[Wise Crypto Life] 04. DApp Edition
The world of “D-App”
Your name is: DApp
Decentralized Application, referred to as DApp, stands for 'Decentralized Distributed Application'. It operates within the mainnet (ecosystem) that applies the 'Smart Contract' technology of automatically filling in contents within a contract once contract conditions are met. Some examples are: Ethereum, EOS, TRX, and NEO.
Just as there are multiple apps in the Android OS or iOS operating systems, there are also multiple DApps in the mainnet of ETH and EOS. Although the number of DApps based on the ETH mainnet currently occupies an absolute advantage, the number of new mainnets beyond the limits of the ETH mainnet is also increasing.
As the namesuggests, DApps have a decentralized structure, meaning it is not controlled by a specific administrator or central server, and related information is distributed and stored using blockchain technology. The advantage of this is that there is little risk of information leakage since blockchain technology cannot be forged or altered. In addition, there is a high degree of transparency due to the open source, and rewards users for their participation.
To help you understand what DApp is and what it does, let's look at each field.
1. Game: Currenty, DApps are most widely used in the gaming field. The main objectives are to obtain rewards by collecting game props or completing tasks. Cripto Kitty, which was launched in 2017, is one of the representative examples.
2.Exchange: Binance, Bithumb, Upbit and other famous exchanges cannot be called decentralized exchanges due to the existence of intermediaries. In contrast, the exchange DApp is a decentralized exchange that eliminates any intermediaries and realizes direct transactions between people.
3.Social/Cultural: Some DApps allow users to submit high-quality articles on and get rewards, or use tokens to purchase various cultural content products. Among them, KOK PLAY is a comprehensive content platform with contents including movies, web comics, games, and shopping.
If you are interested in finding out more about DApps, please visit “Dapp.com” or “Stateofthedapps.com”.
Use of DApp
As shown above, the scope of application of DApps such as games, DeFi, finance, social networking, and NFT is unlimited. Of course, there is still room for improvement in the response speed and operational threshold of DApps, but Naver and Kakao are currently competing for excellent DApps, and Samsung Electronics is also building a blockchain wallet. These examples show that DApps have huge prospects and advantages. The days of using convenient DApps in various fields near closer every day along with people’s interest in DApps.