Decentralized applications - extrimian/documentation GitHub Wiki
Decentralized applications
If you've found RSK Enterprise Cloud, then you've almost certainly heard of a “DApp” – or Decentralized Application.
Decentralized applications (DApps) are digital applications or programs that exist and run on a blockchain or P2P network of computers instead of a single computer, and are outside the purview and control of a single authority. It can also be seen as a computer application whose operation is maintained by a distributed network of computer nodes, as opposed to a single server.
DApps are typically open-source, decentralized, incentivized through providing tokens to those who validate the DApp, and in compliance with a specific protocol agreed upon within the community. They run on top of distributed computing systems such as Ethereum or Bitcoin. Decentralized applications are stored on and executed by a blockchain system.
From finance to business and game production, DApps have many industries they can be applied to.
DeFi DApps
Blockchain-based financial applications (DApps)are currently being applied in decentralised finance (Defi), which began with the invention of Bitcoin but has grown to include all financial operations.
Users can use DeFi DApps to:
- Users may deposit or borrow funds from anyone by using DeFi DApps.
- Trade coins or collect money in a bank account without a central broker
In new blockchain ecosystems, DApps are a very different kind of application from the traditional applications which don't have single points of failure, can't be turned off, and are not owned by a sole authority.
You can read more to understand how DApps work on our blog post.