Repost of my uncurated expired post/Steemit crypto academy season4// beginner's course-task8:Decentralized applications(dApps) with professor@wahyunahrul
My beginners task 8 expired today without being curated.
It was reviewed and score by prof.@dilchamo
Below is the link of my expired post and the screenshot of the marks i got.
@steemcurator01
@sapwood
@dilchamo
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Task8-question1
- 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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When talking about dApps which is an abbreviation for decentralized application, you must first understand what a decentralization means to help get a better understanding of a decentralized application. looking at decentralization, it illustrates a structure that circulate power or control among individuals instead of giving power to a single or central authority, with this we can get a fore knowledge on what dApps are.
A dApps are digital applications that are built on blockchain network or we say, there are program that runs on a decentralized computing system.
Because this application are decentralized their operation is maintained by a distributed network of a computer nodes which is not so for a single server.
A dApps is a program that is completely an open source, that is to say, when a non decentralized application are operated on single computer network, a dApps are run on decentralized system network or peer-to-peer network of which there is no central control or authority. With this,everyone has control and freedom to perform any transaction without any interface or third party.
Lastly,dApps are application which runs a peer-to-peer system of network which means that, users has their role to play in running and sustaining the application by providing the computing power necessary to keep the network running to motivate them, there are always compensated with a token native to the platform.
Explain the working system of dApps?
Decentralized application have their own backend code called the smart contract which runs on a decentralized network unlike the centralized application,this backend code call smart contract are like rule that runs in a blockchain for all to see and operate according to this rules.
This decentralization application uses a smart contract or something call ledger to record all transactions personally without the need of human help,with this it wouldn't required a third party to control transaction which will aim fast and cheap transaction.
The decentralization are run on a peer-to-peer network, which will require the users to play an important role in running and sustaining the application. It also uses an open source software that is very secure by this, the are link to a ledger where all transaction are stored in an open source system which mean that dApps has nothing to hide, Everything is open to it member and all information are available on the blockchain for user access.
What are the differences between dApps and other applications?
S/N | DApps | other applications |
---|---|---|
1. | DApps are decentralized because they are control by logic written into the smart contract. | While, other applications are control by an individual or company. |
2. | DApps runs a transparent and open source system.By this, informations are recorded on a public ledger where all users can access. | while,other applications runs a close source system. |
3. | In dApps, user are in control or ownership of their data and assets making it difficult to fold up | while in other applications, data are control by the central authorities or the application developer. by this there is no privacy of data in a non decentralized application. |
4. | lastly,In dApps user usage and transactions cost is low. | While in other applications usage cost and transactions is high. |
Explain the advantages and disadvantages of dApps?
Advantage of dApps
- Decentralized application are more reliable and trusted by it users because of the ability of the users to get full control and ownership of their data and asset.
- Decentralized application doesn't need any third party to aim transaction by this it aids transaction fee to be less and cheaper
- Decentralized system are more safe and secure in terms of malicious attack unlike the centralized application which are very easy to attack cause all the do is to attack the central hosting server.
Disadvantage of dApps
- In decentralized application there is no central authority this becomes difficult to built the application cause the won't be someone responsible for verifying user identity or doing KYC verification.
- It always difficult to fix issues in decentralized application because if you intend doing so you need to instruct all peer or users in the network to update all the copies in the network.with this, it will be a very difficult task.
- Decentralized application needs some complex and hard protocol to achieve the consensus.
How can dApps developers promote their apps?
Firstly, the developers need to conduct an advertisement of his dApps in social media platforms. On the content of this advertisement you should be able to catch the people's attention by telling them how important and beneficiary you dApps his. with this you can attract more audience to join your dApps.
Introduce something like a short free version of the dApps, someone might want to give a try of what the dApps offers from there if he like it he can proceed to getting or purchasing the full version.
The developer can introduce a giveaway strategy, were by it will be giving it user some free benefits, from there it user will testify to another person in a way of introducing the person to the dApps in other to benefit too.
What should we pay attention to when using dApps?
A decentralized application consist of some feature and benefits which we can pay attention to. looking at it,we can pay attention to how the decentralized system works, the high security system there are consist of. how beneficial it his to us the users, lastly we should pay attention to it fast and less fee charges for transaction.
How do we find the information of a DApp that we want to know? Provide the steps (Screenshot required).
step1
Log on to coinmarketcapwith your browser.
Current price | $24.51 |
---|---|
Rank | 11 |
Market Volume | $602,880,098 |
Marketcap | $14,997,562,717 |
Full diluted marketcap | $24,520,095,822 |
Step2
Visit dappradar
Click on the setting box as indicated on an arrow line below.
step3
Immediately after clicking the setting box a list of options will appear the you click on ranking as indicated below
step3
After click on rank the list of options will appear you then proceed by clicking rank1, which is pancakeswap.
step4
After clicking on pancakeswap some pancakeswap information will appear as seen below.
Tvl | $9.54B |
---|---|
ATVL | $9.08B |
Marketcap | $9.66B |
Token | cake |
Token price | $21.43 |
CAP/TVL | 1.01 |
step5
Then you can now click on open DApps as seen below.
Finally can now trade(buy and sell) your coin.
Once again, thanks to prof.@wahyunahrul for the well explanatory lecture,it has been a nice a time going through this task.
Noted.