Shulou(Shulou.com)06/01 Report--

The knowledge of this article "what is the concept of Bitcoin and Dapp" is not quite understood by most people, so the editor summarizes the following content, detailed content, clear steps, and has a certain reference value. I hope you can gain something after reading this article. Let's take a look at this "what is the concept of Bitcoin and Dapp" article.

The emergence of Dapps

The visionary describes a completely decentralized world in which the central body that manages the digital network does not exist and every communication or transaction takes place directly between the two parties. Ideally, this depicts a society in which online applications, websites, and utilities do not need intermediaries to run, and even the entities that create the system cannot control user information.

Of course, the first innovation to take advantage of this thought-provoking concept is Bitcoin and it is open source, peer-to-peer, encrypted storage records-often referred to as blockchain. However, it doesn't take long for developers to grasp the bigger picture. The Bitcoin model gives Internet users complete control over how they exchange money, not just digital data. How does the Internet control data exchange? You guessed it, by interacting with Dapps.

What is Dapp?

Decentralized applications are a new type of Internet-based software programs designed to exist in a way that is not controlled by centralized institutions, just like cryptocurrencies. However, while passwords provide a decentralized exchange value model, Dapps achieves functions beyond currency transactions.

Currently, there are many decentralized applications, and although some use their own blockchain, most have adopted existing blockchain technologies and integrated them with their own tokens. However, regardless of the type, the application is considered a Dapp only if the following conditions are met.

1. Complete autonomy

Applications must be open source, which means that no entity can control most of its tokens, data, and records. In addition, Dapp needs to encrypt its data in a decentralized and publicly accessible block chain, rather than a centralized private server to avoid a point of failure.

two。 Token generation

The application must generate tokens (called App Coins) according to the standard algorithm and, if possible, allocate some of them at the beginning of its operation. Dapps is designed so that specified digital tokens need to use the application, and any rewards offered to users are done only through tokens. The algorithm used to generate tokens acts as proof of value for the application user.

3. Majority management

Dapp can use agreements to respond to proposed changes or improvements and market feedback, but it must be agreed upon by a majority of its users before any changes can be made. Without consensus on the proposed changes, no one can change the data or records of the application.

How to use Bitcoin as Dapp

By using peer-to-peer distribution, Bitcoin has proved to be an effective solution to many problems in the traditional financial system, including buyer / seller verification, international remittances and fraud prevention.

Bitcoin is widely believed to have the possibility of opening decentralized applications to the world. It is not only the first cryptocurrency, but also the first Dapp.

As a decentralized application, all resources of Bitcoin are open source, which means that no entity (company, organization, or government) can control Bitcoin. Everything related to the use of cryptocurrencies is open and public. As a result, anyone can mine, store and distribute bitcoins.

In addition, the bitcoin model uses standard algorithms to generate token, that is, the hash code work proof (PoW) function, which cannot be changed unless approved by a majority consensus of its users. These token are necessary for Bitcoin operation, and any contributor (miner) to the system will be rewarded.

Bitcoin dapp Revolution

Bitcoin has been around for some time, but like all Dapps, it is still in the early stages of development. The Dapp world as a whole has plenty of opportunities for ambitious developers to take advantage of, and this pace of development progress proves that the decentralized future is not a long way off.

Now, if you like, you can choose to play down the importance of decentralized applications, especially given the fact that many people don't know (or care about) how the Internet works, as long as it works. But think of it this way: the applications and websites we use most every day are completely controlled by major companies around the world, and the dynamics of these companies can change overnight. Imagine waking up to find that you can no longer shop on Amazon because Jeff scolded the president too much on Twitter or couldn't log on to Yahoo because they didn't have a deal with their new boss.

Decentralized application developers transfer this power from companies to users of applications, just as Bitcoin takes currency control from governments and financial institutions and provides it to all users of cryptocurrencies.

The above is the content of this article on "what is the concept of Bitcoin and Dapp". I believe you all have a certain understanding. I hope the content shared by the editor will be helpful to you. If you want to know more about the relevant knowledge, please follow the industry information channel.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.