Peculiarities of the Decentralized Applications

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Peculiarities of the Decentralized Applications
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• Lately, there has been a buzz going around the
  DApp - an acronym for Decentralized
  Application- a P2P type of network that is
  governed by members all around the world.

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• Although the concept of DApps is still quite
  nascent, it has already obtained some core
  characteristics unique to its nature
• Open source the worldwide availability of the
  main source code
• Decentralization the utilization of the
  blockchain/cryptographic technology
• Incentivization the provision of the
  cryptographic tokens/digital asset to the
  contributors
• Protocol the tokens generation combined with
  the consensus mechanism.

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• The DApps development process includes the
  following stages
• The publishment of the white paper describing
  DApps features
• The establishment of the initial token sale
• The distribution of the ownership stake
• The funds' investment and the actual launch

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• At the moment there are two ways in which DApps
  reward network participants
• Work proof
• The proof of work gives awards on the piecework
  basis. For example, miners reward is given in
  the form of tokens depending on the number of
  processed transactions.
• Stake proof
• The proof of stake ensures that the participants
  have the block voting rights based on their stake
  in the network.

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• DApps have the following pros and cons
• PROS
• Zero control authority
• A high level of database security
• Resistant to hacker attacks
• No system failures
• Ease of payments
• CONS
• Slow transaction processing speed
• Less efficiency of the blockchains when growing
  bigger
• High energy costs

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• Examples of the successful DApps projects
• Golem
• It is essentially a platform that uses the
  distributed cloud to make computer power
  accessible to everyone. Users from the Golem
  network have the ability to give tasks to the
  computer machines, thus making the DApp a very
  innovative sharing and pooling resource.
• Augur
• It is a cryptocurrency aimed at making market
  predictions, which will ultimately lead to the
  creation of a huge blockchain network of accurate
  forecasts used across all the industries.
• Status
• It is a mobile operating system available on
  Android and iOS allowing smartphone users to use
  DApps. With the help of the built-in messenger,
  they can stay connected, send payments as well as
  enter into a smart contract.

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• DApps industries
• Blockchain
• Internet of Things (IoT)
• Banking Finance
• Artificial Intelligence
• Virtual Reality
• Social Media
• Travel
• Government
• Medicine
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• Even David Johnston, CEO of the DApp Fund,
  predicts the following in his white paper
• These decentralized applications will someday
  surpass the worlds largest software corporations
  in utility, user-base, and network valuation due
  to their superior incentivization structure,
  flexibility, transparency, resiliency, and
  distributed nature.

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• Touch With Blockchain App Factory
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  Thousand Lights West, Chennai, 
  Tamil Nadu 600006.
• Mail info_at_blockchainappfactory.com
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• Website www.blockchainappfactory.com