Decentralised Application (dApp)

A decentralised application (dApp) is a type of software application that operates on a decentralised network rather than being controlled by a single entity or central authority. The term is often associated with blockchain technology, which provides a decentralised and distributed ledger for transactions.

What Are dApp Functionalities? 

dApps run on a peer-to-peer network of computers (nodes) rather than a central server. This makes them resistant to censorship and single points of failure.

The source code of a dApp is typically open and accessible to the public. This transparency fosters trust and collaboration within the community.

Many dApps use blockchain technology to ensure security, immutability, and transparency. Smart contracts, self-executing contracts with the terms of the agreement directly written into code, are often employed in dApps.

Some dApps have their own native tokens, which can be used for various purposes within the application or traded on cryptocurrency exchanges.