Blockchain: Future of Decentralized Application development

Blockchain- Future of Decentralized Application development
After examine and understanding a huge stuff about Blockchain, digital currencies, bitcoin, crypto currencies and more, it is fair enough that you would have come across the word DAPP stands for “Decentralized Application.”

These are the emerging breed of applications that are spreading like a fire on the internet. Everyone does not own these types of applications, cannot be shut down and cannot have downtime. These are also defined as internet application and execute on P2P (Peer-to-peer) network and Blockchain.

Do you know the meaning of decentralized application? A system is said to be decentralized if any central authority is not controlling it. This means that once someone mentions any information or add any record on a DAPP, it can never be deleted. Though the content may be edited by the person who uploaded it.

These are something different from the conventional centralized internet applications which are based on centralized server and performs as the chief controlling authority to the whole application where in the case of DApps these are not associated with any particular entity and are on Peer-to-Peer network protocol. Nowadays, many developers try to adopt Blockchain technology as it contains potential to make the decentralized app.

Let us look at the difference between Centralized, Decentralized and Distributed

  • Centralized : All the flow of information and other computation managed individual from the single center.
  • Decentralized : Computation is done at each node, no node instruct other. Information controlled from more than one center.
  • Distributed : Multiple nodes are evolved which perform computation and it is controlled from the single center.

 

To be more transparent about the concept of Decentralization DApps makes a way to connect users completely discarding the mediator. The open-sources of this makes the users in charge of the changes and the codebase available to all. The data and protocols in these are encrypted and then stores in public Blockchain. Some of the well-known DApp solutions are – Ethereum, Maidsafe, and KYC-Chain etc.

There are some Advantages of DApps

  • This could help to make the internet more secure, reliable and private. The data shared towards many computers are encrypted that makes it less hackable and less exploitable.
  • Initially, DApps have no single point of failure. They cannot be taken down by a hacker, a company, or a government.
  • These DApps are very much flexible and transparent than traditional application development.

Let’s look at the classification of DApps

The only way to classify this is whether these applications have their blockchain or they rely on other DApp’s blockchain. Based on those features these are classified into three types which are,

  • Type I Dapps : These types of Dapps have their blockchain are DApp’s which have their blockchain. Examples include Bitcoins, Lit coins, and other altcoins.
  • Type II DApps : These types use the blockchain of Type I DApps. This type of DApps are protocol and have tokens that are necessary for their functions.
  • Type III Dapps : They use the protocol of type II DApps. They have protocols and tokens as mandatory for their functioning.

How DApps are operated?

The 2 ways through which DApps are primarily operated are proof of work and proof of stake. In the case of proof of work, the decisions about the changes to be made on the DApp are calculated based on the amount of work each stakeholder contribute to the operation of DApps. Proof of work is commonly known as mining. But in case of proof of stake, decision and accordance on the app depend on how much a stakeholder owns over the application.

Advantages of DApps :

As discussed so long we have certain advantages that cover up some loopholes in the centralized app system, and these are described below,

  • Inherit security : Since these rely entirely on blockchain which stores the data, DApps are itself able to guard against any intervention by other trying to alter the data or steal money or manipulate content
  • Easy integration with cryptocurrencies : Currently, we see cryptocurrencies like bitcoin can simulate activity on different platforms and accepts transactions and are verified through mining. This thing will be add ease on manual money transaction.
  • Resistant to corporate interference : Conventional development depends on developers or any authority to facilitate the transaction and for decisions about the structure but DApps have the potential to operate entirely of their own. These are free from outside influence.

 

Conclusion,

DApps have targeted the global market, and every innovation brings a revolution in the digital economy. And in all these innovation blockchains and DApps are one of those which are invested upon different business organizations. These are accepted globally and has enormous and new opportunities that will undoubtedly create revenue. These are moving ahead of the research stage having the best ideas for enhancing the current system.

 

Author Bio:

I am Vidhi Pansuriya and I like to write articles about tech trends on app and web development, digital marketing, and SEO. Currently, I am working with Tecocraft – A leading App development company based in UK and India.

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