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What are the Important Benefits Of DApps?

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celine anderson
What are the Important Benefits Of DApps?

What are Decentralized Applications?

Decentralized Application Structure depends on a team environment at various levels in the business. Individuals at each level in the business may have some autonomy to make business decisions(I.e from higher level to lower level )

Example Apps:

  • Factom- the open-source record-keeping system that is unalterable.
  • Status - where users can send payments to each other & enter into a smart contract 

Important Benefits of Dapps?

Completely Open Source : 

Open Source in the sense, it can operate autonomously and maintains the tokens without anyone intervention. The application can modify its protocol, but the changes must be decided by the consensus of its users.
 
Decentralized Blockchain :
 
To Avoid a central point of failure, the data and records of application are stored cryptographically in a public, decentralized Blockchain. Cryptography involves the process of securing the information that cannot be read without a key to decrypt it
 
Build-in-security:
 

As the data are recorded in a peer to peer Decentralized network, it strongly supports security. Hence, DApps by its nature has the ability to safeguard against any malicious and fraudulent activities.
 
Token-Based:
 
Miners are rewarded with a token for their effort during the mining process. Most of the dApps that use cryptocurrencies create an internal token unique to the platform; these are often based on Ethereum and integrated with its blockchain since that currency's ERC-20 standard makes it very simple to create a unique token.

Check out more about the Benefits of DApp!

Why Bitdeal?

The Advancement of blockchain is unavoidable. We at Bitdeal providing you a high-end service for Dapp development. Having a separate team of A+ expertise Blockchain developers who have exposure in developing and deploying, custom, offshore, private, public Blockchain and Ethereum dapp development.

 

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