Steemit Crypto Academy Season 4 Beginners' course - Task 8: Decentralized Applications (dApps) : Home work task for @wahyunahrul by @tripplem
edited with canva app
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?
dApps is the short term for Decentralized Applications. It runs on a decentralized, peer-to-peer network which no single organization has total authority. Unlike centralized apps where there is a central authority that oversees the affairs of the apps or platforms.
Because of its decentralized nature, operate on an open-source blockchain, without interference from any central authority, which allow mutiple participants to perform independently on a blockchain.
Decentralized app (dApps) uses an open-source system, which is an indicator that application codes which are recorded on the system can easily be accessed by anyone which prevents data manipulation and this is because each user can access all data recorded on the system.
dApp requires no superior authority to function.
The working system of dApps?
I will just say that dApp is the new era app that was developed to take over traditional/centralized app. DApps functionality is similar to that of Blockchain network whereby each user is represented with a node in the network, and is solely responsible for the network's functionality and operation.
dApps use smart contracts (ledgers) that digitally automatically record all transactions on the dApps without the need for human assistance unlike centralized apps (systems) where human interference is necessarily needed.
Smart contract is an algorithm that automatically executes an agreement between two parties eg buyer and a seller. They are programmable robots that self-execute when two parties' agreements are met.
DApps are safer, gives privacy, and anonymity more than centralized apps.
Differences between dApps and other applications
There are various differences between dApps and other apps but I will just mention a few in a tabular form.
| dApps | Other Apps |
|---|---|
| Transactions are done on peer to peer basis | a third party is required to carry out a transaction |
| There is no central authority | There is a presence of a central authority |
| Operates on blockchain | Operates without blockchain |
| High security level | low security level |
| High cost of building dApp | Costs lesser |
Advantages and disadvantages of dApps
There numerous advantages and disadvantages of dApps but I will mention 5 each.
DisAdvantages of DApps:
• due to the complex nature of dApp ecosystem, it is not easily accessible
• it is susceptible to hacking since it is an open source and smart contract nature
• resolution of problems in dApps is very difficult and in some cases impossible
• dApps requires a high level of intellectual ability from users. Meaning you need to be learned enough to be able to navigate dApps
• since users are not accountable to anyone, some may end up making bad transaction decisions which can be non-retractable
Advantages of DApps:
• very difficult to manipulate data in dApp
• dApps are stable. It does not fluctuate
• dApps has a transparent operation
• dApps operates with a very high level of security
• it does it have a single authority
How dApps developers promote their apps?
• through adverts: since dApps has not been globally known, developers can make use of centralized apps such as Twitter, Facebook etc to advertise their apps
• also through submitting their dApps to directories eg dappradar, dappclap ,dappbang dapp100 etc
• also through advertising their apps in social enabled decentralized systems eg steemit so that users can be aware of their apps.
What should we pay attention to when using dApps?
For me I think one of the things to pay attention to in dApps is your passwords. They are your Acess and if compromised will make you lose everything.
Also we need to make research about any dApp before investing because remember it is a decentralized app without a central authority and any wrong transaction cannot be retractable
Users should also get aware of High-risk DApps like Doubleway, Etherchain and Forsage they are not totally decentralized and transparent
How do we find the information of a DApp that we want to know? Provide the steps (Screenshot required).
Here are steps on how to get information about a dApp you want to know.
• Firstly you need to visit www.dappradar.com
All screenshots were taken from www.dappradar.com and edited with InShot app
I want to thank Professor @wahyunahrul for this eye opening lecture. I learnt a lot.
