Here is a Look at Bitcoin as a Dapp
In Bitcoin’s brief history, it has gone from an unregulated currency for illegal activity to a legitimate and convenient facilitator of global commerce. Sure, the crypto has been influenced by a myriad of factors that have collectively made it one of the most unpredictable currencies in the world. But, despite this uncertainty, more than 300,000 bitcoin transactions are taking place every day, and the numbers are still growing.
Today, bitcoin is evidently far more than the peer-to-peer (p2p) cash system that Satoshi Nakamoto envisioned eight years ago. Global computer networks are mining new coins every other minute, e-commerce websites are thriving, and even giant real-world companies like Tesla and Virgin Galactic are beginning to accept Bitcoin as a payment method.
That said, Bitcoin — and cryptocurrency as a whole — is relatively still in its early stages of adoption, and it’s riding a constant wheel of evolution. Although cryptos are poised to become the universal currency of the future, an even more promising trend seems to be decentralized applications (Dapps).
As cryptocurrencies become the norm in the coming years, experts are postulating that peer-to-peer applications will surpass the world’s biggest software corporations in user-base, utility, and network valuation because of their superior incentivization structure, transparency, resiliency, flexibility, and distributed nature.
The emergence of Dapps
Visionaries describe a completely decentralized world as one where the idea of a central body managing a digital network is non-existent, and every bit of communication or transaction happens directly between two parties. Ideally, that depicts a society where online apps, websites and utilities don’t require an intermediary to function, and not even the entity that creates the system has control over user information.
