According to a study done by the Blockchain Examiner, the Dapps “market size is projected to reach USD 21,070.2 million by the end of 2025.”
Decentralized Applications: A Quick Overview
Decentralized applications are computer apps that run on a distributed computing system. In other words, Dapps are applications that leverage blockchain technology and operate from a secure and reliable network.
It means Dapps are not centrally controlled, hence the benefits of transparency and the lack of third-party authorities. Decentralized apps are hosted on peer-to-peer networks such as Ethereum, Loom, or Waves.
DApps: Remapping the Technological Landscape
While today’s dApps are merely scratching the surface in terms of their potential, we will see more use cases emerge as the technology matures. Currently, the core challenge in the path of blockchain’s large-scale adoption is stakeholder management and bringing competitors and collaborators together to solve shared problems.
As dApps continue to grow in number and more innovations enter the playing field, it is always important to understand the good and bad of each application. Governance will be critical, dApp audits will become a requirement, and data security will become of utmost importance. dApp ideas that can entice mass collaboration show significant promise to facilitate a new way for users to securely interact online and transact with novel financial systems and digital assets.
We are only beginning to experience what is possible with the development of the decentralized web. As more and more DApps are launched, we'll be one step closer to achieving a more democratized playing field of business participation and user value generation.
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