A decentralized application, also known as a DApp, is a computer application that runs on a decentralized peer-to-peer network. DApps are open source and operate autonomously, independently of central authorities.
The application must be open source, operate autonomously without any entity controlling most of its tokens. Adaptations to the application must occur upon consensus among its users.
Application-related data must be stored on a public blockchain. The app uses some cryptographic token, needed to gain access to the DApp and to reward contributions from its users.
The application must generate tokens according to some cryptographic algorithm that act as proof of the value of contribution from system users. The decentralization model of DApps gives them advantages over traditional centralized applications. The functioning of decentralized applications does not depend on central entities, so your system is not subject to possible failures in servers or data centers. Due to the distribution of application elements in a blockchain, users themselves have access to its content in a transparent manner and can participate in the process of verifying its authenticity, a factor that is responsible for the difficulty of any malicious agent being able to attack the network. Decentralization also entails an exponential increase in the difficulty for its content to be censored or its access restricted by corporations or the government. However, the development of DApps requires knowledge about the functioning and structure of blockchain and cryptography, which is a prohibitive factor in creating new applications. In addition, DApps inherit a number of blockchain technology problems and limitations, such as the need to pay a cost to perform operations in the chain, the need for a sufficiently large and robust network for the application to operate properly, and the scalability issue , which causes blockchain operations to slow down and cost more as the network grows faster than expected. Decentralized applications are also vulnerable to the so-called 51% attack, which occurs when some entity or group takes control of more than half of the nodes responsible for verifying the authenticity of blockchain transactions, making it possible to carry out fraudulent operations on the network.
Information obtained from wikipedia click the button below to read the original post
- Tired of being left behind and losing and leaving money with crypto assets, schedule a consultancy and we will solve this, click the button below
- Have you ever met Binanci, the largest cryptocurrency broker in the world? We recommend it for beginners and advanced as it is extremely good and complete in all requirements. Click on the button or link below to register and get a free 10% bonus on your membership fee.