What Do DApps Need to Be Successful?
You may not be familiar with DApps(Decentralized Applications); they are similar to traditional applications but running on a decentralized network. DApps are currently not much popular, but they are getting more and more attention and its market is also growing
The idea behind a decentralized application is open-source, meaning that the app has autonomy, and the majority of users decide every change. DApps, as the name indicates, have to be decentralized.
There are hundreds of DApps right now. The majority run on top of existing platforms and blockchains, most notably Ethereum. The Ethereum network has been home to hundreds of DApps, but other platforms are also gaining much attention.
Types of Decentralized Applications
As DApps become more and more famous, they also start to be more and more innovative., but certainly, one of the biggest niches for DApps has been games and gambling. One of the most popular decentralized applications is CryptoKitties, an online game about collecting breedable ‘crypto kitties.’ This DApp was created back in 2017 and was built on top of the Ethereum network. The game itself is a decentralized collectible game where you can exchange, breed, and sell unique kitties.
The game uses the blockchain technology to allow users to own their cats to a 100% degree. Any kitty created on the DApp cannot be replicated, destroyed, or taken away as it is locked inside the blockchain.
When it comes to financial applications, the most popular are definitely decentralized exchanges(DEX). DEX’s appeared as an alternative to centralized exchanges. They are far more secure as they do not store your private keys anywhere. On the contrary, there have been numerous attacks on centralized exchanges, and some of them have been quite successful in stealing millions of dollars in cryptocurrencies.
Gambling has been by far the most popular category not only in DApps but cryptocurrencies in general. Crypto gambling is also usually more secure than traditional gambling apps and websites as they use what’s known as the ‘provably fair’ system. This system allows the players to check whether their bets were fair and random.
Other applications for DApps include social media and content distribution, supply chain management, automated payments, voting, and many more.
What Are Some of the Problems Encountered by DApp Developers?
The decentralized application seems to be a great choice, but it is not used by everyone and everywhere. If traditional applications are fast runners, DApps are like those standing on a starting line about to run. That is, DApps need more development and growth to be used much more and widely.
The problem is that the technology itself is new, and there are still many issues DApps are facing. There are lots of DApps offering unique propositions. However, they lack the technology to reach enough adoption and growth.
One of those technical problems is scaling. Most of DApps are built on top of existing blockchain protocols, but they cannot achieve enough scalability when a lot of users start using DApps on their chain.
For instance, Cryptokitties, the game mentioned above, has clogged up the Ethereum network several times, delaying transactions of all Ethereum users as well as any token built on it.
What Are The Solutions?
Many decentralized applications have switched to other existing blockchains, although Ethereum remains the most popular. Many developers are looking for a network that can operate their DApps without any problem. There are, however, not that many platforms capable of offering enough scalability, decentralization, and security.
FLETA was created to solve this problem. It is a platform specifically designed to support decentralized applications, allowing developers to build their DApps and operate them independently on the chain. Every single DApp that is created on the FLETA platform will have its own sub-chain, which means that they are operated independently and are not affected by other DApps on the platform.
For example, even though one DApp is hugely successful and has to handle millions of transactions in a short time, it will not affect others on FLETA chain as they have their sub-chains.
Additionally, high transaction speed is also crucial for the development and growth of any DApp and cryptocurrency. FLETA chain’s maximum speed is 14,000 transactions per second, and the team aims to reach a higher speed.
Furthermore, FLETA allows DApps to reach their full potential by providing them with complete control. Developers can customize all parameters, like mining rewards or execution fees.
Having a great idea and being able to translate it into an application might seem enough to create a successful decentralized application, but this is far from the truth. There are many DApps with amazing ideas that simply do not work because of the technical issues that they are facing. Especially, scalability and fast speed are necessary; the general public would not use a DApp that makes them wait for hours until the transaction is completed.
FLETA offers a complete solution for DApp developers and DApps with scalability to become as big as they want to and a 14,000 transaction per second speed.