What is DApp?
An application runs on a server or computer while a decentralized application or DApp runs on peer to peer (aka P2P) network. The major difference between DApps and normal applications is that a single organization or authority does not control DApps because they are run on a blockchain. So their data is open, transparent, and cannot be altered.
The emergence of non-fungible tokens or NFTs in 2017 boomed the usage of DApps in the market. In contrast to utility tokens, NFTs are not interchangeable. They are used to create verifiable and unique digital assets. DApps and smart contracts offer many possibilities like transparency, security, digital ownership, digital scarcity, etc. These options motivated developers and blockchain experts to develop over 2’000 DApps on different blockchain networks by the first three months of 2019. The annual turnover of 1’423 DApps in 2018 was over $6.5 billion, i.e., each app’s turnover was about $4.5 million on average. We understand the powerful and booming economy of DApps better if we compare these figures with that of Apple’s App Store. The turnover of 65’000 mobile apps in the first year of Apple’s App Store was around $4.2 billion. That means an average of only $65’000 per app, around 70 times less than that of DApps figures.
DApps are indeed in their early stages of development, but these figures show how powerful and large DApps’ economy is and how fast it is growing.
DApps have many usages other than creating cryptocurrencies. Some of these usages are:
Decentralized Exchanges: IDEX is a high-performance decentralized exchange on Ethereum blockchain. IDEX consists of a fast and secure trading engine that ensures an advanced cryptocurrency exchange experience. Users get a private key that is used to authorized the transactions.
Gaming Assets: Digital assets such as CryptoKitties are collectible, unique assets owned by users. Each one of these assets is unique and cannot be replicated, taken away, or destroyed. Users can buy or sell these assets using cryptocurrencies such as Ether. Some protocols like ERC-721 are set as a standard for transactions and ownership of non-fungible assets on a blockchain that ensures ownerships and scarcity of such assets.
Decentralized Social Media: Steemit is an example of decentralized social media. The main difference between these social media with traditional ones such as Facebook is that they don’t have a centralized authority. Each user has ownership over their published content. Therefore, these types of social media ensure freedom of speech in the truest sense. Another difference is the rewards that users receive based on their contribution to the platform.
Decentralized Lottery: DApps can be used for gambling as well. For example, Etheroll is a smart contract on Ethereum for placing bets on a dice game. Thanks to the nature of the Ethereum blockchain, each dice roll’s randomness can be verified by cryptography.
Dapp.com’s Mission and Vision
Blockchains’ advantages over current internet networks, such as higher security, have increasingly raised blockchains’ adoption by developers. DApps advantages and exciting possibilities have encouraged many governments and companies worldwide to invest in blockchains to replace their traditional networks and industries with blockchain-based applications.
In this vast and growing field, Dapp.com has tried to become a trustful reference for DApps. They provide information about blockchain and DApps for users and developers. Dapp.com enables users to discover, use, and analyze DApps and stay updated in this ever-growing technology.
Introducing Dapp.com website
Dapp.com is a data-driven ecosystem for DApps and the largest DApp distribution platform in the world. It covers 18 blockchain networks and listed over 2’000 DApps that are built on those blockchains.
It is the first global platform to exclusively launch IOST, Blockstack, and TomoChain DApps. According to Dapp.com, they work with more than 50 well-known DApps such as CryptoKitties, Gods Unchained, Bancor, Kyber Network, OpenSea, etc., and publicly listed companies, like Animoca Brands. Dapp.com criteria to show and introduce DApps are trusted data analytics, users’ comments, and community reviews. The large community is a major strength of Dapp.com. It has more than 100’000 registered users, and the same number of users follow Dapp.com on different social media platforms. The outcome of this large community’s contribution is more than 5’000 reviews and comments on DApps, which eventually strengthen the liability of Dapp.com website. Moreover, around 150’000 users visit Dapp.com every month. The reports released by Dapp.com on different subjects attract thousands of readers and are covered by well-known tech media, such as TechCrunch, Yahoo, TNW, Cointelegraph, etc. All in all, Dapp.com has created a useful platform for users and developers to explore and analyze DApps and follow the latest news on this field.