DApps are applications are built using blockchain technologies. Although DApps provide the same digital services as other apps, they differ in some major ways. Find out how decentralized applications work here. Decentralized applications (DApps) are digital applications or programs that exist and run on a blockchain or peer-to-peer (P2P) network of computers instead of a single computer. DApps which are often built on the Ethereum platform can be developed for a variety of purposes including gaming, finance, and social media.
DApps differ from regular mobile and web-based apps because
they aim to hand users more control over the data that these apps manage. In
addition to this, DApps are:
• Often
open-source – Freely available and capable of modification and redistribution.
• Decentralized
– Hosted on a decentralized blockchain.
• Distributed
– Leverage complex cryptography as a verification method.
• Turing
complete – Given the required resources, the dApp can perform any action.
• Deterministic
– The same operation performed across different nodes (computers or connected devices)
returns the same result.
• Isolated –
If the smart contract happens to have a bug, it won’t impact the normal
functioning of the blockchain
network.
Business leaders are exploring how blockchain-based
applications can help build more efficient processes and new financial models.
There are a few main ways that a decentralized app can be used to benefit
businesses:
1. Business intelligence and innovation
DApps enable new ways of organizing economic activities, reducing costs and time associated with intermediaries, and strengthening trust in an ecosystem of actors. Businesses exploring these types of disruptive technologies are often given pioneer status.
2. Decentralized control
A decentralized structure allows each party to run the app
without having to trust any other party. This usually results in faster
adoption of the application. Since dApps aren’t hosted on any particular IP
address, there is less authority owning a dApp’s network and it is much more
difficult for external authorities to prohibit a dApp.
3. Data integrity
Once information is added to the blockchain, it’s stored
permanently, which means dApps are more resistant to modifications or
restrictions.
4. Business transparency
DApp code is often open-source, which means that it can be
viewed by anyone who wants to verify the developers’ claims on what it does.
While privacy laws and regulations differ from one country to the next,
centralized applications still require users to input sensitive data.
5. Less downtime
DApps are more robust and flexible than centralized
applications because they don’t require connectivity to a single centralized
server to run. This means that enterprises can ensure minimal interruptions and
downtime for maximum business continuity and resilience.
6. Cost reduction
DApps offer a higher transaction speed, which translates to
cost reduction. Unlike centralized systems, organizations don’t need to install
resource-heavy servers and hire experts to manage and maintain their servers
and data.
7. Security
Unlike traditional single-server applications, dApps have no single point of failure which means that they are more resistant to attacks. A dApp will only fail if every single computer in the network fails which is near impossible.
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