Steemit Crypto Academy Season 4 Beginner's course- Homework Post for Task 8 by @blayforson : Decentralized Application

in hive-108451 •  3 years ago  (edited)

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?

DApps likewise decentralized apps are applications which are fundamentally decentralized implying there is no authority guiding or controlling the framework.
Regular applications we have today such as twitter, Instagram, facebook and the likes work or operate on a centralized network where the proprietors of the application can easily get access to your information or data on the application. Unlike centralized apps, where they require a centralized system to operate on, decentralized apps does not require any system for its function.
Due to its name "decentralized" meaning it operate on its own, allows users to access their accounts freely to their satisfaction without any interception. dApps has every one of the functions actually like the conventional applications and also gives the opportunity to choose the type of transaction method like P2P. Also dApps are blockchain based applications and furthermore an open source that guarantees you the approval to do whatever kind of stuffs you want.

Explain the working system of dApps?

dApps works on a system called smart contracts. A smart contract is an algorithm or calculation that naturally executes an understanding between two parties or gatherings like a purchaser and a dealer. Smart contract mainly operates by keeping records of all activities performed and it is done automatically without any assistance. Due to its ability to keep records it is sometimes referred to as ledger. All dApps needs a smart contract for its operations in order to be part of the blockchain system.

What are the differences between dApps and other applications?

There are numerous differences between dApps and other applications. Here are some few differences between them.
  • Low cost-: dApps accompanies a low cost and furthermore a quick method of sending cash with no stress whereas centralized apps usually charge high for utilizing the application to send cash to other users. For instance, if an incorporated application charges you 6% for sending cash, dApp would have a less expense of around 2% which is much lesser than those centralized apps.

  • Privacy-: One major difference between dApps and other applications is that dApps can perform similar functions without any interference from any third party that is, no member can get access to one's data whereas it is the opposite in the other applications.

  • Security-: Again there is major difference in terms of security between dApps and other applications. dApps ensures a safety and secured system which makes it very difficult for fraudsters to get access into a user's account whilst in other applications, the security system is not as secured as dApps. This makes all information or data on dApps very secured.

  • Authority-: dApps operate on an open source and its activities are transparent thereby allowing users to modify their data or accounts to their satisfaction whereas in other applications, they operate on a single authority system making users not getting the chance to modify their data.

Explain the advantages and disadvantages of dApps?

Advantages of dApps

  • A major advantage or benefit of using dApp is that it operates on a decentralized system and since it is decentralized, it grants users the ability or authority to run the application to their liking.

  • Information trustworthy- With the use of dApps, information stored cannot be changed by false people. Again, ther is a high security level regarding dApps. This makes it very difficult for an outsider to get access into ones information.

  • Easy accessibility- Another major advantage of using dApp is that, dApps are very easy to access since there is no third party system regarding dApps as compared to other applications.

  • Transparent transactions- dApps ensures a safe and transparent transactions. No third party is needed when making transactions to other users since dApps runs on a peer to peer network system therefore does not require any assistance from anyone making transactions to be very safe and secure.

Disadvantages of dApps

  • Difficulty in verification processes- As compared to other applications, the verification processes in dApps are mostly difficult and sometimes time wasting. Since dApps operates on a decentralized system, one has to go through a lot of processes before one could be verified as a user.

  • Difficulty in updating one's account- In updating dApps one has to go through a lot of procedures before his or her accout could be updated. The updating process is sometimes very stressful since it requires other members or uses using the same dApp to also update their account before successful update could be achieved.

  • The inability to reverse transactions- Transactions made in using dApps are sometimes very difficult to reverse. The transaction method mostly used in dApps is the peer to peer system and since it is decentralized, ie does not require any third party in its actions, one could get scammed in making transactions by fraudsters thereby resulting in loss of capital, energy and time.

  • Again, a major disadvantage of using dApps is its complex nature. Accessing dApps are sometimes very difficult such that it sometimes requires high skilled or qualified personnel to access such operations.

How can dApps develpers promote their apps?

As an app developer, you must be able to advertise and promote your app very well to the public. The following are some few ways an app developer can use to promote his or her apps.

  • The use of the social media- In this modern world, one of the greatest sources where information could easily be reached. Social media is a community that focuses on sharing information, content sharing and as a medium for promoting one's business. Using the social media platforms such as facebook, Instagram, twitter, etc, as a medium of promoting one's app could help app developers to advertise their products to the world.

  • Press advertising- A better way of promoting one's app is through the press or media. Advertising one's app through the newspaper, magazine, on the radio, television, etc, can help promote your app to reach a wide range of customers.

  • Also allocating sign boards with one's app designed on it at vantage points in the society can help promote one's app.

What should we pay attention to when using dApps?

Decentralized applications mostly operate on an open source system, which means any user can get access to every information on the app. Due to this, before a user uses a dApp, he or she must make genuine research about the app before registering to be a user since one could easily be scammed on the platform since there is no authority or policy governing such apps. Again, a user must be very careful in making transactions and investments using dApps since transactions made on dApps are difficult to reverse. Due to its decentralized system, a user must be alert and informative to avoid being scammed by malicious people.

How do we find the information of a DApp that we want to know? Provide the steps (screenshot required)

The following are the steps one could use to find the information of a dApp.

Step 1: First visit DappRadar.com

20211103_143500.jpg
Screenshot from DappRadar.com

Step 2: The homepage then appears, click on the top right corner of the page.

20211103_143407.jpg
Screenshot from DappRadar

Step 3: A pop up menu then appears, you then click on ranking

20211103_143619.jpg
Screenshot from DappRadar

Step 4: A new page then appears, indicating a list of dApps. You then select the kind of dApp you want. I will then go in for uniswap and click on it.

20211103_143900.jpg
Screenshot from DappRadar

Step 5: After clicking on uniswap, a detailed information about uniswap then appears.

20211103_144007.jpg
Screenshot from DappRadar

Conclusion

Decentralized applications can be regarded as part of the best technologies in this modern world. Due to its strong security system, easy and transparent transaction methods, it would therefore help promote the blockchain system to last longer and also add new members to be part of the blockchain system. I would like to acknowledge professor @wahyunahrul for this nice lecture given to us. I have really learn a lot form decentralized applications.

Thank you for your review @dilchamo.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  
Loading...

Please do not use the #club5050 tag unless you have made power-ups in the last month that are equal or greater than any amount you have cashed out.