The world of technology is amongst the most dynamic ecosystems as one technology rules at a point of time and the next moment it becomes obsolete. The world of apps is nothing different. Innumerable languages, frameworks, and tech stacks are available today for developing an app. Developers are constantly on the search to develop a single framework offering the best results.
The global app space is constantly evolving along with the technology ecosystem. DApps or Decentralized Applications are the latest breeds of apps that are not owned or controlled by a single authority. These cannot have downtime or be shut-off.
The Decentralized Apps
DApps are digital programs or applications that run and exist on a Blockchain or network of P2P computers in the place of a single computer. These are beyond the control and purview of a single authority.
DApps promote decentralization that makes them tamperproof and the records cannot be altered. These are based on a secure network of Blockchain. Thus, DApps are immutable from intrusions and hacks and promote a high-security level.
Chief Features of a Decentralized Application:
- Decentralized – No single controlling power
- Open Source –Accessibility of Code for everyone
- Incentive – Crypto tokens are used for rewarding network users/miners etc.
- Algorithm /Protocol – To produce tokens that incentivize participants of the network
- Blockchain –Cryptographically stored Data in a Blockchain
Classification of DApps
DApps are classified into 3 types. The classification is based on the manner of usage of Blockchain by the app:
DApps Type 1
These apps use their own Blockchain. Bitcoin is one such example.
DApps Type 2
These apps make use of Blockchain Type 1. They are required to offer tokens for rewarding the network participants. The majority of the apps based on smart contracts that use Ethereum are examples of this type.
DApps Type 3
These apps utilize protocol Type 2 for underwriting the tokens that they offer.
The real-world use cases of DApps
The first-ever DApp that was used globally was the Bitcoin and today they have infinite possibilities when it comes to real-life use cases. The three emerging segments that have promising use cases of DApps include:
- Money Transfer and Management
- Business Process Management
- Decentralized Autonomous Organization – DAO
The advantages of DApps
- Quicker and the payment is processed without the need for integrating payment gateway for accepting funds
- High level of security of data because of smart contracts governed by private keys
- Superior anonymity with no need for the users to follow the prolonged process of signup
- Trustworthy records of data as users can access the Blockchain publicly for verifying the transaction information
Enterprises and businesses require the expertise of Blockchain Developers who possesses the skill and agility for handling complex frameworks to successfully launch a DApps project. They require a reliable professional who has the experience of having successfully deployed DApps. Only then their projects can successfully implement DApps.
EMURGO has been active in the DApp development domain for quite some time now and offers specialized Blockchain expertise for innumerable and diverse industries.
EMURGO DApp Developer MasterClass – DDM
The DApp Developer MasterClass will be organized by EMURGO India on October 18th, 2020, from 5 to 8 pm, IST. This is an amazing opportunity for all those who are keen to learn developing Blockchain-based DApps.
Apart from being informed about the vital theoretical frameworks, the learners will be trained about the real-time applications of Blockchain.
A brief overview of the DDM
The immensely valuable session will discuss the significance of emerging Blockchain technologies. It will also focus on how these have become significant and their chief transformational features.
The participants will be able to understand in-depth regarding the Blockchain use cases. This will be through a few selective and highly relevant applications in both Enterprise and Public space. It will also include further insights into the underlying principles and the inherent technology. Some of these are Cryptography, Consensus Algorithms, Types of Blockchains, and the appropriate use case of diverse Blockchain solutions.
To conclude, one application each from an industrial use case and a Decentralized Application in Ethereum and Hyperledger Fabric will be showcased subject to the time factor.
The DDM significance
The attendees will be able to appreciate the current standing of the technology, its applications, and the emerging Blockchain platforms along with future perspectives. They will also be equipped with an enhanced experiential perspective, comprehension of broad strokes of Blockchain development, and the need for developing a career in this highly prospective and lucrative technology.
The current Blockchain Developers are equipped with just smart contracts application. They are lacking in holistic perspectives of testing, business logic, architecture, and design. The result is inefficient apps and thus DDM with its 360-degree approach assumes even higher significance for them.
So, all Developers, Techies, and Tech enthusiasts must ensure to keep up the date with EMURGO DDM.