There is an urgent need for industries to adapt themselves to the blockchain technology. The distributed ledger will make centralized applications obsolete. The Gartner Hype Cycle of 2017, predicts that blockchain will be part of our lives in the next 2 – 3 years. As we move closer to the day that blockchain is no longer the catchline, but a cliche. However, the new buzzword in town is DApps.
Naturally, the first question is what is DApps?
Though the concept has only emerged in the past year, we are yet to come with an exact definition of the word Decentralized Applications. However, there are specific unique features to DApps.
- Open Source: Governed by autonomy and decision making is consensus-based, the code is available to scrutiny as well as improvisation.
- Decentralized: All the records are stored in the decentralized blockchain that is public, avoiding demerits of centralization.
- Incentivize: Those who validate the blockchain must be incentivized through cryptographic tokens.
- Protocol: The application community must agree on Proof of Work and Proof of Stake.
- Profitable: The decentralized applications are beneficial for both creators and users.
Maybe you might think, DApp is a fancy word for building an application on top of the blockchain. In specific ways, DApp is just a startup with a blockchain. However, a DApp is an architecture and an infrastructure of decentralised servers on top of a blockchain, mainly the Ethereum blockchain. A DApp might have several smart contracts handling different functions.
Why Ethereum’s Blockchain?
The answer is simple. Ethereum blockchain acts as a decentralized computing platform with an interplanetary filing system, a decentralized storing system and a layer of intelligence with deep learning. So what does this do? DApps can achieve any task if the data set is correct and can be scaled according to the requirements.
How can we create a DApp?
- TestRPC (https://github.com/trufflesuite/ganache-cli/wiki/Installing-TestRPC-on-Windows)
- Truffle Framework (http://truffleframework.com/)
- Web3js API (https://web3js.readthedocs.io/en/1.0/getting-started.html)
The DApps can be tested in an isolated framework called Ethereum Virtual Machine(EVM). Any company wants to create a smart contract can use EVM, without any changes in the main blockchain operations. The Ethereum node in the network is powered by the EVM implementation and have the capacity to execute instructions in the smart contract.
DApps on the EVM will be the gateway to building a reliable smart contract for newbies and adept coders and developers who want to learn the Solidity Language. There is no denying the potential of the technology, what is to be understood that DApps is still an up and coming technology. We cannot argue against the DApps and Blockchain, and the biggest asset of Ethereum and EVM is that it is a free for all coding fanatics.