Relating Blockchain technology with DApps

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Two days ago, I deliberated on DApps and its features. I explained DApps and how it works on smart contracts recorded on a Blockchain and how it ensures legitimacy and transparency in transactions executed and recorded data. How are Blockchain technologies and DApps related.

You may wonder how Blockchain technology is related to DApps. This is a breakdown. Blockchain technology is ledger technology distributed in such as way that records of data and transactions are secure, decentralized and transparent. It also serves as a foundation for DApps which leverages the properties of Blockchain as a whole to create innovative solutions that outrightly operates in a decentralized way, without Central authorities controlling its data or intermediaries . We have been talking about Blockchain . What really is Blockchain?

Blockchain: is a digital ledger consisting a series of blocks that are interconnected, each of these blocks containing a set of data or transactions. These interconnected blocks are linked through hashes that are cryptographic which ensures the transparency of information. Its decentralized nature ensures that no single entity controls the entire network thus, avoiding tampering and censorship.

DApps as discussed earlier are applications that run on these blockchains which operates on smart contracts with predefined rules. These smart contracts facilitate transactions automatically without the need for intermediaries. They are stored on the Blockchain to ensure transparency of transaction.

DApps have several advantages over traditional centralized applications which are;

• They promote decentralization and eliminate the need for centralization or intermediaries. It also provides a secure environment where users can interact directly.

• It enhances transparency in that, all transactions are recorded on the Blockchain

• Asides offering security through decentralized means, it uses cryptographic mechanism through hashes and algorithm, ensuring the confidentiality of data.

• It give users control over their data and digital assets and they have ownership over their own information unlike centralized applications.

• They have also enabled Decentralized Finance (DeFI) when users can borrow and also lend money without total reliance on traditional financial institutions.

Blockchain technology forms the basis of Decentralized Applications, offering decentralized and transparent ecosystem.

• Consensus Mechanism: DApps solely rely on this consensus mechanism to validate and agree on the state of network used. These consensus mechanism like proof of work, Proof of Stake and Delegated proof of stake to ensure its security.

• Data Storage is immutable: Blockchain provides a resistant data storage solution where DApps can store information like smart contracts and transaction history for transparency purpose.

• Smart Contracts: DApps utilizes smart contracts which enables automation and secure execution of transactions without intermediaries.

The types of blockchains for DApps development are EOS, Ethereum, Tron, Polkadot, Binance Smart Chain,

In conclusion, relating DApps and Blockchain technology are actually in line to ensure transparency and security of transactions and recorded data on the Blockchain. I'll be deliberating on Smart Contracts in my next post.

Disclaimer: Any financial and crypto market information provided in this post was written for informational purposes only and does not constitute 100% investment advice. It's just basic knowledge every crypto trader or investor should have.

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