Dapps (Decentralized Applications) Explained
Hey again buddy, how are you doing today?
I’m sure you have been waiting to hear from me and you’re probably wondering what I’m gonna talk about next?
Well, I’m here today to talk about Dapps.
Just like DeFi that we talked about a while ago, Dapps are;
Decentralized Applications, mean apps that aren’t governed or monitored by authorities and it uses blockchain technology to protect users data. Just like Cryptocurrencies are decentralized money, Dapps are decentralized apps.
Dapps are just like the conventional social network, games, entertainment and other apps.
Currently, most Dapps are designed to help users access decentralized finance (DeFi) and that’s because Financial organizations are one of many sectors that has fully on-boarded the Web3 space. This is widespread that the Ethereum network white paper categorized Dapps into “financial”, and “semi-financial”.
However, Dapps can also apply to almost any industry, such as gaming, medical, agriculture, governance, and even file storage. As a result, Dapp usage is almost no different from traditional applications. Meaning, users benefit from all the changes on the backend (decentralization), the actual experience should be the same.
One of Ethereum’s primary goals was to make Dapps easier to create and they run autonomously once launched. Dapps run smoothly and keep user’s information and personal data away from authorities with the help of Smart Contracts.
In conclusion, most of the topics about Web3 are all linked to one another and one can’t exactly function without the other. This way of interacting with applications is considered Web 3.0, also referring to the decentralization of information.
My beautiful and lovely wife, Patricia says hello.
I’ll see you in the next article.
References
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