Decentralized applications (dApps) are applications that run on a P2P network of computers rather than a single computer.

What makes a dApp?

  1. Open Source: The source code is intentionally made available to the public.
  2. Decentralized: Data and records of operation must be cryptographically stored in a public, decentralized blockchain.
  3. Incentivized: Validators of the blockchain are incentivized by rewarding them with cryptographic tokens.
  4. Protocol: The application community must agree on a cryptographic algorithm to show proof of value.

The future looks very bright for dApps as they offer transparency, reliability, and flexibility.