Decentralized Applications (DApp) 

A decentralized application, also known as a DApp, is a type of software application that runs on a decentralized network, such as a blockchain. Unlike traditional applications that are run on a centralized server or network, DApps run on a distributed network of computers that are spread out across the globe.

DApps are designed to be open source, meaning that their code is available to everyone for inspection and development. This makes them more transparent and secure, as anyone can check the code for vulnerabilities or errors. Additionally, DApps often make use of smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into code.

Examples of DApps include decentralized exchanges, such as Uniswap, which allow users to trade cryptocurrencies without the need for a centralized intermediary; decentralized finance (DeFi) protocols, such as Aave, which allow users to lend, borrow and earn interest on cryptocurrencies; and social networks, such as Steemit, which reward users with cryptocurrency for creating and curating content.

Overall, DApps aim to provide a more secure, transparent and decentralized alternative to traditional applications, with the potential to disrupt various industries by removing intermediaries and reducing the need for trust in third-party entities.

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