DApp, Decentralized Application
🙈Dictionary meaning: decentralized application. Apps that operate on a decentralized blockchain platform
🙉To put it simply:
- A central organization like a bank does not manage my property and personal information, but a network distributed around the world manages pieces of data together!
- Thanks to this, only I can look up and have rights to my intact data, and thanks to this, I can trade assets or data between individuals or between companies!
Why is dApps important??
In addition to the exchange, through the DApp, there is a window to utilize the coins you have!
For example, within the exchange, assets cannot be used for anything other than buying and selling, but in the Web3 world, you can use and invest in various places as shown below!
- De-fi: Financial applications such as depositing, borrowing, or lending virtual assets. You can manage it entirely within the DApp in your wallet, without having to accompany bank or card transaction activities!
- Loans: To give or receive cryptocurrency loans through smart contracts
- Decentralized Exchange (DEX): An exchange where users exchange digital assets person-to-person
- Derivatives: To earn profits through derivatives with smart contracts
- Market place : A trading platform to buy and sell NFT, an asset available on the web3