This article needs to be updated.(March 2021)
DApps have their backend code running on a decentralized peer-to-peer network, as opposed to typical applications where the backend code is running on centralized servers. A DApp can have frontend code and user interfaces written in any language that can make calls to its backend. Furthermore, its frontend can be hosted on decentralized storage such as Swarm[when defined as?] or IPFS.
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.
A list of DApps can be found on various cryptocurrency data analytics platforms.
DApps have been utilized in decentralized finance (DeFi), which revolves around dapps that perform financial functions on blockchains, a technology that was invented for Bitcoin but has since caught on more broadly.
DeFi DApps allow users to:
- Lend or borrow funds from others.
- Go long or short on a range of assets.
- Trade coins or earn interest in a savings-like account without a centralized intermediary.
All the DApps have a unique code that may only work on a specific platform. Not all DApps work on traditional browsers like Google Chrome or Microsoft Edge. Some of them only work on special websites with a customized code, adjusted to open certain DApps.
Among their many advantages, gambling Dapps allow for faster and smoother transactions, low-cost casino operations that result in a lower house edge for the user, more anonymity, and provable fairness.
There have been criticisms of DApps surrounding their inaccessibility to the average user.[full citation needed]
A notable example was the DApp CryptoKitties, which crashed the Ethereum network at the height of its popularity. CryptoKitties and another similar gaming-based DApp, Dice Games, have failed to attract similar traction since.[needs update]
- Augur - prediction market platform
- Cryptokitties - game based on the Ethereum. It slowed Ethereum down due to insufficient transaction processing and exposed the scaling limitations of public blockchains.
- Blockstack - a platform for developing decentralized applications.
- Freelance - platform on smart contract.
- Steem - based on blockchain technology, publishers rewarded with cryptocurrency.
- Uniswap - a decentralized cryptocurrency exchange
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