Decentralized apps (Dapps)
This is my first article as a techie and I hope to continue documenting my progress. I recently completed a 4-weeks training on the basics of web3, organized by Web3ladies.com. I was very enlightened about the Web3.
I learnt the difference between Web2 and Web3, blockchain, smart contracts, mining, decentralized exchange, decentralized apps, consensus mechanisms- Proof-of work and Proof-of-stake (which will be replacing proof-of-work soon) and lots more. I found the concept of decentralized apps interesting which is why I chose to write on them.
What are Decentralized apps (Dapps)
Decentralized applications (DApps) are software programs or applications that operate on a peer-to-peer (P2P) network of computers, such as a blockchain, rather than a single computer. DApps, sometimes just referred to as "dapps," are not under the jurisdiction or control of any one entity. Dapps are frequently created on the Ethereum platform and are used in Games, Finance, and Social networking.
My understanding of Dapps
I learnt that Dapps don’t require personal information in order for users to access the features. It runs on a decentralized system that doesn’t rely on a central authority to carry out transactions. The front end is like an app or web interface, but they are built using smart contracts. Smart contracts contains the terms of transactions or an agreement on a blockchain and they are usually written in languages such as Vyper and Solidity.
Examples of Dapps- Binance, Luno, Coin base, Busha, Quidax, Remitano, Kraken and others
Advantages of Dapps
- Decentralized: They are free from control of a central authority and do not require a single entity for transactions
- They can’t be blocked: Because dApps are not hosted on a specific IP address, they cannot be blocked. It is far more challenging for outside authorities to stop a dApp because less power controls the network of a dApp.
- Greater control: Enterprise blockchain-based solutions are typically created to link several businesses or trading partners. Fully decentralized applications don't have this issue because they can be operated by each participant independently of the others thanks to their decentralized structure. This typically leads to the application being adopted more quickly.
Disadvantages of Dapps
Lack of user experience: DApps don't always provide the optimal user experience and don't always operate in the same way as centralized applications. For instance, since dApps are built on blockchain technology, logging in would require a public and private key rather than a username and password that is simple to remember or input.
Maintenance: Dapps are challenging to manage since it is more difficult to change the data and code that has been published on the blockchain. Even if defects or security hazards are found in an older version, updating dapps (or the underlying data stored by a dapp) is difficult for developers once they have been deployed.
Network Congestion:When one dapp takes a lot of computing resources, the entire network becomes congested. If transactions are transmitted more quickly than the network can currently handle (15–20 transactions per second), the number of unconfirmed transactions will quickly increase.
In conclusion, Dapps are digital applications that run on block chain system compared to other applications. They enable the user have full control over assets, such as tracking, buying and seller without the interference of a central authority.
Although it might be difficult to manage the codes and the user experience is lacking, I believe Dapps are still developing and more features will be put in place to ensure they are user friendly.
Thank you for reading