What is a dApp?
Asked 2 years ago
I'm new to the concept of decentralized finance and want to know what a dApp is? Do I need it?
Tuesday, February 01, 2022
Saturday, February 26, 2022
DApps are decentralized applications running on the blockchain. They work like everyday applications except that the data and other backend infrastructure of the applications are on a decentralized network. Since DApps are built on the blockchain, they are more secure than traditional applications, they also offer more privacy and protection for users. They are free from manipulations in centralized applications and they are the application for a new and immersive web known as Web 3.0.
DApps are open source which means users can see the codes controlling the applications. They will never go offline, and they are censorship-resistant. The online permanence of DApps is possible because there are thousands of computers each holding copies of the blockchain which makes a single point of failure common with decentralized applications impossible. The censorship-resistant feature of DApps protects users from arbitrary actions of centralized institutions and governments. DApps are powering a new ecosystem of financial applications, assets, and interaction on the web through NFTs, and decentralized gaming.
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