DApps, The Future of Internet?
Updated: Aug 15, 2021
Dapps are the latest advancement in blockchain, which can disrupt business models or invent a new one.
Dapps might feel like a regular web app, however, it has some special qualities since it inherits the superpowers of blockchain. Dapps are decentralized applications that run on a decentralized network rather than a centralized server. They use smart contracts for their logic and blockchain for data storage.
A smart contract is a set of rules that live on-chain. Everyone can view it and it runs exactly according to the rules. It can hold funds like an Ethereum account and allows the code to act as the intermediary for agreements and transactions.
Dapps are controlled by the logic coded into the associated smart contract, not by a company or an individual, so you can decentralize it. Once a dapp is created and deployed on the blockchain network then you cannot change them.
"Dapps cannot be taken down once it is deployed, even if the team has disbanded it you could still use it."
What Are The Benefits of Dapps
Dapp are cracking the internet now and it is emerging alongside cryptocurrencies. It is indeed going to be the future of the internet because of its superpowers. Eventually, dapps will replace the current market places with the advancement in technology. So what are the advantages of Dapps.
No owners
One anonymous login
Backed by cryptography
No downtime
Built-in payments
Plug and play
Free from censorship
Complete data integrity
Verifiable behaviour
Privacy
Current Implications of Dapp Development
Maintenance - Dapps are harder to maintain since the data published on the blockchain is very hard to modify. If a security issue or a bug is identified, it is hard for the developers to make updates.
Network Congestion - Suppose if a dapp is using too many resources, the entire blockchain network you chose gets backed up. It may change in the future though. The network is currently not able to handle more than 15 transactions per second, if there are more transactions are being sent faster than this, a pool of unconfirmed transactions could be the result.
Centralization - Even though dapps themselves are decentralized, UI friendly and developer-friendly solutions built on top of the blockchain will seem like centralized services. Consider serving a frontend using a centralized server, or running a business logic on a centralized server before writing to the blockchain. This gives no advantages to blockchain over the traditional model.
User Experience - Creating a seamless user experience is a hard thing to achieve, at least for now. There are currently no tools that can securely interact with the blockchain resulting the losing all the benefits of blockchain over the traditional.
Performance Overhead - Scaling is really hard since there is a huge performance overhead. Every node in a blockchain runs and stores every transaction to achieve a high level of security, integrity, transparency, and reliability. This result in putting the computational overheads somewhere like 1,000,000 times that of a standard computation currently.
How We Can Help You?
WDD is a market leader in blockchain technology with a number of DeFi, Dapps, Cryptocurrency and Crypto exchange products we had created for businesses from around the world. Our aim is to disrupt the world using tradition and we believe blockchain is one to do so. For that reason, blockchain is one of our strongholds and we have created a system that no one else can match to serve our clients better in the blockchain space.
Get in touch with us today to know how we can help you to make your dreams come true.
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