What is DApps (Decentralized Applications)?
Sounds crazy, right?
This type of application is called DApps which is short for Decentralized Applications, a decentralized application.
- Open Source - The application source code must be accessible to everyone
- Decentralized - All application operation records must be kept in a public and decentralized system to avoid central control
- Incentivized - Application has a crypto / token / digital asset to run on its own
- Algorithm / Protocol - Generates tokens and has a consensus mechanism built into it
If you follow the definition above, it can be said that the first DApps is Bitcoin. Bitcoin is a general ledger that makes transactions more efficient without intermediaries and central authority.
DApps Classification
Based on the Blockchain model used, DApps can be classified as follows:
Type 1
This type of DApps has its own Blockchain system like BTC (Bitcoin). Other Altcoins also enter the DApps type 1 classification.
Type 2
This type of DApps uses Blockchain Type 1 and is a protocol that uses tokens to function. An example is the Omni Protocol.
Type 3
This type of DApps uses the type 2 DApps protocol. An example is the SAFE network.
How does a DApp function?
DAppss works by implementing the four criteria above. This means that DApps is a software platform that is open-source and implemented on a decentralized Blockchain system, and runs using tokens generated using algorithms / protocols.
How to start a DApp project?
Step 1: Make a Whitepaper
Step 2: Start the ICO Process
Step 3: Build and Develop Products
Step 4: Launch the Product
Now that was an explanation of what is DApps. You may be aware of many ICO projects that also include DApps and any type of DApps. By reading this article, hopefully your understanding of what DApps and Blokchchain will increase!
