Future will be full of dapps

Future will be full of Dapps
Scala blockchain
https://www.scalablockchain.com

 A decentralized application is the one which runs by getting data
from the network of computers instead of a single data server. So
that the single point of failure is avoided.
 If the computer data is not available, the application gets the data
it wants from any other node of the network. Dapps are blockchain
enabled applications or websites.

Here are some of the noticeable common features of Dapps:
Decentralized:
All records of the application’s operation has to be stored on a public
and decentralized blockchain to avoid the pitfalls of centralization.
Open source:
It should be governed by the autonomy and all the changes must be
decided by the consensus or a majority of its users. This code base
should be available for scrutiny.

Protocol:
 The application community must agree on a cryptographic
algorithm to show proof of value.
 For example, bitcoin uses proof of work and ethereum is currently
using proof of work with plans for a hybrid PoW/PoS (Proof of Stake)
in the future.
 If we adhere to the above definition, the first Dapp was in fact
bitcoin itself.
 Bitcoin is an implemented blockchain solution which arose from
problems revolving around centralization and censorship.
 Bitcoin is a self sustaining public ledger which allows efficient
transactions without intermediaries and centralized authorities.

Cryptocurrencies and bitcoin are based on a technology called
blockchain. Blockchain is basically a continuous growing list of blocks
which contains data that is distributed among a network of computers. It
directs peer to peer connection without the involvement of any central
authority or middleman.

Let’s see what is smart contract along with an example
A smart contract is a piece of computer program which runs if certain
conditions are met.
For instance: In a football match, you bet $10 that the “Team A”
would win and your friend bets on “Team B”. Both can place a bets
by writing a smart contract.
Just imagine the same scenario without smart contract:
· Both give $10 to a third person and he will decide whom to give it when
any one of the team wins. In this situation, there is a possibility that he
might run away with your money.

 You and your friend trust each other and when the match is over
with a winning side, the losing one should pay the winner $10. But it
is still not easy.
 You both can write the legal contracts for this transaction since
the process is convoluted and this is not the absolute choice
because the amount involved in this transaction is very little.
 It has a perfect solution for this problem. By using the smart
contracts, we can write the set of conditions that send the winner the
payout automatically without the need of anyone. You and your
friend just need to keep $10 in your respective wallets.

 Smart contract is more than that and ethereum is specifically
created to write the smart contracts for the usage in decentralized
applications.
 The web was intended to be a decentralized platform but it no
longer is. Tech giants store and process the user data in a
centralized data centers.
 The major issue with centralized data centres is, the user’s data
can be misused easily since it is controlled by a central agency.
 People are really concerned about the privacy and they need a
decentralized ecosystem. With the growing interests and usage in
decentralized apps, it should not be ignored.

A Decentralized Dapps Future Awaits:
 The inevitable onslaught of blockchain adoption render
numerous practices obsolete.
 It may be a bold and distinct conjecture where the services
such as banking will be made redundant as the world learns to
operate and finance itself by self sustaining, trust less and
decentralized networks.
 There are corporations which are hurrying to secure the place
in the blockchain movement is only a testament to that.

 With a leap of faith, blockchain is the next step forward and
toward a world unified by shared data.
 Scalablockchain is a blockchain development company
which specializes in developing Dapps for business as well as
consultation.

Future will be full of dapps

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