How to Develop a Decentralized Application(dApps) in 2023

dApps are Blockchain-based applications and have become a hot topic in crypto. If you have heard about them for the first time, continue reading to learn what they are along with step by step dApp development process.

Key Takeaways :

• Decentralized applications are smart contract-based applications that operate on multiple platforms at the same time.
• One of the biggest constraints with dApps is the new user onboarding. First-time users must know how to use them to enrich the user experience.
• Before commencing the dApp development process, you must select a blockchain, as there is a lot more on the platform apart from transactions that demand your attention.

Table of Contents

Differentiate Between dApps and Regular Apps

Decentralized apps are Smart contract Blockchain-based solutions that operate on peer-to-peer networks. The application works on a consensus mechanism and is free from the intervention of central authority. According to tech experts, some dApps will bring Web3 revolution and replace centralized architecture with a decentralized approach. The main goal of dApps is to give power to the users, eliminate intermediaries, and build trust via automated distributed cryptography. These are technical solutions, so they are developed with the assistance of dApp development company.

dApp Market Analysis & Predictions

• dApp (decentralized application) industry experienced a 50% increase in unique active wallets (dUAW) in 2022
• An increase was observed from 1.58 million daily dUAW in 2021 to 2.37 million in 2022 on average.
• Businesses and consumers recommend that the industry’s future will be bright and allow them to capitalize on their investments with dApp development solutions and earn remunerative gains.

Advantages of dApps :- 

• Involves No Intermediaries

dApps operate without any intervention from the central authorities and help users perform transactions directly. The users are supposed to pay the transaction fees, which are generally very low. The best thing about these applications is that it has multiple front ends. Businesses can develop the front end per their preferences, as the code can be accessed via the chain.

A be transparently accessed via the chain.

• Impressive Uptime

The applications are smart-contract based and operate at all times of the day. The application would run smoothly if the smart contract code ran smoothly.

• Participate in a Decentralized Economy

Decentralized applications help users earn incentives. The users can earn tokens, trade currencies, or exchange them for Fiat later.

• Security & Data Integrity

Security is one of the most significant features of Blockchain technology as it doesn’t have any point of failure. Due to this, hacking or gaining control over decentralized applications sounds like an impossible task.

• Enhanced Privacy

One can access the transactions using the application even after keeping his identity hidden.

Types of Decentralized Apps :- 

• Type 1

These applications have their Blockchain, such as Bitcoin. Other cryptos that have their Blockchain are also considered under this category.

• Type2

This category procures the benefits of apps of the Type1 Blockchain. Omni protocol is an excellent example of this category. Omni has been developed on top of Bitcoin, which exchanges assets or value between parties without involving any third parties.

• Type3 

Type3 dApps harness the capabilities of Type2 applications.A safe network is the best example of Type3 dApp.It is an autonomous data network that develops censorship-free websites and applications.

Popular Decentralized Applications that Have Dominated the Industry

• Uniswap

Uniswap has become one of the prominent decentralized exchanges. DApp development experts developed the application to exchange Cryptos on the Ethereum network.

• RareNote

Rarenote provides information on medicine in the development phase with clinical trials of rare disease patients.

• OpenSea

Opensea is the biggest peer-to-peer market for NFTs such as gaming, digital art, and other blockchain assets.

Industries that can Invest in dApp Development

dApps have helped several industries boost their revenue, as discussed below:

• Gaming

In gaming dApps players competes with each other. By investing in gaming dApps you can boost your income by promoting or sponsoring the game content.

• Decentralized Exchanges

The decentralized exchanges allow users to trade a market share. Investors are supposed to pay a transaction fee while investing in a stock exchange. This help investors and businesses spending their money on  Decentralized exchanges boost their revenue streams.

• Marketplaces

By introducing your transaction fees model, you can boost your revenue with NFTs.

• Payment dApps

Enjoy real-time streaming with the money streaming facility organized by dApps.For every transaction you perform, the platform will charge transfer fees. As an owner, you earn revenue as a percentage from every fee share.

6-Step dApp Development Process

The process of developing dApps is more complex than developing a traditional application. The crypto wallet development process has been divided into steps as highlighted below:

#Step 1 : Requirement Gathering & Analysis

The first and foremost step of dApp development process starts with identifying the right use case. Initially, the issue is identified and analyzed before recommending a feasible solution. The Blockchain consists of five integral components:

• Encryption
• Immutability
• Distribution
• Decentralization
• Tokenization

Visualize the issue and think of two components mentioned above that will solve the issue. This is how the issue needs to be resolved.

 #Step 2 : Create Proof of Concept(Proof of Concept)

In the second step, Proof of Concept is devised to give stakeholders an idea of the project. After devising the Proof of Stake, we move towards the next step, creating a design prototype. Keep the POC brief in case you want to devise a smart contract or show how smart contract functions. The POC cycle would take 2 to 4 weeks to complete.

#Step 3 : Design, Wireframes & Mockups

Once POC is developed, the design prototype is devised and shared with the client for approval. Alterations are performed based on the client’s feedback and give him an idea of the look and feel of the project.

#Step 4 : Development

After approval of the design prototype, we will start the wallet development process. The applications are developed using state-of-the-art tools and technologies. The project is shared as per the deadline committed by the technical team.

#Step 5 : Deployment

 Once the glitches and bugs are eliminated, the wallets are deployed on the Blockchain of your choice.

#Step 6 : Post-Deployment Assistance

We provide no-cost service and support per the agreement. Furthermore, the packages are customized as per your preferences.

The Cost of Developing the dApp

The cost of developing the application depends on the complexity and functionality of the app. The size of the agency impacts even the pricing. Share your requirements with dApp development company, which can provide a cost estimate as per your requirements.

Streamline your decentralized app Development Journey with Antier

dApps have opened investment opportunities for businesses and investors globally. To develop a dApp solution, you must associate with a reliable dApp development company like Antier that will walk you through the technical and regulatory challenges. Even the experts would integrate the right technology stack and robust security practices to help you stand out. We develop dApp solutions that will transform your dreams into reality. Consult us to learn more about our dApp development services today!