When cryptocurrency first came out we got a glimpse of the future, which then made us reevaluate our definition of store of value (SoV). The world would be running on decentralized applications, or succinctly known as DApps. These distributed, resilient, transparent, and incentivized applications will prove themselves to the world by remapping the technological landscape, in fact, the first of the DApps we all know today is Bitcoin itself.
DApps are decentralized applications that run distributed computing systems. Since the concept is still in its infancy, there might not be just one definition. However, to qualify as a DApp, it must have 4 important features: open source, decentralization, incentivization, and protocol. Open source means that all the codes should be accessible to all and available for scrutiny. Decentralization makes all the operations stored publicly and on a decentralized blockchain. Incentivization incentivizes validators of the blockchain. Lastly, Protocol suggests that the application community must agree on a cryptographic algorithm to show proof of value.
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