Blockchain has allowed developers to provide facilities in the form of a new type of application, which is not owned by a centralized authority, and moreover, nobody can shut it down.
What kinds of dApp exist?
It’s been a while since we are experiencing a new world, which its main feature is being decentralized. The thing that offers the opportunity to us is blockchain; a space in which big data are secure and too difficult to be hacked, however, it is shared.
The trustworthy shared data has allowed developers to create new possibilities; possibilities in the form of applications which are called dApps. You may wonder, “Ok then, what are these dApps?” To put it concisely, it is enough to say that dApp or Decentralized Applications are a new type of application, which is not owned by a centralized authority, and moreover, nobody can shut it down.
There would be a lot of questions in this regard, but let’s find out about the types of dApps are out there.
How many types of dApps exist?
The short answer is three. But a more specific answer would be this: Decentralized Applications can be classified into three categories based on the blockchain model that is leveraged.
Type 1: blockchain owners
dApps that have their own blockchain are put in this category. Bitcoin, Ethereum, and any other cryptocurrencies with their blockchain are considered under the category.
Type 2: protocols and layers
This branch of dApps uses the first type’s blockchain. They are mostly known as protocols and have tokens necessary for their functioning.
Binance as one of the best trading platforms, which has developed on the Ethereum blockchain is a fair example of this type.
Type 3: Using layers
these dApps use the protocols of type 2 decentralized applications. AutoFarm as a DeFi dApp is a good example of this category. As it is mentioned on its website ‘Autofarm is a DeFi ecosystem. Primarily, it offers users automated yield farming functionality. However, you will also find DEX features. Following that, Autofarm also has a portfolio dashboard for you to customize and use. The project is BSC-powered.’
After all, you may have come to this other question:
What are the main advantages of dApps over apps?
There are four features, which make big difference between dApps and apps.
– The reliable data record is one of the four main characteristics that these dApps provide. That is why users can access the public blockchain to verify various information.
– These dApps are more secure than the traditional apps. The security stems from the intact inherent records and being decentralized. Moreover, since these dApps are based on blockchain are highly secure and unalterable from hacking, incursions, and any other potential sabotage.
– Being anonymous is the other dApp advantage over the app. These decentralized applications don’t push for lengthy sign-up processes. Thus, people would be more interested in using these kinds of apps.
– Speed is the key holder in these four features. The computing processes are many times faster than traditional apps due to the absence of middlemen.
Now we are the generation who have the chance to use both dApps and apps and decide to leave the better one for the coming generation. What does your experience say?