Companies like: • VISA • Apple • Twitter • Netflix • EPIC Games and many more are on the verge to be disrupted.
Here’s how Decentralized Applications will take over.
DAPPs 101: it’s time to build
What are Decentralized Applications (DAPPs)?
The simplest way to explain it is by saying that: DAPPs are decentralized applications built on top of the Blockchain. Instead of being managed by a Company, they are managed by multiple people, making them peer-to-peer…
Why do we need DAPPs?
Let’s see the following analogy: Assuming the Blockchain is a PC and Ethereum is our Operative System (like Windows ok?), then we need to have HOW to interact with Windows, and nowadays most of the time, we use apps to do it. For that, we must access it/download it, create an account, provide some initial data to start using it and keep providing data on the usage.
But, have you seen what happened behind the scenes?
Behind the scenes
What happened was that you relied on the app to store your data and every detail of your experience. And, while sometimes this can be a good thing, most of the time it isn’t. “But why?” Because you never know what the company may do with your Data and you have no idea about what will be the company’s future.
- If a company wants to be bought, it can.
Let’s take the Twitter story as an Example:
When Elon Musk proposed to buy Twitter and make it private, the Twitter community (users) was not consulted, only the stakeholders had a say in the deal, and they all agreed to sell it off. In fact, we wouldn’t have known about the deal if Elon hadn’t posted it himself.
The value of any company is the community (customers/users), the value is in us I don’t see why we shouldn’t have a say in where the future of Twitter.
- If they want to shut down, they can
- If they want to sell your Data to third parties, they can “But, wait a sec”. You don’t want those things to happen right? What about Terms & Conditions, the Company’s Vision, Mission. Don’t they protect me?” Hmm, not really. Most companies don’t care about those. And what happens to your Data depends on the host company.
DApps offer an initial solution. By being on the Blockchain they are a peer-to-peer system that makes every person involved with the app have a say in their future. Is that it? Well Yes.
How will DApps disrupt big companies?
Well, in many ways…
Disrupting big Companies
- It will allow developers to build different app versions in case they don’t like where things are going. See ForkDelta, they are a decentralized crypto exchange built from EtherDelta.. ttps://forkdelta.app
- It will be aligned with users’ incentives. See CryptoKitties: This famous game built on the Ethereum Network allows players to collect and trade NFTs, getting a financial upside.
Other Use of DApps
Over the past few years, DApps have been used in many ways. Some like:
Where to find DAPPs?
Here https://dappradar.com is the “Google play store or Apple AppStore” for DApps.
As mentioned above, DApps aren’t an app running by one single company, instead, they run on multiple PCs of multiple people. They are transparent, and can’t be owned or shut down by a single person, thereby, users can have a say in its future development.
And how can we have a say?
The potential to create a new version of the app. Founders are aware of the fact that users have the potential to create a new version of the App because if users are not satisfied with the DAPP, they can build a different version of that DAPP, as ForkDelta did.
“But who runs these DAPPs? Companies?” Most of the time: DAOs.