How do Dapps work, and What Makes them Power Web3?

CoinHustle -

We may be earlier in crypto than we think. The thesis that underpins the present global market is simple, we are still in the opening phases of the internet revolution. For skeptics who started pushing the "Web3 is not the future" narrative, it may shock them to learn that Web3 is yet to hit maturation.

Traditional applications have taken routes that are not favorable to the users, causing condemnation. However, users cannot scrutinize these decisions because they are made without including them. This is one of the reasons why the Internet Computer blockchain has risen to prominence to salvage the situation and proffer solutions. DFINITY considers the proposals of Internet computer enthusiasts via proposals in the NNS where voting can determine a course of action, and this management system could also be applied to Dapps to ensure community satisfaction via the Service Nervous System or SNS.

Whether you want to learn about the capabilities of Dapps, or if you want to create your own, the Internet computer blockchain and the dapps that operate on it are worth your research time.

What are decentralized Apps?

Decentralized applications are those apps that can function autonomously with smart contracts running on a decentralized computing blockchain or other distributed ledger system. These apps can be built on the Internet computer blockchain, paving the way for users to own, gain, and regulate how their private data is managed. Thus, values are measured under this process because they can replace centralized apps like Whatsapp, Facebook, Instagram, and many others which make money from harvesting our personal data. Web3 is about putting the power back in the hands of us as individuals and about monetizing our presence for ourselves rather than big tech.

Decentralization does not mean Anarchy. It is a pivotal step to managing the decisions for crucial communal proposals and creates an open vote process.

Why use Dapps?

Decentralized apps offer different benefits than centralized apps; this spans from an absence of a third party, thanks to Internet Computer smart contracts. However, interacting in a decentralized app means there aren't high costs. Interaction on these dapps is always secure. These apps can be applied in all industries like gaming, medical, social, and finance – this will shore up the usage of the dapps just like traditional apps, creating an outcome that will render the current iteration of apps obsolete due to the aforementioned inherent advantages.

Web 1 started by providing a space of countless information that can be accessed by all, with the development of a broader web as the version 2 (Web 2) companies centralized this accessed data and placed bounties on our private data. However, Web 3.0 has a creative space where dapps can function on decentralized platforms without exposing our data. With that being said, let's dive into some industries like social media where the benefit of dapps can be felt and appreciated.

Internet computer, Dapps, and social media.

The excessive centralization of social media services caused a massive downturn and outage for most centralized platforms like Meta, Instagram, Whatsapp, and other social media outlets. Facts show that the world has progressed to using the dapps where users benefit greatly from this innovation. The Internet computer blockchain has witnessed an increase in dapps built on its chain, totaling forty-six, with an increasing amount being built. To create an app on this chain, see more.

Just recently, the Internet computer block tallied 1,000,000,000 blocks suggesting that the scalability promised by this blockchain has been brought to reality. If the benefits of blockchain are to be adopted, then it must be able to scale up functioning dapps which the IC is constantly doing. Many dapps are currently integrated to prevent the unauthorized sale of user data. With this milestone, many blocks are required to hold data, and the IC is not stopping there.

Social media on the decentralized network aims to stop the conventional control of users' posts and what they see, using their data or adverts to generate income.

The IC Dapps significantly impact users, evident in the recent integration of different methods to keep the IC block running without limits. Below are some advantages of using decentralized social media apps on the IC if you want to build on this chain.

  • No censorship of posts, paving the way for free speech.

However, if a post causes issues, it can be taken down with the approval of users and the community added with those with access to governance tokens.

  • Users get to earn more on their advert revenue if a tipping system is built in, and they can get their complete tips rather than little of what was generated.
  • Scalability is assured.


    Dapps on the Internet Computer

The IC is building revolutionary apps that mitigate the problems faced by users of various centralized apps, making the online space more convenient for transactions and eliminating third parties to monitor the process. Many in the crypto space are unaware of the decentralized social media revolution being built on the IC. Some prominent Dapps include, but are not limited to:

  • DISTRIKT

This is one of the most significant projects building presently on the Internet Computer right now. It is the first social media network hosted 100% on blockchain – Distrikt is a decentralized social media platform for professionals that promises to revolutionize user experience through tokenization with the long-term goal of user-centric, user-governed, and user sovereignty. An interview with the team behind this project shows the roadmap and why they have decided to build this blockchain. For an app to be considered a dapp, it must meet these criteria:

  • It must be secured with a cryptographic token.
  • A group of people must govern it, most likely to be a community with a governance token.
  • The data and records must be public.

Distrikt met these three criteria despite being still in the development phase.

  • OPENCHAT

This is another dapp currently shaping up to oust the likes of current centralized chat apps such as WhatsApp. Openchat promises to be a decentralized messaging service that protects users using the end-to-end encryption on this block. OpenChat is looking to incorporate a token-based platform which means it will be fully decentralized, entirely controlled by the community, and exclude data exposure deficiencies.

The decision-making will be made by those who own this governance token worldwide – only the best decisions will be implemented after a proposal is submitted. This decentralization will ultimately change the status quo, but those who own a large percentage of these tokens can vote on an outrageous proposal – a flaw that has been spotted.  

OpenChat has many features that include but are not limited to the ability to send messages, videos and audios,  and group chat functions. The governance is structured by the SNS (Service Nervous System), derived from the NNS. Once it's live, the governance process can begin fully.

FINAL THOUGHT

The Internet Computer blockchain is growing exponentially, and the Web3 space is about to offer limitless realities with dapp projects on this chain. With this huge potential, we should expect many more possibilities and use cases to be created; and a brave new world of decentralized services for the consumer.

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  • Disclaimer: The views and opinions expressed on this website are solely those of the original author and other contributors. These views and opinions do not necessarily represent those of the Dfinity Community staff and/or any/all contributors to this site.