A Dapp, or decentralized application, is a software application that runs on a distributed network. It's not hosted on a centralized server, but instead on a peer-to-peer decentralized network.
1. Open Source
So, basically, Dapps are the applications that are made on a decentralized platform, they are the backbone of web 3.0.
They run on a decentralized platform that makes the data involved in the process very secure as there is no centralized agency that is having an eye on it.
Platforms like Ethereum, EOS, NEO are some of the best platforms to make Dapps and run it.
Ethereum is a network protocol that allows users to create and run smart contracts over a decentralized network.
A smart contract contains code that runs specific operations and interacts with other smart contracts, which have to be written by a developer.
Unlike Bitcoin which stores a number, Ethereum stores executable code.
Because Ethereum removes the need for a third party to handle transactions between peers.
Since the middle man is replaced by
code, all kinds of costs are reduced, including time and money.