Steemit Crypto Academy Season 5 Beginers'Course - Task 8: Decentralized Applications (dapps) : Home work Task by @habdallah.

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).

2). Look for 2 similar dApps and do a detailed fundamental analysis and compare the two dApps and explain the results of your analysis. (Screenshots required).

3). If you were a dApps developer, what kind of dApps would you like to create? Give reasons why you want to create these dApps. What are the steps you will take to make your dApps grow? Make a Roadmap for your dApp

               **INTRODUCTION**

The Cryptocurrency world is a very unique and complex community which requires one to be very conversant about it. Also one needs to understand the concept or how dApps operate or work.

Decentralized applications is the full meaning of the acronym dApp.
DApps are applications that possess the qualities and functions of any normal applications, but with dApps, they operate on a peer to peer blockchain. Also dApps are fully decentralized network or apps because they work on a particular blockchain technology.
They combine smart contract and and a user interface together to operate.

Some characteristics of a decentralized app is that;

The apps core source code is available to everyone on the network. This is because it is decentralized and decisions regarding the app is decided by the majority group using the source code.

All the data in a dApps is secured and stored in a blockchain or any cryptographic technology. This makes it very difficult for hackers to tamper with it.

The algorithm of dApps has a consensus mechanism which serve as proof of value in the cryptographic world. This is needed because the consensus mechanism gives cryptographic tokens values and also creates some foot steps in order to be able to create a Crypto token.

The validators of records on a dApp network are always being rewarded with some cryptocurrencies. The rewards can be in etherium,bitcoin, steem or binance etc.

The working system of dApps

Dapps works on a backend code known as smart contracts which runs on a decentralized blockchain technology. Almost all dApps makes use of the etherium blockchain for saving data and they use smart contracts for their app logic.

Smart contracts

Smart contracts is basically an algorithms or set of rules, layed in the blockchain technology which individuals are expected to adhere to or work with.
Whenever dapps are excuted on the Ethereum network it can't be changed. Dapps is decentralized because they are managed by the logic written into the contract, which is to say it isn't written by any single individual. So no one can perform any changes to it.
Smart works like the human brain, which is connected to all other parts of the body. Or vice versa. So smart chain connects dApps to the blockchain network.

Differences between dApps and other applications.

dApps	Other Apps
The security of a decentralized application is stronger than that of other applications.Because dApps are decentralized in nature, and the nodes are distributed through computers all over the world	Other applications are centralized. Which is the owner of the app controls it all alone which makes the security minimal and can be attacked by hackers easily.
Decentralized applications are trustworthy and reliable because it informations are being stored on the blockchain technology which makes it safe and secure.	Other apps are controlled being controlled by a group of people or private individual. Individual can make changes to a particular app whenever they wish to which renders it not to be trustworthy.
With the decentralized apps users are granted the full control of their apps.	In others apps, the app is being controlled and managed by a central unit or body.
When developing a dApp there is no need to be worried about anything like the maintanance fee,the cost of server and others.	But in the case of a normal app,these things are much considered when building an app.

Advantages and disadvantages of dApps.

Advantages

• dApps are decentralized, they are not managed or controlled by a central unit. Therefor they are more resilient, and secure than other apps.

• Data distributed on dApps are not controlled by an individual so changes can't be made at any given time. Which is a good advantages.

• dApps has stronger security system due to the it operation on a blockchain technology.

Disadvantages

• Dapps are exposed to hackers, due to it open-source smart contracts which dApps runs on, it grants hackers the opportunity to look for weak in a particular app and exploit it.

• Because it is a decentralized network, there is always the need for all users to update their copy the open source in order to solve a particular issue or problem.

• Verification in dApps is very hard because dApps doesn't operate using a single entity.

• Due to the complexity of the dApps users usually find it difficult when interacting with it. Therefore it has poor usability.

How dApps developers promote their apps

DApps developers can promote their apps by applying the presumed idea below.

First of all the developers need to educate the mass or people about the app. They can try to advertise it through social media platforms.
Because most people these days spend a lot of time on it. Also they can advertise it on tv or radio.
The dApps developer should try to and be submiting their app to dApps directories, after building them. They can log into any if these apps which is; dAppbang, dAppradar and dApp100 and many others to submit their works. By applying the above mentioned ideas it will help a lot.

What to pay attention to when using dApps

The use of dApps is very intresting but there are some key facts we need to take notice of. One of which is, we need to make a good research and have enough knowledge about a particular app before using it, in order to avoid high risk dApps. High risk dApps are tricky, some are centralized in nature.

How to find the information of a particular DApp that we want to know and the steps in doing that.

Step 1: Type in this website https://dappradar.com/ in your address bar.

Home page of the dappradar website

Step 2: click on the menu option

Step 3: A pop up menu bar appears you then select ranking from the list of menu.

Step 4: The current dApps ranking then appears on your screen. From which i will select pancakeswap.

Step 5: The portfolio of the pancakeswap dapp will be displayed for me to see, that is after i clicked on it.

Information about the dApp

The token name is cake
Ranking 1
Token price $10.29
Marketcap $6.16B

In conclusion, DApps are applications that possess the qualities and functions of any normal applications, but with dApps, they operate on a peer to peer blockchain. Also dApps are fully decentralized network or apps because they work on a particular blockchain technology.
They combine smart contract and and a user interface together to operate.

Best regards professor @wahyunahrul.