Bitcoin Casino Blog
The era of decentralization is upon us. The use of blockchains by the cryptocurrency giant, Bitcoin in 2009 opened a lot of odds including the creation of a new tech with gigantic potentials called decentralized applications.
It will be impossible to discuss DApps without talking about the tech that made it possible in the first place—blocks. Blocks are encrypted files containing various forms of data. These blocks are secured through a little code called hash. Each block contains two hashes—its own and the hash of the block before it. Any change made in a block changes its hash.
After a new block is created it will be added into a series of blocks called blockchain. This is what makes blockchain secure. If a tampered block has a mismatching hash with the block before it, this block will become invalid along with the next blocks before it.
Computers today can recalculate and adjust previous hashes to make tampered blocks valid again. To avoid this, creating a new hash involves various time-consuming requirements called proof of work.
To solidify the encryption, the blockchain is also distributed to everyone who wants to access it through any networked computer. Any change in the blockchain needs to be verified with a consensus of several users on the network.
Now comes decentralized applications or DApps. Similar to blockchains, DApps are public programs that use hash codes, a peer to peer consensus system and proof of work decentralizing its control.
Unlike single entity-owned apps, DApps are controlled by their users. This makes it impossible for anyone to abuse DApps. While the owner of traditional apps can shut it down whenever they want to, DApps will run as long as there are users in the network.
DApps also prevent centralized pitfalls. While users of traditional apps risk their data and transactions if it fails, DApp users can rest easy knowing that their data is safe because of its public nature. DApps are also very secure. Users can ensure that their data will be private because of the intricate methods needed to breach DApps.
It is safe to say that we are in the age of DApps. They are now used in different fields such as healthcare, gaming and banking. Basing from the description, Bitcoin is basically the first DApp in existence and more are emerging like Ethereum and Tron.