{"id":11065,"date":"2024-02-14T14:10:42","date_gmt":"2024-02-14T19:10:42","guid":{"rendered":"https:\/\/faisalkhan.com\/?page_id=11065"},"modified":"2024-02-14T14:10:47","modified_gmt":"2024-02-14T19:10:47","slug":"decentralized-applications-dapps","status":"publish","type":"page","link":"https:\/\/faisalkhan.com\/learn\/payments-wiki\/decentralized-applications-dapps\/","title":{"rendered":"Decentralized Applications (DApps)"},"content":{"rendered":"\n<p>Decentralized Applications (DApps) are digital applications that run on a blockchain or peer-to-peer network of computers instead of a single computer. Unlike traditional apps, DApps are not controlled by a single authority, offering a level of transparency, security, and resistance to censorship.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Where It Is Used<\/h3>\n\n\n\n<p>DApps are primarily used on blockchain platforms like Ethereum, Binance Smart Chain, and EOS, among others. They operate in various sectors, including finance, gaming, social media, and decentralized exchanges.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Why It Is Used<\/h3>\n\n\n\n<p>DApps are used to achieve a decentralized model of operation, reducing reliance on central authorities, minimizing the risk of censorship, and enhancing security and privacy for users. They utilize smart contracts for automating transactions and agreements directly between parties.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Who Uses It<\/h3>\n\n\n\n<div class=\"wp-block-stackable-icon-list stk-block-icon-list stk-block stk-a35a3e8\" data-block-id=\"a35a3e8\"><svg style=\"display:none\"><defs><g id=\"stk-icon-list__icon-svg-def-a35a3e8\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 190 190\"><polygon points=\"173.8,28.4 60.4,141.8 15.7,97.2 5.1,107.8 60.4,163 184.4,39 173.8,28.4\"\/><\/svg><\/g><\/defs><\/svg><ul class=\"stk-block-icon-list__ul stk-block-icon-list--column\">\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-cb3f673\" data-block-id=\"cb3f673\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg aria-hidden=\"true\" width=\"32\" height=\"32\"><use xlink:href=\"#stk-icon-list__icon-svg-def-a35a3e8\"><\/use><\/svg><\/div><\/span><span class=\"stk-block-icon-list-item__text\"><strong>Developers<\/strong> creating innovative applications without the need for intermediaries.<\/span><\/div><\/li>\n\n\n\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-8678653\" data-block-id=\"8678653\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg aria-hidden=\"true\" width=\"32\" height=\"32\"><use xlink:href=\"#stk-icon-list__icon-svg-def-a35a3e8\"><\/use><\/svg><\/div><\/span><span class=\"stk-block-icon-list-item__text\"><strong>Users<\/strong> looking for alternatives to traditional, centralized applications, especially in areas like finance (DeFi), gaming, and online marketplaces.<\/span><\/div><\/li>\n\n\n\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-cb70211\" data-block-id=\"cb70211\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg aria-hidden=\"true\" width=\"32\" height=\"32\"><use xlink:href=\"#stk-icon-list__icon-svg-def-a35a3e8\"><\/use><\/svg><\/div><\/span><span class=\"stk-block-icon-list-item__text\"><strong>Investors<\/strong> and <strong>traders<\/strong> engaging with platforms that offer new forms of investment, trading, and ownership.<\/span><\/div><\/li>\n<\/ul><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Who Issues It<\/h3>\n\n\n\n<p>DApps are developed and issued by individual developers or teams. Their operation and governance might be decentralized, often managed by community consensus or through decentralized autonomous organizations (DAOs).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Who Regulates It<\/h3>\n\n\n\n<p>Regulation of DApps varies by jurisdiction and depends on the application&#8217;s purpose. While the underlying technology is decentralized, certain aspects, especially those involving financial transactions, might fall under local financial regulatory frameworks.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Top Usage<\/h3>\n\n\n\n<div class=\"wp-block-stackable-icon-list stk-block-icon-list stk-block stk-7778465\" data-block-id=\"7778465\"><ol class=\"stk-block-icon-list__ol stk-block-icon-list--column\">\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-9cf751d\" data-block-id=\"9cf751d\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk-block-icon-list-item__marker\" aria-hidden=\"true\"><\/span><span class=\"stk-block-icon-list-item__text\"><strong>Decentralized Finance (DeFi):<\/strong> For lending, borrowing, and earning interest on cryptocurrency without going through traditional banks.<\/span><\/div><\/li>\n\n\n\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-482d214\" data-block-id=\"482d214\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk-block-icon-list-item__marker\" aria-hidden=\"true\"><\/span><span class=\"stk-block-icon-list-item__text\"><strong>Non-Fungible Tokens (NFTs):<\/strong> For buying, selling, and trading unique digital assets.<\/span><\/div><\/li>\n\n\n\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-1812cb9\" data-block-id=\"1812cb9\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk-block-icon-list-item__marker\" aria-hidden=\"true\"><\/span><span class=\"stk-block-icon-list-item__text\"><strong>Decentralized Autonomous Organizations (DAOs):<\/strong> For collective decision-making and governance without a central authority.<\/span><\/div><\/li>\n<\/ol><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Pros and Cons<\/h3>\n\n\n\n<p><strong>Pros:<\/strong><\/p>\n\n\n\n<div class=\"wp-block-stackable-icon-list stk-block-icon-list stk-block stk-1829fec\" data-block-id=\"1829fec\"><svg style=\"display:none\"><defs><g id=\"stk-icon-list__icon-svg-def-1829fec\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 190 190\"><polygon points=\"173.8,28.4 60.4,141.8 15.7,97.2 5.1,107.8 60.4,163 184.4,39 173.8,28.4\"\/><\/svg><\/g><\/defs><\/svg><ul class=\"stk-block-icon-list__ul stk-block-icon-list--column\">\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-d5cfb73\" data-block-id=\"d5cfb73\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg aria-hidden=\"true\" width=\"32\" height=\"32\"><use xlink:href=\"#stk-icon-list__icon-svg-def-1829fec\"><\/use><\/svg><\/div><\/span><span class=\"stk-block-icon-list-item__text\"><strong>Censorship Resistance:<\/strong> Difficult to block or take down by any central authority.<\/span><\/div><\/li>\n\n\n\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-f69303c\" data-block-id=\"f69303c\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg aria-hidden=\"true\" width=\"32\" height=\"32\"><use xlink:href=\"#stk-icon-list__icon-svg-def-1829fec\"><\/use><\/svg><\/div><\/span><span class=\"stk-block-icon-list-item__text\"><strong>User Empowerment:<\/strong> Users have full control over their data and assets.<\/span><\/div><\/li>\n\n\n\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-6aea496\" data-block-id=\"6aea496\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg aria-hidden=\"true\" width=\"32\" height=\"32\"><use xlink:href=\"#stk-icon-list__icon-svg-def-1829fec\"><\/use><\/svg><\/div><\/span><span class=\"stk-block-icon-list-item__text\"><strong>Innovation and Open Source:<\/strong> Encourages development of new financial instruments and digital assets.<\/span><\/div><\/li>\n<\/ul><\/div>\n\n\n\n<p><strong>Cons:<\/strong><\/p>\n\n\n\n<div class=\"wp-block-stackable-icon-list stk-block-icon-list stk-block stk-c18c4f7\" data-block-id=\"c18c4f7\"><svg style=\"display:none\"><defs><g id=\"stk-icon-list__icon-svg-def-c18c4f7\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 190 190\"><polygon points=\"173.8,28.4 60.4,141.8 15.7,97.2 5.1,107.8 60.4,163 184.4,39 173.8,28.4\"\/><\/svg><\/g><\/defs><\/svg><ul class=\"stk-block-icon-list__ul stk-block-icon-list--column\">\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-a6c2541\" data-block-id=\"a6c2541\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg aria-hidden=\"true\" width=\"32\" height=\"32\"><use xlink:href=\"#stk-icon-list__icon-svg-def-c18c4f7\"><\/use><\/svg><\/div><\/span><span class=\"stk-block-icon-list-item__text\"><strong>Usability:<\/strong> Can be less user-friendly than traditional apps due to the complexity of blockchain technology.<\/span><\/div><\/li>\n\n\n\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-5542c31\" data-block-id=\"5542c31\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg aria-hidden=\"true\" width=\"32\" height=\"32\"><use xlink:href=\"#stk-icon-list__icon-svg-def-c18c4f7\"><\/use><\/svg><\/div><\/span><span class=\"stk-block-icon-list-item__text\"><strong>Scalability:<\/strong> Many blockchain platforms struggle with high transaction costs and slower processing times.<\/span><\/div><\/li>\n\n\n\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-95d52f3\" data-block-id=\"95d52f3\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg aria-hidden=\"true\" width=\"32\" height=\"32\"><use xlink:href=\"#stk-icon-list__icon-svg-def-c18c4f7\"><\/use><\/svg><\/div><\/span><span class=\"stk-block-icon-list-item__text\"><strong>Regulatory Uncertainty:<\/strong> The legal landscape for DApps is still evolving, which can pose risks for developers and users.<\/span><\/div><\/li>\n<\/ul><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Examples of Usage<\/h3>\n\n\n\n<div class=\"wp-block-stackable-icon-list stk-block-icon-list stk-block stk-e835d29\" data-block-id=\"e835d29\"><ol class=\"stk-block-icon-list__ol stk-block-icon-list--column\">\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-d31322c\" data-block-id=\"d31322c\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk-block-icon-list-item__marker\" aria-hidden=\"true\"><\/span><span class=\"stk-block-icon-list-item__text\"><strong>Uniswap:<\/strong> A decentralized exchange allowing for the swapping of ERC20 tokens directly from a user&#8217;s wallet.<\/span><\/div><\/li>\n\n\n\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-099a8c6\" data-block-id=\"099a8c6\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk-block-icon-list-item__marker\" aria-hidden=\"true\"><\/span><span class=\"stk-block-icon-list-item__text\"><strong>Axie Infinity:<\/strong> A blockchain-based game where players breed, raise, and battle creatures called Axies.<\/span><\/div><\/li>\n\n\n\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-dc106d6\" data-block-id=\"dc106d6\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk-block-icon-list-item__marker\" aria-hidden=\"true\"><\/span><span class=\"stk-block-icon-list-item__text\"><strong>MakerDAO:<\/strong> A DeFi platform that allows users to generate stablecoins (DAI) against their cryptocurrency assets as collateral.<\/span><\/div><\/li>\n<\/ol><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Real-world Analogy<\/h3>\n\n\n\n<p>Consider DApps as vendor stalls in a vast, decentralized market. Unlike a traditional store in a mall (centralized applications) with a single owner and point of control, each stall (DApp) operates independently, following the market&#8217;s overall rules (blockchain protocol) without a central authority overseeing their operation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Where to Find More Information<\/h3>\n\n\n\n<div class=\"wp-block-stackable-icon-list stk-block-icon-list stk-block stk-91afe8c\" data-block-id=\"91afe8c\"><ol class=\"stk-block-icon-list__ol stk-block-icon-list--column\">\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-7f05db6\" data-block-id=\"7f05db6\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk-block-icon-list-item__marker\" aria-hidden=\"true\"><\/span><span class=\"stk-block-icon-list-item__text\"><strong>Ethereum.org:<\/strong> As the leading platform for DApps, it provides resources, documentation, and guides.<\/span><\/div><\/li>\n\n\n\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-59888a1\" data-block-id=\"59888a1\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk-block-icon-list-item__marker\" aria-hidden=\"true\"><\/span><span class=\"stk-block-icon-list-item__text\"><strong>State of the DApps:<\/strong> Tracks and ranks DApps across various blockchains, offering insights into their functionality and user base.<\/span><\/div><\/li>\n\n\n\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-5cf85bd\" data-block-id=\"5cf85bd\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk-block-icon-list-item__marker\" aria-hidden=\"true\"><\/span><span class=\"stk-block-icon-list-item__text\"><strong>Crypto news websites like CoinDesk and Cointelegraph:<\/strong> For the latest developments, launches, and trends in the world of DApps.<\/span><\/div><\/li>\n\n\n\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-d062e35\" data-block-id=\"d062e35\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk-block-icon-list-item__marker\" aria-hidden=\"true\"><\/span><span class=\"stk-block-icon-list-item__text\"><strong>Reddit and other cryptocurrency forums:<\/strong> Community discussions can offer real-world insights and reviews of different DApps.<\/span><\/div><\/li>\n\n\n\n<li class=\"wp-block-stackable-icon-list-item stk-block-icon-list-item stk-block stk-42ab36b\" data-block-id=\"42ab36b\"><div class=\"stk-block-icon-list-item__content\"><span class=\"stk-block-icon-list-item__marker\" aria-hidden=\"true\"><\/span><span class=\"stk-block-icon-list-item__text\"><strong>GitHub:<\/strong> For those interested in the development side, exploring DApp repositories can provide technical insights and code examples.<\/span><\/div><\/li>\n<\/ol><\/div>\n\n\n\n<p>These sources offer a mix of technical information, user experiences, and the latest news, essential for anyone looking to explore the world of decentralized applications further.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Decentralized Applications (DApps) are digital applications that run on a blockchain or peer-to-peer network of computers instead of a single computer. Unlike traditional apps, DApps are not controlled by a single authority, offering a level of transparency, security, and resistance to censorship. Where It Is Used DApps are primarily used on blockchain platforms like Ethereum, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":3611,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_uag_custom_page_level_css":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"blocksy_meta":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","gb-block-post-grid-landscape":"","gb-block-post-grid-square":"","yarpp-thumbnail":""},"post_excerpt_stackable":"<p>Decentralized Applications (DApps) are digital applications that run on a blockchain or peer-to-peer network of computers instead of a single computer. Unlike traditional apps, DApps are not controlled by a single authority, offering a level of transparency, security, and resistance to censorship. Where It Is Used DApps are primarily used on blockchain platforms like Ethereum, Binance Smart Chain, and EOS, among others. They operate in various sectors, including finance, gaming, social media, and decentralized exchanges. Why It Is Used DApps are used to achieve a decentralized model of operation, reducing reliance on central authorities, minimizing the risk of censorship, and&hellip;<\/p>\n","category_list":"","author_info":{"name":"Faisal Khan","url":"https:\/\/faisalkhan.com\/author\/nomismad\/"},"comments_num":"0 comments","featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","gb-block-post-grid-landscape":"","gb-block-post-grid-square":"","yarpp-thumbnail":""},"post_excerpt_stackable_v2":"<p>Decentralized Applications (DApps) are digital applications that run on a blockchain or peer-to-peer network of computers instead of a single computer. Unlike traditional apps, DApps are not controlled by a single authority, offering a level of transparency, security, and resistance to censorship. Where It Is Used DApps are primarily used on blockchain platforms like Ethereum, Binance Smart Chain, and EOS, among others. They operate in various sectors, including finance, gaming, social media, and decentralized exchanges. Why It Is Used DApps are used to achieve a decentralized model of operation, reducing reliance on central authorities, minimizing the risk of censorship, and&hellip;<\/p>\n","category_list_v2":"","author_info_v2":{"name":"Faisal Khan","url":"https:\/\/faisalkhan.com\/author\/nomismad\/"},"comments_num_v2":"0 comments","yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.6 (Yoast SEO v22.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Decentralized Applications (DApps) - Faisal Khan<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/faisalkhan.com\/learn\/payments-wiki\/decentralized-applications-dapps\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Decentralized Applications (DApps)\" \/>\n<meta property=\"og:description\" content=\"Decentralized Applications (DApps) are digital applications that run on a blockchain or peer-to-peer network of computers instead of a single computer. 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