come from a central or single point. | Dapps have a tough/hard verification process since the network is not operated by a central body. |
| 3) Dapps have a very strong security which makes it difficult for hackers to be able to attack. | Fixing a problem in a dapp is quite stressful since it will require all the users or nodes of that particular dapp to update their copies. |
The following are what dapps developers can do to promote their apps.
First, they can submit their application to directories of dapp like: dappradar, dapp100, dappbang, dappclap, by logging in to their website. Another way to promote their app is through the use of social media like: telegram, discord, twitter, reddit and facebookfor advertising the apps.
Decentralized applications are the best apps to use but there are some risky DApps that are some kind of ponzi scheme therefore, while using dapps, we must pay attention to what is known as high-risk DApp.
High-risk DApps refers to those dapps that have the bearing of the pyramid or ponzi scheme. Many of these high-risk DApps usually come with promises of working with popular exchanges and also being decentralized and transparent but these are just lies to get people to use them and also invest in them. Promises of rewards are also made to those who join through you referral link. Therefore, do well to conduct researches on them before use or investing.
It's easy to find information about a particular DApp. Below are the screenshots of the steps to be taken.
Step1#
Search on your browser dappradar.com
Step2#
Click on the menu icon on the top right corner of your phone screen as shown.
Step3#
You'll be given the options to choose which you want to explore. Since we are interested in knowing the ranking of a particular DApp, you click on the ranking option.
Step4#
Click or choose the dapp you want to check. I clicked on Justswap since that's the one I want to check.
Step5#
Immediately I clicked on the dapp I need, I saw the below information as shown on the screenshot. The information or statistics is for the last seven days.
To know the statistics for the last 24hrs, I clicked on the icon 24H
To also know the statistics for the last thirty days l, I clicked on the 30D icon and I had the following information on the screenshot.
Thank you prof. @wahyunahrul.
