What is a Decentralized Application?
What is a Decentralized Application?
Last updated: April 7, 2017 3:29 pm
Internet users don’t have sole control over the data they share on today’s websites.
Ethereum is unique in that it attempts to wield the blockchain as a way to correct what its designers believe is a problematic part of the internet’s design.
It’s like a “decentralized appstore” where anyone can publish their unstoppable apps (dapps), which unlike today’s apps (think Gmail or Uber) don’t require a middleman to function or to manage a user’s information.
Dapps connect users and providers directly.
One example is to use this design for a decentralized Twitter that’s resistant to censorship. Once you publish a message to the blockchain, it can’t be erased, not even by the company that created the microblogging system.
There isn’t one definition of a dapp, though, as it’s a newer concept.
A couple of main characteristics are that they’re open source and don’t have a central point of failure.
With this new technology out in the wild, ethereum advocates might feel electrified by the thought of decentralizing “all the things.” But the types of applications that users can build with the computing platform might be somewhat narrow.
The ethereum white paper splits dapps into three types: apps that manage money, apps where money is involved (but also requires another piece), and apps in the “other” category, which includes voting and governance systems.
In the first type of app, a user may need to exchange ether as a way to settle a contract with another user, using the network’s distributed computer nodes as a way to facilitate the distribution of this data.
The second type of app mixes money with information from outside the blockchain.
For example, a crop insurance application that’s dependent on an outside weather feed. (Say a farmer buys a derivative that automatically pays out if there’s a drought that impacts his work.)
To execute, these smart contracts rely on so-called “oracles” that relay up-to-date information about the outside world. (Though, it’s worth noting that some developers are skeptical that this use case can be done in a decentralized way.)
If bitcoin can do away with financial authorities, is it possible to do the same for companies and other types of organizations?
Decentralized autonomous organizations are one particularly ambitious breed of dapp (this is explained further in ‘What is a DAO?‘).
The goal is form a leaderless company, program rules at the beginning about how members can vote and how to release company funds and then… let it go.
Authored by Alyssa Hertig; images by Maria Kuznetsov
Article Source: http://www.coindesk.com
A Beginner’s Guide to Blockchain Technology
- Can Bitcoin Scale?
- Hard Fork vs Soft Fork
- How Bitcoin Mining Works
- How Can I Buy Bitcoins?
- How Could Blockchain Technology Change Finance?
- How do Bitcoin Transactions Work?
- How Do Ethereum Smart Contracts Work?
- How Does Blockchain Technology Work?
- How Does Cloud Mining Bitcoin Work?
- How Ethereum Mining Works
- How Ethereum Works
- How to Make a Paper Bitcoin Wallet
- How to Mine Ethereum
- How to Mine Litecoin and other Altcoins
- How to Set Up a Bitcoin Miner
- How to Store Your Bitcoins
- How to Use Ethereum
- How Will Ethereum Scale?
- What are Bitcoin Mining Pools?
- What are Blockchain’s Issues and Limitations?
- What Are the Applications and Use Cases of Blockchains?
- What Can a Blockchain Do?
- What Can You Buy with Bitcoin?
- What is a DAO?
- What is a Decentralized Application?
- What is a Distributed Ledger?
- What is Bitcoin Cash?
- What is Bitcoin?
- What is Blockchain Technology?
- What is Ether?
- What is Ethereum?
- What is SegWit?
- What is the Difference Between a Blockchain and a Database?
- What is the Difference Between Litecoin and Bitcoin?
- What is the Difference Between Public and Permissioned Blockchains?
- What is the Lightning Network?
- Who Created Ethereum?
- Who is Satoshi Nakamoto?
- Why Use a Blockchain?
- Why Use Bitcoin?
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