Does DApps rule future technology? A brief Foreknowledgeby Isabella Aria Blockchain Technology Blogger
- A Dapps is a computer application that runs on a distributed computing system.
- The Dapps have been popularised by the distributed ledger technology, blockchain. It is open-source software that is implemented on a decentralized blockchain and powered by tokens using algorithms.
Use of decentralized applications
- The main agenda of a decentralized application is to offer services and utility without truly owning the data.
- Dapps are designed in such a way to offer services based on the token economy.
- Dapps provides premium features and services that can be availed by performing in-app purchases, in which the developers generate income.
- Now let us witness a real-time game-changing decentralized application.
- Basically, chainlink offers smart contracts to secure access to data, API, and payments.
- It secures the data and makes it much harder to compromise since it relies on the same type of consensus mechanism blockchains use to come to an agreement on the validity of the transaction.
- It easily connects with API to validate money transfer from a bank or other financial places such as Paypal or Visa.
To sum up
Dapps have secured their place as an irreplaceable tool and paved a path to further growth and development. In the near future, the Dapps are expected to become more mainstream as more investors jump in to capitalize on these platforms' efficiency.
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Created on Oct 13th 2020 11:58. Viewed 204 times.
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