Decentralized Applications | Everything You Need To Know
The blockchain evolution goes fast nowadays. Since the launch of Bitcoin, blockchains have integrated new functions and ways of its usage. DApps were built to enhance the existing technologies of blockchain.
Definition Of DApps
A decentralized application (DApp) is a digital application or program that runs on a blockchain or peer-to-peer (P2P) network of computers instead of a single computer. It looks and works similar to regular mobile apps. DApp has a wide range of services and functions.
Decentralized means that these apps are outside single authority control. DApps are built on a decentralized network supported by a blockchain-distributed ledger.
The main features of the DApps are:
✔️Open-source. It means anyone can use, copy, verify or modify the source code of DApps. As it’s decentralized, no organization behind it controls its coins or tokens.
✔️Decentralized and cryptographically secure. Data stored in the DApp is encrypted and stored on a public, decentralized blockchain, maintained by multiple users (or nodes).
✔️A tokenized system. DApps allow developers to use coins as BNB, ETH or generate a native token using blockchain consensus mechanisms. The token can also be used to reward contributors such as miners and stakers.
How Do They Work?
As it was mentioned earlier, DApps run on a blockchain system. They are powered by smart contracts. A smart contract works as a set of rules enforced by computer code. Once the specific conditions are fulfilled, certain tasks will be performed on the network.
The thing about smart contracts is that their codes can not be changed or destroyed. So, you will have access to DApps even if the team behind them is dismissed.
DApps most popular use cases are GameFi, DeFi, entertainment and governance.
Advantages Of DApps
Let’s find out what benefits using decentralized applications has:
💡User privacy. There is no need to submit personal information to start using DApps. All you need is a crypto wallet connected to the DApp. That is why users control all the data they share.
💡Risk reduction through decentralization. In contrast to DApps, centralized systems are easier to disable. A single compromised server can block the entire application network, rendering it temporarily or permanently unusable.
💡Flexibility of platforms. Using smart contracts, the developers can integrate cryptocurrencies into their core functionality.
For example, DApps on BNB Chain can adopt the BNB payment method without integrating payment providers.
Biswap As A DApp Model
As you can see now, Biswap Dex is a wonderful example of the financial DApp. There is no third party between users, so with the help of smart contracts, they can quickly transfer their assets with one another.
Biswap is a TOP 2 DEX on BNB Chain & it offers its users the special ability to:
💰Exchange TOP crypto with the lowest fee of 0.1%
💰Gain Up to 70% fee return
💰Make quick & safe transactions
Enjoy the freedom of swapping with Biswap:
And that’s not all!
Biswap is also the first decentralized exchange platform on the market with a unique Multi-type Referral Program.
Users have a possibility to gain more crypto from friends’ earnings:
⭐️Up to 20% BSW via Swap’s Commission
⭐️5% BSW via Farms
⭐️5% BSW via Stake BSW Launchpools
Visit Biswap Dex to try it yourself and to start increasing your profit!
To Sum Up
So, decentralized apps are running on blockchain networks. They work on smart contracts and provide their users with a variety of use cases. DApps have plenty of benefits, such as user privacy, reduced risk of breakdown and flexibility.
Try Biswap to explore all the profitable offers of DApps!
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