What is a DApp? How it Works, Classifications, and Applications of DApp

What is a DApp? How does DApp work? What are the applications of DApps in today's technology? Let's explore DApps together right now.

What is a Dapp?

DApp, short for Decentralized Application, is a decentralized application built on blockchain technology and smart contracts.

Developed directly on blockchain platforms, the nature of DApps depends on the blockchain platform they run on. Factors such as transaction speed, TPS (transactions per second), scalability, and stability play a significant role.

Although defining DApp in a broad and simple manner may not be easy, identifying an application as a DApp can be based on several criteria:

Open-source: The application’s source code is publicly available and accessible to everyone.

Decentralization: It uses encryption technology similar to blockchain.

Incentive: DApps may use virtual currency or digital assets to self-fuel their operations.

Algorithm/Protocol: It utilizes tokens and incorporates a consensus mechanism.

Therefore, any application that meets these criteria can be considered a decentralized application.