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22 Aug

Decentralized Application To Boost Your Business

By blueribbon

Decentralized Application To Boost Your Business

Decentralized applications (dApps) are applications that run on a blockchain on a peer-to-peer (P2P) network. dApps look similar to the other web applications in terms of User Experience (UX), their backend process differs. While a traditional application is supported by centralized servers and databases, a dApp is supported by a smart contract that is stored on a blockchain. In the case of a traditional web application, the solution is hosted on centralized web servers and communication between devices and servers happens through the HTTP protocol. The servers have complete control over the accessibility and privileges of users using the platform. There is exclusive access to the backend of the application. Social Media platforms like Facebook and Twitter are good references for these applications. In the case of decentralized applications, dApps are distributed open source software applications i.e. - they are built on a decentralized network that is supported by a blockchain distributed ledger. Blockchain implementation enables a dApp to process data through distributed networks and make them free from the control of a single authority and potential censorship. There are numerous advantages of implementing blockchain technology on a large scale or as part of an organization's existing operations. Let’s explore some of them in this article.

Key Features of DApps

Open Source

Essentially, a DApp must have its own self-governing system, and any changes must be approved by a majority of users. A decentralized application (DApp) should be open source to ensure full transparency. This will undoubtedly attract more users, who will be able to verify what the developers make public and access any data that may still exist outside their blockchain-enabled storage units, where anyone can securely store anything of value through an encrypted cluster.

Data Transparency

Users must still request their data from centralized applications like Twitter, Facebook, and Instagram. Decentralized applications, on the other hand, run on a public blockchain, thus no information can be censored.

Enhanced Data Security

A DApp is powered by smart contracts. This means that whenever there is a change to the data, it is automatically cross-checked with all other nodes in the blockchain, making it completely impossible for anyone to interfere with or fraudulently alter data without first ensuring that neither change has been made elsewhere.

Reduced Reliance on Other Data Users' Integrity

Faster adoption rates are one of the qualities that C-suite executives frequently want. DApps might be beneficial in this sense because they enable speedy individual deployment of solutions, which encourages broader distribution and eventual acceptance by other users.

No Data Loss

Blockchain technology is more than just the foundation for cryptocurrencies like Bitcoin. Numerous uses for the technology exist, one of which is that blockchain networks are immune to hacking. There is no way to tamper with the network, thus it won't matter if one of the nodes leaves or is compromised because the data is dispersed over many nodes and the network is decentralized.

Impossible To Block

DApps are not hosted on a specific IP address, which means they are less likely to be shut down. DApps are much more difficult to censor than websites because their networks have limited authority from external entities such as hackers, national governments, and regulators.

Cost Reduction

Decentralized applications provide a higher level of security, allowing businesses to save money on operations such as setting up and maintaining infrastructure and keeping it secure.

Reduced Downtime

Decentralized applications are more resilient and adaptable than centralized applications because they use middleware to run in multiple locations, allowing interruptions or downtime caused by problems with a single server not to disrupt business continuity. As a result, enterprises can ensure minimal downtime for maximum business resilience and continuity. Also read: Implementing Blockchain Technology In Real Estate

Types of DApps

dApps are classified into three types that are vastly different from one another.

Type I DApps: Type I dApps have their own blockchain. It is primarily made up of Bitcoin, Litecoin, or altcoins.

Type II DApps: Type II utilizes type I blockchains. They have their own algorithm that includes the tokens required for functionality. Omni Protocol is an example of Type II decentralized application.

Type III DApps: For usage creation, it makes use of the type II app protocol and associated token. One such application that distributes storage using the Omni protocol is the SAFE protocol app.

Steps To Develop a DApp

When compared to the process of creating a centralized application or traditional software, the DApp development process can be quite complex. We'll walk you through the steps we follow to offer DApp development service in the following section.

Brainstorming the idea

After hearing your business idea's structure, we carefully analyze it and, if possible, provide valuable input. Our experts also take into account off-chain and on-chain entities, as well as technical components. We then sketch out the entire process and assign a time stamp to each stage.

Developing the concept

After determining the app's requirements, we select the appropriate technology and platform for our decentralized application development. We consider technologies such as Ethereum, Hyperledger, and others and choose the one that best fits the concept. Following completion, we create a proof-of-concept development (POC) that is required for the subsequent stages.

Designing

AT Blue Ribbon Technology, our skilled developers create intuitive and user-friendly applications. We meticulously design the interface and build the app's technical architecture. Aside from that, we compute the GDPR requirements for the document so that you do not have a problem in the future.

Coding

We will then create multiple versions of the dApp product, each with its own set of features such as code, intelligent contacts, and so on. Our dApp development services are free of bugs and malware, so you can be confident that you and your app users are safe.

Deployment

After thoroughly reviewing all standards, we will deploy your app on the cloud first. Following that, we will make it available to everyone via the app store.

Upgrades

Following the app's release, we will prioritize the backlog and forward new microservices to meet the needs of the client.

Wrapping Up

Blockchain is opening up new possibilities and opportunities that we could never have imagined before. Another trend in the digital world is the development of a decentralized app using blockchain. We anticipate an increase in DApp usage, which will result in better UI/UX for end users and more non-fungible tokens, such as crypto-collectibles, which demonstrate ownership of digital items on the blockchain. Business leaders should take notice and innovate with blockchain app development to gain a competitive advantage.

Develop a DApp with BRT

As a leading decentralized application development company, our experts help design and develop an effective solution customized to your business needs. Whether you need a financial solution, Social Media Platform, Banking, Insurance, Gaming, or online Market, we can help implement an effective DApp solution. Get in touch with us today.

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