The growing interest in Ethereum, which is revolutionizing the way we think of applications.

Dapp is just like any other software application you use. It could be a website or an app on your phone. What makes a Dapp different than a traditional app is that it's built on a decentralized network, like Ethereum.

When you're creating your own Ethereum smart contracts, you're actually writing a piece of the backend code for your Dapp. And while your Dapp will have a user interface like a traditional app, either all or part of the backend is built on top of Ethereum.

Web 3.0 is a lot of things, but at its core is a technology based on decentralization. By decentralizing information and services, large corporations and governments won't be able to control users of the Internet through monopolistic, authoritarian tactics.

Ethereum Dapps, with their ability to decentralize information and services, gives Web 3.0 a platform to deliver a completely free (as in freedom) and accessible Internet for everyone. No longer will there be a central point of control because there won't be middle men to facilitate the flow of information and services.

Features

• 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.