Homework Task 2: Explain at least one DApp on the Tron Blockchain

Hello everyone. I am here at the moment to talk about DApps on the Tron Blockchain. In this piece, I will be talking about what DApp is, how it works and a specific one on the Tron Blockchain will be made my area of concentration. Thanks to the lecture from the crypto academy professor @yohan2on, I have learnt a lot from him and it's time to do justice to the homework given to show I truly understood the professor's lecture.

DApp is coined from two words, Decentralized and Application and formed what is know as DApp (Decentralized Application). Decentralization can be termed as an evenly or equal distribution of power or wealth from a single entity to other parts of the system, also decentralized is the process by which all affairs or activities pertaining to an organization is controlled from a central unit which has the authoritative power to control all that happens in the system. Application simply means a piece of software designed from written computer programs. A Decentralized Applications (DApps) is a computer application that executes its purpose on a distributed computing system on the Cryptocurrency Blockchain, and as such has a central distribution with authority to distribute to other parts of the system, that is power is being distributed from a single node to all other node in the system.

In this context I will talk about DApp built on the Tron Blockchain, listing several numbers of DApp and pick one as an area of concentration for this cause.

To mention a few, all the above are some of the DApps on the Tron Blockchain. I will be talking about one of them which is JustSwap.

JustSwap is one of the DApps built on the Tron Blockchain and in fact, it was the first decentralized token exchange protocol on the TRON Blockchain. One of the advantages of JustSwap DApp is that it allows users to exchange any TRC20 tokens (tokens placed on the Tron network) at the system price almost instantly and also allow users to earn transaction fees by being a liquidity provider. JustSwap Liquidity provider is someone who funds a liquidity pool with his/her cryptocurrency assets to facilitate the trading process on the platform and thereby earn passive income.

As indicated in the screenshot above, from the landing page of the JustSwap DApp. First of all, switch to Swap and locate the connect wallet button at the bottom of the page. After a successful connection to your wallet (TronLink App or whatever wallet you are transferring funds from), the drop down at the top right is the crypto you are exchanging for the other. Click it to select the crypto you are trying to exchange with, in this case I am exchanging with TRON (TRX), also by the bottom right, click the drop down to select the crypto you are exchanging to. In this case, I am converting from TRX to BTC. After successfully setting the two cryptos you are exchanging, click exchange. Your crypto will be exchanged instantly. The process is shown in the screenshot below.

At the beginning of this context, I said one can become a liquidity provider and earn passive income on JustSwap. To become one, switch to pool from the landing page of JustSwap, connect you wallet, click add liquidity and select the crypto and amount of liquidity you are adding then confirm the transaction. The process is shown below.

It's a great pleasure to have come this far after I've learnt a lot from the crypto professors. My regards to @yohan2on for his awesome delivery on this lecture. And thanks to all crypto professors of the @crypo-academy for their efforts. Thank you all.