What is a decentralized application (DApp)?

What is a dApp? A decentralized application (dApp) is a type of distributed open source software application that runs on a peer-to-peer ( P2P) blockchain network rather than on a single computer. DApps are visibly similar to other software applications that are supported on a website or mobile device but are P2P supported.

What is makerdao & Dapps?

MakerDAO is a decentralized credit service supporting the stablecoin Dai that allows users to open a collateralized debt position (CDP). Decentralized applications (dApps) are digital applications or programs that run on a decentralized network, rather than a single computer or server.

Which cryptocurrency is an example of a Dapp?

Bitcoin, the first cryptocurrency, is an example of a DApp. Bitcoin is open-source. All transactions on the Bitcoin blockchain are open, public, immutable, and operates without the control of any centralized entity. This means every Bitcoin transaction since the beginning can be seen by everyone.

What are Dapps & how do they work?

dApps run on a blockchain network in a public, open-source, decentralized environment and are free from control and interference by any single authority. For example, a developer can create a Twitter-like dApp and put it on a blockchain where any user can publish messages. Once posted, no one — not even the app creators — can delete the messages.