One of the things that I have seen that the world of technology have experienced is the rapid rise of the Blockchain technology and the Decentralised application which is called DApps. Over the years, those applications have come to set benchmark to be the way we interact with data most especially the data control and also generally the digital space. These are different from the usual traditional applications that only depend on the centralised authorities to function.
Come to also think of it, let me start by explaining what are really Decentralised applications. When we talk about Decentralised applications which is called DApps, they are software programs that run on the Blockchain. There are lots of features that made up the dApps which includes Decentralisation, Security and many more. They make use of something called the cryptographic principles.
When talking about the aspect that the dApps is been used, it is used firstly for Decentralised Finance. What do I mean by that with the dApps, there are now avenue for users in the crypto space been able to carry out some financial services like Lending, borrowing, staking, yield farming and many more. We now have a lot of platforms like Uniswap, Pancakeswap and many more that allows these financial services to be carried out. One of the things that give edge is that the transparency of those platforms allow it to be used effectively and helps the financial transactions to be much more secured.
The second aspect that I believe strongly that the dApps is been used is in the aspect of Gaming and Nfts. In the past years, there was a rapid hype and trend that surround the Nfts world and it looks like suddenly it died down. We are now having dApps that encourages games to be carried out on the Blockchain space. Recently, even Nfts is spreading and going beyond just gaming but even much more than that.
The last aspect I will like to talk about is the aspect of the social media and content platforms. Social media is the future of the digital world and with dApps, we are now having the introduction of social media to the Blockchain space. Over the years, we just know the Blockchain to be just for crypto but now it is looking beyond that as we are now having more and more developments lately. With dApps, there are now social media platforms that is been allowed on the Blockchain space operating using the Decentralised nature. Example like Steemit is a perfect example of social media platforms on the Blockchain using the dApps.
Decentralised applications is actually shaping the world and a lot of sector around even beyond the digital space and I am so sure this is just the beginning. We will have more transparency, security and user having full control in years to come. Even though it might be having a lot of challenges right now but I am so sure it is just a matter of time before we overcome those challenges because the technology world keeps evolving day by day actually.
