What is a DApp?
Decentralized applications are different from traditional applications due to 4 main reasons: they are built on top of a decentralized network, their code is visible to anyone, they provide tokens or digital assets, and they use a consensus mechanism to govern their network.
On the Ethereum network, DApps are made up of mutiple smart contracts. They can either adopt Ether as their currency, or they can create their own token.
DApps help users regain control of their own data. How? Currently, the applications we use are run by large centralized organizations like Google or Facebook.
That means that everyone’s data is stored in only a few centralized locations, which makes it highly susceptible to attacks, hacks, and censorship.
Instead, DApps secure our data through the Ethereum decentralized data system in which smart contracts are encrypted, broken up, and stored in different blocks across the network.
The first real breakthrough DApp was Crypto Kitties. A DApp that created a craze for collecting and trading virtual cats on the Ethereum blockchain.
Smart contracts and DApps have built the potential for organizations to become completely decentralized.
Next, we’ll learn how organizations can use the decentralized network to govern without corruption.
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