Decentralized Applications (dApps)
By CoinGecko | Updated on Aug 12, 2021
Applications that run on decentralized peer-to-peer networks such as Ethereum.Ethereum is one of the most popular platforms for developer to develop on as it can store various types of information, making it viable for games, applications or various tools to exist. Decentralized apps typically rely on a blockchains consensus to finalize transactions/requests, which eliminates centralized points of failure (eg. rogue banker, failed servers).
Related Terms
Option
It is a financial instruments that refers to a contract offers the buyer the right to buy or sell an underlying assets at a specified price and time.
Masternodes
Computers that are responsible for processing blockchain transactions and receive a reward when a block is mined.
Distributed Ledger Technology (DLT)
Describes the technology that enables distributed ledger.
Cold Wallet
Wallets that are offline and require physical access to certain devices (eg. hardware wallet, paper wallets)
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