Ethereum Blockchain DApp Development Company
Blockchain DApp Software ServicesWe at TokyoTechie are one of the most searched for Decentralized Applications (dApps) development company. We are one among the forerunners in creating blockchain-powered decentralized apps. Our experts have been developing dApp solutions with exclusive state-of-the-art features since a long time now.
What is a dApp?The idea behind decentralized application development began after the launch of Bitcoin, a decentralized digital currency that used blockchain-infused decentralized ledger technology which now is trying to get leveraged by industries across all domains. A dApp is rather much different than other conventional applications that uses client-server model. Blockchain is a peer-to-peer network, that means there is no central authority. It is controlled by entities that form the network but are independent of each other, which makes data fraud an impossibility. There are basically two types of decentralized applications:
a) Anonymous dApps
b) Reputation-based dApps.
The Reputation-based dApps have all their nodes tracked whereas in case of Anonymous dApps all activities by the users remain anonymous on a peer-to-peer transfer protocol.
Why should you use Decentralized apps?Decentralized Applications use distributed backend and are not guided by a central database or authority and hence are more transparent. Properly optimized dApps work really fast with amazing security features. The benefits offered by decentralized apps are enormous that include:
- Blockchain backend to secure your data permanently
- Decentralized core that ensures there’s no central authority
- Open-Source platform allows for easy development and availability to all
- Excellent Incentive and Reward programs for strengthening customer loyalty
- Strict and Secure algorithms and protocols that automates majority of activity
Decentralized Application Features
Distributed CoreDue to the unavailability of a central authority and a principal server any failure is improbable. Failures always take place on the servers of conventional applications whereas dApps do not work on the standard client server protocols. The distributed ledger system of blockchain lets the data stored to be distributed among its nodes that are independent of each other. We at Tokyo Techie use Interplanetary File System (IFS) and independent DHTs to create decentralized apps.
Decentralized ValidationThe data has historically been always validated by some sort of singular authority. For example, while making a payment a transaction had to be pushed and monitored through a clearing authority.
In case of Blockchain-powered dApps the nodes interact with each other directly and hence there is no single authority that monitors or authenticates. Since a transaction works on a consensus mechanism the majority of validation ensures the clearance of a process where the validators get rewarded too with tokens.
IncentivizationEvery transaction has to pass through a consensual validation by all the nodes within the blockchain and only then it is cleared. dApps allow for a reward-based system where the validators shall get rewarded with tokens or other rewards for participating in validation of a transaction.
Open Source DevelopmentDecentralized applications are by definition a consensus-driven technology and hence are open to modifications by anyone participating and building their own chain. Blockchain-infused dApps allow scrutiny by developers and investors all over the world and anyone can create a dApp of their own.
Types of dAppsThe Ethereum has classified dApps in three categories in its whitepaper.
1. Blockchain Applications for FinanceThe financial dApps help people make digital financial transactions over the blockchain in a secured environment via cryptocurrencies such as Bitcoin, Ethereum or Ripple. The applications are entirely different with regards to its backend mechanism. With no central authority to monitor or approve the transactions, financial dApps work on a consensus-driven model with no single database or gateway for processing. Rather all nodes within the blockchain are responsible for validating a transaction who also get rewarded with tokens for participating in the voting process. Here the power regulation rests with the people within the network where only the ones who are dealing the with money are the ones responsible for managing it without a middleman such as a bank.
2. Semi-Financial dAppsThe basic example of such dApps are ICO (Initial Coin Offerings). ICO is just the cryptocurrency form of IPO (Initial Public Offering). Traditionally IPOs have been used when a company decided to go public or issue shares which can be bought by investors using fiat money. ICO is the same form of fundraising process in the cryptocurrency market where the shares can be further converted into coins or tokens and listed up for sale on cryptocurrency exchanges for investors to buy. Semi-Financial dApps include both fiat money as well as cryptocurrencies and therefore ICO is a classic example. Here people can invest by sending funds to a smart contract in the form of Bitcoins or Ethereum whichever is applicable.
3. Fully Functional dAppsThese dApps are completely decentralized and use distributed ledger technology. These are mostly used for non-monetary features of an application. For example voting, decentralized governance. Some countries are already in plan to implement fully functional dApps for its reliability, scalability and security features.
dApps OpportunitiesdApps is the future of blockchain in the mainstream business. There are plenty of way to monetize your blockchain-powered dApps. Let’s first understand how the traditional apps earn money. Advertisements and Premium versions of applications are still in vogue among the others. For advertisements the advertisers pay money to the app owners for publishing their Ads and also paid to the content creators. The other form of monetizing applications were offering trial periods offers with limited functionality in order for the users to understand and use it. Further they had to avail the full version or the premium version against a certain amount of payment.
Token OfferingsAlso known as Tokenization of Assets Offering or TAO. One can decide to raise a crowdfunding simply by tokenizing their assets which then they can put up for sale over exchanges. In return of the tokens they receive cryptocurrencies such as Ether or Bitcoin and they got a share of ownership of the asset. In information that lives on forever on the blockchain.
Commissions for TransactionsOnce you own a dApp and people start using it for buying and selling through digital currencies, you can charge a certain percentage as transaction fees. In some exchanges that are very popular, the transaction fees alone get as high as 3 million dollars in a day.
Blockchain GamesNowadays games such as fantasy stock trading are in fashion where you can buy hundreds of thousands tokens or coins against a couple of dollars to simulate a real life stock trading. One can have fun along with learning the basic ideas behind real trading that involve fiat or cryptocurrency. These blockchain games are infact advisable to be played by the early learners of stock trading. Such games can attract a lot of attention and money.
SubscriptionWhile operating a blockchain exchange it can be easily monetized by offering subscription requirement to use specific features of the dApp. There can be time-based as well as usage-based subscriptions that can used as per the functionality it will be based on. For example, voting needs a lot of criteria, such as a certain amount of transactions, certain balance of tokens/coins, etc.
AdvertisementsMost of the dApp exchanges for buying and selling of cryptocurrencies and tokens have millions of hits per day. Even for new exchanges that are available with state-of-the-art features, the average number of hits hover beyond thousands in them. Earning from advertisements call for an easy money making through these channels.
Why Choose TokyoTechie
We at TokyoTechie have covered several milestones in creating Blockchain Dapp software services along with a long experience in creating exclusive UI/UX and algorithms. We have several years of expertise and proficiency in creating Smart Contracts and Blockchain games development as well.
We follow strict guidelines while developing your decentralized applications:
We offer customized blockchain development which enables fast and instant transactions, freedom from paying huge amounts of gas fee, allows you to have multiple levels of control and access, user-friendly dashboard among others.