Steemit Crypto Academy Season 5 Beginners' course - Task 8: Decentralized Applications (dApps)

Hey guys, I will like to welcome you all to another introduction course task 08 presentation. Without further ado, let get straight to the presentation.

1). 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).

Question 1. What are Dapps?

Decentralized application or Dapp in short can be define as application or program that operate on blockchain network which rely on several computer unlike the normal application which rely on single computer. Dapps are host on a peer-to-peer decentralization network.

Image Source

Dapps run on smart contracts due to the ethereum network protocol. This protocol eliminate the need for a third party to be involve in a transaction which means no middle man. Instead of a middle man the protocol replace it with a code which in turn reduce cost and speed up transaction.

Question 2. Explain the working system of Dapps?

As said earlier Dapps follow the smart contracts protocol on a decentralized network. This is possible through the Ethereum blockchain which helps to store data and smart contracts to login their applications.

Image Source

A smart contract are like set of code or rules on blockchain which helps to guild dapps on how to operate. When a developer develop a dapps on Ethereum network, that action is irreversible which means it cannot be change. This is done to prevent any lop-hole which can invite hackers attack.

Question 3. What are the differences between dapps and other application?

There are several differences between dapps and the old normal applications we use to, some of the differences are explained below:

• Dapps run entirely on a decentralized network so in term of handling it financial models, he handles it himself. This is done by enabling creator’s access to be in charge of their currencies as tokens, by storing value in their application. This method create value from the work invested in the application which helps moves trading.

• Dapps runs using a peer-to-peer network which means it network is decentralized. This has eliminate the fear of a single point failure. This reason makes dapps highly secure for attacks.

• Dapps been decentralized applications means it cannot be shut down by anyone or any single point of command, and cannot be influence by government. Centralized application such as twitter can suffer a total brake down if one of its major server is affected.

Image Source

Question 4. Explain the advantages and disadvantages of dapps?

The major advantages of dapps circle within the application been decentralized which promote its user privacy. Been decentralized means they is no need for user to submit their individual information.

Below are some of the advantages of Dapps:

• As said earlier dapp main advantage is it been censorship resistance which means it not under anyone’s control. It is difficult for government to restrain any user form accessing dapp.

• Another advantage of decentralized application is that since it uses peer-to-peer network, they can’t be a single point of failure when the host computer is attacked.

• Dapps operate as an open source which promote a more secure growth and faster transaction of the ecosystem.

Disadvantages of Dapps

Dapps are still relatively in its infancy which means they are still lot of challenges to be solved. Some of its advantages are:

• Dapps are likely to be vulnerable to hackers attack. Many dapp operate on open source smart contracts, which make it vulnerable for hackers to exploit it weaknesses. So for this reason it advisers to keep all funds in a controllable wallet.

• Some dapps may be very complex to use. It still at the stage where it interface it still been worked on.

• Dapps are still new to the tech world some it hasn’t been fully accepted by everyone which make some dapps struggle because of low user.

Question 5. How can dapps developer promote their apps?

There are many ways for dapp developer to promote their app and some of these are explained below:

Image Source

Social Media:
Social media has millions of active users at a time which makes it the best and first place to look at when advertising your dapp product.

Website:
Online present can really bring out the authenticity of an application. It also indicate or tell people how much they need your application.

Endorsement:
Having an influencer person such as celebrity to endorse your dapp can help tell the audience that your application is the real deal.

Public Relation:
These involves activity such as inverting media presence, hosting parties can bring awareness of your dapp. You can also grant interview to caught the attention of viewers on how much they need your dapp.

Questions 6. What should we pay attention to when using dapps?

There are a lot of things that we need to watch out for when using dapp and some are explained below.

Image Source

• The security is one of the most important aspect of dapp. We should always notice how easy it is to access the application to give us an insight on how tight the security is.

• We also need to pay attention to how fast is it for a transaction to be completed. If to slow than lay a complain of dissatisfaction.

• We should notice how easy it is to navigate through the application. This is important because it makes the application easy to use and also users won’t see it as a difficult task to use the application.

• We should pay attention to the transaction fees.

Question 7. How can you find the information about a dapp that you want to know? Provide the steps (screenshot required).

The detail step by step explanation is provided below:
Step 1: Visit this site dappp.

Step 2: Locate and click on Ranking at the top of the screen as shown below:

Step 3: In ranking you can fine the top dapps and you can click on anyone you want to more about. I am clicking on PancakeSwap.

Step 4: After I click on pancakaswap, all details requires will be shown. Example below.

Step 5: If you want to connect to my wallet, click on open Dapp.

Step 6: After opening the dapp section you will see an option that said connect wallet or trade now.

Conclusion
After completing all the questions asked. I have a better understanding of dapps and their working principle. A big thank you to professor @wahyyunahrul for making this possible.

NOTE: All unsourced pictures was screened shot by me.