Decentralized applications
All ideas mentioned earlier come under the larger umbrella of decentralized applications. All DAOs, DACs, and DOs are basically decentralized applications that run on top of a blockchain in a peer-to-peer network. This is the latest advancement in technology with regard to decentralization. Decentralized applications or DAPPs are software programs that can run on their own blockchain, use another already existing established blockchain, or use only protocols of an existing blockchain solution. These are called Type I, Type II, and Type III DAPPs.
Requirements of a decentralized application
In order for an application to be considered a decentralized application, it must meet the following criteria. This definition was ...
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