Decentralized Applications

Decentralized Applications, or dApps, are applications that operate on a peer-to-peer network, most often a blockchain. This setup differs from traditional apps which are hosted on centralized servers. The decentralized nature of dApps ensures data integrity and security and prevents control or censorship from a single authority. They are usually open source, allowing for transparency and community-driven development. Many dApps use cryptographic tokens to incentivize users and participants in the network. They follow specific consensus mechanisms to maintain agreement on the state of the blockchain. dApps are prominent in areas like finance, particularly decentralized finance (DeFi), gaming, social media, and online marketplaces, offering benefits like enhanced security and privacy, resistance to censorship, and reduced dependency on intermediaries.

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