Why The Future is Bright: Investigation Into Decentralized Applications (Dapps)

by birtanpublished on September 29, 2020

Hello dear capricorns and welcome to this video in which I'm looking at the correct usage trends of the decentralized applications and why I believe the current situation means we could be doing very well in the future so today's 18th of July I think and as

Always thank you very much for watching this video we will begin with the current explanation of what is ADA centers applications so that stands for the center's application and it basically has a back-end code running on

A decentralized peer-to-peer network to compare it for example with the backend code running on the centralized servers which is just most of the applications currently in the world so there are centrist applications of anonymous tabs

They do have some common features that included first of all being a per source ideally it should be covered by multiple users its code base should be available for scrutiny the centralized all records of the applications operation must be

Stored on the public and the centralized blockchain the incentivize validators on the blockchain should be the asite device by rewarding them accordingly with the different tokens which is why when a thing about the apps you're some

Thinking about crypto currency then it should be a protocol so the application community must agree on the cryptographic algorithm to either shift proof of value so through the stuff like proof of work like Bitcoin or proof of

Stake like for example arc so yeah I think that's a pretty simple explanation it's essentially a normal application running on a decentralized network so some of the beginnings of Dubbs how does it all start so what the cryptocurrency

Has been around for around ten years the concept of disinterest applications taps is still fairly new with the initial releases of the Dubs coming only 2017 meaning it is still extremely new concept so the difference between early

Block chains like Bitcoin and 2.0 block chains like cerium our smart contracts so those allowed essentials applications to be produced because they are adding conditions to the transactions on Bitcoin you can only for example send

Someone money we can add a condition that you only send money if something takes place and that allows those disinterest applications to be developed a cinemas currently dominating the dub market more

And more dabs are also starting to appear on Neil and then Oreos is the third project that's starting the center's applications also I'm not a fan of yours I'm not gonna mention it anymore in this

Video but it's here I mean Neil are definitely the two wants to watch out for in terms of the app development it is expected that more blocks in project will start to have dubs running on them since there are plenty of small contract

Platforms out there and all of them will try to get developers to develop stuff on the platform because obviously it's not the end of the platform so let's have a look at the usage first of all and whether the center's applications

Are actually used so there are several dubs or the life and operational the most popular projects are the centralized exchanges so you have the likes of ID X fork fork Delta Bank or locally cerium and few more with those

Four are in the top ten other operational dissensions exchanges that are quite popular include Qyburn network and air swap so again this is probably the main usage of the decentralized applications so far Gumba hubs are also

Popular so you have the likes of form of 3d of 3d and how to read that sro they also have the likes of fun fairy dies and as the volume on some of those is very very low so there's something to remember as well which I'm

Going to talk more in a bit there are also few examples of games and collectibles obviously cryptic kitties has been the most popular one at some point it exploded in popularity with basically critical is completely

Clogging the etherium network there but there are others the likes of gods and chained mega crypt Apollo's encrypt the countries are interesting ones don't expect any of those games to be good it's more a collectables way basically

Collect stuff and like cars and that type of a thing there is one more app which is very unusual and something I'm gonna talk about more its Algar which is the most unusual popular which is a prediction application that

Basically allows you to predict real-life events and can I talk about what are you saying there will happen or not you can put money on it if it does happen you get more money if it doesn't you lose what you bet talking about Al

Gore you know it's the only non exchange collectible Gaming ICO that really has delivered the promises so far and actually provides a decentralized product that it's somewhat unique our girls are interesting project I'm not

Sure if they can find many users but what they've done so far is very impressive never that less that means that there are still hundreds of unique icos that currently developing their decentralized apps and hopefully will

Soon start delivering the promises this is actually a bullish sign for platforms like it's serum in you know since those will be burning tokens or fees I was in your world we were burning gas but as a new holder is good anyway as well as any

Crypto currencies that are tied to the dissensions applications that are popular should explode in value as well most of these dubs will not find users but you should become popular platforms around the world I do think we will see

The new likes of Facebook or Google or any type of you know major major application like that and I think there will be the sensuous applications that will be just as big as those I don't hit there will be many I think there'll be a

Very long number of those but whoever bets on the right one will have a very very bright future in terms of giving a lot of money because the tokens obviously a chip now if a platform explodes to huge sized and the price

Will increase significantly so currently says I want to talk more about that because there isn't much usage as you can see these are the most popular decentralized applications and some of the cartridges this these are the

Desensitize applications as you can see they are the most popular ones so these are the exchanges for Delta and idec's both of them very very popular kind of popular is not a poker but you know almost 2,000 users in 24 hours it's

Still very decent these are the collectibles and coming games not that many users pretty low volume how's the kisi auger is the one that stands out and terms of the other category category we have also the likes

Of your Xerox protocol and a serum name service which basically the naming of the serum smart contracts and then we have the likes of gambling so form of free DSL you know not that many users pretty low volume but they're trying and

They do have users so that's always admirable main exchanges auger and some of the gambling projects are the only ones generating reasonable volume and number of users of those River is very low as

Visible I mean none of those go over 2,000 users and in case of a girl you know it's not over 200 users so not that many users and general the volume is quite low as well idak volume 1.4 million sounds a lot but it's not that

Significant really if you think about their potential here auger than even reach half a million still a lot of money coming from 135 users though so that's pretty impressive so let's talk about the conclusion of the whole thing

And why did I start talking about it and a first place so the usage of the apps is super low but there are plenty of significant essentials applications in the development the dub usage should also increase with crypto getting more

Popular I think we will see the increase of the number of people trying to use the apps in that record it is safe to assume the more users and volume should significantly affect the price of the platforms supporting the tabs you know

So that I should be seen among neo so projects that have plenty of taps running on them should do well in the future it is difficult to assume whether current price takes the adoption and the consideration because some people might

Say in a serum is already overpriced I don't think so but we don't really know but considering the market was worth way more with Laura adoption in January I don't see why we couldn't get back to those levels especially for the

Platforms like a 31-year not too sure about Bitcoin because a completely different subject but you know neo anything those guys they will get more and more dissensions applications being developed

On them so that should significantly affect the price long term because well obviously those tokens will be burned the more users are using the platform and doing transactions on the platform the other thing is that we have to talk

About is whether the censored applications can become successful I do believe with the right idea and execution there should be several projects with tens of thousands of users potentially millions if the DAP is very

Unique and there isn't anything that's decentralized that does the same thing what are the apps like these exists I don't know how they did know there might be some there might be not but I do think we will see some winners in the

Space however we do need to remember there are literally thousands of cryptocurrencies so we do have to pick the right winner so there you go it wasn't interesting to subject I don't really think many people talked about

This and in terms of the current usage of the Dubs and how many we know how many we actually have that operational with the users so I just wanted to make a video about it I did hope it was useful indeed if you like these videos

Make sure you subscribe for more and as always I do love you Cheers and bye

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