27
Oct

Understanding Decentralized applications- Dapp

Internet is no doubt the unexceptional technological discovery today which has changed the way in which communication and information sharing are done. But still there are certain flaws in the internet technology. One issue is that internet users do not have a sole control over the data they share on the different websites. Ethereum designers have constantly worked to correct what is believed to be a problematic part in the internet design according to them.

According to Coindesk, it behaves like a decentralized appstore where it is possible for anyone to publish decentralized apps which do not require any middleman to function or manager the information of the users. These Dapps provide a direct connection between users and providers and a good example is a decentralized Twitter app. Once the message is published in the blockchain, no one can erase it, not even by the creator company of the micro blogging app. There is no central point of failure for the dapps and they are open sourced.

According to Ethereum White Paper, the Dapps are categorized into 3 types. These are:-

  • Apps which manage money
  • Apps in which money is involved
  • Apps which include voting and governance system

According to DUE, the dapp white paper suggests that, an application to be considered truly decentralized should have the following features.

  • It should be fully open source and should operate autonomously with no one entity in charge of the majority of its operation.
  • The protocol changes which are done for improvement of the system should be approved by all users in the system.
  • All its records and data should be stored in a public blockchain
  • Should have a native cryptocurrency for its blockchain system so that any future contributions with the miners for its value can be done.
  • Should be able to generate token or currency having a standard cryptographic algorithm.

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