What is a decentralized application?
Also known as “Dapp” decentralized application is a computer application that runs on a distributed computing system. They are distributed by Ethereum and Blockchain and provide services similar to those offered by typical consumer applications. Dapps users gain more control over their finances and personal data since they don’t have to trust anyone else to store and secure the information.
Furthermore, the technological adaptation of the bitcoin blockchain today is an upgrade for privacy, smart contracts and decentralized finance. In this way it allows you to take the steps that many were waiting for and seek stabilization even in a period of uncertainty like this, affirming the evolution of new horizons in the management of your portfolio and of the entire economic chain.
Examples of Dapps are bitcoin (technically the first Dapp), Golem, Augur, Melonport, and Ethertweet. Different types of Dapps are class classified based on whether they have their blockchain or they use the blockchain of another Dapp:
Type I, Dapps have their blockchain, like Bitcoin.
Type II, Dapps use the blockchain of type I Dapp and have tokens necessary for their function.
Type III, Dapps use the protocol of a type II Dapp and have tokens necessary for their function.
In conclusion, Dapps operate as an operating system such as Windows with a type I classification.
What about NFTs?
NFT stands for non-fungible token and is considered a digital asset that represents real-world objects like art, a song file, videos, or your computer. They are bought and sold online, frequently with cryptocurrency. NFTs have been around since 2014, but now, more than ever, are gaining lots of notoriety because they are becoming an increasingly popular way to buy and sell digital artwork. An NFT works through Ethereum cryptocurrency’s blockchain, a distributed public ledger that records transactions. Here are some examples of currently available NFTs: A digital collectible, domain names, games, sneakers in fashion line, essays.
Of course, it is possible to buy an NFTs and what you will need to make it possible is a digital wallet that allows you to store your NFTs and cryptocurrencies. You need to purchase some cryptocurrency, most likely Ether. You can use platforms like OpenSea, Coinbase, PayPal, Kraken, etc., to buy cryptocurrencies. And finally, you will be able to move it from the exchange to your wallet of choice.
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