Steemit Crypto Academy Season 5 Beginners' course - Task 8: Decentralized Applications (dApps)
Hello Professor @wahyunahrul hope you are good! Am here to submit the assignment on dApps below are the questions I wish to answer.
SourcedApps also know as Decentralized Application that works on a blockchain network computers rather than waiting for a single computer. It also protects it's users privacy. The absence of censorship makes the development flexible. dApps are not controlled by anyone.
Decentralized Application make use of a smart contract that runs on a decentralized system. The Smart Contracts are used for app logic and 5hey also make use of Ethereum blockchain to store data. A smart contracts has a lay down rules on blockchain that are visible for users to see and obey the rules. The Smart Contracts are like a vending machine that can holds may funds like the Ethereum account and also it gives access to codes to moderate agreement and transactions. You cannot be able to make any changes once the dApps are distributed on the Ethereum network. Due to dApps are controlled by logic written into the contracts, makes them a decentralized apps.
The main difference between a dApps and other Apps is the lay down principle of Decentralization. Other apps are are controlled by the centralized system but the dApps works on the P2P blockchain network.
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Source- dApps are Trustable: Users are in controll of their own data and information making dApps more Trustable than any other Apps. But centralized Apps are more user friendly.
- Cost of Development: Unlike centralized Apps that will have to consider the cost of maintenance, cloud fees and so on. But dApps developers don't have to consider such things due to it cost are as follow development, deployment and upgrade.
- Usage Cost: In dApps it's users have to pay a little amount of money unlike the centralized Apps that are free to use. Sometimes users wonder why it is so . It is due to the the more complicated is the app the more the fees increase.
- Security: Iris quite obvious that dApps are more secured than the centralized Apps. Because of its Decentralized nature, makes them more secured and store records that not be changed and tempered.
- Speed: The centralized Apps are quite slow. It is said that they can transact 15 transcations in a second. But in the case of dApps it's Scalability is up to a thousand transactions per seconds in time to come. You can see that there are no sign of slow moment in dApps.
Everything we do on the blockchain has their Advantages and Disadvantages. dApps are not left out below I will be starting with the advantages of dApps.
- Easy To Control: Applications built on blockchain are always designed to connect other trading partners not withstanding if it is centralized. The organization involve must trust the host that is controlling the connection. But in dApps this problems are not found because it's pattern gives access to each party to run the app and don't need to trust a third party.
- Easy To Develop:Decentralized Apps make use of compound protocols to attain consensus. The more compounded it is, the greater abstraction that is made available for developer that are looking forward to apply specified business strategy.
- Safer Data: Decentralized Applications works on a shared database which duplicate information that is stored across all other nodes. This implies that, if a single node is hijacked, it doesn't stop the organization's ability to examine it's important data.
- Transparent Data: unlike the centralized applications that require's their users for their own data, dApps don't ask their users for their data due to dApps are on a public blockchain and the information cant be hidden.
- No Loss of Data: Information are automatically stored pamanently once it is added to the blockchain. This shows that dApps are more resistant to restriction.
- Open Source: All codes on dApps are transparent and can be views by anyone that wants to confirm what the developer's claims on what it does.
- dApps Infra is Difficult to Maintain and Develop: Every user on dApps needs to update their nodes software failure to do so, makes maintenance, debugging and updates harder on the system due to dApps runs in a complex environment.
- Slow Speed: Sometimes it takes dApps time load and also it takes time for payments to process.
- Lack of User Experience: In this case the dApps don't function as centralized app so it is hard to have the best user experience. For instance you can easily remember your username and password in centralized system but it is not so in dApps where you have your public or private key to cram off hand.
Presently on Apple store there are more or less 4.3million apps and 2.9million in the Google play store and they are increasing everyday. So it is quite difficult for users to know, and make use of your app on less you make use of the proper strategies to promote your App. Below are few tips to take in other to promote your App.
- Through A Website:You need to be present on website reason is because of legitimacy. The world needs to know if your app is what they want or the real-deal and that you invested your time in it.
- Through Social Media: With the way things are moving now social media is one of the easiest way to promote your app. There are two ways to promote your app on social media which is Organic and Paid. The organic method comes with having a presence on social media by creating an account and a page on twitter, facebook and instagram and have a target in a meaningful way. When the Paid method is where you pay to get your app promoted.
- Public Relations: In terms of creating buzz and credibility, media and influencer needs to consider press release, host a party or conference and invite media influencers have an interview with newspapers and bloggers.
- App Store Optimization (ASO): ASO is SEO of mobile apps. It is crucial for findability, oversaturated market. You need to pay attention to the following, 1) your app name 2) Keywords 3) Description 4) Screenshot/video 5) Ratings
- Search Ads: For example the Apple device introduced a search ads which is ment for Apple users. With this you you are able to offer a relevant keywords incase a user searches for a related keyword you app pop out first.
- Celebrity Endorsement: This where you pay a celebrity or influencer to help promote your App. There are quite opportunity for your app to be know by your target audience.
- Through Traditional Advertising: If you have a brand with a physical location, it is necessary to advertise your App in your store by running a promotion to make users to download your App.
- Through Word of Mouth: Word of Mouth is another easier way to run promotion about your App. You need to make sure that your App marketing is on point and your App needs to be good because users expect to have a high personalized App experience. If a users uses your your App and found out that it is very nice the user will testify to his or friend the process continues.
What we need to know about dApps before we make use of it is the high rise involved in it. Which I will be stating below.
SourcePromising you of high returns and little risks
Having difficult times to pullout your token
Referring the app to someone and get rewards with tokens
Saying that they are working with popular Exchanges and Wallets
They declare to be transparent and fully decentralized
To get the information that we need on dApps are quite easy to get. Below screenshots are steps to take so as to get the desired information.
- Visit your website and search for dapprader.com
- locate the menu button with three dash line at the top right corner of the homepage and click on ranking
- An interface will display showing u numerous dApps and their ranking.
Then click on your preferred choice. I will using the pancakes as an example.
The screenshots above shows some vital information we need to know about Pancake Swap. Total Value, the price of Pancakes, the market cap and the statistics of pancake swap. With the chart you can able to check the previous price of Pancake Swap.
Blockchain has come to stay and it is changing from time to time. It has brought ideas to so many industries and makes industries to have new services and capabilities. Decentralized Applications are one the invention of the blockchain. It has offer open-source software that is well secured for users and business. As dApps keeps growing, more innovation are been introduced and not only that it is always necessary to know and understand the good and bad of each apps and technology that we make use of.
Thanks to @wahyunahrul for this great lecture I must say I learnt a lot in the course of writing this assignment.
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