Blockchain 101: What is a
Blockchain 101: What is a Decentralized Application (dApp)?
A mini-series to explain blockchain technology to developers, hosted by Jack Tanner, blockchain developer and educator and CTO of workonblockchain.com.
Decentralized Applications or dApps are decentralized, open-source software applications running on blockchain technology, often running on Bitcoin, Ethereum and/or smart contracts. Any application can be run in a decentralized and transparent way, without a central entity controlling the data.
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One of the students of the Blockchain Institute of Technology asked “What are DApps or Decentralized Applications?”
In this video, BIT Instructor George Levy answers this question as he details the various conditions that must be met in a DApp.
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Very well explained!!! Many thanks
Great video, all makes complete sense when you think about it. Now the question is what we (as users) will make of that sense. I find blockchain fascinating and I think it holds huge potential but the two biggest challenges I can think of are:1. Sustaining gains: one of the key reasons most assets both online and offline are centralized is because the ones that own them have developed business models (fees, suscription, one offs etc.) that both sustain their existence and allow them to grow (profit = marketing budget = ability to grow & retain users). In short even though as we build a decentralized system, we still need to figure out a business model that allows for growth and generally speaking just paying the bills. We could disrupt all of that by radically changing both our economic model and society's incentives but that just seem like a very very long term play (if any)2. Accountability: one of the reasons a centralized model of assets does make sense is in case of dispute too. We can then point out at an entity and hold it accountable in court or by other means (again a feature of the centralized system, damn!!). Unless our legal system accepts blockchain as a recognized witness in legal settlements, that remains a major challenge. Those two important features of a centralized system find their roots back to the very human nature: greed on the supply side and a need for accountability on the demand side. I still think blockchain holds huge promise but it will have to slightly redefine both the underlying structures of our society and what seems like human nature in a way. We are an evolutionary specie. Same way our brain grew bigger over the past 50,000 years, nothing prevents us from redefining ourselves.
Being French, I definitely like the analogy with the French revolution :) which then makes me think: would that mean centralization is a natural way we (as a human specie) deem good to run our societies (particularly in a growing complex one with more than 7B participants to date). If you look at the Internet example, we could argue that the only way it could have scaled and reach the mass in so many aspects of our lives is through the promises of centralization (feeding into both a greed for profits and a need for accountability all over again). Definitely a fascinating topic.
1 .. To me decentralization has become an ever more centralized importance in my life, lol how ironic. But the meaning has always been to help create a prosperous and peaceful community/world.
2 .. dapp: Decentralized geospatially intelligent voluntary crowd funding and market place :) basically a openbazaar meets kickstarter