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Future will be full of Dapps - Scala blockchain

<br><br><br><br><br><br>Here, we are going to discuss the future of Dapps in scala blockchain

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Future will be full of Dapps - Scala blockchain

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  1. Future will be full of Dapps Scalablockchain https://www.scalablockchain.com

  2. The birth of decentralized applications: • A decentralized application is the one which runs by getting data from the network of computers instead of a single data server. So that the single point of failure is avoided. • If the computer data is not available, the application gets the data it wants from any other node of the network. Dapps are blockchain enabled applications or websites. https://www.scalablockchain.com

  3. Here are some of the noticeable common features of Dapps: Decentralized: All records of the application’s operation has to be stored on a public and decentralized blockchain to avoid the pitfalls of centralization. Open source: It should be governed by the autonomy and all the changes must be decided by the consensus or a majority of its users. This code base should be available for scrutiny.

  4. Protocol: • The application community must agree on a cryptographic algorithm to show proof of value. • For example, bitcoin uses proof of work and ethereum is currently using proof of work with plans for a hybrid PoW/PoS (Proof of Stake) in the future. • If we adhere to the above definition, the first Dapp was in fact bitcoin itself. • Bitcoinis an implemented blockchain solution which arose from problems revolving around centralization and censorship. • Bitcoinis a self sustaining public ledger which allows efficient transactions without intermediaries and centralized authorities. https://www.scalablockchain.com

  5. https://www.scalablockchain.com Cryptocurrencies and bitcoin are based on a technology called blockchain. Blockchain is basically a continuous growing list of blocks which contains data that is distributed among a network of computers. It directs peer to peer connection without the involvement of any central authority or middleman.

  6. Let’s see what is smart contract along with an example A smart contract is a piece of computer program which runs if certain conditions are met. For instance: In a football match, you bet $10 that the “Team A” would win and your friend bets on “Team B”. Both can place a bets by writing a smart contract. https://www.scalablockchain.com Just imagine the same scenario without smart contract: · Both give $10 to a third person and he will decide whom to give it when any one of the team wins. In this situation, there is a possibility that he might run away with your money.

  7. You and your friend trust each other and when the match is over with a winning side, the losing one should pay the winner $10. But it is still not easy. • You both can write the legal contracts for this transaction since the process is convoluted and this is not the absolute choice because the amount involved in this transaction is very little. • It has a perfect solution for this problem. By using the smart contracts, we can write the set of conditions that send the winner the payout automatically without the need of anyone. You and your friend just need to keep $10 in your respective wallets. https://www.scalablockchain.com

  8. Smart contract is more than that and ethereum is specifically created to write the smart contracts for the usage in decentralized applications. • The web was intended to be a decentralized platform but it no longer is. Tech giants store and process the user data in a centralized data centers. • The major issue with centralized data centres is, the user’s data can be misused easily since it is controlled by a central agency. • People are really concerned about the privacy and they need a decentralized ecosystem. With the growing interests and usage in decentralized apps, it should not be ignored. https://www.scalablockchain.com

  9. A Decentralized DappsFuture Awaits: • The inevitable onslaught of blockchain adoption render numerous practices obsolete. • It may be a bold and distinct conjecture where the services such as banking will be made redundant as the world learns to operate and finance itself by self sustaining, trust less and decentralized networks. • There are corporations which are hurrying to secure the place in the blockchain movement is only a testament to that. https://www.scalablockchain.com

  10. With a leap of faith, blockchain is the next step forward and toward a world unified by shared data. • Scalablockchain is a blockchain development company which specializes in developing Dapps for business as well as consultation.  https://www.scalablockchain.com

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