What are dApps?
What are dApps?
dApps are also known as Decentralised Applications. These are programs, tools, or applications that run on any decentralised blockchain.
You might already be aware of centralised apps which you can download and run on your phones or computers. Centralised applications put trust – data, content, account information, vital functionality etc. into one main central entity: typically servers, data banks, or standalone computers. The blockchain network, however, is community-based, open-source, and uncontrolled by any single authority. This means dApps may not be served from one central server or by one central authority, but instead can live on the network. dApps can work off the blockchain to function and simply require a private address for users to log in.
Why do we need dApps?
Some real-world use cases of dApps are that they can be used to connect buyers and sellers in marketplaces, to share or store files, maintain a virtual currency, and execute smart contracts all in a system devoid of complete ownership or censorship.
Examples of dApps:
Some existing dApps include image upload and storage tools, advertising servers, security tools, voting sites, review sites, crowdfunding platforms, etc.
Here are some famous dApps:
- Augur (REP) - A decentralised prediction marketplace based on the Ethereum (ETH) blockchain.
- Golem (GNT) - A decentralised marketplace for trading idle computer power on the Ethereum (ETH) blockchain.
- Siacoin (SC) - A decentralised marketplace for cloud hosting space trading - Sia operates on its own blockchain.
- Bancor (BNT) - Bancor is a Decentralised Exchange running on the Ethereum (ETH) blockchain, where the users can convert between two tokens.
Future of dApps:
dApps have the potential to revolutionise how the internet works - it is the reason why everyone is saying that Blockchain is the next internet. One can build anything and everything with dApps, with passing time we will all see more and more revolutionary dApps built.
Who doesn't want a censorship-free internet?