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A decentralised application (DApp, [1] dApp, [2] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system. [3] Like traditional applications, DApps provide some function or utility to its users.
Wikipedia has been described as decentralized (although it is a centralized web site, with a single entity operating the servers). [138] Smartphones have been described as being an important part of the decentralizing effects of smaller and cheaper computers worldwide.
However, users and applications can choose to differentiate between bitcoins. While wallets and software treat all bitcoins the same, each bitcoin's transaction history is recorded on the blockchain. This public record allows for chain analysis , where users can identify and potentially reject bitcoins from controversial sources. [ 91 ]
The decentralized blockchain may use ad hoc message passing and distributed networking. [ 39 ] In a so-called "51% attack" a central entity gains control of more than half of a network and can then manipulate that specific blockchain record at will, allowing double-spending .
Ethereum is a decentralized blockchain with smart contract functionality. Ether (abbreviation: ETH [a]) is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization.
A smart contract is a computer program or a transaction protocol that is intended to automatically execute, control or document events and actions according to the terms of a contract or an agreement.
Decentralized computing is the allocation of resources, both hardware and software, to each individual workstation, or office location. In contrast, centralized computing exists when the majority of functions are carried out, or obtained from a remote centralized location. Decentralized computing is a trend in modern-day business environments.
Uniswap is a decentralized cryptocurrency exchange that uses a set of smart contracts to create liquidity pools for the execution of trades. It is an open source project and falls into the category of a DeFi product (Decentralized finance) because it uses smart contracts to facilitate trades instead of a centralized exchange.