Why dAPPS?

What are Dapps?

  • Be completely open-sourced and operate autonomously with no entity being in charge of the majority of its currency;
  • Any protocol changes that are designed to make some overall improvement must be approved by all its users;
  • Cryptographically store all of its operation data and records in a public blockchain;
  • Use a bitcoin or a cryptocurrency that is native to its blockchain system so that the cryptocurrency can be accessed for current use and any future contributions to its value from miners; and
  • Generate tokens, or cryptocurrency, which follow a standard cryptographic algorithm.

The Case for Dapps

  • Dapps economize on digital resources, providing ways to monetize what has previously been a very difficult thing to do, especially in terms of areas like the sale of content and other digital assets.
  • A decentralized application can also provide a competitive pressure that changes the pricing of digital resources for a greater range of values to serve a wider market of users. Instead of percentages we can now introduce increments such as percentages of percentages, etc.
  • Dapps are being used to establish consensus through the proof-of-work mechanisms. This reflects the amount of work that each stakeholder contributes to the dapp’s operation. The mechanism is also known as mining, or proof-of-stake, the latter being made in relation to the percent of ownership each stakeholder has in the dapp. Some companies like Peercoin use both mechanisms to establish a consensus for ensuring that no single individual is in a position to take control over the dapp.
  • Dapps serve as a mechanism for token distribution through development, fund-raising, and mining. The multiple ways tokens can be distributed offer more flexibility and opportunity than with a centralized system that is controlled essentially by one main institution such as the S.E.C.
  • Dapps offer completely new ways and processes to work and conduct transactions. For example, dapps are used to potentially enable embeddable records like smart contracts; to prevent fraud through the use of tokens; or the evolution of the function of a medium of exchange such as what is offered now by Ethereum in building distributed autonomous corporations (DACs).

Dapps in Action

Build Dapps and They Will Come

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