Crypto Academy / Season 3 / Week 7 / Homework Post for Professor @wahyunahrul

Hello everyone.
I am Taiwo Micheal with username @msquaretk. It is another week in the crypto academy. The past six weeks have been awesome, full of experience here and there. Thanks to all professors who have been taking their time to teach and to the entire steemit community.
It is my pleasure to submit this homework task to Professor @wahyunahrul. He taught "Decentralized Apps (DApps) - Future Apps From Blockchain System". And it's really an eye opener. Thank you, Prof.
At the end of the lecture, Prof. asked five questions. The questions are:

1). Will DApps be able to replace centralized applications in other fields in the future?
2). Is there a possibility for DApps to steal user data?
3). Explain the ways in which a DApp promotes its application to the public?
4). Choose a DApp and do a detailed analysis that proves that the DApp is a good one to use. (Provide proof with screenshot).
5). 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.

So I will be attending to these questions one after the other.

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Question 1

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

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DApps simply means "decentralized applications." DApps, as time goes on, will replace centralized applications in future.
Centralized applications are applications where by the data of users are stored and monitored by a central system. This central system has control over the users, they have set rules and regulations guiding the use of the App. Users can be removed or blocked if he violates these rules. The central system has power and authority to link the data, sell the data and give the data to whoever he asks for it, e.g government.

Decentralized applications are applications that have no central system controlling the affairs of the activities being performed on the application. In decentralized system, every user has say over the affairs of the activities. They are often reffered to as a peer-peer system. A system where no one governs, but every body rules. In decentralized applications, everybody plays equal part in monitoring and controlling the affairs of system.

There are many things which show that decentralized applications will soon replace centralized applications. In the early days, people believe that the best system is centralized system where there will be third parties between the buyers and sellers. These third parties often dictate for them. For example, conventional banking system. When you want to send money to another person, bank acts as s third party between you, the sender and the receiver, they have their terms in which you must agree to. You can't use their service if you aren't ready to agree with them. These third parties often take advantages of their customers. They may do anything without telling their customers reasons for doing it. This is one of the challenges of centralized system. Decentralized system is not like this. This shows that, soon decentralized system will replace centralized system.

Further, decentralized applications are very fast compared to centralized applications. For example, when sending money to someone through centralized finance App, it may take days before the receiver sees money. This is a big problem. A body has sent money to me through my conventional bank that the money took 5-working days before it landed into my account. I couldn't use the money for what I wanted to use it for. But decentralized is not like that. It is very fast.

In addition to the points given above, transactions fee in centralized applications which are used in finance are very high. Whereas transaction rate or fee are very low in decentralized applications. This is also a sign that decentralized information will gain ground as time goes on.

DApp are so unique and will replace the Centralized App as time goes on. It's pertinent to know that DApp can't block users like centralized App. The central system controlling the centralized applications can do anything they like, but nothing like that in decentralized system. Even, government of a country can ban his citizens not to use a centralized app. For example, just this year, the government of Nigeria banned Twitter in Nigeria. No citizens can use the App. If it's a decentralized App., it would not have been possible. Many people who make their daily bread on twitter grumbled and did lots of things but there's nothing they could do to it. That's centralized system. They can take any action without giving reasons for their action.

Decentralized applications will be very useful in many sectors since the data stored on it is very transparent. Unlike centralized Apps. This means people will soon adopt the use of DApps while neglecting that of centralized App. For example, in politics, DApp will be very useful. Everybody will see votes and they will be able to count vote themselves. Also, in hospital, the records of patients can be put on DApp and anybody can see the details. If there's doctor who can operate a patient with a kind of diseases or sickness, he will see and he can request for the patient.

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Question 2

Is there a possibility for DApps to steal user data?

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Well, this question has two sides. Hackers may hack the system and steal the data but it is very difficult to do this. The reason is, decentralized applications use the system that blockchains use too. DApps use consensus mechanisms with high level of security. But in the world that technology is advancing everyday, people are still looking for ways to get in to systems which seems unhackable.

It should be noted that thieves enter where there's lack of security. DApps can be hacked if the security of the system is weak. Hackers may find a way to enter especially if the DApp is very very weak in security. However because DApps is on blockchain network, they usually have maximum security and very highly protected.

It is also pertinent to know that hackers may take advantage of users to steal their data, then this doesn't have to do with DApp, it is as a result of of careless of the users. Most of the times, password which are often in form of "keys" can be linked to the hackers as a result of careless by the users. This may lead to stealing their data and even access to their funds. Recently, I have heard of people complaining about how their accounts were hacked and their funds syphoned by the "dark men", called hackers.

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Question 3

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

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Like I said earlier, DApp means decentralized applications. DApp promotes it's applications through many ways. Some of them are explained vividly below.

Through Websites.

This is one of the ways in which DApp promotes their applications to the public. It is should be noted that it is not just any website, it must be website which have their targeted audience. Such Websites should include websites which deal with cryptocurrencies and decentralized systems. Examples of such websites is coinmarketcap. Coinmarketcap is a website where the you find information related to crypto assets. Another example of this website is Coingecko. These websites will be one of the best ways by which DApp can promotes their applications.

DApps Main Website

Another way by which DApps promotes their applications is through their own main websites.

Through IDO/ICO

This is one of the ways DApps promotes their App. Most DApps have their own token and they usually organize an event called IDO, meaning Initial Dex Offering. It is an event where the organizers of the tokens do a kind of fundraising for the tokens. At this event, they sell the token at a very low rate which will make every body invest on the tokens. This actually makes people to be aware of the project and makes the token and DApps known to them.

Through Social Media Platforms

Since majority of people uses social media, DApp promotes their application through this means. For example, Facebook, DApp may create page on Facebook and drive traffic to their page. Social Media such as twitter, Facebook etc are a good way DApps use to promote their application to the public.

Through Partnerships

This is another strategic way by which DApps promotes their applications to the public. Some DApps partners with some organizations who have add names so when the public sees that they have partnered with the these organizations they will use their App.

Forums

DApps promotes their Apps through cryptocurrency forums. There blog pages where the crypto lovers interact, these pages are best places where DApps promotes their App. Examples of these forums are , Reddit, Crypto in Talk, masterofcrypto.com etc.

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Question 4

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

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Let's begin. To choose for a DApp, I will use DApp radar website. To do this, use Google to search for the official website of DApp radar. Click on the first result as shown in the fig. below.

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_{Google Searching the Official Website of DApp radar}

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Upon clicking on it, the website of the DApp radar will open right in your front. On the homepage, you will see a drop down menu at the top, click on it. Once you click on it, pop up features will appear, click on "ranking." Below is the homepage of DApp radar.

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_{DApp radar Homepage}

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Then, upon clicking on the "ranking", the list of DApps will appear according to their ranking. You choose any DApp you wish. But for this task, I'm choosing PancakeSwap. It is the second in ranking on DApp radar.

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_{DApp Ranking}

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Click on "PancakeSwap". Once you click on it, a page will load showing details of the DApp. Click on "Open DApp"

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_{PancakeSwap DApp}

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Then you wi be launched to the main website of PancakeSwap. Now for decentralized Apps, one needs to connect wallet to DApps. So, on the homepage, you will see "connect the wallet." Click on this in order to connect your wallet.

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_{PancakeSwap Homepage}

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On clicking this, you will see some types of Wallets such as metamask, binance chain, trust-wallet etc. which have partnered with PancakeSwap. Click the wallet you wish to connect with PancakeSwap. You can click on more to see the list of these wallets. But for me, I will connect my trust wallet. So, I clicked on trust wallet.

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_{List of Wallets that can connected to PancakeSwap}

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As soon as I clicked on "trust-wallet", a pop notification shows telling me to allow PancakeSwap to have access to my trust wallet.

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_{Notification to Allow Pancakes Have access to Trust-wallet}

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As soon as the it's allowed, the PancakeSwap will have access to the trust wallet in order to connect to it.
Below is the screenshot showing that the wallet has been connected to DApp, PancakeSwap.

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_{Trust wallet Connected to Pancakeswap}

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As it can be seen in the figure below, the wallet is showing. You can disconnect the wallet by clicking on "disconnect."

_{Wallet Connected to Pancakeswap}

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You can copy your wallet address by clicking on the wallet. Once you click on it, it will display the address.

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_{Wallet Section of Pancakeswap}

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At the the left side of the Pancakeswap are some important features of the DApp which makes this DApp good to use. Let's see these features in the screenshot below.

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_{Pancakeswap Features}

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We can see trade, (with exchange, liquidity, LP migration), pool, collectibles etc. This features are very important features in the DApp.

For example, the trade feature. You can swap token here. Let's see the image below.

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_{Pancakeswap Trade Features}

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Also, the farm feature is also one of the important feature. People can stake their LP to earn.

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_{Pancakeswap Farm Liquidity Features}

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In the pool feature, users can also do staking. They can stake their tokens here, too to earn with a low risk

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_{Pancakeswap Pool}

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The collectibles feature is also there. This place provides some tokens which can be used and traded by the users.

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_{Pancakeswap Collectibles}

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Pancakeswap is good to ise because of these amazing features it has. It is ranked number 2 in DApp radar. Also it has its own native token. It supported many wallets such as trust wallet (which is the one I connected to it), metamask, binance chain, chain wallet etc.
It therefore very important to know that Pancakeswap is one of the good DApps .

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Question 5

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.

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In my community, I have noticed that farmers work tirelessly to cultivate farms and product agricultural produce. The produce which they often use their swept to produce are sold cheaply. They don't make good profit from what they sell because of the intermediary between them, the sellers and the buyers.

It's the middleman between these people that even gain much. The Farmers are not opportune to relate directly to the buyers. So the middleman dictates whatever amount he wants to buy the produce.

This problem can be solved by the use of DApp.
So, if I were DApp developer, i would like to create a DApp that would solve this problem. So the name of my DApp would be Green-DApp.

Detail of the DApp Plan

The very first to do is to know what which App I want to create and the reason for creating it. This will enable me to clearly define my aim and objectives.

1. Problem identification.

I have already seen the problem which is that , the Middlemen are cheating the farmers.

2. Aim and Objectives For Creating "Green-DApp"

The reason I want to create this Dapp will be my propeller. Since i have identified the problem, then, I can list my aim and objectives.

• To create a secure and reliable DApp where buyers and sellers can be relating directly with each other without any middleman
• To use Cryptocurrency as a means of exchange on this DApp

These aim and objectives will be what will guide me on what I need to do next.

3. Data Analysis and Survey

Data Analysis may mean gathering of information about farmers to know details of some important things which will help in creation of the DApp. This may also help to know how large the DApp should be. This may be inform of survey.

4. Cost Analysis for The "Gree-DApp"

Cost analysis is one of the most important aspect of this plan. I must be able to know how much it will cost to build a very secure and reliable DApp.

5. Building of Technical Paper

This is another important parameter which must be done as early as possible. Technical paper is a white paper showing how the project is going to be from the start to the end. Once people see what they can trust, they will support the movement. So, I will make sure I make the paper detail enough.

6. Campaign

This will often follows the creation or building of the technical paper. Once the technical paper os ready, the I can go on with campaign. The use of social media, cryptocurrency forums and other sources will be very helpful for this campaign.

7. Building Phase

This is where the real work is. The data and information gotten from Data analysis stage will be useful here. Data analysis and survey will often help to know some features which will be very important to be put in the "Green-DApp." For example, feature such "delivery method" will be one of the very important features which building "Green-DApp."

8. Testing Phase

This phase is also important. Testing will help to know if there are other things which need to be added. It will tell how the App. perform.

9. Launching

This is the final stage of the plan. Thanks launching will take place on the official DApp, "Green-DApp" page.

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Conclusion

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Decentralized applications, (DApps) have been found useful on every aspect. It is the applications in which there's no central system controlling its affairs. DApps is very unique because everyone, that the users have the equal right in the decision making.

Decentralized applications, if it can be adopted by organizations, government, would solve so many issues. Centralized applications can block people without telling the reason for doing so. Further, because DApp use blockchain network, it is very secure. So maximum security will be guaranteed.

Thanks to Prof. @wahyunahrul for the teaching. I have been able to learn how to see the ranking of DApp using DApp radar, and I habe also learnt to connect my trust wallet to Pancakeswap.

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