DApps Simplified (DApps, dapps, Dapps,dApps)
A decentralized application or dApps are applications that run on the Blockchain or P2P networks or even on a network of computers. A special feature is that these applications are outside the control of a single governing body.
Breaking Down dApps Further
A traditional web or mobile app like Uber/Twitter is run on a single computer which is controlled and operated by a single organization. This organization has the complete authority to operate, stop or tamper the app. Though there are multiple users on one side, there will be one point of control for the back-end.
The best examples of dApps are BitTorrent, Popcorn Time, and Tor. These are run on multiple computers that are a part of the P2P network. There are multiple participants; some consume the content; some create it, while some do both.
To make things simpler, imagine running Twitter on the Blockchain platform. A tweet once posted will remain as such and can never be deleted. The maximum is that the owner can edit it, but never ever be deleted.
What are the basic criteria a DApp should have?
- The primary feature is that they should be autonomous and open-source.
- I.e. the changes can be executed only with unanimity and no single body can take the whole authority.
- All the protocols that it follows and the data should be stored cryptographically in the Blockchain.
- The tokens should be used to reward the network users and to provide application access.
- It should encourage the contribution by the members to the system and token should be generated based on that.
The Three types of dApps
Discover more about them here.
A decentralized, unalterable record-keeping system is how it is defined.
Example - Factom (FCT). This runs on a private Blockchain.
A fully open-source and decentralized prediction market platform.
Example - Augur (REP). Runs on the Ethereum Blockchain.
Decentralized data storage and communications network.
Example - The SAFE Network, Coin name - SafeCoin (SFE) Runs on the Bitcoin’s Blockchain
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