DApps - to transform the mobile App development industry
Imagine an application that doesn’t run on one server but harnesses the excess power of thousands of computers globally and that can be controlled by business automation software that ensures if a specific parameter is met, only then can a function be carried out.
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.
The purpose of DApps is to help app users safeguard their personal information throughout the transaction process. Another purpose of DApps is to reward users for generating content on social media platforms.
Decentralized apps or Dapps don’t need a mediator to function or manage our information. It connects users and providers directly. So nobody else can penetrate our data.
Will DAPPs Transform The Mobile App Development Industry?
DApp proponents tend to believe that everything a conventional mobile application can do, a decentralized application can do better. DApps have already made inroads into various industries like the healthcare, education, real estate and the legal field and it will soon have a great impact on the entire economy that surrounds the mobile development.
Changes are getting visible in the existing mobile business models so as to become more customer centric and respect the user privacy.
To be more precise, let’s have a look at some of their core benefits.
The overall nature of decentralized applications provides for greater levels of security, in general. Because the DApp is supported by a distributed ledger, a potential attack would have to successfully target the majority of it. In a lot of cases, attacking the network is more expensive than protecting it, hence why the security is naturally elevated.
Transactions that take place on the blockchain, as well as any information logs, are easily verifiable. If it’s a public ledger, everyone can take a look. If it’s a private ledger, everyone within the organization can.
Superior Involvement of Community
As we mentioned above, DApps tend to be open-sourced. Moreover, depending on the consensus algorithm of the network, users can take part in the governance of the DApp and it’s in the community’s best interest to participate and produce actively.
Game Changing DApps
There are already many Dapps in finance, trading, healthcare, media, and games. In 2021 Dapps will enter all other arenas as well. In short, the revolution of blockchain application development is right around the corner and will be among the latest trends in mobile apps.
Depending on the blockchain platform, dApps are also used by small and large businesses to track and trace goods as they move around the globe and enable cross-border financial transactions without the need of a middleman such as a central bank or clearing house.
The following is a list of some of the game-changing dApps.Both business and consumer , Some were chosen because of popularity, others because they are innovative and feature rich.
This secure middleware is promoting an open standard for a secure, decentralized data input or “oracle” system that validates information from external feeds.
This dApp and consultancy is striving to solve problems with Supplier Information Management systems, which today are slow, inefficient and unable to adapt to new requirements quickly. Chainyard, a permissioned blockchain-based network, is designed to improve supplier validation, onboarding and life cycle information management.
A web browser with almost 9 million active users, Brave is attempting to turn the online advertising model upside down by putting consumers in the driver's seat. The app creates a new measure of value in the advertising world where “consumer attention” is used to set value more than unverifiable views or clicks on a webpage, Gartner said in its Cool Vendors in Blockchain Applications report.
The track-and-trace platform enables users to secure deliveries, manage payments and check provenance of raw materials, and provides a host of other features, making Circulor designed for real-world complexity.
EOS Dynasty, which has nearly 12,000 unique daily users, claims to be the first role-playing, player-versus-player (PvP) game based on blockchain.
The dApp created by AID:Tech connects charitable organizations and donors to beneficiaries. It hopes to give donors peace of mind that their funds will be used for the intended purposes by those in need, whether it’s for buying groceries or utilities, rather than alcohol, etc., according to Piekarska-Geater.
A decentralized credit service that runs on the Ethereum blockchain platform, MakerDAO supports Dai, a stablecoin whose value is pegged to the U.S. dollar.
Cipher is middleware that supports a portfolio of four blockchain dApps for government agencies and regulators in different regions; it includes a reconciliation and settlement network, tokenization of loyalty points, a procurement payment network and a document-exchange, verification and compliance network for banks and their customers.
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