Decentralized Applications (dApps) - Crypto Academy S4 - Homework Post for Task 8

Hello steemian ...

This is my new post in the the Steemit Crypto Academy Homework Post for Task 8, I will be working on a homework from professor @wahyunahrul with the theme "Decentralized Applications (dApps)”.

we will discuss it through the homework below:

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).

What are dApps?

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In this day and age, almost everyone is already using applications on devices such as smartphones, laptops, and others. And generally, all applications that are often used are regulated by the company that makes the application or the developer himself. Here I take the example of Instagram, Instagram itself is the most popular social media application today, the proof is that Instagram is ranked 1 on the Playstore with more than 1 billion downloads.

But not everyone knows that all the activities we do on Instagram will be recorded and will be stored by Instagram, and at any time the Instagram party can access our data easily. With a system like that example, we lack privacy for ourselves. Applications with systems managed by developers or the like are usually referred to as Centralized Apps. The opposite of Centralized Apps is Decentralized Applications or commonly called dApps. As the name suggests these dApps are decentralized applications where these dApps give everyone the freedom to run applications without being regulated or supervised by the institution that developed them.

Explain the working system of dApps?

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DApps use a peer-to-peer (P2P) network which means that there are no third parties in carrying out activities on dApps, dApps do not need a third party to use them because dApps use smart contracts. In a centralized application, all activities that we do will be recorded by individuals in their records, because dApps use smart contracts, all activities that we do on dApps will be recorded automatically without anyone controlling it. These DApps also operate using the ethereum blockchain technology.

What are the differences between dApps and other applications?

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There are so many differences between dApps and other applications, but some things that are visible are:

• Security: from the name, dApps are applications that implement a decentralized system, which means that the application is not supervised or controlled by the institution that created it. All of our personal information in these dApps only we know, which causes these dApps to have high security from attacks by irresponsible people.

• Low costs: Centralized applications use third parties in their user activities which cause the costs we incur when conducting transactions will be greater, one reason is for the salaries of their workers, but because dApps do not use third parties in activities such as sending money and so on causing high costs. we issue will be cheaper than centralized application.

• Transparent: all the activities we do on these dApps are transparent, which means that everyone can see the activities we do on the blockchain, of course, it is different from the centralized application which means that all the activities we do are not transparent.

Explain the advantages and disadvantages of dApps?

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Advantages dApps :

• The costs incurred when making transactions are cheaper due to the absence of third-party intervention.
• It has high security which makes these dApps more difficult to penetrate by people who want to commit crimes.
• All data residing in dApps cannot be manipulated.
• All funds that we have on these dApps are fully controlled by their owners.
• All transactions made on these dApps are transparent and recorded on the blockchain.
• These DApps are stable and easy to access.
• These DApps cannot be restricted because there is no single authority in dApps.

Disadvantages dApps :

• Because dApps do not use a single authority, when we make a wrong transaction such as making a transfer, our funds cannot be returned.
• Verification on dApps is more difficult than centralized applications.
• If you lose your account due to forgetting your key, your account cannot be returned.
• To update dApps is more difficult because all users have to update too.
• Because dApps have a high level of security to be penetrated, fraudsters take advantage of the system used in these dApps by pretending to be buyers, sellers, and others to commit fraud.
• These dApps use a complex system which means that they need expertise in using dApps.

How can dApps developers promote their apps?

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It's hard to promote apps these days, and here are some ways to promote dApps:

• The simplest way to promote dApps is by advertising on social media such as telegram, Twitter, and so on.
• Another way to promote dApps is by posting them on directories.

What should we pay attention to when using dApps?

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Many dApps can be used today for profit, but not all of them are trusted. To use dApps, we should pay attention to high-risk dApps. These high-risk DApps are fake dApps which means they are not decentralized. These high-risk DApps usually use the Ponzi scheme, they are almost like the usual dApps because these high-risk dApps are also able to give tokens and also get prizes like normal dApps. Therefore, we must be good at choosing the dApps we want to use, we recommend doing an analysis or research on the dApps we want to use to avoid high-risk dApps or we recommend using trusted dApps.

How do we find the information of a DApp that we want to know?

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To check which dApps you want to use, see the https://dappradar.com/ platform, here's how to check the dApps on the dappradar platform:

• First, open the dappradar platform on google, or press "the following link".

• In dappradar, we can check the ranking of dApps or directly search for dApps that we want to find information about. To see the ranking of dApps on dappradar, press ranking.

• Then just select the dApps you want to see the information about by clicking on the dApps you want to know the information about. In this example, I chose one of the most popular dApps, PancakeSwap.

• The following information can be viewed using the dappradar platform.

• We can use the above method if you are still confused about choosing the dApps you want to use. If we already know the dApps we want to search for, we can immediately search for them in the search section.

Conclusion

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With this lesson I know more about dApps, which at first I only knew about dApps, I learned more about the basic understanding of dApps, how the dApps system works, the advantages and disadvantages of dApps, and others.