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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.
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.
[2] [3] [4] In particular, processes run by the decentralized programs must be central, enduring, and distinctive to the identity of the organization for the organization to be a DAO. In general terms, DAOs are member-owned communities without centralized leadership. [5] [6] The precise legal status of this type of business organization is ...
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.
Unlike Bitcoin, which aims to be a store of value, or Ethereum, which functions as a platform for decentralized applications (dApps), XRP is designed as a bridge currency for international payments.
Private blockchains have been proposed for business use. Computerworld called the marketing of such privatized blockchains without a proper security model "snake oil"; [9] however, others have argued that permissioned blockchains, if carefully designed, may be more decentralized and therefore more secure in practice than permissionless ones. [4 ...
A decentralized computer system has many benefits over a conventional centralized network. [143] Desktop computers have advanced so rapidly, that their potential performance far exceeds the requirements of most business applications. This results in most desktop computers remaining idle (in relation to their full potential). A decentralized ...
Avalanche is a decentralized, open-source Layer-1 blockchain that uniquely combines a tri-chain architecture (C-Chain, P-Chain, and X-Chain) with customizable Layer-1 networks (formerly known as “Subnets”), enabling diverse applications and sovereign blockchains within its ecosystem. [1] It was developed by Ava Labs and launched in 2020.