Decentralized blockchain applications (DApps) refer to the applications that run on a peer-a-peer (P2P) network of computers. DApps, are existing since the advent of P2P networks. Basically, these applications don’t require to run on top of a blockchain network. For instance, BitTorrent, BitMessage, Popcorn Time, Tor, etc. are all a type of DApps. They run on a P2P network but not a blockchain (which is in a sense a P2P network). Contrasting to standard smart contracts, in the sense of Bitcoin, used for sending money from A to B, DApps are quite unique. They can have countless numbers of participants on all terms (slides) of the market.
Note: Given definitions are not defined exactly and not set in stone, the view can vary on this subject.
If you are looking for a decentralized blockchain application, make sure it meets the following criteria:
The application needs to be completely open-source
Not only it must operate autonomously, but also no single entity should control the majority of its tokens. Although the application may embrace its protocol to apply proposed enhancements, improvements, and feedbacks, it should be the consensus of its users who will decide all changes.
Data and records of operations of the application must be cryptographically stored:
It must be cryptographically stored in a decentralized, public Blockchain. This is an important aspect to be considered in order to tackle any core points of failure.
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