Introducing Dapps: a Breakthrough in the Crypto Space

Let us introduce you to Dapps and give you an overview of what these are and how they work.

Let us introduce you to Dapps and give you an overview of what these are and how they work.

The term “Dapp” stands for a decentralized app. Similar to regular apps, they have the same functions apart from the main difference — they run on a blockchain, a peer-to-peer network. It implies that no entity or person has control over the network. There are key elements to every Dapp, namely:

  • Dapps are open-source, and they operate independently without third-party control

As the industry has matured, these features are either used all together, some of them, a combination of, or none by these apps.

The advantages of Dapps

  • Dapps are censorship-resistant. Neither governments nor people of power can control the network.

The disadvantages of Dapps

  • Dapps are prone to hacking. Since the larger part of Dapps runs on open-source smart contracts, hackers have an opportunity to probe the networks for vulnerabilities.

The potential of Dapps

Dapps are still in their infancy. Nevertheless, thousands of Dapps already exist and offer a wide array of services. Last year, Dapp transaction volume hit 12 billion dollars. Nevertheless, there is still a long way ahead, but more and more companies contact 42 Studio to receive blockchain marketing services. Prior to launching a Dapp, developers face numerous challenges, namely, security, scalability, and UX.

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