Most popular dApps

Over the past two years, dApps have become increasingly popular. Decentralized applications (dApps) are created on the basis of blockchain and offer clients to conduct financial transactions without the involvement of intermediary structures. As a rule, dApps are released on blockchains such as Ethereum and Binance Smart Chain.

The structure of dApps and the principle of operation

Each decentralized application has several elements — a frontend and a backend.

A frontend is an application element where the user performs actions.

Backend database.

In fact, the frontend is a dApps component, it is downloaded to a PC, and it consists of an interface that accepts a request for actions from the client. And the backend is located on the platform servers. The backend is a blockchain: it has an information base, and it ensures the operation of the application without errors. There is a program code in the database, and the backend keeps a register of client actions.

A smart contract is responsible for the interface and blockchain contacts in dApps. When the client wants to perform an action in the application, the smart contract reads the action, automatically executes it by contacting the blockchain (backend).

Smart contracts provide support for multiple nodes containing all the data, which are also updated all the time — this is how the principle of decentralization is ensured. Even if one node is removed from the shared network, the application will not be affected and will continue to work further.

Where dApps are used

• There are applications involved in the financial sphere — exchange services, decentralized exchanges where transactions with cryptocurrencies are carried out.
• Applications that work with finance only partially. These are marketplaces and gaming platforms.
• DApps have been created, in which you can use disk space, computing power of equipment.

Types of dApps

At the moment, there are several types of dApps on the market, and they are divided according to the degree of interaction with blockchains.

The first one includes those created on the basis of their own blockchain. In particular, they include the Ethereum platform.

The second type includes applications that have already been created on the basis of another blockchain. The most famous is MakerDAO. They use their own coin creation mechanisms.

The third one includes applications that use another blockchain, as well as dApps created on it. A classic example is dApps Augur.

Examples of the most popular dApps

MakerDAO is considered one of the most famous. This application is responsible for issuing DAI coins. Clients can use the capabilities of the application to open debt positions, receive collateral.

An application such as Compound is also very popular. It is created on the basis of the Ethereum blockchain. Clients are allowed to take loans in cryptocurrencies, issue loans to users using smart contracts of the application. In turn, the lender receives a percentage of the loan issued in cryptocurrency.

Another well-known dApps is Aave. It is created on the basis of the Ethereum blockchain. Thanks to it, users can borrow, issue loans, and receive interest. Its feature is flash loans, which allow you to get loans without collateral.

The most popular application of the second type is Golem. This application creates a global system of computing resources. In fact, it is a supercomputer where you can create graphics, perform various mathematical calculations, and work with AI.

Safe Network is also popular — it belongs to the third type of application. It’s a conglomerate of servers. Thanks to them, customers send and store data. Due to encryption algorithms, complete confidentiality of clients is ensured. If the user wants, he can rent out the disk space.

It is worth noting that the number of dApps will grow, and new players are entering the market offering their own dApps.

dApps by DecimalChain

In particular, DecimalChain aims to launch its dApps too. Thanks to the functionality of DecimalChain, dApps with unique characteristics and appropriate tools will be developed on it.

The advantages of dApps include the fact that the operation is stable, and failures are practically excluded. The application will work as long as there is at least one client on the network.

The applications are completely transparent. Each user can view the dApps code. There are no hidden functions. In addition, the application does not secretly collect information about customers.

There is also no censorship by developers or government agencies. All changes can occur only with the permission of the overwhelming majority of the community; and dApps easily integrate cryptocurrencies into their protocols.