Illustration by Lena Podobed

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What are decentralized applications?

Decentralized applications (dApps) are digital apps that act just like traditional apps, but built on the Ethereum blockchain.

Unlike a regular web app monitored by the company that made it, a DApp runs on its own. That means users need to put some money into the system to keep it going. Its data and records are public and not a single person can own or control the application once it's deployed.

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Why use a dApp?

• Censorship-resistant: no one - including the app creators - can delete what’s happened on the app
• Your data is safe: You don’t need to submit personal info. DApps use smart contracts to complete the transaction between two anonymous parties.
• No downtime: Relying on a blockchain network of computers ensures dApps continue to work even if individual computers or parts of the network go down.
• Open-source: Anyone can make contribution to upgrade or make necessary changes DApp

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Some interesting dApps

CryptoKitties

A well-known dApp game that allows users to buy, breed and sell virtual cats. The cats represent unique NFTs - nobody can duplicate or steal them. The most expensive CryptoKitty was sold for $170,000.

What are decentralized applications (dApps)

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ENS (Ethereum Name Service)

A naming system that helps you create one simple, human-readable names (like ‘quirk.eth’) for all your public addresses, instead of an unreadable string of digits and letters that looks like gibberish for each of your crypto address.

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Aave

A financial dApp where users can earn interests by depositing their crypto or take out loans using those deposits as collateral.

OpenSea

A marketplace where you can buy, sell and create new NFTs.

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