DeFi 10117 August 2021

What are dApps or Decentralized Applications?

Dapps or Decentralized Applications are a Part of the Blockchain

Summary

  • What is a dApp
  • Features of a dApp

Decentralized applications or dApps are digital programs built on a blockchain (P2P network of computers) outside the control of an authority.

DApps function like normal applications, offering the same functions only that they operate on a peer-to-peer network (the blockchain). This means that there is no particular person or organization with control of the network.

Notable features of dApps include:

  • They operate on an open-source network
  • The data and records are public
  • They use cryptographic tokens to secure the network

DApps make use of the Etherium blockchain to store data and smart contracts for app function. Once a dApp has been placed on the Etherium blockchain, it cannot be changed.

With a dApp, it is possible to trade cryptocurrency and even sell or buy non-fungible tokens.

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