dApps
dApps

dApps

dApps is a portmanteau of decentralized applications.

dApps are apps for services or games that are on a blockchain and generally fall into one of four categories.

1. An open source app that uses blockchain technology

2. Management of the app is distributed with no centralized administrator

3. The app has a system to automatically issue, deliver, and freely exchange tokens for some value

4. The app also has a structure for users to build a consensus on updates

The basic concept of dApps is built on Bitcoin.

dApps provide a service that accurately records how much money is held by each person and a method to accurately send and receive that money. These services automatically transfer the tokens in-app.

Users of the app pay a remittance fee to the miners who record the changes in values. If the users want to increase the app’s convenience by improving these functions, it is possible for them to form a consensus for a satisfactory resolution.

The structure is built upon a blockchain, so there is no central administrator. Instead, administration is distributed multiple people.

While Bitcoin is a way to offer a financial service, Ethereum considered ways to other non-financial services.

Ethereum offers a development environment which allows for a variety of ideas to become dApps, and many have already been developed and are operating on Ethereum.

As of September 2019, by using the characteristics of blockchains, items that can not be duplicated can be owned, bought, and sold in a virtual space. Virtual currency can be earned in a game. dApps can also allow the development of services that can offer unused computing power or storage to users.

Through this, dApps offer a way to clarify ownership or copyright in the virtual space and solutions that use the concept of a sharing economy that optimizes the resources of society.