Decentralized Application is popularly known as DAPP. generally, DAPP has backed code that runs on a decentralized peer to peer network. DAPP also have front code while user interfaces write in any other language that can make known of its backed.
|No||Table of Content – DAPP (Decentralized Application)|
|1.||What is DAPP|
|5.||How to Build DAPP|
|6.||How to take participate in ICOs|
What is DAPP?
In simple language DAPP has its backend code running on a decentralized peer to peer network, contrast with this an application where the code is running on centralized servers. A DAPP can have fronted code and UI written in various language that can make calls to its backend. Moreover, fronted can be hosted in decentralized storage such as Swarm and also IPFS. Normally, DAPP associates with the cryptocurrency like Ethereum projects and users of the network don’t depend on a central computer for send-receive information.
In DAPP meet the criteria
- Open source -: Source code of app is available to all user those who want
- Decentral -: Use blockchain-like cryptographic technology
- Incentive-: Application has crypto-tokens for fueling itself
- Algorithm-: generates tokens and has an inbuilt consensus mechanism
- Type 1:- These types of DAPP have their own blockchain e.g. Bitcoin and other altcoins also fall in this category
- Type 2:- DAPP use the blockchain of Type 1 DAPP. Type 2 decentralized applications are protocol and also have tokens that necessary for their function.
For example:- The Omni Protocol
- Type 3:- These Type of DAPPS use the protocol of a Type 2 DAPP
For example:- For safe network uses the Omni protocol for issue safe coins used to build distributed file storage.
A decentralized data storage and communications network
Here are listed some of DAPP projects that crypto lover should know.
|Action||Description||Type Of DAPP||Token||Blockchain|
|Safe Network||A Decentralized Data Storage and Net Communication network||Type 3||SafeCoin||Bitcoin’s Blockchain|
|Augur||A fully open source||Type 2||Augur (REP)||Ethereum Blockchain|
|Factom||Decentralized unalterable record-keeping system||Type 1||Factom(FCT)||Private Blockchain|
|Golem||First global market for idle computer power||Type 2||Golem(GNT)||Ethereum
|Siacoin||Open Source – Private Cloud||Type 2||Siacoin(SC)||Private Blockchain|
|Storj||It’s a decentralized peer to Peer protocol to provide the most secure-safe & Private cloud storage||Type 2||Storjcoin X
DAPP function implementing and supporting all the criteria e.g. Open source, Decentralized, Incentive and Algorithm that mean overall DAPP is an Open source software platform implemented on decentralized blockchain using tokens which generate using protocol or algorithm.
Added to that open source application makes it unique decentralized as many can see and contribute to code and the process for scalability of product development in the base of unique quality and quality.
Decentralizing the application by use of blockchain in next step, and blockchain do like a permanent ledger of some transaction which anyone can refer in any time.
Overall, to add records and transaction to such of some ledger, tokens are used which are mined using differ algorithms or protocols, to add records/transactions to such of ledgers, tokens are used which are mined or pre-mined using different algorithms/protocols.
As of now, the famous protocol which uses in proof of work and stack, and uses to reach the agreement between all the users for particular DAPP.
- Proof of work:- Proof of works entails miners to mine blocks and receive some of the rewards because of mining blocks and add them into the chain is an energy consumptive process that keeps the blockchain safe.
- Proof of stack:- POS require hold and stack of tokens in order to become a better eligible master node and it’s also a safe and secure process of the transaction.
The process of building is not an easy task or not as straightforward as developing any of centralized apps.
Here are some steps that to build apps
Create a whitepaper:– Your whitepaper should address a problem that you want to solve it and mind that the result that you want it’s an intention of the Dapp. say or describes the planning of Dapp’s token distribution and how you intend to do about doing it and planning and establishing consensus, management, and development team.
- Grow up following:- Do some discussion, plan and create some form of community, feedback ideas, group chat, and talk about ideas of a plan.
- Start a crowd-sale:- When the Dapp has grown our enough target, and decide on a fixed date to receive token funding, the Dapp’s crowd sale website should have maximum information that investor want.
- Collect your ideas for accomplishment:- Do better to best and start to develop and take new developer those who have an interest in developing.
How to take Participate in ICO
if any user wants to try in Dapp’s token in ICO, Here are some steps that you can follow especially for ICO.
- Be Update and Upgrade:- User must follow the most famous crypto and DAPP news and article, and always try to join and chat with use of slack or telegram and twitter also for latest information of ICO.
- Use Wallet:- User should be read in ICO briefly and deeply and some other technical requirement which wallet should use for ICO specially and also know the which cryptocurrency to buy your tokens for Bitcoin, Ethereum etc.
- Time Factor:- various ICO’s list are different time according to different time zones so check your time zone and be on the fixed time, some few ICOs in the recent time that finished in less than a few minutes so you have to clear about your ICO and time. But you have to clear ideas to be careful on fake ICOs that look only better in the paper.
- How to Analyze ICO:- You have to know about the DAPP’s ICO is valid or not you have to validate about all this ICO. user have some points to remember before you judge on DAPP’s ICO.
- Check the portfolio and history of a development team
- Take some advise those who expert in ICO
- Check and know that DAPP is solving the real-life problem
- Check and validate development roadmap
- Check white paper and about its technical prospects
- Research and development
- Join and take participate in forums to check what the technical expert about DAPP
- These are some of the points, there are many other points to remember and research before getting into any ICO for DAPP.