The new generation of the internet is just around the corner. Web3 also known as Web 3.0 is the latest iteration of the internet which leaps far from its predecessor. Its main feature is decentralization and permissionless transactions which are incorporated in blockchain technologies and token-based economics. We discussed how Web3 is set to grow along with no-code in our article, No-Code as Tool in Web3.
One of the key elements in Web3 is decentralized apps or DApps. They are a type of open source software application that runs on a peer-to-peer (P2P) blockchain network unlike in our regular apps that run from a single computer. This means that the app is not controlled by a single authority and when a developer has released a dApp's codebase, others can build on top of it. DApps are visibly similar to the regular apps we use on our mobile phones and desktops today which can be social media, gaming, and so on.
No-code development is a growing movement that lets anyone create apps even without extensive knowledge. Through visual programming, anyone can build an app or website faster than regular coding. We can see that this widens the possibilities of a more collaborative Web3.
As no-code development grows and becomes more relevant in Web3, what will be its role in dapps creation and what future is DApp looking at.
DApps are various applications that are powered by a core blockchain. According to the 2014 report, “The General Theory of Decentralized Applications, Dapps”, software can be considered a dApp if :
DApps are similar to conventional apps that use the same front-end code to render a web page. However, DApp’s back-end code runs on a decentralized P2P network. A DApp is supported by a smart contract that is stored on a blockchain. A smart contract enforces the rules defined in the code and mediates activity within the DApp. Building a DApp on a smart contract system usually requires a combination of smart contracts and using third-party systems for the front-end. This is why decentralized financing or DeFi is also on the rise since blockchain security has proved to work.
DApps just need a single node in the network to work although it will have reduced capabilities. However, a decentralized network means a lot of nodes and ahacker would not likely be able to attack enough network of nodes to take down a dApp.
Because blockchain consensus algorithms that ensure data stored in the blockchain is resistant to change keep the app secure.
The Ethereum blockchain is flexible enough to enable the quick development of DApps for different industries.
Unlike in Web2.0 where a company gets details about you and start selling you things based on your data, DApp users do not need to submit their personal information to get access on a DApp function.
Creating apps even in Web 2.0 is already time-consuming, especially when done in regular code. Web3 activities such as building DApps and writing smart contracts require extensive knowledge in coding. No-code development allows more people to create by visual programming and platforms that come with features and components. No-code lets people convert their ideas easily, implement changes faster and launch quicker than the competition.
A great idea for a DApp can mean good profits for you. Now that you have built one, how can you monetize it and earn from it?
Crowdsale funding is one of the most popular DApp business model and back it with a token to go the bootstrap way. However, launching tokens requires you to reconsider some potential setbacks :
Just like banks or apps, you can charge a transaction fee every time your app is used. When a customer uses your app, you can charge X% of the amount as the transaction fee. Or you can also charge someone who will be receiving the service on the other line. Just dont overcharge since people can copy your smart contracts and release a version for lower rates.
Similar to the freemium business model in mobile app monetization, the premium business model lets you offer basic services through your dApp for free. However, certain functions and more advanced requests will require a premium fee.
Create collectibles or digital products to sell to your users. This is a great way to keep your users invested in your offerings and add a revenue stream. Not only do these digital products help you earn money, but they also give you a great recall value among your users.
No-code empowers anyone to create their own website, app, and software faster and easier. The development and growth of no-code DApp platforms can mean more people has access to the new generation of the internet. Web3 is still at its infancy and people are still skeptical about how will it be useful in the future provided that all data is open-sourced. However, this is the future already and eventually, it will develop to be a version where it can go mainstream. This is the best time to have an idea for no-code DApp and be ready when the market needs it.
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