Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Daisypearl on July 20, 2022, 06:59:55 AM
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Dapps vs Smart Contracts
Dapp is a blockchain-based website or application, whereas smart contracts act as an API connector between[https://qr.ae/pvkJKC] blockchain and decentralized applications[/url].
Dapp is the technical combination of smart contracts and front-end, wholly operating as a computer program. Meanwhile, smart contracts are just a small component of Dapps.
In simple terms, Dapp utilizes the help of smart contracts to connect a user with the service provider.
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dApps are decentralized programs that run on blockchain. They have no central authority, they just connect the participants in the network. For example, DeFi lending platforms allow you to borrow without intermediaries. Since there are no executives, all transactions happen automatically using smart contracts.
Smart contracts are self-executing contracts. In fact, it is a programmable protocol in which a certain logic is laid. Smart contracts are based on if/only commands. If a certain action occurs, it will trigger another action.
So, answering your question, dApps are applications that work on the basis of smart contracts. Smart contracts are elements of dApps.
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I'd say dApps are always built with smart contracts in mind, utilizing smart contracts for the backend.
But smart contracts have wider use, not only for dApps. Token for example is a product of a smart contract.
So decentralized application is one of the many implementations of smart contracts, especially handling the backend.
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Smart contracts and dApps are getting to be two major components for DeFi as we are seeing it now. dApps are of course using smart contracts acting like the brain in the whole ecosystem. Unfortunately, these days, there remains to be a big problem when it comes to security as we always hear of a platform being hacked and drained of digital assets every now and then. I am looking forward to the time when this issue can be of the past rather than being a present danger.