Decentralized applications use blockchain technology to connect users and providers directly without the use of a middleman. Some criteria for DApps are:
- Open-sourced - The source codes are available to the public.
- Decentralized - Everything is stored in a public ledger.
- Agreed upon cryptographic algorithm - Utilizing Proof-of-Work (PoW) or Proof-of-Stake (PoS) to show proof of value.
- Incentivized- Having a reward for blockchain validating users.
Current leader when it comes to DApps. Top applications include:
- Crypto Kitties Platform for trading, breeding and collecting crypto kitties
- Basic Attention Token For online advertising
- Ethlance Platform for hiring freelancers or working for Ether cryptocurrency
- Etherisc For decentralized insurance