Decentralized apps or simply DAPPs are the web or mobile applications that run on the Blockchain and can’t be controlled by a single entity. Rather, it must be open-source and should be operated autonomously. In a DAPP, all the data is stored on a secure cryptographic ledger called Blockchain from where it is accessible to all the nodes. Unlike the other types of applications that are centrally hosted, a DAPP requires a digital token (also called the App Coin) which gives users the access to different sections of the application.
All the aforementioned characteristics, when possessed by an app, create a decentralized app with an autonomously controlled architecture. There are two types of mechanisms that are used in a DAPP i.e Proof-of-Work (PoW) and Proof of Stake (PoS) mechanisms. In PoW, changes in a DAPP are proposed based on the contribution of the stakeholders whereas, in PoS, these decisions are made depending on the percent ownership of the stakeholders over the app.
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