Blockchain and the Dapp
The idea behind blockchain technology is simple – to create a perfectly immutable, distributed ledger of transactions where entries cannot be altered by anyone after the fact. There’s more to this technology, though, than just creating and maintaining this ledger (i.e. blockchain). Really, this chain can be thought of as the back-end of a new type of software known as the decentralized application (shortened to “dapp”).
These dapps, and their corresponding blockchains, act not only as programs meant to perform a certain set of tasks, but also often as fully-contained businesses. Unlike a regular business which is controlled by an owner(s) or CEO/board of directors, a dapp follows a business plan pre-defined by a cryptographic algorithm…
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