DApps are applications based on blockchain that are open-source, not owned by anyone, have no downtime, and provide exciting new business and financial growth opportunities.
Decentralized applications (DApps) are digital applications or programs that exist and run on a blockchain or P2P network of computers instead of a single computer, and are outside the purview and control of a single authority. DApps are gaining popularity over traditional apps due to their decentralized nature and the limitless possibilities they bring for developers and users alike, freeing them from restrictions they usually face with traditional apps.
The Current Traditional App Scenario
The current methods of app development and user adoption have undoubtedly proven beneficial. Major app development companies have given us a large number of useful apps that have impacted every aspect of our lives. Be it social media apps that have helped us connect with people all over the world, ride-sharing apps that have eased our commute, or e-commerce apps that have redefined the way we shop, these tools have become an integral part of our lives.
However, these apps are controlled by the developing organization and users have to agree to their terms and conditions to use them. Hence, the data is under the control of a centralized system. Also, the privacy and security of our data that we share on these apps are highly debatable. They even face downtimes and the app can suddenly be taken down from various app stores due to violation of terms of services. Thus, we need to find an alternative to overcome these issues. Well, the solution to these problems lies with DApps.
The Future of Apps: DApps
DApps are open-source applications. This means that the source code for these apps is shared on a public platform and is accessible to everyone. Other developers can use this source code to build and modify existing apps with new features. Once, the new code (features update) receives consensus from authorized members, the app update is pushed to the users. Users, too, can suggest features they would like to have in the app and developers can code accordingly. Thus, you won’t be restricted to updates that are usually determined by a single organization or developer. The possibilities of features that can be added are endless and every individual can contribute to the betterment of the app.
Secondly, DApps are decentralized. This means that the power doesn’t rest in the hands of a centralized authority but is rather distributed to a large set of individuals. These individuals can become resource and payment partners, have voting rights, and help avoid pitfalls faced in a centralized system. Additionally, DApps don’t face any issue with downtimes as individuals can contribute their spare computing resources for the apps. Similarly, if an individual requires higher computational resources to develop, test, and run apps, they can request for the same from other users.
DApps have an exciting future. Due to the numerous benefits they bring to developers as well as users, multiple DApps are in use or being developed. DApps projects such as SAFE Network, Augur, and Storj are helping businesses across various industries. The main benefit DApps will bring is that, due to be decentralized, these apps will be more secure, flexible, and resilient than traditional apps, with no central authority to dictate the terms of app development and app use. This will benefit developers as well as users. The future is decentralized, the future is DApps.