Decentralized Applications (DApps)

What Are Decentralized Applications (DApps)?

Decentralized applications (DApps) are software programs that run on a distributed computing system. Unlike traditional applications, DApps do not rely on a single server or central authority for their operation. Instead, they use peer-to-peer networks and blockchain technology to create an open source platform where users can interact with each other without the need for intermediaries. This allows them to be more secure, transparent and efficient than traditional apps.

The most popular type of decentralized application is cryptocurrency wallets which allow users to store digital assets securely in a distributed ledger known as the blockchain. Other types of DApps include smart contracts, prediction markets, gaming platforms and social media sites such as Steemit. These applications have been gaining traction due to their ability to provide greater security and privacy compared to centralized services while still allowing users access to powerful features like automated transactions and trustless execution of code.

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