Dapps and smart contracts

By Carded0421 | CryptoSphere | 12 Mar 2021


When building Dapps the needs of the user must be considered. What needs can developers address in the public that blockchain based technologies can serve? In the past, services like Twitter have been filled with people impersonating well known figures and trying to steal cryptocurrency. A blockchain is the perfect place to store sensitive information such as identification data or passwords that could prevent people from getting scammed. How does storing sensitive data on a blockchain prevent people from getting scammed?

Smart contracts are a new concept but they have existed for quite some time now. A smart contract is a program that runs on a blockchain that automatically executes actions based on certain conditions. A simple example of this would be an ERC20 token. Such as, lets say you have a FANToken and Frank needs to send this token to Alice. In traditional blockchain systems, Frank would need to get Alix's private key before he could send the tokens to her. This is obviously quite a large security risk as the person who created the wallet could have thousands of dollars in cryptocurrency and hackers would be able to steal it if they found out what the wallets private key was. With a smart contract, no private key is needed because the blockchain can automatically move tokens from one account and add it to another based on the specific rules of the contract. All the contract needs to know is how much money exists and what the address of the wallet is that will receive the funds. In this case, Frank would initiate the transfer by stating how many tokens he wants to send to Alice. The smart contract would check to make sure Frank has enough tokens then authorize the transfer. The smart contract needs a set of rules written for it called a "contract" which must be coded before it can function.

Smart contracts and the need to secure data are important factors in developing Dapps. The process of developing a Dapp involves a lot of back and forth with the users to find out what problems they have and design a solution for them. This approach is called "user-centered design" and ensures that the people who will use the Dapp will be satisfied with it. It also helps designers ensure that the needs of the users are met. The process of finishing a Dapp and getting it into the market is called "prototyping". This involves writing a demonstration version of the dapp and making sure that it works correctly. After the Dapp has been made, it can be published and put online for people to use. Most websites online have an area for people to write reviews and give feedback on products that are available online. These websites can be used to check whether your product is any good or not. In conclusion, this report has given a broad overview of what goes into making a Dapp and how to secure the sensitive information that it may need to use. This report has not included details about how to actually build the dapp as that information is found through trial and error over time.

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Carded0421
Carded0421

Cool Guy, does stuff.


CryptoSphere
CryptoSphere

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