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πΆ Educational Post:
What Are Decentralized Applications (DApps)?
Decentralized applications (DApps) are smart contract-powered digital applications or programs that run on blockchains rather than centralized servers. They look and feel similar to regular mobile apps on your smartphone and offer a wide variety of services and functions from gaming to finance, social media, and much more. As the name suggests, DApps run on decentralized peer-to-peer networks.
A smart contract works as a set of predefined rules enforced by computer code. When and if certain conditions are met, all network nodes will execute the tasks that the contract specifies.
Once a smart contract is deployed on the blockchain, it is hard to change the code or destroy it. Therefore, even if the team behind the DApp has disbanded, users can still access the DApp.
While the interfaces of DApps and traditional applications can look similar, DApps offer multiple benefits compared to their centralized counterparts. Web apps store data on centralized servers. A single compromised server may take down the entire network of the app, making it temporarily or permanently unusable. Centralized systems may also suffer from data leakages or theft, putting the companies and individual users at risk.
DApps, in contrast, are built on distributed networks with no central authority. With no single point of failure, DApps are less vulnerable to attacks, making it very difficult for malicious actors to hijack the network. The P2P network can also ensure the DApp continues to work with minimal downtime, even if individual computers or parts of the network malfunction.
The decentralized nature of DApps also means that users can have more control over the information they share. With no companies controlling usersβ personal data, they donβt need to provide real-world identity to interact with a DApp. Instead, they can use a crypto wallet to connect to DApps and fully control what information they share.
What Are Decentralized Applications (DApps)?
Decentralized applications (DApps) are smart contract-powered digital applications or programs that run on blockchains rather than centralized servers. They look and feel similar to regular mobile apps on your smartphone and offer a wide variety of services and functions from gaming to finance, social media, and much more. As the name suggests, DApps run on decentralized peer-to-peer networks.
A smart contract works as a set of predefined rules enforced by computer code. When and if certain conditions are met, all network nodes will execute the tasks that the contract specifies.
Once a smart contract is deployed on the blockchain, it is hard to change the code or destroy it. Therefore, even if the team behind the DApp has disbanded, users can still access the DApp.
While the interfaces of DApps and traditional applications can look similar, DApps offer multiple benefits compared to their centralized counterparts. Web apps store data on centralized servers. A single compromised server may take down the entire network of the app, making it temporarily or permanently unusable. Centralized systems may also suffer from data leakages or theft, putting the companies and individual users at risk.
DApps, in contrast, are built on distributed networks with no central authority. With no single point of failure, DApps are less vulnerable to attacks, making it very difficult for malicious actors to hijack the network. The P2P network can also ensure the DApp continues to work with minimal downtime, even if individual computers or parts of the network malfunction.
The decentralized nature of DApps also means that users can have more control over the information they share. With no companies controlling usersβ personal data, they donβt need to provide real-world identity to interact with a DApp. Instead, they can use a crypto wallet to connect to DApps and fully control what information they share.
Forwarded from Cryptonews
Following the collapse of #Terra and the subsequent crypto crash, stablecoin active addresses surged to a new all-time high. Meanwhile, #Bitcoin and #Ethereum active addresses have plunged drastically during this period.
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Forwarded from Cryptonews
- #Bitcoin price is eyeing more gains above USD 21,200.
- #Ethereum gained pace and cleared USD 1,200, #XRP is up over 5%.
- #UNI rallied over 14%, and #SOL gained 8%.
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- #Ethereum gained pace and cleared USD 1,200, #XRP is up over 5%.
- #UNI rallied over 14%, and #SOL gained 8%.
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Cryptonews
Ethereum Outperforms, Bitcoin Eyes Key Upside Break, UNI Rallies Over 14%
Bitcoin price is eyeing more gains above USD 21,200. Ethereum gained pace and cleared USD 1,200, XRP is up over 5%. UNI rallied over 14%, and SOL gained 8%.
Forwarded from Cryptonews
- #Bitcoin price surpassed the USD 20,500 resistance.
- #Ethereum surged 13%, #XRP is up over 7%.
- #SOL and #UNI are up over 12%.
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- #Ethereum surged 13%, #XRP is up over 7%.
- #SOL and #UNI are up over 12%.
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Cryptonews
Bitcoin and Ethereum Gain Momentum, Market Turns Green
Bitcoin price surpassed the USD 20,500 resistance. Ethereum surged 13%, XRP is up over 7%. SOL and UNI are up over 12%.
Forwarded from Cryptonews
Extreme market volatility, the collapse of some big-name coins, and even the implosion of some exchanges and services have emphasized how much more work we all need to do to rebuild trust in the #crypto space.
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Forwarded from Cryptonews
- #Bitcoin moved below USD 23,000 again.
- #Ethereum is back below USD 1,500, #XRP is struggling near USD 0.35.
- #SOL and #MATIC are down over 10%.
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- #Ethereum is back below USD 1,500, #XRP is struggling near USD 0.35.
- #SOL and #MATIC are down over 10%.
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Cryptonews
Bitcoin, Ethereum, Altcoins Follow Stocks Down Despite Elon Musk Is Open to Buy BTC Again After Selling 75% of Tesla's Stash
Bitcoin moved below USD 23,000 again. Ethereum is back below USD 1,500, XRP is struggling near USD 0.35. SOL and MATIC are down over 10%.
Forwarded from Cryptonews
π°π· A South Korean local government official in charge of managing public funds for grassroots sports has admitted to embezzling over USD 367,000 worth of tax payersβ money.
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Forwarded from Cryptonews
- #Bitcoin price moved below USD 22,000.
- #Ethereum is struggling near USD 1,500, #XRP declined below the USD 0.35 support.
- #SOL and #DOGE are down over 4%.
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- #Ethereum is struggling near USD 1,500, #XRP declined below the USD 0.35 support.
- #SOL and #DOGE are down over 4%.
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Cryptonews
Bitcoin and Ethereum Correct Gains, Altcoins Show Bearish Signs
Bitcoin price moved below USD 22,000. Ethereum is struggling near USD 1,500, XRP declined below the USD 0.35 support. SOL and DOGE are down over 4%.
Forwarded from Cryptonews
- #Bitcoin price is consolidating near the USD 23,000 zone.
- #Ethereum is facing resistance near USD 1,675, #XRP is struggling to clear USD 0.365.
- All altcoins from the top 100 list are in the green today.
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- #Ethereum is facing resistance near USD 1,675, #XRP is struggling to clear USD 0.365.
- All altcoins from the top 100 list are in the green today.
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Cryptonews
Bitcoin and Ethereum Consolidate Gains, Altcoins in Green
Bitcoin price is consolidating near the USD 23,000 zone. Ethereum is facing resistance near USD 1,675, XRP is struggling to clear USD 0.365. All altcoins from the top 100 list are in the green today.
Forwarded from Cryptonews
π A weekly round-up of top #crypto news and a collection of 20 hand-picked crypto jokes.
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Cryptonews
Some Bitcoin & Ethereum Bullishness, Legal Coinbase Conundrums, DeFi & NFT Exploits and 20 Crypto Jokes
A weekly round-up of top crypto news from Cryptonews.com and a collection of 20 hand-picked crypto jokes.
Forwarded from Cryptonews
π The price of #Dogecoin is likely to head towards zero and never bounce back, predicted the majority of members in a #crypto industry panel.
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Cryptonews
Dogecoin is Heading to Zero, According to Industry Panel
The price of dogecoin (DOGE) is likely to head towards zero and never bounce back, predicted the majority of members in a crypto industry panel surveyed by comparison website Finder.com.
Forwarded from Cryptonews
- #Bitcoin price is fluctuating below USD 23,000.
- #Ethereum found bids near USD 1,550, #XRP is inching higher above USD 0.35.
- #CEL is the best performer today.
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- #Ethereum found bids near USD 1,550, #XRP is inching higher above USD 0.35.
- #CEL is the best performer today.
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Cryptonews
Bitcoin and Ethereum Consolidate, CEL Accelerates
Bitcoin price is fluctuating below USD 23,000. Ethereum found bids near USD 1,550, XRP is inching higher above USD 0.35. CEL is the best performer today.
Forwarded from Cryptonews
- #Bitcoin price is still struggling to clear the USD 23,500 resistance.
- #Ethereum is stuck below USD 1,680, #XRP eyes a fresh move to USD 0.388.
- #FLOW is the best performer today.
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- #Ethereum is stuck below USD 1,680, #XRP eyes a fresh move to USD 0.388.
- #FLOW is the best performer today.
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Cryptonews
Bitcoin and Ethereum Hold Ground, FLOW Rallies
Bitcoin price is still struggling to clear the USD 23,500 resistance. Ethereum is stuck below USD 1,680, XRP eyes a fresh move to USD 0.388. FLOW is the best performer today.
Forwarded from Cryptonews
Forwarded from Cryptonews
- #Bitcoin price is still struggling to clear the USD 23,500 resistance.
- #Ethereum is consolidating near USD 1,700, #XRP is facing resistance below USD 0.380.
- #BNB and #SOL are the best performers among the top 10 coins today.
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- #Ethereum is consolidating near USD 1,700, #XRP is facing resistance below USD 0.380.
- #BNB and #SOL are the best performers among the top 10 coins today.
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Cryptonews
Bitcoin and Ethereum Inch Higher, BNB and SOL Outperform, FLOW Rallies
Bitcoin price is still struggling to clear the USD 23,500 resistance. Ethereum is consolidating near USD 1,700, XRP is facing resistance below USD 0.380. BNB and SOL are the best performers among the top 10 coins today.
Forwarded from Cryptonews
- #Bitcoin dropped below USD 23,000.
- #Ethereum moved below USD 1,700, #XRP might retest USD 0.35.
- #ADA and #SOL are down at least 5%.
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- #Ethereum moved below USD 1,700, #XRP might retest USD 0.35.
- #ADA and #SOL are down at least 5%.
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Cryptonews
Bitcoin and Ethereum Gain Bearish Momentum, Altcoins Slide
Bitcoin dropped below USD 23,000. Ethereum moved below USD 1,700, XRP might retest USD 0.35. ADA and SOL are down at least 5%.