Steemit Crypto Academy - Topic II: Decentralized applications (Dapps) English version)
Hello Steemian ..
This is my homework in the english version. previously I made it in the Indonesian version you can see it here, The topic homework is Decentralized applications (Dapps) organized by professor @yohan2on
What is Dapps?
DApp is a decentralized application completely open-source. This means that where traditional Applications run on a single network of computers. dApps are run on top of a decentralized peer-to-peer network, over which no single entity has complete control.
In a peer-to-peer network, information is constantly being shared among participants. The higher the number of participants in the network, the stronger the network. Users also provide the computing power needed to keep the network running. To give them an incentive to do this, they receive the native token from the platform as compensation.
While it is clear that the architecture of a dApp is different from a typical platform, there are four main criteria that can define a dApp:
1.A fully open-source dApp, with no entity owning the majority of the tokens. By nature being open-source, changes to the protocol must be decided by the consensus of the network's users.
2.The dApp data must be stored on the decentralized blockchain.
3.A dApp needs to generate a token that serves as proof of the value .
4.DApp tokens are distributed as gifts on the network.
TRON DApps is one of the most searched terms on the Internet today in technology trends. Recently everything about TRON has gone viral because it is a progressive blockchain-based decentralized network system like Ethereum, EOS, etc., programmed with smart protocols too with its own blockchain explorer. TRON is specially created to build decentralized p2p networks around the world and is designed to handle superfast transactions instantly. It also has its own native cryptocurrency known as Tronix (TRX) and structured smart contracts to make transactions even more simplified.
By integrating TronLink, developers can now interact with the smart contracts they create for their DApps right within their browser. What was once impossible is now easy to achieve with TronLink, TRON, and blockchain. An amazing ecosystem that is completely decentralized.
The main advantage of this wallet is that TronLink supports all TRON based TRC20 tokens and provides access to the TRON dApp ecosystem. In addition, you can use TronLink to send and receive TRX, TRC10, and TRC20 tokens securely. Also, you can use it to integrate smart contracts on the developer's site.
Another reason to choose the TronLink extension is the transaction speed - the Tron network processes around 2000 transactions every second and there is no room for bugs or delays. it has many functions that are specially adapted to the Tron network and that some other wallets don't offer. This makes TronLink ideal for Tron fans.
Poloni DEX is a decentralized exchange (DEX) launched in 2018. The platform is available in English, Chinese, Japanese and Korean.
DEX is becoming increasingly popular, largely due to the following factors:
Polonidex does not require a third party to deposit your funds, instead, you are always in control of your coins directly and you are transacting directly with anyone who wants to buy or sell your coins
Polonidex does not usually ask you to provide personal information. This makes it possible to create an account and immediately start trading.
Their servers are spread all over the world which leads to a lower risk of server downtime.
Polonidex is basically immune to hacker attacks.
However, DEX usually has an order book with lower liquidity. if you lose your password, it may be lost forever.
JustLend, TRON-based decentralized lending protocol that provides a distributed and secure marketplace where users can receive loans and earn interest at low trading fees.
Distributed finance has grown to be one of the main drivers of applications on the TRON network. DeFi's core principle is to pioneer a free financial services ecosystem that is immune to centralized authority and access to all.
In the ecosystem, users are custodians of their own assets and are given full control over asset ownership. They can freely access any available decentralized market.
Lending protocols and platforms offer various incentives to market participants, for example:
Borrower: sell assets or borrow usage rights
Lenders: earn interest on borrowed assets
Compared to traditional financial products, the custodian-free decentralized protocol enjoys the following promising advantages:
Transparency & effective price based on market demand
Loans are fast and convenient
Censorship & immutability immunity
This is my Homework article today. I hope it will be useful for all of you