How decentralized approach matters for blockchain?
In the recent past, the
concept of decentralized applications began spreading. Such applications enable
smoother, quicker operations and are free from centralization.It’s only the one
advantage of building and owing decentralized app but there are many more to
avail.
Overview on Decentralized
Apps
Being open source, Dapps
helps to improve scalability. These apps are all about building and deploying
highly scalable apps. As they are decentralized, it indicates that the code on
which they are built can be accessed, copied or modified by anyone. Actually, a
decentralized app’s backend code is stored over a blockchain which makes the
accessibility process streamlined.
Importance of
decentralized approach
When we say, the app is
decentralized. It means that the code of such an app is stored over a
blockchain. And it can easily be distributed between different computers. There
will never be a more powerful and centralized body to govern app’s code. On top
of that, adopting decentralized approach also reduces down the chances of app
getting compromised.
Decentralized app and
token defining value
Remember, a decentralized
app always run on tokens which are available in the form of cryptocurrency. The
usage of token-cum-cryptocurrency within the app is remarkable. The app
generates the tokens and will be fueled by paying all the network participants.
Participants will be incentivized in terms of tokens only for their
involvement. The token will be sold and brought during the app’s token sale and
on some listed crypto exchanges later on. These tokens act as proof of value
that network members bring to the app’s ecosystem.
In a nutshell,
decentralized approach and apps helps in developing blockchain architecture supporting
open source development.
Gallactic Blockchain
project involves the development of remarkable blockchain architecture which
supports Gallactic’s Open Source Development Environment, Ecosystem and
Interoperability initiative. For more information, you can follow us on Twitter.
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