What are DAPPs? Discover great WBank Dapps
It is well known that today’s society likes to play games. WBank wallet is not just a wallet. It is also compatible with a lot of games such as fun and gaming etc. The WBank team will develop different DAPPs to meet the needs of the market and attract more members. Our developer team have developed several games including chess, dice and etc, anticipate the amazing feature soon!
What are Dapps you might ask? Imagine having your car working away, transporting passengers while you’re at work. Imagine having your computer utilizing its spare capacity to serve businesses and people across the globe. Imagine being paid for browsing the web and taking ownership of your, arguably invaluable, attention. Imagine a world like that. That world is not far away.
A paradigm shift in the way we view software models is approaching. When Bitcoin, the first cryptocurrency, made us reassess our definition of Store of Value (SoV), it also revealed a sneak peek of the future: a world running on decentralized applications (Dapps). These distributed, resilient, transparent and incentivized applications will prove themselves to the world by remapping the technological landscape.
Want to learn about Dapps in greater detail? Check out our dedicated blockchain courses on Dapps and Ethereum.
What is Blockchain?
Before we can even fathom what Dapps do, we need to be familiar with its underlying technology—the blockchain. Put simply, a blockchain is a ledger of records organized in ‘blocks’ that are linked together by cryptographic validation. It is a digital storage of consensus truth. The key is to understand that this ledger is neither stored in a centralized location nor managed by any single entity, hence its distributed-ness. The block validation system results in new transactions being added irreversibly and old transactions preserved forever for all to see, hence its transparency and resilience. Open-source software that leverage on the blockchain technology are called Dapps.
What is Decentralized Application?
As the concept is still in its infancy, there might not be one definition of what a Dapp is. However, there are noticeable common features of Dapps:
Open Source. Ideally, it should be governed by autonomy and all changes must be decided by the consensus, or a majority, of its users. Its code base should be available for scrutiny.
Decentralized. All records of the application’s operation must be stored on a public and decentralized blockchain to avoid pitfalls of centralization.
Incentivized. Validators of the blockchain should be incentivized by rewarding them accordingly with cryptographic tokens.
Protocol. The application community must agree on a cryptographic algorithm to show proof of value. For example, Bitcoin uses Proof of Work (PoW) and Ethereum is currently using PoW with plans for a hybrid PoW/Proof of Stake (PoS)5 in the future.
If we adhere to the above definition, the first Dapp was in fact Bitcoin itself. Bitcoin is an implemented blockchain solution that arose from problems revolving around centralization and censorship. One can say Bitcoin is a self-sustaining public ledger that allows efficient transactions without intermediaries and centralized authorities.
The Ethereum Network
While Bitcoin paved the way for cryptocurrencies and the blockchain technology, Ethereum was the one that first showed everyone the true potential of blockchain technology. Ethereum allowed developers from all over the world to run their Dapps on top of their platform. Ethereum developers can code smart contracts on Ethereum, which serves as the blueprint for the Dapp.
In Ethereum’s white paper, it was stated that the intention of Ethereum is to create an alternative protocol for building decentralized applications with emphasis on development time, security, and scaling. You may think of Ethereum as, for the lack of a better analogy, the Mother of Dapps. Armed with its very own language, Solidity, Ethereum enables developers to form smart contacts using the Turing-complete Ethereum Virtual Machine (EVM). With these tools available, developers made Dapps that have real-life use cases, ranging from asset management to resource planning.
Examples of successful Ethereum-based Dapps that have achieved millions of dollars in market cap include Golem, Augur, BAT, etc.
WBanK Wallet Dapps
- Expansion Dapps is a place to develop decentralized applications with a huge amount of money to develop Dapps and system construction costs.
- WB Wallet is an expansion code that helps to maximize the DAPPS system (decentralized applications).
- Our application is open source, all source code is public, which encourages developers to create ideas and implement on the ETH Blockchain platform in our own applications.
- Currently, Dapps has focused on GAME on ETH platform and will soon launch many interesting services and games.
- In the future, we aim to have more than 1000 GAMES on the released ETH platform
- In the third quarter of 2019, we will release the DAPP Game Betting on ETH platform, which is transparent, independent and decentralized and no longer based on trust mechanism.
- Decentralized Game: Crypto Mon, Dragonereum, Axie Infinity
- Binary Option: Increasing transparency and uncontrollableness
- Trading Margin: Using financial “leverage” to make higher profit
- Decentralized Exchange: Fidex, Binance Dex, Mercatox, Probit, Hotbit, Coineal, Zbg.com
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