DApps (Decentralised Apps) Explained

DApps or decentralised apps is a brand new category of online applications based on blockchain technologies.

Just like the blockchain itself, dApps are not controlled by any central authority. Instead, they rely on smart contracts, the set of rules that are defined in a programmatical way. The execution of specified actions (such as money transfer) does not depend on the third party.

This gives dApps a number of benefits in comparison with traditional centralised apps:

1. Reduce costs on the third parties.

The deals are executed automatically with the help of the code.

2. Transparency.

All the details of all transactions are visible on the blockchain for any interested parties to verify.

3. 100% uptime.

Once smart contracts are launched on the blockchain, they work as programmed with no chance of failure.

The possible use cases for dApp development are practically boundless. DApps can be applied in almost any life situation where people agree on some terms and need an intermediary to verify the conditions of the deal.

Imagine purchasing real estate and verifying the whole process with the help of a dedicated dApp. All the conditions are encoded in the script. There’s no more need for multiple notaries, lawyers and other blood-sucking instances!

Apart from real estate, dApps development can enhance the following industries:

  • Banking & Finance
  • Medical
  • Election
  • Gambling and lotteries
  • Crowdfunding and many more

However, the main problem with dApp development is the difficulty of finding a reliable source to verify the conditions of the deal. The first industry to grasp the benefits of dApps was gambling and gaming. If you check the most popular dApps at dappradar.com you will see that most of them fall under these categories:

Dappradar.com: most popular dApps fall under gambling or gaming category

Decentralised applications have the power to disrupt almost all possible areas of our lives and give multiple benefits both for businesses and their clients. However, there are still many problems to resolve and many questions to answer since dApp development is still at its early stage.

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