[DApps] - Steemit Crypto Academy Season 4 - Homework Post for Task 8

Questions

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 which means decentralized application refers to decentralized applications, which means programs or applications that are not being controlled by any external body or central authority.

DApps are very secure applications because of the strong security network, here it is the user who has the account private key, it is not shareable and with the key it shows that it is the person who is the authentic owner and controller of the account.

In a DApp, there is a smart contract which is like a ledger which shows both old and new transactions being done in the account with low charging rate.

As far as the dApp is concerned, there is no geographic boundary restriction, it also uses P2P (Peer to Peer) network. It is also transparent and cannot be hacked.

Explain the working of DApp?

As I mentioned earlier that DApp uses a peer to peer network which shows that there is no outside or third party interference when a person is performing or wants to transact.

Here another working mechanism is smart contract which is a useful and important work tool in which all the transactions done or done in the account are recorded and kept here and it is made open to the individual through an open source system.

The transaction charges here are always low, no matter how high the rate or the number of transactions you make, the rate is low with tight security and no third party interference.

What are the differences between dApps and other applications?

dApps:-

1. In DApps, when a person is transacting there is no need for the intervention of the external entity pr third party, which means that the transaction is done by the owner only and kept with the help of smart contract records.

2. Talking about dApps, the level of security here is very strong and this makes transactions secure and one's confidence that their funds are safe.

3. There should be no help in case the person is facing a problem, there is no third party to reach out to the person.

4. The rate at which the transaction is being charged is very low.

5. To be able to operate the account well the person will need more or less knowledge of blockchain and issues will be minimized.

Other Applications:-
1.there is an external entity or third party involved, which means no transaction has been made that the third party is not aware of and they keep a record of.

2.the level of security is not strong which means it is low and transactions is always at risk because of low security.

3.Here, there is always a third party in which an individual can reach out to incase of help and problem.

4.The rate at which the transaction is being charged is high.

5.The person does not need any idea about blockchain and if he/she faces any problem then there is a third party to assist.

Explain the advantages and disadvantages of dApps?

Advantages of dApps:-

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• The first thing when we talk about DApp is that there is no third party involvement or external body, when you are transacting through it it means no one is required to approve your transaction Rather it is the person who has everything like the private key to use in executing the transaction.

• The security level in the DApp is very strong which also increases the personal trust level because with the higher level of security one will be so sure about the security of his/her assets.

• Transactions here are less risky due to tight security.

• There is no chance of it being closed here.

• Fee Rate No matter how you transact in dApps, the fee is always low.

• The account in DApp is always very secure which means it cannot be hacked.

Disadvantages of dApps:-

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• The dApp does not require the involvement of any third parties, which means that it will be difficult for newcomers who face problems as no third parties will assist.

• The speed level in dApps is always slow and this will affect individual transactions.

• To be able to work on dApps one has to be aware of Blockchain, if not then it will be difficult for the individual to adapt

• If a person makes a mistake and accidentally sends money to another account by mistake, he is gone and lost.

How can dApps developers promote their apps?

There are so much ways in which a Person can promote dApp which are.

• social media.
• Events.
• Road side Billboard(banner).
• Advertisement.

Social media:-
We can also promote dApps by using all social media handles and this will interest a huge percentage of people because we have a lot of people on social media so if the advertising is done in social media then people can share their social media Want to log in, it will promote the dApp for a long time.

Events:-
Talking about events, if there is an event that is organized as a seminar or conference with a large population and it is being talked about a particular DApp, the application will be promoted Because many people will be interested in it.

roadside billboard (banner):-
This is one of the best ways to promote dApps, you just have to print a big and attractive banner on a billboard that once a personal pass will always be forced to see it again, information about dApps in the banner and through this people will see it and can take interest in it.

advertisement:-
This is also a way of promoting DApps and thus it can be done by advertising on a radio show or TV program, imagine a special DApp is advertised after the first part of a football match which will attract many people.

What should we pay attention to when using dApps?

1.The security
2.Transaction confirmation
3.Research
4.Fake site

the protection-
Talking about security it should be secure and it should not be hacked so you have nothing to fear because your money is safe, secondly one should keep his private key with him and not impersonator Share this to access the account and avoid being laundered.

Transaction confirmation:-
Whenever a person wants to do a transaction he should be very careful so as not to send it to the wrong address or receiver, so to avoid this one should always verify carefully.

Research:-
One should always research about the DApp he wants to invest in, he should not always rush to invest but should be careful and therefore do some research to ensure that the DApp is safe and secure.

fake site:-
One should be sure of the site to avoid using a fake or scam dApp account and it may lead to theft of personal property.

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

Step 1:-The first thing to do is to click on the site.

Source

Step 2:-Here, we click on the box that appears like Settings to see the list that will be displayed which will be Ranking, DeFi, NFT, Port Folio, Token Swap, etc.

Source

step 3:-After that, I would click on the ranking then click on a list display in which I saw uniswap and I click on it and proceed as I like to use it.

Source

step 4:-After clicking on uniswap, uniswap features will be displayed, here you will see more about uniswap that it ranks #10 in general, #1 in exchanges and #1 in ETH.

Source

characteristics listed in the table below:-

Uniswap characteristics
Token name UNI
Token Price $26.55
TVL $11.45B
Market cap $26.56B
Cap/TVL 2.31
ATVL. 13.19B

Step 5:-Once done with this, I move on to the uniswap dApp where I was able to see features like:
Swap tokens, pools, votes and charts, wallets can also be added

Source

Conclusion:-

From this lecture, I have really gained a lot of knowledge like knowing what is dApps, different from other apps, how to promote it etc.
The lecture was very instructive and important for a newbie in Steemit Crypto Academy
I want to thank the professor @dilchamo and @wahyunahrul for this lecture.