This is not a dapp.

It’s not a dapp!

Common features of a dapp:

Open Source. Ideally, it should be governed by autonomy and all changes must be decided by the consensus, or a majority, of its users. Its code base should be available for scrutiny.

Decentralized. All records of the application’s operation must be stored on a public and decentralized blockchain to avoid pitfalls of centralization.

Incentivized. Validators of the blockchain should be incentivized by rewarding them accordingly with cryptographic tokens.

Protocol. The application community must agree on a cryptographic algorithm to show proof of value. For example, Bitcoin uses Proof of Work (PoW) and Ethereum is currently using PoW with plans for a hybrid PoW/Proof of Stake (PoS)5 in the future.

INSPIRED? Share your – not a dapp story – here in the dedicated subreddit and let’s get the ball rolling.

Alternatively get on board and join the Decentralize Me Too campaign we recently launched with BitMan360.