Benefits of dapps

AlphaWallet lets you interact and access Dapps (decentralized applications) via the web3 browser or with SmartTokens, which enable you to use Dapp smart contract functions directly with your tokens.

What are ‘Dapps’, or decentralized applications?

Decentralized applications (Dapps) are applications that exist on a P2P network of computers, such as a blockchain, instead of a single hosting server. They work like regular apps, but without being controlled by a single authority.

Dapps that exist on the blockchain will often need the user’s tokens to use its features, such as game tokens, trade, stake, earn interest, etc. Using AlphaWallet together with the Web3 Browser lets you use these dapps while keeping control of your tokens.

What are the benefits of using dapps?

• The main benefit is censorship resistance. With no single entity controlling the Dapp, it’s very difficult for anyone individual or government to control or restrict access to the dapp.
• Existing on a P2P network of computers, it doesn’t rely on a single point of failure like a hosting server. This ensures no downtime or restrictions.
• Dapps are open source. This encourages faster and more secure development of the ecosystem.

What are the issues?

Together with the crypto and ethereum ecosystem, Dapps are still largely experimental and face some challenges.

• They are more susceptible to being hacked. As many are run on open-source smart contracts, hackers have the opportunity to look for weaknesses to exploit. We recommend keeping your funds under your control with a wallet.
• Poor usability is an issue still being worked on. The ecosystem is complex and with a lot of new concepts to become used to, which means many Dapps are still not easily accessible.
• Lack of users. Being an early technology, many Dapps struggle with low user numbers, which make them less usable and bare in content. But this also means a lot of new opportunities for early adopters.