The tech industry is changing at a dizzying rate today, and staying on top of the latest trends can be difficult.
Another buzzword reflecting the current craze is “Dapp,” a “decentralized application.” Therefore, what precisely are dapps, and how do they differ from popular mobile apps? How can you use dapps more specifically to boost your company’s value?
The information in this article will dispel some myths about what dapps are. Explore some of the most well-liked tools and technologies for decentralized application development while comparing the advantages of dapps to conventional mobile apps. You can hire a reputable decentralized app development company to help with Dapp development.
How Many Dapps Are There In 2019?
Decentralized applications leverage an entire peer-to-peer (P2P) network to run their backend code in contrast to standard mobile apps, which depend on a standalone computer or a cloud server.
It is a common misconception to link the emergence of dapps to blockchain; however, some well-known apps we are all familiar with don’t run on a blockchain network. BitTorrent or BitMessage, as examples.
But since most of the dapps currently available on the market rely on smart contracts and the blockchain, I’ll concentrate on blockchain-based dapps here.
The number of decentralized applications (dapps) powered by blockchains like Ethereum, EOS, POA, GoChain, and Steam is growing quickly.
According to estimates for 2019, 2,432 of them are released each month, roughly 180 new dapps. Surprisingly, 105 of these new applications were created on the Ethereum blockchain, which has the biggest developer community.
Even though it doesn’t host many developers, users favor the EOS network. More specifically, there are three times as many dapp users on EOS as on Ethereum.
Games make up the majority of dapps (around 60%), which is unsurprising given the hype surrounding blockbuster CryptoKitties from last year. There are currently 478 dapp games available, with more than 29,000 users. However, data storage is the most popular category, with StorJ and X Cloud drawing 106,420 monthly users.
Second, you’ll discover that the top-ranked dapentirely p is based on a different category—the social blogging website Steemit.
How Are Dapps Different From Mobile Apps?
Dapps differ from standard apps in that they often employ a single server but instead rely on a P2P network to host their backend components. What does that mean in sp, then?
1. Dapps can store value
The ability of dapps to store value is one of their best qualities. Dapps can hold cryptocurrency and then distribute it to users once the contract terms have been met.
A reliable third party must secure financial transactions in conventional apps. Dapps do away with the requirement for a third party because they enable value to be stored directly within the app.
2. A higher level of synergy
Dapps easily integrate and have much greater synergistic potential than traditional apps. All of the apps on the blockchain are compatible with one another.
For instance, the Digix app digitizes gold by putting it on the blockchain as fractional ownership tokens. Other dapps like Augur, Rex, and WeTrust can easily be integrated with these DGX tokens. Since the process is so straightforward, no special Digix permission is needed.
Dapp security is of the utmost significance. Decentralized apps, by definition, have a public backend. Therefore any suspicious activity needs to be closely watched and limited.
Since the 2016 DAO heist, it is still being determined just how safe dapps are. One of the most costly dapps ever, DAO, was defrauded of more than $50 million in ether. This emphasizes the necessity for further development of the security standards used for dapps.
Dapps are notorious for being sluggish, which is annoying. The Ethereum network can only handle 15 transactions per second. The number of concurrent users is constrained. Since these transactions are sent in blocks, there is no assurance yours will be one of them.
The developers of Ethereum are currently working to solve the issue and implement some significant upgrades. Hopefully, a blockchain that can grow to handle 10,000 transactions will be available shortly. However, work on the answer is ongoing.
5. Resistance to censorship
This is a ground-breaking feature of dapps that is very challenging to remove.
According to Kate Haskovo, Head of Delivery at 8allocate, a company that develops custom blockchains, “An app and all of its data are permanently stored on the network once you upload it. The information will still be there, and you might even get sued.”
6. Transparency and control
Depp’s ability to give users more control over the data they store is another benefit of being an irrevocable public ledger. Every dapp’s action is documented in the blockchain and is irrevocably there. The blockchain also contains all of the generated data.
7. Cost of usage
Every time users use a dapp; they must pay a modest cost. This charge is a courtesy to the owners of the various nodes that make up a network. Users must pay a higher price the more complex the distributed application is.
However, most dapp users consider the cost a fair exchange for the blockchain’s transparency and control.
Cost Of Development: Dapps vs. Regular Mobile Apps
The final application complexity will determine the cost of developing a dapp, just like it does for traditional mobile app development.
Since the app backend code will be shared among the nodes of a P2P network, dapps differ from regular apps in terms of development cost in that there is no need to pay cloud fees or include on-prem server support costs. To put it another way, the dapp costs will consist of the following:
- Upgrade (if applicable)
It will not include any maintenance costs or cloud server fees. You could expect to pay between $15,000 and $35,000 for a low-complexity distributed application (typically a payment app built around existing crypto-currencies requiring simple smart-contract development). A fully functional blockchain platform with total decentralization would start at about $120,000.
Technologies and Tools For Dapp Development
Dapps have a very different architecture than apps that run on centralized servers because they connect to the blockchain using smart contracts. This is because the open-source backend code of dapps is located on the nodes of a distributed network instead of centralized servers. As a result, creating traditional apps is very different from the dapp development process.
As mentioned, the app’s complexity will affect the fees charged to end users, so developers who can write clear, short code are in high demand.
When Dapps Are Better Than Apps And Vice Versa
Blockchain technology and decentralized applications are still in their infancy. Although developers can quickly upload their recently created dapps to directories like Dapp.com, the number of users of these apps still needs to be higher than that of traditional mobile apps.
Dapps still have some usability and scalability issues, and users need to learn more about the components of the blockchain ecosystem, like wallets and tokens, among other things.
Finally, this is where using dapps is your best option. Use dapps to give users total control and ownership over their data and assets while ensuring complete transparency of all transactions.
Dapps are designed for tasks requiring a high level of user confidence, such as b2b and b2c platforms for buyer/seller interactions. Stay with standard mobile apps if usability and agility are your primary concerns.
If you want a wealth of knowledge about Bitcoin and Blockchain-based mobile apps, get in touch with Suffescom Solutions.