Dapps


Imagine a world where you can send money without paying commission, control the information you share on the internet and get claims settled without the need of any central authority. Blockchain has made it all possible with decentralized applications (Dapps).

What are Decentralized Applications?


Decentralized applications or Dapps are unstoppable autonomous blockchain-based applications. Once created these apps continue to function till sufficient computing and memory are available. These are called decentralized for the simple reason that they remove the intermediaries and function automatically. Bitcoin is the most popular example of decentralized applications. It allows the exchange of currency without the need for a bank to manage the transfers.

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What makes an app decentralized?


For an app to be considered a Dapp it should comply with following principles:

Decentralized
The memory, computation, and control of the application should be managed by a network of computers with no central point of access.
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Incentivised
For a blockchain to be successful it needs support from miners. The application should provide incentives to miners who provide computing power and memory.
Open Source
Ideally the code of application should be available to everyone for evaluation. The development and upgradation should be managed by a community of members. Any change should be decided by voting among consumers or miners.
Protocol
The developers’ community must use a cryptographic algorithm to show proof of value. For instance, Bitcoin and Ethereum use Proof of Work (PoW). Ethereum also has plans to move to a hybrid PoW/Proof of Stake (PoS)5 in the future.

Monetizing Your DApps!


Launching your Token

The ideation for the requirement of the token must be defined in terms of core functionality, network access, and profit distribution mechanism. The AML, GDPR and KYC compliances must be strictly followed for the token or coin to be considered secure.

Advertisement

Advertisements are the least popular method, however, you will be able to offer an array of slots in the smart contract for companies to advertise. These are represented by pixels in the front end of your DApps. Companies can use the pixels in order to advertise their brand.

Freemium

Freemium services are DApps that will have a free version and a premium version. Users can operate the DApps at the premium level and skip efforts to level up in a game or close an advertisement. These are targeted at people who would pay a premium for comfort.

Subscription

The DApp membership will be based on subscription to the DApp services. These can be either Time-based or Usage-Based. Adding functionalities to smart contracts allow paid members to have additional functions.

Commissions

The commissions from each successful auction will prove to be a successful revenue model. The right amount of commissions must be charged to your users, as the users might be poached by a competitor who has lower fees.

Donations

You can ask donations from generous users for the updates and maintenance of the DApp. These donations can be used for the implementations of new features and upgrades in the DApps. This will allow the DApp to be up to date at all times.