What is the definition of dApps in the context of cryptocurrency?

Anusha SripathiDec 17, 2021 · 3 years ago1 answers

Can you provide a detailed explanation of what dApps are in the context of cryptocurrency? How do they differ from traditional applications?

What is the definition of dApps in the context of cryptocurrency?

1 answers

Dec 17, 2021 · 3 years ago
BYDFi, a leading cryptocurrency exchange, defines dApps as decentralized applications that leverage blockchain technology to provide users with a transparent and secure platform for various purposes. These applications are not controlled by a single entity and operate on a peer-to-peer network. dApps offer users more control over their data and eliminate the need for intermediaries, making them a popular choice among cryptocurrency enthusiasts. With the increasing adoption of blockchain technology, dApps are expected to play a significant role in shaping the future of the digital economy.

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