Toppie Lessons №8: What Is DApp?
A DApp (decentralized applications) has its backend code running on a decentralized P2P network, unlike an app that backend code functions on centralized servers. The major advantage of it is that the users are not supposed to rely on one centralized computer or server for conveying and accepting the information.
For having to understand the difference between centralized and decentralized one, there are numerous examples which could simplify the concept of DApps where the main differentiating factor that it is not dependent on one primary or centralized authority to pick and transmit data. Despite the fact that a DApp does not essentially require a blockchain for having to conduct its operations, still, plenty of DApps utilize the facility of the same blockchain power which is called smart contracts. Smart contracts are given this name because they have an automatic function which is formed to form the conditions of an agreement. For example, if you are the one who wants to buy a house, the very process will combine numerous third parties like estate agents and law professionals for settling and finalizing the deal for you. Nevertheless, by bringing the smart contract system to use, the entire process requires to engage only the seller and buyer while as soon as the terms and conditions are fulfilled, the smart contract would implement freely of the other group. For having to attain access to the blockchain and function it properly, the DApps depend on smart contracts in a similar way as centralized applications rely on the centralized servers for functioning properly.
Basically, a blockchain is a systematic list or ledger in which transactions are carried on Bitcoin or other cryptocurrencies are recorded. There are several most common needs of an application prior to being known and treated as decentralized one, such inevitable factors are as under:
· The application must belong to an open-source.
· The data of the application should be saved on the decentralized blockchain.
· Tokens of the applications must be produced with the help of cryptographic algorithmic mechanism.
· Cryptographic use of token like Bitcoin or so on.
What Can DApp Do?
Basing on their qualities, divided data storing along with the utilization of blockchain, the DApps come with the kind of capability which has just commenced to get mined. The decentralized applications have the dire potential to take over the most immense and powerful centralized systems in near future. Moreover, the decentralized apps and means of payments also have the capacity to surpass the established gateways like Visa and others. Similarly, the data storing decentralized services could thoroughly replace the platforms like Dropbox, OneDrive and so forth. That’s not all, but the matter of fact, the bandwidth decentralized services could take the place of established platforms like Amazon and Comcast. The reason behind this scintillating potential of the DApps is due to the virtue of their self-reliance facility as they enable their users to invest and hold their share in the DApp’s worth. Depending on the blockchain, the level of scaling is also vital which means the decentralized apps have all that it takes to pin down the pioneer centralized enterprises due to bigger user source, transparency, and no fear of modifications.
In a nutshell, DApps have almost anything that one might think to develop on a blockchain and their current fame is skyrocketing quite swiftly. With the current availability of DApps, the most common uses are many as under but not only confined to these:
· Property agreements and deeds.
· Smart Contract feature for quick payment management and funds
· distribution.
· Voting facility along with other management system and crowd sales.
· Technological keeping and handling of assets and trust free agreements.
Why Does DApp Matter and Its Benefits?
As it is evident that the DApps do have plenty of pros and benefits, we have compiled the most remarkable ones of them as under:
Built-in security:
Due to the fact that DApps are based on blockchain for having to save the data, so they have the inherent security and safety against the odds of intervention by anyone with malicious intentions to change the data for fraudulent activities or stealing. It is more so because the blockchains store the data in such a manner that it never lets any modification until the entire of the stakeholders are willing to make a change.
Flawless incorporation with cryptocurrency:
Cryptocurrencies are the newest revolution in our world and there is no denying about that. Similarly, a lot of DApps involve the cryptocurrencies as the blockchains servers were launched and introduced by Bitcoins. The cryptocurrency transactions are the most major utilization of the decentralized apps where accepting incoming information and their verification through the help of mining is effortlessly possible.
Free from intrusion:
As already mentioned, the conventional applications heavily rely on their core sources or application for having to stimulate the transactions and deciding about numerous working factors. However, the DApps are free from such working mechanism and tend to function independently in their very own certain manner. This is how it is ensured that the DApps are naturally free from external interference, regardless of the fact that is it from the company, central authority, developers or even an organization. Also because every individual person has the particular stake in the handling of program and information in the DApp, so having to influence will only be possible by maneuvering a majority of the users which is the least likely case.
Responsive to innovation & creativity:
Among other terrific benefits and advantages of the DApps, being able to be responsive to novelty is something which is quite prominent as well. Similarly, it is a general perception that the maximum output out of the DApps is yet to be taken and they are not realized up to the best of its tendencies. While the DApps built-in security system makes it free from external interference and the same is the great reason of its popularity, DApps are also utilized to develop such interfaces and applications which hardly need any privacy including games or networks content etc. That way, DApps provide a magnificent opportunity for further growth and technology advancement to the developers.
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About TOP Network
TOP Network is a decentralized open communication network that provides cloud communication services on the blockchain. TOP offers secure, low-cost services such as messaging, calling, video, VPN, CDN, IoT data sharing and more.
TOP Network is also a high-performance public blockchain platform designed to handle real-world business of any size or volume. Powered by innovations including three-layer network, two-layer sharding, two-layer lattice DAG and PBFT-DPoS*, TOP can process several hundred thousand transactions per second on the blockchain.
The long-term mission of TOP Network is to build a public blockchain infrastructure for all Dapps. Our world-class team of over 100 developers is striving for this goal.
TOP Network originated from the common underlying network layer of Dingtone, CoverMe and SkyVPN, three communication apps built by the TOP team before the blockchain project. These apps, having attracted over 50 million users in total, will be ported to TOP Network upon the launch of TOP and generate huge volumes of transactions in the TOP ecosystem.
TOP Network was founded by serial entrepreneur Steve Wei and his colleagues in late 2017. Steve was one of the earliest employees of WebEx in the 1990s. After WebEx, he founded a successful video conferencing software company which was acquired by Huawei in 2010. In 2012, Steve co-founded Dingtone, a public listed company operating popular communication apps such as Dingtone, CoverMe and SkyVPN.
TOP Network has closed $11 million early investments from prestigious institutional investors and individual billionaire investors, including DHVC, Fenbushi Capital, NEO Global Capital (NGC), Ontology Global Capital (OGC), LD Capital and more.
