Blockchain technology is an ingenious invention that has changed the pace of many business industries. Blockchain was first introduced as the core technology behind Bitcoin, the first and the most popular decentralized digital currency in the year 2008. Today, Blockchain has evolved far beyond Bitcoin and is put to test in a wide range of businesses and financial applications. The main characteristic of blockchain technology is allowing customers to conduct trades directly peer-to-peer, without involving any third party. The tech zone is rapidly evolving at an overwhelming rate with new trends approaching each day. DApps is one such invention that emerged with the evolution of blockchain technology. DApps were brought to light, to make the use of blockchain technology more accessible and convenient to the customers from various industries. If you are a beginner, you must already be wondering what DApps are. And, how is DApps development helpful in improving your business value? Let’s find out.
What are DApps? How popular are they?
DApps is the acronym for decentralized applications, which are currently trending software applications, that are not owned or controlled by any central authority. DApps applications run on a distributed network, and hence, a single source failure will not result in the entire system shutting down.
The number of DApps applications in the market is rapidly increasing every day. Most of the DApps are based on blockchain networks such as Ethereum, EOS, POA, GOChain, and Steam Blockchain. As per the estimation of the year 2019, the number of DApps increased to 2,432 with 180 new DApps being released each month. The interesting fact here is that, out of these 180, about 150 of them are built on Ethereum Blockchain, which boasts a larger developer community. The most number of DApps game is used for games which are about 60% and the most popular DApps game is CryptoKitties. To date, there are about 478 DApp games with users exceeding 29,000.
How is DApps different from mobile apps? What benefits does it offer?
The major difference between DApps and other mobile apps is that DApps operate on a distributed, p2p network to host its modules, but mobile apps function based on a single server. Here’s the list of benefits DApps offer, unlike other mobile applications.
The traditional mobile applications require a trusted third party to store and secure their financial transactions. But, DApps applications remove the need for a third party as it allows to store the value directly inside the application. One of the significant benefits of DApps is the wide capacity of storage value it offers.
All of the apps on the blockchain network are compatible with each other, to some extent. DApps work based on a distributed network and they integrate with each other easily. They have possibilities of colliding with each other for better functionalities compared to conventional mobile applications.
No single point of failure
As mentioned earlier, DApps function over a multitude of distributed networks. Hence, they are less prone to chances of failure as compared to mobile applications that work depending on a single server. Even if a single network becomes faulty, the application will still continue to run with the support of other multiple networks connected.
DApps have better sustainability over traditional mobile applications. Once you put your app up in the network and its data, it remains there forever, unless thousands of blockchain users unanimously decide to remove it.
Transparency and immutability
DApps run on a blockchain that is immutable in nature, i.e transactions once recorded on the blockchain cannot be altered or removed. Also, the transaction information is transparent to every user connected with the network.
How to develop a DApps application? What are the essential elements?
MVP ( Most Valuable Player) consultation
You have to deeply analyze the market needs and structure your DApps in a way it meets them and fits the current business model.
Intuitive and user-friendly interface
Your DApps should possess a user-friendly and intuitive interface to attract customers and help them with efficient business experience.
Flexible storage capacity
You have to carefully analyze and choose the right decentralized network that will provide a secure, and enhanced cloud storage facility to the users.
The decentralized application should be highly scalable and should be portable to any blockchain network.
If you ask how to go about developing your DApps application, the better choice is to hire a blockchain DApps development company. With the high demand and popularity currently for DApps, there is a multitude of companies offering solutions for the development of DApps. To make your application robust and sustainable over the long term, conduct extensive research, and choose the right platform.
DApps are here to stay and are going to take your business to a whole new level with its added benefits. They are already revolutionizing the digital business world and rumor says that they are the future of applications, So, choose your company today, develop your DApps and make use of this lucrative business opportunity.
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