Decentralized applications, or dApps, are software programs that run on a blockchain or peer-to-peer (P2P) network of computers instead of on a single computer. Rather than operating under the control of a single authority, dApps are spread across the network to be collectively controlled by its users. They are often built on the Ethereum platform and have been developed for various purposes, including wallets, exchanges, gaming, personal finance, and social media.
KEY TAKEAWAYS ::
Decentralized applications—also known as "dApps" or "dapps"—are digital applications that run on a blockchain network of computers instead of relying on a single computer. DApps are free from the control and interference of a single authority. The benefits of dApps include safeguarding user privacy, the lack of censorship, and the flexibility of development. Potential drawbacks include an inability to scale, challenges in developing a user interface, difficulties in making code modifications, and security issues.
