dAPPS (decentralized applications) are blockchain based applications which aids users to communicate and interact freely with each other without the need for intermediaries, hence communication is done in a decentralized manner, outstandingly different from Web 2.0 right. Before now, applications were built and connected to massive centralized databases leading to one central authority, thus, user data were being collected and controlled by will. That was then, now reverse is the case, how? You may wonder, Yep, I'll say dAPPS is the answer but then let's see how dAPPS differs greatly from Web 2.0 applications
Unlimited access to trade
your assets during normal market hours
With a steady internet connection and crypto wallet,transfer of funds could be done to anyone and anytime, Web 2.0 does not offer this avenue
One could borrow against his/her crypto assets or lend them to others instead and earn interest which comes in form of crypto rewards
So we all can see that indeed Web 3.0 comes with lots of benefits making digital experience worth the pleasure and fun
dAPPS like Defi, non-fungible token(NFTs) marketplaces, blockchain orientated gamings offer new ideas and means to aid interaction via digital assets and services in an environment free of trust issues and central authority
Let's now review keenly how dAPPS plays an important role in Web 3.0
Blockchain technology is well decentralized and these dAPPS are built on a platform as this thus rather than relying on a single central server, dAPPS operates on a network of computers which is globally distributed. With decentralization, there's improved security and of course trust is promoted amongst users
Immutable and transparent ledgers are used to record transactions and data on blockchain hence building trust among users as verification of information is done independently without the requirement of intermediaries.
With dAPPS, users have complete control and authority over their data and digital assets. Unlike traditional web applications whereby data and information are collected and controlled by a body of central authority
Varieties of dAPPS employ tokens and cryptocurrencies as part of their functions. These tokens could represent different assets like collectibles, access rights or governance in decentralized team. With tokenization, new economic incentives are enabled and enhanced in the ecosystem
Web 3.0 are designed in such a way that they have the ability to communicate and exchange data with other decentralized applications and protocols. Many dAPPS could be combined to create complex systems and services thus enhancing innovation and partnership with the Web 3.0 blockchain
Varieties of dAPPS are developed collectively as open source projects thus a worldwide community of developers are encouraged to contribute their own little quota to the growth and development of such projects. Collaboration when it comes to innovation determines an efficient and improved continuous development
With dAPPS, there's less need for middlemen in industries like finance, content distribution and supply chain thus leading to less costs and increased efficiency. dAPPS has automatically decreased or eliminated the services of intermediaries in the interaction process between two or more parties as these things could be done directly even without physical contact
Due to the way it is designed, Web 3.0 promotes data privacy and security. With cryptographic techniques, user privacy is enhanced, dAPPS are known for being resilient as it has many backups should incase one gets lost or damaged, with global decentralized network of nodes of which dAPPS are hosted with, it could be said that dAPPS are capable of storming through single pointed failures
Due to the fact that dAPPS works on decentralized platforms, they rarely fall victim to censorship especially when certain applications carry very sensitive information or operates strictly on the regulations and rules by the internet. Its resistance to censorship means that it could not be influenced by a particular group or its opinions controlled by a central authority
dAPPS accessibility is never restricted or limited to a certain globe, this means that decentralized applications could be accessed by all no matter their location. Thus, inclusivity and financial access is granted and enhanced
dAPPS are the main characteristics of Web 3.0 as they are well decent, trust oriented and open to new ideas/innovations. With dAPPS, Web 2.0 traditional platforms which consists online gaming, social media etc are being absorbed and new innovations introduced
But then these decentralized applications also face several challenges. Of course, everything has it's own problems, what are these challenges? Let's check them out together:
*Scalability: Some blockchain network gets congested thus becoming scalable, when this happens, there are high chances of very slow transactions and costs(fees and dues)
*User friendly environment:It could be very difficult at times to create an interface that's user-friendly especially among non technical users
*Interoperability hindrance: Some dAPPS and blockchain are not interoperable this indirectly hindering the exchange of data and information between two or more parties
*Insecurity: Some dAPPS are vulnerable to attacks, fraud, hacks and financial losses especially when linked to smart contracts. Hence, dAPPS development must be security oriented.
*Strict Regulations: Complex regulations and laws governing various countries when it comes to blockchain technology could legally be challenging for users in their quest to carry out certain technical activities
*Maintenance and sustainability: dAPPS update and maintenance strategies could be resource intensive, time consuming and tasking. Finding the right models to aid in the funding process could be very difficult
*Data privatization: Since transactions are public, it could be challenging to balance transparency in blockchain with data privatization
*Governance: Making decisions on decentralized platforms by governing bodies could be slow thus making changes and upgrade implementations could be very difficult
Paying proper attention to the challenges above and endeavouring to address them speedily is a criteria for progressive growth and success of decentralized applications on the Web 3.0 ecosystem. dAPPS has played a vital role in blockchain technology, it's ability to make the ecosystem worth engaging is alluring but then it keeps undergoing upgrades to further ensure it's efficiency, let's make the best use of dAPPS and find the pleasant feeling attached to each of them
