Decentralized Application (Dapp) | Bitcointalksearch.org

Lauren Smith

sr. member

Activity: 1050

Merit: 277

Quote from: slaman29 on November 16, 2019, 05:19:08 AM

Quote from: wozzek23 on November 16, 2019, 03:27:41 AM

You already have a way of storing your coin in a safe wallet which are the ones you have mentioned, so why do you still have to look for another wallet online that you cannot guarantee the safety of your coin, and if you look at many wallets that has been hacked, it has been all these online wallet, and not even about your address being know to the developers, they are not the main threat, the main threats are those expert hackers that can get into your online wallet at any time.

This is why you see many people even do advise that you don’t keep your money into any exchange wallet too, because if the exchanges can never guarantee the safety of the coin absolutely. So keep backing up your coins in cold storage and the paper wallet you have been using.

And people also forget, storing funds at an exchange, or a casino, or basically any type of service at all, you're making yourself vulnerable to hacks. Just looking today at Betking announcement they got hacked. Even Binance got hacked. And now, especially all the Dapps like these days who offer high interest rate, they're going to get hacked one day.

Exactly that. Its always a bad idea yo not have control of whats yours especially when it comes to funds. They have the control over your money so its even worse then not having control is when someone else has. I dont trust any exchange and i always withdraw when im finished my trading so my coins are safe and sound in my own wallet where i know they safe. This is also why i caution against staking in staking pools or on an exchange. Anything can happen and probably will.

slaman29

legendary

Activity: 2674

Merit: 1226

Livecasino, 20% cashback, no fuss payouts.

Quote from: wozzek23 on November 16, 2019, 03:27:41 AM

You already have a way of storing your coin in a safe wallet which are the ones you have mentioned, so why do you still have to look for another wallet online that you cannot guarantee the safety of your coin, and if you look at many wallets that has been hacked, it has been all these online wallet, and not even about your address being know to the developers, they are not the main threat, the main threats are those expert hackers that can get into your online wallet at any time.

This is why you see many people even do advise that you don’t keep your money into any exchange wallet too, because if the exchanges can never guarantee the safety of the coin absolutely. So keep backing up your coins in cold storage and the paper wallet you have been using.

And people also forget, storing funds at an exchange, or a casino, or basically any type of service at all, you're making yourself vulnerable to hacks. Just looking today at Betking announcement they got hacked. Even Binance got hacked. And now, especially all the Dapps like these days who offer high interest rate, they're going to get hacked one day.

Bravext

copper member

Activity: 196

Merit: 2

This is why they are decentralised application, you don't need to expose your private keys in any third party website, some wallets like trust wallet supports decentralised apps in the sense that you can login and connect your wallet to the decentralised application without having to input your private keys, in decentralized applications in the EOS network, almost all EOS wallets supports this features as well, very secure way to use any decentralised application.

wozzek23

sr. member

Activity: 1568

Merit: 283

Quote from: Jercyhora2 on November 05, 2019, 11:42:56 PM

I'm curious about storing our assets online, mostly online wallets. Do you think there's possibility the developer collect our address, especially our private key?
I usually store my coins on a paper wallet and we all know storing in a cold wallet is the safer way to secure all assets.
Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

You already have a way of storing your coin in a safe wallet which are the ones you have mentioned, so why do you still have to look for another wallet online that you cannot guarantee the safety of your coin, and if you look at many wallets that has been hacked, it has been all these online wallet, and not even about your address being know to the developers, they are not the main threat, the main threats are those expert hackers that can get into your online wallet at any time.

This is why you see many people even do advise that you don’t keep your money into any exchange wallet too, because if the exchanges can never guarantee the safety of the coin absolutely. So keep backing up your coins in cold storage and the paper wallet you have been using.

DarkDays

legendary

Activity: 2030

Merit: 1189

So long as you are using a trusted DApp browser or identity manager it shouldn't be a problem.

Most of these browsers run client-side, which means that no information should be transmitted to the plugin developer or any DApps you interact with.

However, there are infected versions of most clients floating around, so its up to you to do your due diligence and make sure you're only downloading from the official source.

desticy

sr. member

Activity: 1512

Merit: 292

www.cd3d.app

This can be checked in only one way - if the application has open code laid out on a github. Through it it will be visible whether the application saves something or not.
But even if it doesn’t save, you need to take into account the factor that your system may be compromised, which means that it is possible that when entering a private key or siid phrase, these things can go to hackers.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

I won't trust such apps even if there's a guarantee that they don't keep the vital parts themselves and only the wallet is their own while the rest is ours. There's always a possibility for a backdoor no matter how seamless dapps can be. From the numerous reports of hacks and balance disappearance on online wallets, it's safer to follow your own instincts and not trust third-party providers for the bulk of your funds, not unless you need it transferred in a fast manner.

pobeditelvezde

jr. member

Activity: 658

Merit: 1

From the technical point of view it is possible to realize. Just you need is a team of efficient and highly qualified programmers who are familiar with designing distributed systems, the most popular OS (Windows, MacOS, Linux) and mobile ones (Android, iOS) and hiving strong knowledge in cryptography and eventually I am sure you will achieve success.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

It's better to use open source mobile wallets such as Mycelium and secure it using a password.
I have been using it since years and there have not been any issues till date.

Bttzed03

legendary

Activity: 2114

Merit: 1150

https://bitcoincleanup.com/

Quote from: Jercyhora2 on November 06, 2019, 06:47:14 AM

~
Btw, Yes you're right that reviews can be bought just like organizing bounty. But still there will be true review that says the true background of the app

Bitcointalk community reviews should be fine. If you want to want to see reviews for a particular wallet, you can check the web wallet board or you can ask in beginners & help

Quote from: Jercyhora2 on November 06, 2019, 02:03:21 AM

Quote

I'm curious why you still consider storing on online wallets and mobile apps when you already do it on paper wallets?
If you are having doubts about them, just get a hardware wallet.

Im only using paper wallet for long term hodl and online wallet app for trading because it's more convenient compare to paper wallet

If that's the case, then go for hardware wallets but if you can't afford one yet, you can check the wallets I've mentioned in my previous comment.

AniviaBtc

sr. member

Activity: 1120

Merit: 272

First 100% Liquid Stablecoin Backed by Gold

Quote from: huu78 on November 06, 2019, 01:09:03 AM

Dapps are safe, but some do not, I've used Imtoken for 2 years and moved using a trust wallet for 1 year until now safe because they are decentralized reliably.
Different from the wallet in the chrome add-on or software application some of them keep our private key and suddenly take our balance. So I think Dapps is safe if choosing a good one like Imtoken and trust wallet.

After reading some articles about dapps, I can say that they are 80% to 90% safe based on how they works the 10% to 20% are still at large on possibility to be hacked like what I experienced on ImToken, at first I didn't notice it until I saw it real time that my tokens are diminishing. I E-mailed them and they were still unable to answer what was happened.

tsaroz

legendary

Activity: 3094

Merit: 1069

DGbet.fun - Crypto Sportsbook

Quote from: Jercyhora2 on November 05, 2019, 11:42:56 PM

I'm curious about storing our assets online, mostly online wallets. Do you think there's possibility the developer collect our address, especially our private key?
I usually store my coins on a paper wallet and we all know storing in a cold wallet is the safer way to secure all assets.
Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

If you are talking about wallets that contact with dapps like metamask, Metamask is a user based wallet. They don't store your keys on the cloud though they give you a back up options to access your wallet. The security of such wallets largely depends on how safe you use. It displays a popup everytime the dapps want to access your wallet and you can give it a permission or deny it according to your will.

yazher

hero member

Activity: 2268

Merit: 588

You own the pen

Quote from: Jercyhora2 on November 05, 2019, 11:42:56 PM

I'm curious about storing our assets online, mostly online wallets. Do you think there's possibility the developer collect our address, especially our private key?
I usually store my coins on a paper wallet and we all know storing in a cold wallet is the safer way to secure all assets.
Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

Keeping your assets in cold storage is the safest thing to do If you know how to completely secure your paper wallet would be a nice way to store your bitcoins too. however, keeping the on some exchanges can be complicated because you are not complete control of your funds. If something happens with that exchange, your funds might get lost or might get stoled. I rather choose to keep them on the Dapp wallet than to put them on some exchanges or some unknown mobile wallets which I cannot have the full control of my funds.

Ucy

sr. member

Activity: 2674

Merit: 403

Compare rates on different exchanges & swap.

Quote from: Jercyhora2 on November 05, 2019, 11:42:56 PM

I'm curious about storing our assets online, mostly online wallets. Do you think there's possibility the developer collect our address, especially our private key?

I usually store my coins on a paper wallet and we all know storing in a cold wallet is the safer way to secure all assets.
Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

It's possible as long as it is a centralized wallet. And it's generally advised not to use online wallets especially for storing large amount..
If you must use online wallet use the established ones but still avoid storing large amounts on them.

Be careful where you store your private keys though. It is much safer to write them down on papers or something than storing them on your computer or phone.

albrots

sr. member

Activity: 534

Merit: 250

Quote from: huu78 on November 06, 2019, 01:09:03 AM

Dapps are safe, but some do not, I've used Imtoken for 2 years and moved using a trust wallet for 1 year until now safe because they are decentralized reliably.
Different from the wallet in the chrome add-on or software application some of them keep our private key and suddenly take our balance. So I think Dapps is safe if choosing a good one like Imtoken and trust wallet.

I'm also a fan of Imtoken. Starting from the emergence of Imtoken I have used it until Imtoken released ImKey Products integrated with Imtoken which will offer safer asset security in our personal wallet. Imkey price is also quite cheap, only at a price tag of $ 69 you can have it.

sangjoewara

full member

Activity: 1050

Merit: 100

Quote from: kooboat on November 06, 2019, 07:04:35 AM

DApps are equally safe to keep our funds on. With every good thing, it comes with its own disadvantages. For instance with decentralization applications that offers wallet services, there is a possibility that a hacker can easily break the source code and temper with the funds of users.

When it comes to weaknesses, all applications have weaknesses and strengths, but basically it is that we use something more for functions and security that is a little more secure, than for which there are no guarantees at all, because every hacker is a very smart person, of course he can hack whatever he wants.

kooboat

member

Activity: 235

Merit: 10

BountyMarketCap

DApps are equally safe to keep our funds on. With every good thing, it comes with its own disadvantages. For instance with decentralization applications that offers wallet services, there is a possibility that a hacker can easily break the source code and temper with the funds of users.

Jercyhora2

member

Activity: 504

Merit: 23

Epsilon Omega

Quote from: crwth on November 06, 2019, 02:37:27 AM

Let's see if it's possible.

What is Dapp?
- It's basically a decentralized application running in multiple computers to verify transactions, etc.

Would the owners have access to your key?
- No. Probably the Public-key is the only thing they could get.
- Unless different attack vectors have compromised them, you are probably safe.

Quote from: Jercyhora2 on November 06, 2019, 02:22:49 AM

I'm not very familiar with smart contract and what can Smart contract can do to secure our assets

Basic rule. If you don't understand the terminologies and new technologies could offer, don't use it. You might regret it later.

Quote from: Jercyhora2 on November 06, 2019, 01:55:02 AM

I don't even know where or how to check source code. I mostly read app review instead

You know reviews can sometimes be bought, right? It could lead to other things you might not expect. I think you should be careful.

Thanks for this humble and informative reply and advice. This really deserves merit but unfortunately I spent all of mine.

Btw, Yes you're right that reviews can be bought just like organizing bounty. But still there will be true review that says the true background of the app

Getmon

sr. member

Activity: 1400

Merit: 273

Quote from: Jercyhora2 on November 05, 2019, 11:42:56 PM

I'm curious about storing our assets online, mostly online wallets. Do you think there's possibility the developer collect our address, especially our private key?
I usually store my coins on a paper wallet and we all know storing in a cold wallet is the safer way to secure all assets.
Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

First of all, storing cryptocurrency assets in online wallets is not advisable. The risk is too high. If you do not have a hardware wallet, at least store your assets in cold wallets.

If you are using a custodial wallet, then the developer has the possession of your assets. So you should have your private keys to your wallets. And if possible, do not choose wallets provided by sites or apps that are close source. It should be open source.

DaMut

sr. member

Activity: 1274

Merit: 263

Quote from: Jercyhora2 on November 06, 2019, 01:55:02 AM

Quote from: DaMut on November 06, 2019, 01:43:25 AM

There is a possibility for a developer to collect our private keys if you do not check the code-source or using a private code-source. The best way to store our asset is in cold storage, do not move it if you are only holding it. The more you are using the internet, the higher the possibility for your wallet to get breached.
To identify a real decentralization wallet, you need to read the code-source. You can see everything about the application on the code-source, from the flow of work, security and many more.

I don't even know where or how to check source code. I mostly read app review instead

It is very simple actually, just go to GitHub and type the name of the wallet or find the link to their GitHub on their website.
For example, https://atomicwallet.io/, if you want to know their code-source just type Atomicwallet in the search bar on GitHub or Atomicwallet GitHub on Google.
And here is their repository https://github.com/Atomicwallet.

joinfree

sr. member

Activity: 1274

Merit: 260

1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL

Quote from: Jercyhora2 on November 05, 2019, 11:42:56 PM

I'm curious about storing our assets online, mostly online wallets. Do you think there's possibility the developer collect our address, especially our private key?
I usually store my coins on a paper wallet and we all know storing in a cold wallet is the safer way to secure all assets.
Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

I understand your fears in trusting these crypto applications with your funds but sometimes we just can't do without them especially if you want to have access to your funds at any point in time. It will not be convenient enough to always be carrying your computer around in order to have access to your laptop lol hence you need to use popular and well-known blockchian applications such as Blockchain app, trust wallet or better still get to using hardware wallets such as Ellipal, Ledger etc.

blckhawk

sr. member

Activity: 1554

Merit: 334

Decentralized Apps are pretty much safe since it's open-source, meaning the code is open for public, and any exploit that would get the users private keys would be known pretty much quickly by the people using it and having background on its programming language/framework. Paper wallets are still by far most secure, but also most volatile since if any natural calamities happen, it would be pretty much gone, for instance, a fire.

crwth

copper member

Activity: 2940

Merit: 1280

https://linktr.ee/crwthopia

Let's see if it's possible.

What is Dapp?
- It's basically a decentralized application running in multiple computers to verify transactions, etc.

Would the owners have access to your key?
- No. Probably the Public-key is the only thing they could get.
- Unless different attack vectors have compromised them, you are probably safe.

Quote from: Jercyhora2 on November 06, 2019, 02:22:49 AM

I'm not very familiar with smart contract and what can Smart contract can do to secure our assets

Basic rule. If you don't understand the terminologies and new technologies could offer, don't use it. You might regret it later.

Quote from: Jercyhora2 on November 06, 2019, 01:55:02 AM

I don't even know where or how to check source code. I mostly read app review instead

You know reviews can sometimes be bought, right? It could lead to other things you might not expect. I think you should be careful.

tinyteapot

sr. member

Activity: 1175

Merit: 275

Quote

Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

I do not think its secure for you to move your addresses to an app since we all know that there is no online wallet that is entirely secure, you may consider trezor hardware wallet if you are no longer comfortable with the paper wallet you are using at the moment.

I will not support any idea that encourages users to move wallets to any online wallet no matter how secure they may claim.

Jercyhora2

member

Activity: 504

Merit: 23

Epsilon Omega

Quote from: lolgato1 on November 06, 2019, 02:17:06 AM

Are you kidding? It is decentralized, there is no way that exchange or any other DAPP will store your private key, you interact with a smart-contract, not with a centralized . Wink

I'm not very familiar with smart contract and what can Smart contract can do to secure our assets

Novatech8

member

Activity: 700

Merit: 27

Sovryn - Brings DeFi to Bitcoin

Quote from: Jercyhora2 on November 05, 2019, 11:42:56 PM

I'm curious about storing our assets online, mostly online wallets. Do you think there's possibility the developer collect our address, especially our private key?
I usually store my coins on a paper wallet and we all know storing in a cold wallet is the safer way to secure all assets.
Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

Paper wallet is safer, be satisfied with what you have and stop looking for what can hurt you, if you don't like paper wallet then buy hardware wallet like ledger, do not use browser addons that claimed they are decentralized, they will steal your coins

lolgato1

sr. member

Activity: 793

Merit: 250

Are you kidding? It is decentralized, there is no way that exchange or any other DAPP will store your private key, you interact with a smart-contract, not with a centralized . Wink

Gotumoot

sr. member

Activity: 1372

Merit: 261

The possibility is possible. Just like the wallet and all the centralized exchanges and at any given time they can steal our coins that they have because they are the holders of our private keys.

This is why many are reported to be losing funds in these exchanges as they are also made by those in control of our private keys. So we should not trust them immediately, It is better to withdraw our funds if we do not need to trade our crypto coins.

We should only hold our private keys because we cannot call them safe if they are placed on centralized exchanges and wallets that hold our private keys.

Jercyhora2

member

Activity: 504

Merit: 23

Epsilon Omega

Quote

I'm curious why you still consider storing on online wallets and mobile apps when you already do it on paper wallets?
If you are having doubts about them, just get a hardware wallet.

Im only using paper wallet for long term hodl and online wallet app for trading because it's more convenient compare to paper wallet

zeze18

sr. member

Activity: 938

Merit: 256

Quote from: Jercyhora2 on November 05, 2019, 11:42:56 PM

I'm curious about storing our assets online, mostly online wallets. Do you think there's possibility the developer collect our address, especially our private key?
I usually store my coins on a paper wallet and we all know storing in a cold wallet is the safer way to secure all assets.
Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

It depends on how trustable the app. If the app is secure enough, they will save our private keys in their database encrypted and they won't do anything with instead of just save it.
But don't ever import our our privatekeys into news apps that haven't tested the security yet, our wallet might be stolen then. And also any wallet websites and wallet providers never recommend us to login with private key because it's really sensitive to upload.

Jercyhora2

member

Activity: 504

Merit: 23

Epsilon Omega

Quote from: DaMut on November 06, 2019, 01:43:25 AM

There is a possibility for a developer to collect our private keys if you do not check the code-source or using a private code-source. The best way to store our asset is in cold storage, do not move it if you are only holding it. The more you are using the internet, the higher the possibility for your wallet to get breached.
To identify a real decentralization wallet, you need to read the code-source. You can see everything about the application on the code-source, from the flow of work, security and many more.

I don't even know where or how to check source code. I mostly read app review instead

TanakabZX

member

Activity: 504

Merit: 16

Quote from: Jercyhora2 on November 05, 2019, 11:42:56 PM

I'm curious about storing our assets online, mostly online wallets. Do you think there's possibility the developer collect our address, especially our private key?
I usually store my coins on a paper wallet and we all know storing in a cold wallet is the safer way to secure all assets.
Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

Is it a must for you to import your private key into other wallet you knew nothing about? paper wallet is more safer than online wallet if you don't know i think you should, new wallets are dangerous and if you have to make use of them do your research based on the app reviews

DaMut

sr. member

Activity: 1274

Merit: 263

There is a possibility for a developer to collect our private keys if you do not check the code-source or using a private code-source. The best way to store our asset is in cold storage, do not move it if you are only holding it. The more you are using the internet, the higher the possibility for your wallet to get breached.
To identify a real decentralization wallet, you need to read the code-source. You can see everything about the application on the code-source, from the flow of work, security and many more.

huu78

sr. member

Activity: 1204

Merit: 253

Undeads.com - P2E Runner Game

Dapps are safe, but some do not, I've used Imtoken for 2 years and moved using a trust wallet for 1 year until now safe because they are decentralized reliably.
Different from the wallet in the chrome add-on or software application some of them keep our private key and suddenly take our balance. So I think Dapps is safe if choosing a good one like Imtoken and trust wallet.

Aabcde

sr. member

Activity: 1050

Merit: 256

I think it's safe if you import privatekey to Dapps. Since it is called a decentralized app, it means no one can own it even the dev. All this time I have used Trustwallet, nothing has happened with my funds. If there really is a case of privatekey theft, I think it is a fake Dapps that is inserted by a keylogger.
For the characteristics of good Dapps I don't quite understand, but use Dapps that already have big names, that's all my advice.

Bttzed03

legendary

Activity: 2114

Merit: 1150

https://bitcoincleanup.com/

Quote from: Jercyhora2 link=topic=5199031.msg52996096#msg52996096ate=1573015376

~
Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

There are open source non-custodial wallets where only you get to keep your private keys/seed phrase and check if there are some backdoors or some spywares in the code. Out of all the wallets/apps out there, Trust wallet seems to be the most popular. Some would also suggest Wasabi, Coinomi, and many others. For Bitcoin, there's also Electrum.

I'm curious why you still consider storing on online wallets and mobile apps when you already do it on paper wallets?
If you are having doubts about them, just get a hardware wallet.

Jercyhora2

member

Activity: 504

Merit: 23

Epsilon Omega

I'm curious about storing our assets online, mostly online wallets. Do you think there's possibility the developer collect our address, especially our private key?
I usually store my coins on a paper wallet and we all know storing in a cold wallet is the safer way to secure all assets.
Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

Topic: Decentralized Application (Dapp) (Read 246 times)