Learning with CyClean: What are Decentralized Apps?
Welcome to the start of another week with CyClean. CyClean’s ICO is officially happening, so visit our website for more information if you don’t want to miss out! While the CyClean team likes to talk about the strengths of our platform, we also think it is our duty to tell you guys more about blockchain technology. After all, it is the foundation of CyClean’s project.
Today we are going to talk about something called “decentralized applications,” or dApps (or DApps, as you may have seen online). A decentralized application is an application that is built on a network of computers instead of just one. dApps are programs that ensure that one single person does not control the application. Recently, as more dApps are built on blockchain, people are beginning to catch on. However, decentralized apps have existed before blockchain technology. You may have heard of P2P programs, such as BitTorrent and BitMessage. These are examples of decentralized apps where there isn’t one single controller of the application.
Decentralized Apps on Blockchain
Decentralized apps on blockchain must meet certain criteria to be considered blockchain dApps. First, they have to be open source, where the users make decisions based on consensus. There mustn’t be a single entity that holds the majority of the tokens, and there isn’t a central authority. Second, everything on the app must be cryptographically stored on a blockchain. This is essential because there cannot be a point of failure that is typically observed with centralized apps. Third, there is a token. In order to reward miners who add value to the app, there must be a token. Finally, the app must generate tokens similar to the way Bitcoin’s proof-of-work algorithm yields Bitcoin.
Starting a dApp
Any application fulfilling the previous requirements is a decentralized app. dApps typically follow another four-step development process. First, the whitepaper is released with an idea or an actual working prototype. Then, a token sale is set up, and the ICO is launched. This allows for the distribution of tokens for ownership. Then, funds are used to build the app.
Examples of dApps
Many cryptocurrency projects are dApps. Here are an example of some:
· Augur: prediction market platform built on Ethereum
· Factom: record-keeping application with its own blockchain
· Siacoin: decentralized cloud system with its own blockchain
· Golem: computer power system built on Ethereum
These days, we are witnessing the rise of dApps and the plethora of ideas that come with them. It will be interesting to see these ideas come into fruition and the changes they bring to our world.
CyClean is not currently a completely decentralized application, but CyClean will move forward as a transparent blockchain project that aims to develop into a decentralized app.
[ For more information about CyClean, please visit our website at cyclean.io ]
