dAPPs

“the world of decentralized applications”

Decentralized applications are APPS that run on blockchain technology. They’re permissionless, open-source, and allow the use of cryptocurrency to perform a wide variety of unlimited applications.

Current Mobile phones have different apps. example GMAIL, FACEBOOK, INSTAGRAM. At the backend, the applications run codes that were designed to run and interact with the designated DATABASES of a specific company.

dAPPS, have interactions similar to those companies Apps, except instead of reporting back to the company's servers, dApps report back to the blockchain that interacts with applications. Depending on the blockchain platform, dApps are also used by small and large businesses to track and trace goods as they move around the globe and enable cross-border financial transactions without the need for a middleman.

EXAMPLES OF dAPPs IN THE WEB

Chainlink This secure middleware is promoting an open standard for a secure, decentralized data input system that validates information from external feeds. In short, Chainlink offers any smart contract secure access to data feeds, APIs and payments. Chainlink, which can connect to any API, can be used to validate money transfers from a bank or any number of other industry financial players.

4Gcapital provides instant access to credit for small business growth in Africa, and has developed a concept dapp for the use of smart contracts. Donors would be able to use the dapp to fund small businesses in Kenya using digital currency. The money lent would be converted and disbursed to the businesses using 4G Capital’s transactional system. Its vision is to empower individuals, businesses and markets by delivering financial inclusion and supporting change across Africa from the grass roots level.

Eth-Tweet is a decentralised microblogging service running on the Ethereum blockchain. It provides basic Twitter-like functionality to tweet messages of up to 160 characters. Being decentralised means no central entity controls what is being published, and once a message is posted, it can only be removed by the publisher.

WeiFund uses Web 3.0-enabled technology to provide a crowdfunding solution on the Ethereum ecosystem. Web 3.0-enabled browsers will come with their own wallet systems, so that payments made on WeiFund to start and contribute to campaigns are carried out in a “secure and verifiable way”.

KYC-Chain In the digital age, the increasing risk of financial crime arising from fraud and identity theft demonstrates the importance of a reliable means to safeguard the individual’s identity. The service, which is currently under construction, utilises existing know-your-customer (KYC) regulations, and plans to bring “ease and simplicity” to the process of identification for businesses wishing to onboard new customers.

Benefits of dAPPs

1.dAPPs can only be built on smart contract networks

2.codes on dAPPs are open source which means anyone can look at the code. This allows alot of moree trust to be give to the application.

3.Censorship resistance i.e. there is no control from government institution or financial corporation.

4. They will never go offline since it runs on a blockchain environment.

“the world is decentralizing”