Written by Esoteric Veritas @EsotericVeritas. Published July 15th 2017. Video by Siraj Raval Originally Published on Jan 19, 2016
The idea of Decentralization is spreading, gaining traction around the globe… Recently we saw Kanye West tweet on the subject…
— KANYE WEST (@kanyewest) April 25, 2018
Decentralized Applications are crucial to protecting user data, privacy and minimizing corruption.
Dapps allow software to be run without the need for any 3rd party server or single point of failure and will surely provide immense and appreciated user-value as we progress into the data-driven future. In fact, according to this Decentralized Application white paper written by David Johnston, Dapp coins or tokens are valuable because they can replace untrustworthy centralized consensus systems.
Dapps & Dapp tokens can offer useful functions that Bitcoin does not yet support such as:
- Governance / Consensus / Voting Mechanisms
- Software Access
- Smart Contract Interactions
- Non-Fungible Tokenizations / Tradeable Collectibles / Art Verification
- Reputation or Tipping Tokens / Karma Networks / Gig Economies
- Customized Private & Public Economies
Consequently, Dapps are quite interesting because they have the power to disrupt a number of industries. In the above featured video, Siraj offers some killer reasons to start building that killer decentralized app.