Dapp or Decentralized applications can be defined as “distributed open-source software application that runs on peer-to-peer or P2P network, supported by the blockchain distributed ledger”. All the data in the application are encrypted. One needs a cryptographic token to access the application. That’s the basic definition of dapp for you. But before we get any further, we must do a quick review of the blockchain factor.
Blockchain, as we know, is a ledger of data and records that are organized as interlinked blocks with cryptographic validation. The main feature of the blockchain technology is that it is neither stored nor controlled by a centralized authority or a central entity. The old records stay reserved in blocks forever, while the new ones just get added to the chain of blocks. Each block is encrypted making it tamper-proof as well.
Features of Dapp
Dapp is an opensource software that is built on the blockchain technology. Given under are the prime features that define its functioning:
Dapps are open source, meaning that it has autonomous governance and any changes made should be decided by the majority of the users.
There is no central authority to control the operations of the application. It is open to the public and has to be stored on a decentralized blockchain platform.
Dapps are heavily incentivized as all the validators are rewarded with cryptographic tokens.
The consensus involved in the application has to show proof of value or as in case of Bitcoin a Proof of Work by agreeing on a cryptographic algorithm.
Bitcoin & Ethereum
The first-ever dapp to debut the technological scene was Bitcoin, the one that introduced cryptocurrency and blockchain to the world as a whole. The legacy was gradually taken forward by Ethereum. It is often considered as Mother of dapps. Ethereum provides developers with a global platform to run their dapps. The smart contract which is a blueprint of dapp can be coded by developers on Ethereum.
So, Ethereum might have paved the way, but others followed suit providing smart contract platforms to developers to create dapps. The other noteworthy platforms are Tron and EOS, which attract a significant amount of developer activity.
Powered by the blockchain technology, dapps hold the key to a major technological evolution, one that has already started. It can very well change the entire blueprint of the way things run right now. With the big corporations embracing blockchain as a happening technology to run their operations, the future seems not too far.