Before we dive deep into this ocean I would like us to get familiar and know the definition of some terms associated with decentralized apps, I won’t be going deep into them so if you want to know more you can surf the internet or drop a comment on what you want to learn.
I am not a freaky “genius” but I would like to share the little out of the large cake I know so lets take a dive.
What is a block chain ?
A block chain is a decentralized data base or it is a list of records, A continuously growing list of records called blocks which are secured and linked to each other using cryptography.
What is peer-to-peer network ?
The very first time I heard this word it was so confusing I did not know what it really mean, but now to some comfortable extent. This is a distribution application architecture that partitions task or work loads between peers.
What is Immutability / security ?
This is like a very strict rule statement once done can’t be undone, once data has been written to a blockchain no one, not even a system administration can change it.
What is smart contract (Dapps)
Smart contract is a computer protocol that allows individuals to exchange data in a trusted and conflict free manner without the help of a third party it intend to facilitate, verify or enforce performance of a contract.
Dapps which means decentralized apps, they are new type of software program designed to live/exist on the internet in a way that it is not controlled by a single person, just like steemit is a decentralized app.
The aim of a decentralized application is to achieve functionality beyond transaction that exchange value .
What are smart contract used for ? They can be used for …
Voting
Record keeping
IOT (internet of things)
Real estate
Auctions
Digital identities
Mortgage
With this we would be stoping here for today, you might lose interest if I continue so I’m going to be splitting this little words … (I would call it lesson for now) into parts. In our next lesson we would be looking at HOW TO CODE A SMART CONTRACT ?
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Thank, soo much
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