REPOST : Crypto Academy Season 5 Beginners' course - Task 8 : [ Decentralized Applications (DApps) ]
Hello Lovely People
Hope you're all doing well. Today I'm going to present my homework which is about Decentralized Applications ( DApps ).
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?
Decentralized applications or DApps are the product of the development of Blockchain technology, which manage a Decentralized system. These applications are tools that are not managed by any organization and allow users to communicate directly and without intermediaries. All of this makes them very popular and as a result more and more users want to use them.
They are the ultimate product of the development of blockchain technology, which manages a decentralized system. DApps is a category of applications based on computers and computer decentralized networks. To keep all information secure, all generated data is stored in the said computer network.
Types Of DApps
- Type 1 : It has its own chain of blockchain blocks, they do not rely on anyone else to implement it, an example of which is Bitcoin, the first blockchain DApps.
- Type 2 : These DApps do not have their own chain of blocks, depending on the blockchain of Type 1 dApps, they use tokens of the chain where it is working.
- Type 3 : It uses the Type 1 and 2 dApps protocols, the most widely used at the moment, as described earlier, ideal for developers to innovate new applications.
Characteristics of DApps
Application data is stored in a public blockchain.
DApp is open source, which means they are available to everyone, so when a change is made, it should be mostly through centralized source code.
You need to generate tokens using a cryptographic algorithm. This requires confirmation of the system's customer support.
Data handled by dApp is always in the possession of the user. They do not store information in search engines or external servers.
They handle a high level of security, because Dapps have the same level of security to which they belong.
The reason they are unique is that they are not manipulated by central agencies or intermediaries, which give each user the property to manage their own dapps and take responsibility for their own actions.
DApps work with blocks within a chain of blocks, where nodes and specific data are distributed across multiple devices, which means that at the time of transaction confirmation or There are mistakes in the consensus process. Don't affect the whole network in general.
Explain the working system of dApps?
Dapps work automatically, that is, the nodes inside the blocks store information, data, hashes, miners verify these transactions and thus with the previous data and with their own new hash build blocks. This system of work is not confined to a single device or network, but is connected and distributed across thousands of computers and devices. All this means that large backups are protected, which creates more security and makes them an impossible manipulation.
The middle ground for verifying every interaction is smart agreements. All nodes are updated when a new operation is performed in DApp. Smart contract is the basis of dApps which allows two or more people to reach an agreement under certain conditions, when they are defined, smart contract executes automatically and independently with the help or link of the contract smartly the dApps will connect to the blockchain.
Their purpose is to eliminate a mediator, created by natural and legal persons or by automated machine-operated programs.
The DApps are advancing expeditiously because operating on a decentralized network provides security, privacy and anonymity to the user, guaranteeing that the data used by dApps is accessible only to that user. Who has created the information and is allowing it to maintain complete control. That being the case, when a user uses Dapp, his transactions and actions are under his responsibility.
What are the differences between dApps and other applications?
| DApps | Apps |
|---|---|
| They work with the decentralized system. | They work with the centralized system. |
| They have a high level of security. | They are at high risk of computer attacks. |
| They have smart contracts. | They do not have smart contracts. |
| Decentralized application speed is slow. | Central application speed is fast. |
| They are within Blockchain technology. | They do not have Blockchain. |
| Personal data is reliable and cannot be manipulated by anyone. | They ask for personal data that they can modify and manipulate. |
| They offer open source transactions, which are accessible to all customers and demonstrate transparency. | They do not offer open source, no one can prove the execution of the transaction. |
| They are low cost applications. | They are high cost applications. |
| They charge a small commission for the maintenance of the nodes. | The commissions to cancel are a little more expensive. |
Explain the advantages and disadvantages of dApps?
Advantages
The key advantage these applications give us is security, as it uses strong encryption.
The service is always available because it does not have a central server, but everything is distributed in nodes.
Data is not controlled by intermediaries, meaning everyone manages their own Dapps. Each user has their own network.
They are available anywhere in the world.
They can never be closed or disappear, when dApps are formed it lasts forever, this is how it is created more reliable for customers.
Disadvantages
In many instances, this slows down when a large crowd of people gathers in one DApps.
Configurations or updates that are implemented are slow, as they have to be verified from node to node.
Its inception is expensive and perplexing, it must go through a series of projects and tests. Because of this, you have to spend a lot of time and money to create it.
The user navigation and the interaction is usually very slow.
How can dApps developers promote their apps?
One of the most effective ways for developers of DApps to promote their applications is through Airdrop events. At these events, free tokens are given to users who join the applications being promoted. These events are a great way to promote DApps to the public. They can also be promoted through ICOs, IEOs and IDOs events.
Another way to promote these DApps is through social networks like Facebook, Instagram, Telegram, Twitter etc. Advertisements are launched on these platforms which show information about their features, functions and rewards. It should be emphasized that these are the decentralized applications of the future.
What should we pay attention to when using dApps?
We should focus on the features and operation of DApps.
There are many scams today and that is why we should pay attention to the important details that will guide us to choose the applications wisely where our data is safe.
We need to make sure that the DApps we use are highly secure and have the best consensus procedures. That transaction fees are lower, that their operating speed is good and that their functionality is maximized and with more user-friendly systems for more pleasant use.
Another momentous demeanor is that if we are going to invest in DApps we should keep in mind that the rewards are capricious, that is you can win but you can also lose. You don't want to be frustrated if you cannot get the right pitch. You need to make investments that you do not want to lose. Therefore, it is important to establish risk and benefit parameters.
Last but not the least that is, using DApps we are automatically responsible for everything that goes on.
How do we find the information of a DApp that we want to know? Provide the steps (Screenshot required).
The first thing we must do is place the following address in our search engine https://dappradar.com/
The second step will be to enter the upper corner of the page and click.
- Next we must click on the word Ranking.
- The fourth step will be to select the dApps of our preference in this case we select PancakeSwap, then we will click.
- We will be able to observe the statistics of PancakeSwap including its users, volume, transactions and balance. In the graphic format we will be able to observe the historical activity of PancakeSwap.
- If we want to verify the information of the seven days of this application we must click on "seven days."
Conclusion
Decentralized applications are the future and we must adapt to them. It is important to know DApps, their safety and reliability are sure to attract the attention of any user.
Thank you very much Professor @wahyunahrul for your valuable clarification on the subject.
Here is the Screenshot & Link of the previous post.
@dilchamo
@wahyunahrul
https://steemit.com/hive-108451/@princa/crypto-academy-season-5-beginners-course-task-8-decentralized-applications-dapps
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