An application is a software or computer program that helps a user to fulfill the purpose in which he or she needs it for. The applications we are used to are always controlled by a single entity, which means they are Able to see and know everything that happens with the App. Our passwords and data's that has been filled.
Then some people thought about having a more secure applications and they came up with what we call a Decentralized application a.k.a DApps.
DApps are also computer programs that runs on a decentralized system. They are developed on a blockchain technology which allows for a decentralized system which ensures security and anonymity to its users. The authority and control of the app is based on the users and not solely on the developers of the application.
DApp also offer more security in that they use an open source system that doesn't give anyone access to manipulate the data because it records the data.
WILL DAPP BE ABLE TO REPLACE CENTRALIZED APPLICATIONS IN FUTURE?
Dapps are possibly the future of applications due to the characteristics that gives it an edge over the centralized application, some of the characteristics are listed below.
Security:
Dapps gives more security in terms of data whereby a user is sure that his or her data are safe and it won't be compromised. Also due to the way blockchain technology is built, it is difficult for any person to hack into the Decentralized application.
Anonymity:
Dapp gives anonymity to its users whereby someone with trust issues can confidently buy any medication or goods online without the fear of the purchase been traced back to him or her.
Accountability:
Dapps uses what we call the ledger or smart contracts whereby every transaction Carried out is been recorded automatically and shown to the general public and this also gives assurance that Dapps can't just disappear.
Transparency:
It gives their users the access to enter a transaction data into the smart contract to be able to verify the transactions that has been carried out and this transactions can be pulled out anytime and any day without delay.
Also the dapp is open to all, it gives the users trust that the developers will do whatever they have set to do in the roadmap.
CAN DAPP STILL IT'S USER DATA?
One of the characteristics of dapp I gave above is that it gives transparency and more security which means whatever data input by a user is encrypted by the blockchain and saved on the ledger, no person can hack the blockchain because it is difficult to do but users data can be stolen from them if they aren't careful enough to ensure they keep the details they use safe enough from other people and also when the input their data into a fake website called a phishing browser that steals all the data that has been stored on it.
HOW DOES DAPP PROMOTE ITS APPLICATION TO THE PUBLIC?
Dapps promote their projects through various means which are
1. Initial coin offering:
This is a way through which dapps promote their projects, they put the native coin of the dapp on sale for a lesser price so as to get investors who will invest in the project and the money realized will be used to develop the dapp more before the launching. This initial coin offering creates awareness about the project
2. Airdrops:
Airdrops are done by some project to make people aware of the project as well, Airdrops are considered free money and alot of people always look out for it. This way more people get to hear about the project since there is free money involved.
3. Social media:
We are in the Era of technology and part of it's usefulness is creating awareness to people through social media. Adverts are been placed by this projects on social media giving informations about the dapps and what they have to offer.
4. Cryptocurrency groups:
Dapps can promote their projects on crypto groups since it's also associated with crypto this also makes the news about the project spread.
5. Dapps websites:
There are platforms that give details about dapps and all that has to do with it. They also help in advertising new Dapps that are about to be launched, such platforms are good to promote projects as well.
REVIEW OF A DAPP
We will be doing a review on one of the most common Dapp that have been launched but first let's go to the platforms that shows varieties of Dapps, then we select the one we will be reviewing.
First you load the site dappradar.com on your browser. After which we get to the homepage where we see various features on the interface.
We then click on the button as shown in the screenshot below to get other features.
A new page will pop up we will then select the category of dapps we Which to know their details.
I clicked on ranking so the site will show the ranking of the general dapp available on the platform.
The list will be displayed showing the total value locked, users and volume of the dapps then we will select the one we want to see it's details. I will be choosing pancakeswap which is the number 2 of the ranked dapp.
I will then click on pancakeswap icon then it will lead us to another page and give us brief description of the pancakeswap dapp. The token price, market cap, the token name etc.
To see a better view of the pancakeswap we will click on the logo again and it will take us down to the main webpage of the pancakeswap dapp.
The dApp platform will load and we will see the homepage interface as shown in the screenshot below. To access the other features of the platform we click on the 3 horizontal button at the top left corner of the platform and we will see the other features of the platform.
If you have been hearing of decentralized EXCHANGES pancakeswap is one of them. It is a decentralized exchange for trading binance smart chain tokens and also allows staking and farming in the platform.
Pancakeswap is similar to the uniswap platform the only difference is that pancake is for BsC while uniswap is for Ethereum tokens.
Trade section
This allows a user to swap a token for another with ease, lesser transaction fee and speed. Pancakeswap is an automated market maker that allows you to trade assets without placing order but you get your order from a liquidity pool
FARMING
This feature allows you to farm the native token of the platform CAKE. This is done by depositing LP tokens and locking them for a period of time and you earn rewards. See the screenshot below for LPngojens you can deposit.
POOL
In this feature you can stake your cake and also use it to get other tokens. This is called syrup Pool. This enables you to get other token for free without stress.
PREDICTION BETA
This features gives you access to predict the price movement of a coin whether it will go up or down and you have the chance to earn cake if you predict rightly.
LOTTERY
This is another feature where users can earn cake whereby you buy a ticket and select random numbers and a draw will be drawn if your number is part of the numbers drawn you earn some certain amount of cake.
In inclusion we have other features like the battle ground and collectibles section where users can earn NFTs and the likes.
DApp I will love to create
If I am opportuned to create a DApp I will probably go for a medical aspect where the Dapp gives users access to be able to consult Doctors anonymously and also give them access to buy drugs with the use of tokens or coins. This Dapp will be on the binance smart chain for more adoptions.
The DApp name will be Medicrypt. The problem this Dapp will be solving us giving users confidence to take to health practitioners about their illness without holding anything back.
Also we will be using a blockchain Oracle that wkk be bringing real life data into the dapp for the checking if the vital signs of patients.
A native token will be created as well and there will be an initial coin offering so as to get investors to invest in the project.
Great post! I think dApps will replace Apps in 3 years
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