The word “app”, or application in short, is a term that has been dominating the online arena, both mobile and desktop, for a number of years. Apps are convenient in their use, they provide a lot of useful features and are easy to download. However, another trend has been growing over the last two years in the form of the development of decentralized applications.
Decentralized applications are computer or smartphone-based apps running on distributed computing systems, or blockchains. Mostly and especially on the Ethereum Blockchain, dApps are running on Smart Contracts that execute commands on the basis of given terms with guaranteed immutability.
DApps are just like apps in their functioning, as they provide services ranging from games to financial transactions. However, unlike most regular apps that run on a server and can work without an internet connection, Dapps cannot be disconnected from the internet, as they will simply stop functioning. Most Dapps share the following characteristics – they are open source, they store all of their operation records on the blockchain, and they work on tokens.
The last two years have seen a real explosion of Dapps appearing on the market with the rise in the number of blockchain-based projects developing them for a variety of industries and market sectors. The total number of Dapps on the market has surpassed 2,500 with the number of daily Dapps users exceeding 96,000. The number of transactions generated by Dapps per day is surpassing 4.4 million 11,500 smart contracts being involved. More importantly, Dapps are a profitable business that is generating cash flows of over $21.5 million per day, proving that the popularity and application of Dapps is increasing. Source...