BUILDING DECENTRALIZED APPLICATIONS WITH WEB 3
Decentralized applications(dApps) are computer programs that run on a peer-to-peer(P2P) network of computers or a blockchain network. It makes it possible for users to transact with one another without the need for a centralized authority.
EXAMPLES OF dApps
Uniswap
Opensea
Brave
Pancakeswap
Crypto kitties
Maker DAO
Chainlink
Bit Torrent
Aave
Chain yard
1 inch and many others.
USES:
Finance: dApps can be used to facilitate peer-to-peer financial transactions like exchange of currencies.
Healthcare: Some hospitals now store patients data on the blockchain. dApps can be used to store and track this healthcare records and keep them from being tampered with.
Identity verification: this apps can also be verify identity information. This is applied in voting systems.
Social media: Decentralized social media networks can be built with dApps, letting users to communicate and share content without relying on a centralized authority.
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Education: learning platforms can be created with dApps to allow interactions between teachers and students.
Benefits of dApps
Decentralization: Activities performed on this application are free from the control of a single body.
With the help of smart contracts, users don't need to provide their personal data, smart contracts are used by the decentralized applications (dApps) to complete transactions without the need of help from central authority.
Limitations of dApps:
Difficulties in modifying codes:
Dapps can be difficult to maintain because the code and data saved to the blockchain are hard to change. This has made developers faced with the challenge of updating the applications.
Exposure to cyber attacks:
Some people now use decentralized applications to that have commit scams and attacks, some set up fake websites and share links to trick people into revealing sensitive information.
User experience: Users might find it difficult to get used to this applications because there's need to understand how to set up a tool stack in order to get familiar with the blockchain in a secured way.
On a final note, the need to create a Web3 cluster is growing rapidly along with the development of cryptocurrencies and blockchain technology. Industry professionals are developing creative DApps that can assist the decentralized web’s capabilities and make it more independent, safe, and secure.
