STEEMITCRYPTOACADEMY SEASON3/WEEK7/ HOME-WORK POST FOR WAHYUNAHRUL/FUTURE APP FROM BLOCKCHAIN SYSTEM

5개월 전

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INTRODUCTION

There should be free, fair and transparent flow of information for everyone and this should not be interrupted or controlled by any centralized and external body. The development of DApps is the future for free, fair and transparent information since it’s not managed and controlled by anyone.
DApps are applications or programs that functions and operate on blockchain without alterations by anyone. Meaning no one control the functions of the Dapp. For instance when someone makes a post on a Dapp the content cannot be deleted by anyone including the developers of the Dapp. DApps provides security and are more table compared to centralized applications because centralized applications are manages and controls the activities on platform giving them the opportunity to look into personal data of it users. Malfunctioning of the centralized body of the centralized apps affect data flow on the applications because it only has one main source were all data are derived from where as DApps use the distribution form of data flow which minimizes malfunctioning.

Will DApps be able to replace centralized applications in other fields in the future?

Definitely DApps will replace centralized applications in other fields in the future. Why do I say this ? DApps operate on blockchain which is opened to everyone and prevent it from being tempered by anyone. Information about people is very important especially when it’s about personal data of the person. Some people use this personal data of others to steal and harass them so it’s important to have high security on such data that’s what DApps is providing for us. In the long run people will shift to the DApps usage due to its numerous benefits. Some of which are;

  • Provides high security
    Security is very important aspect in most things we do especially when it comes to money. Many online frauds occur due to week security of the centralized applications. The DApps operate on blockchain which is very difficult to be breached thereby providing high security when using it.

  • DApps works on decentralized system.
    Centralized applications are controlled by one person. The person makes decisions regarding the way the applications should be used. In this type of system there’s higher risk of inflexibility because decisions are made by one person. DApps brings about competitiveness since decisions are distributed and not made by one person. Competitive decisions brings about best alternative choices to pick from.

  • DApps functions autonomously without the intrusion of anyone. Improvements can be made to the DApps by collective agreement by it users. Unlike centralized apps which changes can be made to the apps at anytime without the users opinion but rather the the developer.

Is there a possibility for DApps to steal user data?

It’s not 100% certain that data will be secured on a DApp since it operates on blockchain. Blockchain consists of series of blocks which contain informations and records of transactions. These data are stored permanently and prevents alteration by any means since transactions are done between users without any intruders.
Ultimately we all know blockchain is very secure hence data can’t be stolen from it but if the security of the blockchain is weak it give access to hackers to easily steal data from the DApps especially for smaller blockchain. It’s always advisable to always strengthen the security on the blockchain thus increasing the security of the DApps since it operate on blockchain.

Explain the ways in which a DApp promotes its application to the public?

Most at times based on the usage and experience we have when using something help us promote it either good or bad. It’s very annoying when you have to go the bank join queues before you’ll be attended to or wait for longer time before you perform transactions on your phones because it’s centralized. DApps does not require any third party hence making transactions faster, secure and saves time. After realizing how efficient the DApps is you recommend to friends and family there by promoting the app. When people experience how effective the DApps is telling people about it helps promotes the application.

Also another way DApps promotes the application to the public is through social media. If you want lots of people to know about an application do giveaway on social media and allow them to refer others in other to win the prize. In so doing the application is being promoted to the populace. Through the advertisement on social media about 60% of the people who participated will be curios to know about the application hence you should make clarity in promoting the application encourage them to use it. If the DApps is effective and secure the people will also help in promoting it.

. Choose a DApp and do a detailed analysis that proves that the DApp is a good one to use. (Provide proof with screenshot).

First of all, I visited the daapRadar to select my app.
From the daapRadar list here are some DApps.

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From the list of DApps I’ll selecting uniswap.
All my analysis will be on uniswap.

  • click on open Dapp to continue
    A new page then opens
    It will be required to connect your wallet to uniswap.
    Uniswap is ethereum base so it will be required to connect your ethereum wallet.

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To connect to your wallet there are three options available; walletconnet, open in coinbase wallet and fortmatic.

  • you can select any of the options but I chose the fortmatic
    You’ll be required to enter your email address and password in order to connect.
    Some of the features of the uniswap include
    Swapping, pool, vote and chart.
    Uniswap is an automated market maker that enhances trading and exchanges without the control of any centralized body. Uniswap is one of the most popular decentralized applications which is ethereum based.
    SWAP

    Swap: the swap feature of the uniswap gives a wide range of tokens which ethereum can be exchanged into. From over 20 coin tokens including Aave token, Ether, Balancer, tBTC, SNX and many more. Uniswap is one of the most secure and trusted platforms to facilitate all your tradings and transactions.

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POOL

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The uniswap liquidity pool is marketing area for ERC 20 tokens. The pool is a risk which allows you to gain or lose based on how you run it. To gain from a pool you’ll have to deposit an equal value of token in the pool set by someone else. When the amount deposit equals the initial pool it creates a profit.

If you were a DApps developer, what kind of app would you like to create? Explain all the details of the DApp plan that you will make.

The main aim of developing a decentralized app is prevent the interactions between third parties and focus on direct transactions between one user and another. Even though there are some aspects of decentralized apps that are based on games, entertainment and more; I’ll like to base my development on the financial aspect that’s creating an exchanging platform where it going to include lots of trusted tokens. My DApp would be called EXCHAGIT which will include features like swap, chart and EXCHAGIT gain. The swap feature will facilitate all transactions and provide wide variety of tokens to be chosen from. The chart I developed will help users to obtain in-depth analysis of the crypto market base on the rise and fall of the coins and finally the exclusive feature EXCHAGIT gain will be a platform were users can gain rewards on transactions they perform on the platform this will help maintain the people who use the app and also attract other users.

CONCLUSION

From the lectures sir @wahyunahrul gave us it can be realized that;

Decentralized apps operates on the blockchain system which which is a peer to peer system hence can’t be controlled by anyone.

  • Data on decentralized apps is highly secured but if the blockchain is weak it can be hacked and accessed by people. Therefore we should make sure the blockchains are always secure to prevent any intrusion.
  • After I visited the aapRadar I realized decentralized apps does not only include money exchange apps but include games, entertainment apps and more. I’ll be visiting the sites for more fun DApps available there.
    It was really an interesting topic from sir @wahyunahrul.
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Hi @kaydee009, Thanks for taking my class.
Based on the homework that you have made, here are the details of the assessment you get:

No.
Aspects of Assessment
Rating
1
Personal opinion on DApps replacing Centralized Apps
0
2
Possible data theft via DApps
0
3
How to promote a DApps
0
4
Analysis of a DApps
0
5
DApps creation plan
0
6
Conclusion
0
7
Writing procedure and structure
0
8
Following the Rules and Guidelines
0
Total
0

My Reviews and Suggestions:

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Thank you!