Connect blockchain activity to off-chain apps and devices. Monitor and secure DeFi applications.
As blockchain adoption continues to grow, decentralized applications (dapps) are almost certain to gain more traction as more and more businesses and developers look to leverage these blockchain technologies to build a decentralized customer experience. While the industry still has some work to do in terms of creating dapps that will be accepted and adopted by the masses, it is likely only a matter of time before this happens. Therefore, in these early stages of the dapp industry, it is more important than ever for businesses to begin thinking about how to design and implement dapps, as technology enables a more decentralized world.
First things first, what exactly is a dapp? And how does it differ from a typical application which exists today? Generally speaking, a dapp is an application which is built on a decentralized network which combines a smart contract and a front end user interface. From an end-user perspective, dapps shouldn’t behave much differently than the apps that are commonly used today. The biggest difference lies in the fact that all of the data and backend of the application is not centrally stored (e.g. like on a Twitter server). This lack of centralization makes the dapp very powerful, as it basically means that they are completely independent and autonomous, and not under the control of any single company or entity.
While dapps have not yet hit the mainstream, they are growing in number and popularity. There are currently thousands of dapps both in use and under development, with some of the most popular ones being tracked by sites such as dappradar.com. Here, dapp categories spanning NFTs to DeFi have registered anywhere from thousands to hundreds of thousands of users. With the use cases for dapps growing, and interest in these blockchain products rising alongside, adoption is certain to increase over time.
Despite the rising popularity and re-kindling of interest in the cryptocurrency markets, NFTs, and DeFi, conversation around dapps barely registers a blip when compared to all of these other areas of blockchain.
But why? Quite simply, the user experience simply hasn’t been good enough for most of the dapps that are currently available. And while it is a great luxury to know that the data and information behind a dapp isn’t controlled by one entity, the usability and utility that many of these dapps provide simply is not at a level that can compete with the popular centralized apps of today.
Itransition, a software development company, expands on our idea:
Dapp creators have to go to greater lengths when trying to onboard users as blockchain and decentralized technology in general is often beyond grasp for many. While web applications are habitual, with their UX design being exemplary in terms of ease and intuitiveness, there’s hardly a dapp that can currently offer as simple a process as a single-click sign-on with a social media account.
Instead, it’s expected that a user already has a range of crypto tools, such as a wallet, and at least a basic familiarity with the mechanics of decentralized transactions and the economic model behind tokens. This is one of the reasons why dapps are still more of a niche for blockchain geeks, while those accustomed to traditional centralized web apps are often put off by the apparent complexity and required effort.
- Dariya Efimova, Digital Transformation Observer & Chief Editor at Itransition
To truly help dapps to take off, these decentralized applications need to be able to provide a meaningful, rewarding, and impressive user experience. Besides the UI/UX component of the application, aspiring dapp creators should also contemplate how to incorporate existing blockchain trends into their applications – thereby leveraging the popularity that comes with the mania that is currently ongoing in the crypto industry today.
Developers can also consider tools such as those provided by PARSIQ when building their dapps. PARSIQ is one of the first in the blockchain industry to provide software solutions which connect blockchain activity to off-chain apps and devices. PARSIQ’s software allows for the monitoring and securing of DeFi applications, and has easy to use customized triggers, which drive various automations which can be defined by the user.
With these easy to use and implement functionalities, dapp developers can design features in their applications which allow their user base to monitor and track topics that are important to them.
🧠 As an example, with the NFT space continuing to be red hot going into the summer months of 2021, dapps can provide users a service which allows their customers to track their favorite NFT creators through their application. By now, even the general public is somewhat aware of the fact that NFTs exist, and that an artist named Beeple sold a piece of NFT art via Christie’s which brought in more than $69mUSD – the highest price paid (to date) for a piece of NFT art so far.
What may be less known is that Beeple regularly releases work – and that his NFTs drop via his wallet, which can be tracked on the Ethereum blockchain. A look here quickly shows all of Beeple’s activities on Ethereum, and illustrates the amount of activity he regularly has. While finding and validating an artist’s wallet may not be as easy as it is for someone like Beeple, getting into contact with a NFT artist these days is not so difficult, as many are out there on platforms such as Twitter – growing their independent communities.
👁 With PARSIQ, dapps can allow users to enter in the wallet addresses of their favorite NFT artists, and allow them to be informed every time that artists makes a new drop on the blockchain. These users will be amongst the first to know about when the next pieces are available from their favorite creators!
Additionally, dapp developers can also create solutions which allow their user base to keep track of their crypto wallets or crypto assets. With such a solution, users can leverage PARSIQ solutions which help to monitor the activities of their crypto holdings. Perhaps coupled with an easy to use interface provided by the development team, dapp developers can allow their customers to easily monitor their crypto – all while enjoying the peace of mind that their assets remain safe and sound on the blockchain.
It may take some time, but dapps are here to stay, and will soon fully revolutionize the way that users experience the decentralized web. While still in the early days, there are massive opportunities for developers to get ahead of the curve, by continuing to refine the UI/UX of newly created dapps, and in ensuring that the utility that one derives from using the dapp is truly valuable.
PARSIQ is here to support all of those development communities who wish to provide their customers with solutions that enable them to stay connected to the most important crypto topics of the day. With the dapp revolution under way, how will you win customers onto your platform? Remember to consider PARSIQ as you visit all of the available strategies.