Dapp

Dapp is an app built on decentralized technology. Typical apps are built by organizations or single entities even if they are open-source. Dapps don’t have owners and are free from censorships. The app itself runs on a decentralized network making it almost impossible to take it down. Blockchain being the most popular of these kind of decentralized chains is a catalyst for such apps.

The application logic lives on the blockchain and would execute the same way irrespective of the environment. This gives dapps a more deterministic way of working. Dapps offer privacy to developers and is resistant to censorships. However, they are computationally a nightmare. To be efficient every node in the chain would have to execute it. It will be hard to maintain such an app and develop coherent user experiences where it is spread across multiple nodes.

Coinbase has launched an app store of sorts for dapps. Brave, a web browser, has built a web browser that focuses on privacy and information control. Instead of relying on the traditional advertising model, it uses consumer attention as it’s form of “currency”. Users can earn their attention token by using their web browser. Compound is an automated interest rate protocol that can be used to develop financial dapps. Compound is a platform that allows you to lend out your crypto assets and borrowers to borrow a loan against a collateral. The blockchain ensure the security of the lending activity itself.

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