STEEMITCRYPTOACADEMY SEASON3/WEEK7/ HOME-WORK POST FOR WAHYUNAHRUL/FUTURE APP FROM BLOCKCHAIN SYSTEM

INTRODUCTION

Before I proceed answering the questions it will be very important we get an overview on what DApps is all about, DApps is an application that is totally decentralized, it has some constituents like a back-end codes that operates on the network in a peer-peer Decentralized network. On DApps the possibility of a user inter-phase isn't inevitable as it creates an end code for the backing of some relevant operations performed.

source

DApps is totally decentralized that means it doesn't require any form of a central authority/government to function fully, here users can interact with providers in a clear terms, now let's put it in a proper perspective now let's say I'm a developer I can decide to create an App which is like a twitter App and I include it on a block-chain any person can put up a message there, now if it's done eventually you will find out that that message cannot be deleted by anyone not even the developer itself.

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

I think yes, it's very possible in future me reasons are very genuine, firstly DApps creates an end-to end that backs certain operations so if that gesture is taking into consideration in future as a result of a centralized application I think I will be more Splendid, and it will add extra value to the centralized application, let's talk about some important features it has and it can as well as being forth to a centralized application in future.

Issue of smart contract; if smart contract is initiated into a centralized application you will find out that the various programs in there will be fully controlled by great logic, and the smart contract will totally be controlled by execution of DApps.

There will be Transparency; transparency is key in everything we do from time to time, in this case the various data we use will totally be in a safe and secured axis. DApps assists in the provision of total transparency, and trust, here if DApps is able to replace a centralized application you will find out that data will be secured and very much accessible to everyone.

There will be total privacy; privacy is what we need in our day to day life time, so I guess if DApps replaces a centralized application privacy won't be subjective, now while deploying a DApp you can't be mandated to providing your accurate identity by so doing your privacy in one way or the other is totally guaranteed, on like in the centralized application where your identity is sometimes compulsory.

Now let's take for example I open a Facebook account, and I'm using a white man's Picture chatting you will find out that in subsequent time my account will be blocked by the central authority the developer here. But with the application of DApp your privacy will be Splendid.

Data integrity; if DApps is replaced by a centralized application you will find out that data used will be immutable that means there is total limitations of third-party, so called fraudster's to gain access and thus steal away your data. So I believe in future when all this above men things are out in place, DApps can replace a centralized application.

Now let's look at the both and the differences that exists between then

source

Is there a possibility for DApps to steal user data?

DApps can't steal user's data simple because it operates in an open system and it's been built on a blockchain, which is controlled by blocks and nodes so it will be extremely difficult for data to be stolen, codes are galvanized more like smart contracts, it controls the back-end of a DApp. Data placed on a block-chain is very much open even the creator won't have access to it thus it can't be altered.

In a Decentralized application nobody can fraud anything, the privacy is super legit on like what we have in the centralized platforms where data has a source at which it's been controlled, it's more easier for someone to gain access to ones data in a centralized platform and thus do away with some vital informations, now let's take a Decentralized DApps like steemit data can't be stolen here because it is basically attached to a block-chain, here everything is basically totally secured.

Because DApps can't steal data doesn't mean that blockchain can't be hacked, blockchain can actually be hacked, and I will State how don't get suprised, ever since the inception of blockchain people have tagged it too secured and unalterable but here is will give you some ways in which blockchain can be hacked.

51% Attack; courtesy the verification process there are set of individual regarded as miners, there role is to review transactions and confirm the authenticity to know whether if they are genuine, let's say some fraudster's gain's access and controls some quarters of the mining process then there can be some negetive consequences.

If I'm a miners I can decide to create my own version of blockchain they call it blockchain fork, now let's say the transaction didn't reflect it will push the miners to create more Addictional different sets of transactions via the fork it will be seen as a legit version of the blockchain. By so doing double spending of cryptocurrency will come to lime light this 51% attack is pretty common on a smaller blockchain simply because it is usually difficult for miners to access great control over a bigger blockchain.

Errors during blockchain creation; sometimes there will be a situation where some security infractions will come to play during when blockchain is been created, this errors is basically very common on bigger blockchain's, when errors have be done hackers usually capitalize thus they will figure out vonurabilities and they will hit at an attacking spot.

Minor security; some blockchain Exchanges have been hardly hit by hackers in rescent times, there was a time Poloniex asked it's users to change their Email address courtesy some hacking infrastructions, remember user's trade cryptos on Exchanges, now let's say security in those Exchanges seems to be weak, hackers can gain access todata.

I have stated DApps can't steal user's data, but that doesn't mean that blockchain can't be hacked and data made away, from my explanations if a blockchain or exchange have weak security architecture then hackers can gain access and steak data.

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

Nice question here I will explore and Explain just that, now coming to making use of a Decentralized application, the various applications can be categorize based on the various scenerio it falls into. Let's look at some important ways here.

Fast and efficiency on Fiat dealings; this can be used to make money transfer very smoothen,
this serves as a way at which DApps promotes it's application to the public, let's say it took you 5min to carry out a transaction in a bank, and you decided to send a Crypto token through a Decentralized application and it took you just 3mins, through this gesture you can easily by your own self keep using the DApps blockchain simply because it is fast and efficient and your transactions are very much recorded and secured.

Business management; different companies today makes use of a Decentralized applications, it's very fast and reliable and it doesn't require the intervention of any human to process it. With the total help of a smart contract there is a cog courtesy the blockchain network.

for instance a security company can decide to use the DApps for keeping record of everyone who comes or resumes duty at any appointed time, by so doing their salaries can be collected there maybe in the form of a Crypto, since there is a smart contract between the buyer, and the seller everything is pretty possible.

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

Nice question but before you explore this visit daapRader official home page, to view the latest DApps click on the dots at the right hand side to view the latest DApps.

At the time or writting this post the first four DApps was polufunds, crypto-blades, Allen worlds, pancakeswap, moving downwards looking for the DApps I'm looking out for explor further.

• Here we have the top games and the top Defi, at the point of writting this post you can see their positions, when I was writting this post that was their stands.

• Courtesy the question I will do a total analysis on pancakeswap, it will be interesting trust me.

• We are here gaining access to the DApps I clicked on pancakeswap and I was able to open the DApp, after which you will have to connect your wallet,

• For it to be very much easier for you please download an pancakeswap and install it into your device, so that it won't be complicated for you.

• Here I clicked on connect wallet, another different phase poped up, all I have to do is to click on wallet connect.

• If you look critically well you will see that there is a room where the volumes, and balance of the Cryptos is showing, thats actually the current status at this particular time of writting this post.

• Remember pancakeswap operates on the Etherium blockchain, ERC-20, and it has so many tokens, including TRX, JST, ETH. All these Cryptos can easily be Exchanged.

• Now after clicking on wallet connect another phase will officially pop up, what we will do here is to keep on exploring

• I clicked on connect now at this phase I have successfully connected, my Etherium wallet to metamask, any token it features can be transfered to my wallet.

Exploring pancakeswap features

I'm done connecting wallets, now I will be exploring the features it comes with, pancakeswap has a low transaction fee comparing it to other's including uni-swap, and other too. If you want massive income then pancakeswap is your preferred destination, you can trade Cryptos here, your profit will be put into total maximization here.

SWAPPING

swapping comes as a result of Exchanging one Crypto for another, pancakeswap seems to be the destination of swap any type of crypto that you want we have different BEP-20 token for another Different token,

it should be very important we note and realized that pancakeswap runs on binance smart chain, it has a lower fee comparing it to the Etherium network. Before you can swap on pancakeswap you need a fee worth around 0.02% trading fee.

Here you can swap any coin of your choice, provided it features in the pool, trust me pancakeswap is the best place to performing your swapping, from the image I uploaded I was planning on swapping USDT, to other coin featured in the pool.

STAKING

Staking is just all about lending your token for a project, in reward you will earn massively here there are so many projects if you put in your crypto token into a liquidity pool, it will be determined on the APR you will go home with at the tail end of the year, the higher your token, the higher your APR, let's look at binance staking and that of pancakeswap you will understand that pancakeswap super-ceedes that of binance staking.

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.

I love this question, if I was to be a developer I will like to create a liquidity App, what do I mean by that I will create App, that will enable investors to put in their cryptocurrencies then I will shade it to been the reward you will earn will determine the quality and quantity of cryptocurrency that you have officially invested.

Then the App, will be liable for swapping from other cryptocurrencies of your choice, it will be fantastic because in the end you will get to benefit all round, the App will be centralize meaning it will be controlled by me. It will be similar to that of pancakeswap DApps,

One thing you should understand about cryptocurrency is that it is practically a means of making money, if not more money so if this App, is created you will find out that I will boost the economy stability of the value of the Cryptos that are been deposited.

it's market capitalization will increase as I have known if more people own a particular Crypto, trade on then it's market capitalization will gets to increase.this my own accessment.

CONCLUSION

• From my explanations courtesy this assignments you will understand the fact that DApps is an application that is totally Decentralized, meaning it isn't controlled by anyone.it has a back end codes that operates on the network in a peer-peer Decentralized network

• We have centralized and Decentralized DApps, DApps can't make away user's data because it operates in an open system let's look at the Decentralized DApps like steemit you will understand that it's totally Decentralized, but this doesn't mean that blockchain itself can't be hacked

• It can be basically if there is a low security on the blockchain Exchanges then hackers will gain access quickly, I could remember once Poloniex asked it's users to change their emails just to be free from scan at that time the App was really weak in tense of security

• DApps developer are great people doing wonderful work,bif I where to be one I will galvanized an App, that will allow liquidity pool, and swap ethics, I will create something that will really boost the economy. I will create an App that will add value to our people

• When we talk about swapping is more like getting a cryptocurrency in Exchange of the one we desire to purchase in the end we get it in real time frame, pancakeswap is a topical examples of swap and it habours liquidity pool, you can also do yield farming

Thank you very much professor @wahyunahrul, I really appreciate you really explained well, I love your post many thanks to you brother

cc;@wahyunahrul