Steemit Crypto Academy Season 4 Beginners' course - Task 8: Decentralized Applications (dApps) : Home work task for prof @wahyunahrul || by @starrchris

Homework Task 8 - Question 1

WHAT ARE DAPPS?

EXPLAIN THE WORKING SYSTEM OF DAPPS?

WHAT ARE THE DIFFERENCES BETWEEN > DAPPS AND OTHER APPLICATIONS?

EXPLAINED 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 DAPP THAT WE WANT TO KNOW? PROVIDE

THE STEPS (SCREENSHOT REQUIRED).

INTRODUCTION

Good morning prof how was your night? I have gone through your lessons and i was opportunity to gain a lot of knowledge about Dapp also known as decentralized application, i also was opportuned to know the advantages, disadvantages and difference with other centralized applications, i alo was opportuned to know how to use the dapper to check and find details about any decenterlized application. Below are what i understood before i answered your questions.

WHAT ARE DAPPS?

DApps also known as decentralized applications, it can be defined as software applications that is totally decentralized, that is to say Decentralization application are application that have no center controller. Decentralization is the act of been free free a center body, node, admin or government. The applications runs on a peer to peer network, that is giving full authority and power over application to the users.

Decentralized application helps ensure private, secure easy transaction between two or more users. Due to the fact that the users have full authority over account or application, the are limited or no restrictions from developers of the application.

For example unlike centralized social media platform like Facebook, Twitter or Instagram, where the center node or admin easily penalize any defaulter that goes against a rule, by blocking, deleting or restricting the account, in decentralized application there are no admin to block, restrict or delete account of defaulters.

EXPLAIN THE WORKING SYSTEM OF DAPPS?

Decentralized applications are software applications that are mostly developed on a blockchain, the make use of smart contacts that help verify transaction and perform activities usually done by an admin, these smart contacts are product of Artificial intelligence, that help perform activities made for humans, easily and faster. The smart contacts perform the recording, verification and confirmation of transaction that are made on the decentralized application. Unlike centralized applications that runs on a client-server network, decentralized application work on a Peer-To-Peer network which means the don't need a center controller, server or node to operate, in this type of network every node is it's own admin i.e the users have have total control over the activities in the account.

WHAT ARE THE DIFFERENCES BETWEEN DAPPS AND OTHER APPLICATIONS?

The difference which exist between Dapps and other apps (centralized) includes the following;

DAPPS	OTHERS
Dapps are usually developed on blockchain	They are not developed on any blockchain.
They are very secured.	They not very secured.
The charges are usually cheaper.	The charges are more expensive.
Rewards it's users with a token	There is no reward for it's users.
Dapps uses tokens	They don't have any form of token.
They are no center nodes or admin	Here there are Center nodes and admin.
At most times uses secured keys to access account	At most times uses mere password.
They account have full authority.	Only the center node have full authority.
Keys are known to only owners of the account	Password are known to owners of account and admin

EXPLAINED THE ADVANTAGES AND DISADVANTAGES OF DAPPS? .

Although the advantages of Dapps are too much but it still has some disadvantages and below are some advantages and disadvantages of dApps;

ADVANTAGES

• DAPPS gives owners full authority over their account activities, unlike centralized application where only admin have full authority over the accounts in the network.

• Due to the fact that keys are known to only the account owners of DAPPS, it's very difficult to steal the keys which makes it almost impossible to gain unauthorized access.

• Since DAPPS make use of smart contacts the transaction are more reliable and assured because smart contacts don't scam or perform partiality to owners of account.

• Decentralized applications are built on a Blockchain. We all know that Blockchain store's it data on blocks, which we know are permanent stores. Therefore data concerning a Decenterlized application can't be stolen.

• They are transparency in every transaction that occurs on a Decenterlized application.

• Anonymous in nature, that is to say transactions made on a decenterlized application are anonymous nature.

DISADVANTAGES

• Because open-source and smart contract nature, it causes them to be more prone to Cyber attacks on decenterlized applications, especially the poorly developed ones .

• DApps are difficult to gain access to due to the complexity of the blockchain.

• It almost impossible to get back lost or stolen keys, and account.

• because activities on a decenterlized application are irreversible in nature, wrong transactions, can't be reversed, which might lead to a serious lost.

• Verification of ones account are usually very difficult and stressful in nature

• They are not usually friendly to Users, that is the have poor or lower users interactive and user friendly attributes.

• Using a Decenterlized application requires, skills, knowledge and experience, to avoid losing your assert or account.

HOW CAN DAPPS DEVELOPERS PROMOTE THEIR APPS?

Just like other applications decentralized applications need to be promoted to increase users and subscribers. Decentralized applications are usually promoted through;

• Advertisement: decentralized application developers do promote their decentralized application, through advertisement of different types and methods. For example the could publish them on websites, social media platforms S, newspapers, poster etc.

• Airdrops: developers of decentralized applications, also perform Airdrops to attract users to make use of their decentralized application or software. Airdrop are more like rewards given to users for using their decentralized application or software. The more holders of their token, the higher chances of increasing the fame of their asset.
For example:

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Note images were gotten from my telegram application

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• DAPPS can also be promoted with the help of decentralized application directories or decenterlized application promoters such as dappradar, dappbang, dappclap etc. These decentralized application directories and promoters assist decentralized application developers, publish and promote the applications.

WHAT SHOULD WE PAY ATTENTION TO WHEN USING DAPPS?

Though Decentralized applications are very important and helpful, we should also create the habit to also make analyse on every decentralized application we make use of some of this application are just fake and lies because some of this decentralized applications are not actually decentralized application, some are just applications used by fraudster to scam users of their hard earned assert.

• Many of this application are ponzi-scheme but the act as as decentralized application, the always make so many false promises, so the can easily deceive and attract users, the promise a lot of profits and gain when you invest with them. As soon as you get deceived and invest, the just shut down and disappear with you funds, example of such application:

• HEX,
• Forsage etc

• It's nice and safe to make a confirmation of the sender or receiver, wallet address before performing transactions on decentralised application, because transaction on a decenterlized application can't be revised, that is if a wrong transaction occurs or are made, it is almost impossible to get back that asserts or fund, because decentralized application don't support reversing of transactions for security reasons. It's impossible to reverse transactions after the have been confirmed, because the verification and confirmation of transaction are done by automated contract agreement done by smart contacts not humans.

HOW DO WE FIND THE INFORMATION OF A DAPP THAT WE WANT TO KNOW? PROVIDE THE STEPS (SCREENSHOT REQUIRED).

In order to find any information about any DApp that you wish to know, the following steps are expected to be followed;

Dapper.com

Step 1:

Visit the website www.dappradar.com, when the site opens you will see the overview of the homepage as shown in the image below.

Step 2:

Click on the box like images, then click on "Ranking".

• Step 3:

Select the network you decide to check on or analyse.

Step 4:

I selected Solana network.

Step 5:

Then i selected "Raydium", here you see an overview of "raydium" for example
Market cap = $6.14B
Token price = $11.07
Cap/Tvl = 4.12
Token = RAY

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Conclusion

Thanks to our lovely Professor, now i can boast of that i am fully enlightened and aware of Decentralized applications. For now on i would advise everyone to make analysis about any decentralized application the plan on investing on. To my understanding decentralized application don't steal data of it's users, decentralized application are better, Smart , more reliable compared to any centralized applications. Dapp gives it users freedom, to perform activities as the want with having any one to restrict them.