Hey What's going on guys Ethan here back again with another great content . In the previous post i wrote about Dapps and in this post i will write about some of the decentralized applications you must have to see, so let's get started.
First one is an Israeli startup called La'Zooz. La'Zooz is an Decentralized version of Uber, whereas uber is an centralized ride sharing app, which means all data requests , and decisions go through a central server owned by uber. Uber decides how much riders get paid and can see where you're going whenever they want to.
La'Zooz is decentralized because it's owned by the community instead of a few people who own a giant server. The app uses its own internal currency called Zooz tokens.
These tokens are cryptocurrency like Bitcoin, except there are no miners thst maintainig the network with computing power. So no proof of work algorithm, instead, the miners are driver who maintain the network with the amount of miles they have driven. They get rewarded with Zooz tokens based on how much they drive.
It's an algorithm called proof of movement. Riders pay the drivers with these same tokens for rides. So how does everyone get tokens? Well Zooz has something called a crowdsale.
A crowdsale in a dapp is kind of like an ipo on day one. The creators of the dapp decide how many tokens they want to create, and then sell them at some initially decided price. These tokens act as both currency in the app as well as equity.Since you are an early adopter, you should be rewarded for being one of the first to use the dapp. The more valuable the dapp becomes, the more valuable the token become.So you can trade the tokens for flat currency to spend on other thing if yoou'd like since the app is peer to peer that means data moves from phone to phone with no server intermediary.And the app is opensource so if you wanna develop for it or setup a team of developers to contribute, you can do that. you can post a proposal for how much you'd like to get paid as well. Same for designers or marketers. The community decides on fund allocation. There are different ways to reach consesus and these are being experimented on with currently, but overall its a more democratic system where the people who use the app get to participate in how the app itself is run.The founders created a legal corporation and the by-laws require that they obey the will of the community vote.So looks like they're already off to a good start.
La'Zooz: http://www.lazooz.net/
The Second One is called OpenBazaar. OpenBazaar is a decentralized Ebay. Ebay decides what you can and cannot sell, takes a hefty cut of all transactions, and you have to be in a country that allows Ebay to use Ebay. OpenBazaar is a platform that lets buyers and sellers connect directly to seller their good without involving a third party to host the data and charge a transaction fee. The creators really wanted to build on the idea of truly free trade platform. I mean there never really has been anything like the bazaars of the past on the internet Bazaars were peer to peer marketplaces where buyers and sellers could interact directly with one another without any middleman in between able to observe the transactions. OpenBazaar doesn't have its own token but it does use Bitcoin for payments. They've got some amazing dope algorithms to solve some interesting problems. The app is also open source, so anyone can contribute but if they want to get team of people to continually maintain the app with quality, unlike a lot of other open source projects, they should issue an internal token eventually for incentivazation.
OpenBazaar: https://openbazaar.org/
The Third One is Synereo. Synereo is a decentralized social network this has been tried a few times before and failed. I'm looking at you "Diaspora". It always fails because the tech was never there and its been a security nightmare to keep user data secure.But i think synereo has a good shot at making a valuable social network. It uses it's own currency called the amp. In traditional social networks like FB and Twitter, the middleman gets all the money from advertisers.But since theres no middleman, since the app is p2p. If someone wants to pay for your data or attention, they'll pay you directly with Amps. All users get a reputation score based on how many pepole like the content they post. The hihgher the rep the more valuable your content is. Since the network is p2p no one can shut it down like the chinese gov did.
Synereo: http://www.synereo.com
Those are the few i could find that i thought were pretty dope.Dapps are the future of software.Open Source, democratic, and fair compensation for all users. There are more out there and many more to be created in the future.
Comment out your thoughts on this post.
You guys are awsome.
Just Letting you know.
Cool, following you. Whats your current favorite coin/token?
Hey thanks mate.