dApps
dApps are decentralized applications, software that uses blockchain technology and operates on a decentralized peer-to-peer networks.
dApps are also known as smart contracts, used because they automate processes, ensure transparency, and ensure the security of the transactions.
dApps allow for trustless, peer-to-peer interactions and eliminates the need for intermediaries.
dApps are disrupting traditional business processes within a wide range of industries, including finance, real estate, supply chain management.
Features of dApps
- Decentralization: dApps run on a decentralized network, allowing for trustless, peer-to-peer interactions and eliminating the need for intermediaries.
- Transparency: All transactions and processes on a dApp are recorded on a publicly-accessible ledger, providing a high level of transparency.
- Security: dApps use cryptographic algorithms to ensure the security of user data and transactions.
- Immutability: Blockchains are designed such that transactions stored on the blockchain cannot be altered or deleted, providing a permanent record of all activity on a dApp.
- Autonomy: dApps are self-governing and do not require central authorities to control their operations, allowing for greater autonomy and independence.
Example: Compound
Compound was an early innovator. Below are some important hyperlinks about Compound and the very cool innovation.
See the Compound III docs and gawk at the evidence of the programming prowess displayed.
Compound protocol has the utility of setting up Ethereum development environment, supplying assets to the protocol, borrowing assets to the protocol, create a protocol API with a provider, building a governance inferface, delegation, and voting.
In addition to Compound, check out uniswap as an innovative development of smart contracts.
Smart Contracts
A useful perspective when going over info about dApps is to focus upon smart contracts. This technology is very important when exploring the rapid financial innovation that is taking place.
The features of smart contracts include programming language like Solidity, executed on a blockchain like with the Ethereum Virtual Machine.
Read: the document published by Harvard Law School Forum on Corporate Governance entitled "An Introduction to Smart Contracts and Their Potential and Inherent Limitations" and posted by Stuart D. Levi and Alex B. Lipton, Skadden, Arps, Slate, Meagher & Flom LLP.
Managing dApps Complexity with Development Frameworks
Smart contracts are programs and when one is dealing with programs it is helpful to have another program aid in developing the program. Professional dApp programmers use development frameworks.
For example, check out the truffle development environment, which specializing in testing framework and asset pipeline for Ethereum.
For example, check out HardHat.
more
DappRadar "The World's Dapp Store"
Top Trending dApps (from CoinTelegraphy)
next info jump
Having looked at dApps info, the next jump might be to DeFi.