Today's scenario, on a day-to-day basis, we have been hearing a lot about the latest terms like cryptocurrencies, blockchain technologies, decentralization networks, and even more. One of those where we can hear is DApps - Its a Peer-to-Peer (P2P) based, without the central server, and open source applications that have evolved a lot more now. Before, we getting into this topic, let's see a few information about DApps, & Why do you need it.
What are Decentralized Applications (DApps)?
In this world, dapps can have the ability to control the data through the users who are enabling the internet and earn money more. The concept of DApps is nothing, it's a decentralized network, where details should be stored on a public and decentralized blockchain that helps to avoid any central authorities. In addition to this, it acts as proof of value, some of the applications should accept the cryptographic algorithm standard and generate tokens according to it.
Even though a first DApp was named as the Bitcoin, provides more solutions on the centralized networks and censorship came along with the Ethereum - An open-source and blockchain-based platform with smart contract functionalities. The process of making blockchain apps is easier with the help of ethereum and also more efficient than before. Instead of developing a blockchain for each application, it provides the development of any number of applications in single platform ease.
Nowadays, we have a certain number of decentralized applications (DApps) that are using with the own blockchain or else by the existing with their own tokens. Some of the types of DApps are available, apps that can manage money, apps where the money is involved, and on the other categories like voting, and governance.
Why would you need DApps?
DApps helps users and providers directly, without any mediators that can interface with its operations, and manage the user's data. Now we can know what is Decentralized Applications (DApps) are, still are more doubts around this concept. Here, we can see some of the reasons why dapps are the future?
Store your own data:
In today's internet world, the web is very centralized that means the major number of apps and websites have the user's data. In this technological world, data would be the most valuable asset. With the use of Dapps, you can increase and maintain the ownership of your own data, instead of others own it and making a profit from it.
Increased data security:
Decentralized apps help to keep your data more secure from the fraudulent activities, and hacking attacks as there is secured cryptography. We have already mentioned the absence of a central point of failure. In centralized networks, all of your data is stored in the central services. If gets an issue, there is a chance to take your data away as well. Dapps is something different, that it's a permanent web where you can keep your data secured and also you can decide where to store the data by yourself.
Fast data transfer:
By requesting the data from the server, it took time to retrieve data from there. But, in the decentralized network, your data copy is near to you, and you can easily get it from there.
Nobody can block it:
In centralized networks, authorities and governments can shutdown websites due to a large number of reasons. Let's see some of the examples here, As many of them have heard how Facebook got banned in China, Wikipedia in Turkey. With the decentralized apps, users can access the data from the offline even if it is blocked.
The above-mentioned thing which shows that why decentralized applications (dapps) is the future. Successful dapps can change the internet as we have known it already. Due to its transparency, reliability, and scalability, dapps have the capability to change the internet world. Especially, when we can talk about the control of our own data which is handled by the world's largest corporations.
Many corporates and governments are looking to invest in the blockchain technology, to keep the data safe, eliminate the fees, removing third parties, and saving time. Are you planning to create a decentralized application (Dapp) for your business? Reach out to the top-most dapp development company that has experts to offer the best dapp development solutions with the latest trends thus creating powerful Dapps as per the business needs.
As always, technology will change every time and it can be counted to disrupt many of the industries. Blockchain is one of the best technology and started to evolve in many of the business sectors and various industries like, healthcare, voting, supplychain, and e-commerce, etc. The only reason for the growth of cryptocurrencies is blockchain so that it reaches many people. However, dapp is one of the products that use blockchain technology. These applications work on without the need for the central authority to perform any kind of transaction. In this article, we are going to discuss what is dapps? it's working process and how dapps is transforming the healthcare industry.
What are dapps and how it works?
Dapps is an acronym of decentralized applications. It's a web app used for the purpose sharing of information between the users safe and secure. Unlike the other applications, there are no middlemen available to process your information. In any additional changes if required is done through mutual consent. Every when do share data, a copy of the app get stores in the computers of all users, and also it doesn't think that how many of them are available into the network.
Probably, Bitcoin is one of the first decentralized applications (Dapps) that run on the blockchain networks. The main usage of this app is to do financial transactions safely and you don't need central authority for processing any kind of transactions. The details of each person who are all in the process can add as an entry to the ledger. Nowadays, dapps have been used for storing and managing all kinds of financial transactions virtually that includes Personal identity, intellectual property, information of healthcare details, and smart contracts.
Today, decentralized applications have gone from storing and managing financial transactions to virtually all forms of information, including personal identity, intellectual property, smart contracts, and of course, healthcare data.
Decentralized applications (Dapps) in the healthcare industry:
Apart from the usage of dapps in the financial and banking industries for financial transactions, this technology has also been very helpful in the health care industry. Let's look into that, how the usage of dapps in the healthcare industry?
It is to be expected that the best use for dapps in the healthcare industry. When a patient has undergone treatment, all of the details related to the patient have been stored in the app. It can share the information in the connected networks. It denotes that if the patients visit hospitals at any time you can retrieve the details about them easily. Another benefit is that sometimes patients who have similar symptoms can be treated with different medications. If the data is updated, doctors can easily know which one is more beneficial treatment and proceed using that medication to consult the patients.
Secure Data Storage:
Another important usage of dapps is that it can store the data and share it across all the members of the group who are all interconnected into this network. It means that there is no central authority or server where hackers could target. Every hospital stores some important data on secured servers. Moreover, there is a chance of any vulnerable attacks can be held by hackers which help them to steal the personal and medical records of each patient. Having the data and it spread across an app will frustrate hackers. And also they easily theft the data if your network is decentralized.
Patient's Health Data Records:
Instead of storing the health records of each patient's details in a centralized ecosystem, they can store it in a dapp which is owned and easily controlled by them. They could decide who must view the information through the app. In a dapp, there is an option that you can easily integrate the medical records of the patient from wearable devices. It will help every doctor to provide a complete overview of the patient's health conditions.
Contracts and Agreements:
Each time, when someone has undergone surgery it is very difficult for getting the signatures of the patient's family members. Some forms need to be completed and signature affixed and sent those details to the central authority for approval. In the case of a dapp, the patient's relatives and the hospitals can easily manage the data without the need of any central authority. It saves a lot of people's efforts and also time.
The on-demand service providing app has made the changes felt in the healthcare industry. These apps can help in the supply of medicines and also you want to consult with the doctor whenever you want. But, there is no security purpose available for this app. With the help of decentralized applications (dapps), it provides the best solutions to keep all the information safe and secure. Even if any issues occur, it can be identified and rectified easily.
From the above-mentioned points, it is very clear that decentralization is quite changing and revolutionizing the healthcare industries. The fact that it can keep each patient's record safe and gives them full access. This would be enough reason to push forward this technology to the various industries that are all facing these issues consistently. If you are planning to build decentralized applications (dapps) for your healthcare industry? We, Osiz Technologies - An industry-leading dapp development company provides the best dapp development solutions for any industries at an affordable cost that makes you stay ahead in this competitive world.