Decentralized Applications (DApps)

Understanding Decentralized Applications (DApps)

Decentralized Applications (DApps) are computer applications that operate on a distributed network of computer-nodes, rather than relying on a single server.

The development of decentralized applications became possible with the emergence of blockchain platforms that support smart contracts, with Ethereum (ETH) being the first of its kind. Ethereum is not only a cryptocurrency but also incorporates the Ethereum Virtual Machine (EVM), which can be described as a distributed computer. The EVM’s state is defined through a consensus algorithm.

The EVM is Turing-complete, meaning it has the capability to perform any operation that a regular computer can. It has its own programming language called Solidity, which allows developers to code and run decentralized applications on the EVM.

DApps provide the same level of service as traditional applications while taking advantage of the benefits of decentralization, such as high uptime and resistance to censorship and corruption.

There are numerous successful DApps with significant market capitalization and active user bases. Examples include Augur (REP), a platform for prediction markets, Golem (GNT), a marketplace for idle computer power, and Basic Attention Token (BAT), a blockchain-based platform for digital advertising.

Aside from Ethereum, other popular DApp platforms include Neo (NEO) and NEM (XEM).

Decentralized Applications (DApps)

Understanding Decentralized Applications (DApps)

Decentralized Applications (DApps) are computer applications that operate on a distributed network of computer-nodes, rather than relying on a single server.

The development of decentralized applications became possible with the emergence of blockchain platforms that support smart contracts, with Ethereum (ETH) being the first of its kind. Ethereum is not only a cryptocurrency but also incorporates the Ethereum Virtual Machine (EVM), which can be described as a distributed computer. The EVM’s state is defined through a consensus algorithm.

The EVM is Turing-complete, meaning it has the capability to perform any operation that a regular computer can. It has its own programming language called Solidity, which allows developers to code and run decentralized applications on the EVM.

DApps provide the same level of service as traditional applications while taking advantage of the benefits of decentralization, such as high uptime and resistance to censorship and corruption.

There are numerous successful DApps with significant market capitalization and active user bases. Examples include Augur (REP), a platform for prediction markets, Golem (GNT), a marketplace for idle computer power, and Basic Attention Token (BAT), a blockchain-based platform for digital advertising.

Aside from Ethereum, other popular DApp platforms include Neo (NEO) and NEM (XEM).

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