What Are Decentralized Applications?
Decentralized applications (dApps) are programs that run on peer-to-peer networks and blockchains instead of central servers. In 2015, there were around 25 dApps. But with the rise of cryptocurrencies, there are now over 3,600 dApps ranging from games to social media platforms to decentralized financial services and more. Most of these are built on the Ethereum (CRYPTO: ETH) network, enabling digital agreements between parties to self-execute based on meeting certain conditions (smart contracts).
These applications process close to $500 million ($182.5 billion annualized) worth of user transactions each day. So what's behind the sudden rise in popularity of dApps, and how can they add wealth to investors' blockchain portfolios? Let's find out together.
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Source Fool.com
