Decentralized Applications (dApps) - Steemit Crypto Academy Season 4 - Homework Post for Task 8 | by @benjamin09

지난달

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Question.


1). What are dApps? Explain the working system of dApps? What are the differences between dApps and other applications? Explain the advantages and disadvantages of dApps? How can dApps developers promote their apps? What should we pay attention to when using dApps? How do we find the information of a DApp that we want to know? Provide the steps (Screenshot required).

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What are dApps?

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Decentralized applications commonly known as dApps, refer to a system of application that involves a different method of applications from the Centralized Applications that has a central control unit which controls all data and control. With Decentralized Apps, every user has the rights and abilities on the platform and all this is thanks to the Blockchain Technology that is used on the platform. There is no central point of command or storage. So, there is no central point of storage that can be accessed and manipulated making this more user friendly.

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Explain the working system of dApps?

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DApps, are applications that use the blockchain technology to carry out their transactions. This makes dApps to be decentralized meaning that there is no central authority that runs or controls the platform. With dApps, no one is in control and thus the platform runs from its coding without the the need for humans at any stage. Unlike Centralized Apps where companies are built for the app's upgrades and maintenance, dApps don't require this as they basically run themselves giving users a peer-to-peer experience with full access by the users into any part of the platform.

Also, with dApps, there is the feature of Smart Contracts. This means that, with dApps, there is no need for third party interference in transactions and this will reduce the transaction charges and time that were to be paid by the user. With the use of Smart contracts, the time that was spent in placing a transaction request before the transaction is now carried out, plus all the charges that will be incurred transferring from one bank to another, all these expenses will be saved using smart contracts. With the use of smart contracts in dApps, when a transaction is made in a blockchain and needs to use the dApp for the transaction, all the user needs to do is just send with the dApp and the transaction after being validated on the blockchain system, will be sent to the intended wallet.

For example, if Paul was to send John 50USD, he can use a dApp such as TronLink and send send Trons worth of 50USD to John and this transaction will take less than a minute at minimal transaction cost.
Unlike if he decided to use the conventional approach of third parties such as banks to carry out the transaction and pay a larger fee for expenses for a transaction that will take a long time before it will be validated and processed.

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What are the differences between dApps and other applications?

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The differences between dApps and other applications include;

- System type.


The system used by dApps such as JustSwap, is the decentralized system while the system used by other applications such as twitter is the centralized system.

- Level of security.


The level of security on dApps is really high since they use the blockchain technology as their Blockchain while other apps have a lower level of security and high level of risk because of the centralization of the system.

- Function.


Most dApps have the same function no matter the blockchain that they are in thus increasing the connection between dApps unlike centralized apps that mostly have different functions.

- Resistant to bugs.


If there is a bug encountered during transactions, this will be independent of the whole network as it will affect only the node and that transaction from reaching a consensus. This is very different from centralized apps that will probably have a crash on the central server in case of an attack by a bug.

- Transaction fee and transaction time.


The transaction fee in dApps is really small and this also goes for the transaction time. While in centralized apps, there is high transaction cost and transactions take a longer time to be processed.

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Explain the advantages and disadvantages of dApps?

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Advantages of dApps.

  • Decentralized applications are resistant to bugs.
  • DApps have a very high level of security since they use the blockchain technology.
  • Due to smart contracts, there is a small time taken for transactions and this is very fast. Also, the transaction fee is small making it more affordable for traders.

Disadvantages of dApps.

  • Due to the nature of DApps, once a transaction is completed even if it is a mistake, it is irreversible and thus, the tokens will be lost.
  • DApps are decentralized applications that work based on the code programmed and does not need any human or worker as a third party but there is an issue which is the difficulty to build such a platform that runs alone. It should be very difficult and complex to build a DApp.

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How can dApps developers promote their apps?

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DApps can be promoted through some of the following ways;

  • Firstly by building a system free of errors and glitches. When a developer builds an app that is working and functioning properly as it is supposed to, this will increase its exposure as users will rate the application richly and the higher the rating and feedback from customers, the better the promotion.

  • DApps can be promoted with the use of ads in the blockchain which the DApp was built for. The DApp could have ads that inform the blockchain's users of the availability of a dApp for use under the blockchain.

  • Also, the DApp could be promoted through the best way of promotion nowadays which is through social media platforms such as Twitter, Facebook, Instagram, Whatsapp. Using social media will be very helpful to the promotional campaign since these social media are the highest platforms where most technologically literate users spend their time. The DApp could reach a large number of people using social media.

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What should we pay attention to when using dApps?

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When using dApps especially Type II dApps that deal with financial activities such as JustSwap, a user should always pay keen attention to the information that is required to be given for a transaction. This is because, in any case of a mis-step or error, the tokens used for the transaction will be lost and unable to retrieve them back at this point. So, whenever we make transactions on dApps, we pay attention and fill in the required spaces with the required and correct information so as not to make errors.

Also, when using a dApp, the user should pay attention and identify the type of dApp which he is using. For example, a dApp like Steemit is a Type I dApp, JustSwap is a Type II dApp and CryptoBlades is a Type III dApp.

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How do we find the information of a DApp that we want to know? Provide the steps (Screenshot required).

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In order to find the detailed information about a dApp, we will first of all need to go to website https://dappradar.com/ for on this website, the information about all dApps can be found here and the dApps are also ranked.

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What we do next is search for the dApp which we want to analyse and get the details. We can search by clicking the highlighted section in the screenshot below.

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So I want to get the information about JustSwap. So, I will search for it as seen below.

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Once I tap the dApp, I am taken straight to the details page where we see all the information about this dApp as is seen below.

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From the above 2 screenshots, we can see all the information about JustSwap from the rank, to the statistics.

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Conclusion.

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After the completion of this task, I know what DApps are and how to use them as well promote them. I'm aware of the various differences that exist between DApps and other apps (centralized apps).

Thank you for reading.


Cc: @wahyunahrul

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Hello @benjamin09,

Thank you for participating in the #08 Fixed course for Newcomers in the Steemit Crypto Academy.

Your grade on this assignment is as follows:

CriteriaGrade
Presentation/Use of Markdowns1.5/2
Compliance with topic1.5/2
Quality of Analysis1.5/2
Clarity of Language1.5/2
#Club50501/1
Originality1/1
Total8/10

Homework task: 8/10

Feedback and Suggestions :
  • You have answered the question well. You have used good explanations and images for the answer.
  • You have to explain at least 5 points to make it a full answer.
  • You can do more research gather information for the answers. Your effort is appreciated.

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Thank you Prof