As crypto spreads throughout the public consciousness some features of it may need a little explaining. One term you may notice more than others is Dapp.
So what is a dapp?
Nothing complicated here either. A dapp is a decentralised app. Yep, it’s that simple.
But what makes a dapp any better than any normal app?
No central entity is running it for one. There is no central server that can be hacked to take down the app or gain user information.
Most dapps were created to utilize a blockchain and distributed ledger technology. This blockchain does not have to be Bitcoin either. There are many different coins out there that dapps have been created on.
Generally they are cryptographically secured and require nothing more than installation. Once this is done there will usually be a backup hint. This is to remind you to copy down the security words.
Just like Hard drives holding lost bitcoin in waste dumps, without those words your data is gone forever.
With those words safely stored, it does not matter if you lose your device. With a simple reinstall of the Dapp on your new device you can recover all of your data back again.
Losing your information though holds the key difference here.
With most apps, social media, gaming accounts etc, loss of your password is no real big issue. There will usually be some way of recovering your password. Mayhaps you have to speak to a Customer service agent and have your password reset? With a DAPP there is no number to call to recover a lost password, if you lose it, its gone.
The Real Question
So this is where the question arises. Are you content with others storing your information, passwords etc or would you prefer to be the only one holding this information?
Obviously, some do not want this extra responsibility. Some seem happy with continuing the status quo of giving your information and watching that information being hacked on the regular.
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