DAPP’s and their role in the healthcare industry

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What distinguishes a Dapp from a traditional app is that it is based on the decentralized network of Ethereum blockchain

Decentralised applications (DApps) are now the theme of the blockchain city and have aroused interest from developers around the world.

As blockchain technology becomes more popular, it will become the basis for the next Internet revolution. As blockchains continue to evolve at a rapid pace, it is likely that we will increasingly integrate them into our dApps. Sources: 1, 23, 25

dApp stands for Decentralized Application. It is a web application meant for sharing of information between the users. Unlike other apps, there is no central ownership or managing body.

All the users of the app maintain the app. Any new addition or change is made through mutual consent. A copy of the app gets stored in the computers of all the users. It doesn’t matter how many people are there in the network.

Bitcoin is probably the first dApp which runs on the Blockchain. It is a dApp for financial transactions. There is no central financial institution controlling the transactions. Each person adds an entry to the ledger.

Imagine dAPP’s in the healthcare industry! So much time and energy would be saved.

Understanding DAPP’s in 7 simple ways

1. Are DAPP’s only on Etherium blockchain?

2. What’s the vision for DAPP’s

3. How many DAPP’s are there?

4. How to use DAPPs?

5. Is the blockchain a decentralised app? 

6. Why are DAPP’s all the rage as 2020 ends?

7. Bitcoin or Etherium as the driving force?

Are Dapp’S The Future Of Cryptocurrency?

1. Are DAPP’s only on Etherium blockchain?

Given today’s trends and historical data, Ethereum will not become the one chain that governs the development of dApp.

Enterprise Ethereum has a developed blockchain platform and an ecosystem, but given the current state of the market and the future of blockchain technology in general, it will not become a “one chain” to dominate all dApps development, according to the Ethereum Foundation.

Ethereum integrates an intelligent contract platform that enables companies to use blockchain technologies to create numerous different digital ledgers that can be used to create additional cryptocurrencies that run on the blockchain.

2. What’s the vision for DAPP’s

The vision is that modern web applications will call on smart contracts from Ethereum when they need to perform transactions on the blockchain, as in the case of a payment system or a financial transaction. Sources: 5, 8, 10, 24

Bitcoin, the parent company of decentralised apps, will sooner or later persuade the app industry to use dApp for its business. Sources: 2

If this migration takes place, the Ethereum blockchain will be the biggest beneficiary, as NFTs continue to gain ground. If you build on the blockchain of Ethereum, you will support popular cryptocurrencies such as Bitcoin, Litecoin and DASH.

It is believed that the expansion and monopolisation of such decentralised exchanges are much healthier and safer. It’s time to take a look at dApp, as it’s a way to own some of the most valuable tokens. Sources: 3, 4, 22

3. How many DAPP’s are there?

The increasing number of applications that depend on the blockchain has certainly helped Ether (ETH) become one of the strongest cryptocurrencies by market capitalisation.

MakerDAO, a decentralised credit service that runs on Ethereum’s blockchain platform, supports a stable coin whose value is pegged to the US dollar. The Auto-chain Blockchain is connected via HTTP to provide blockchain services. Ethereum only contributes to this, but it is still a great platform for developing smart contracts and decentralized applications. Sources: 0, 7, 9, 13

BAT, Pancakeswap and Golem are three of the prominent dApps that work on Ethereum and have a large number of users, both in the US and worldwide, and in other countries. Sources: 12

There are decentralised financial dApps that use ordering strictly on the blockchain world, but there are no decentralised financial dApps that are orbited exclusively in the blockchain world.

Dapps can be built on a blockchain like Bitcoin and have their own platform, where their users can finance and control them, just like Ethereum and Bitcoin. Sources: 1, 15, 21

4. How to use DAPPs?

To understand how people interact with cryptocurrency and blockchain-based projects, it is useful to look at the people who use decentralised applications (dApps).

Many people are unaware that the Ethereum codebase is also used by companies around the world to create businesses in the blockchain network. This is no surprise, as blockchains are used for both cryptocurrencies and decentralised apps.

If a dAPP has anything to do with it, the cryptocurrency does not need to be used to run the system. Sources: 11, 18, 24, 25

5. Is the blockchain a decentralised app? 

If you are wondering how the blockchain itself can be classified as dApp, this assessment of decentralised applications offers an explanation. Sources: 1

More specifically, a DApp is a user interface that allows users to interact with smart contracts based on a decentralised peer-to-peer blockchain based on the network. What sets Dapp apart from a traditional app is that it is built on decentralised networks like Ethereum. Sources: 6, 18

Published in 2015 by Vitalik Buterin, he believes that “the open source distributed computing platform has gained enormous popularity through many decentralized projects that issue tokens on it. This has made it a tried and tested blockchain development platform and has not stopped since.

With the cryptocurrency system’s resurgence – which is slowly beginning to unfold – DeFi-Coin is helping to pave the way for blockchain-based decentralized cryptocurrency, which continues its path back to new user and application highs. As a derivative liquidity protocol based on the Ethereum blockchain, it was possible to move upwards from June 2020. Sources: 7, 19, 24

6. Why are DAPP’s all the rage as 2020 ends?

Blockchains have forever changed the face of the technology industry, and the opportunities to use decentralisation are incredible for the industry. The rise of blockchain technology has been a major factor in the cryptocurrency’s recent rise – blockchain buzz. Sources: 12, 17

Consider blockchain – based apps – applications that use blockchain technology and architecture. Decentralised applications (Dapps) are considered decentralised applications called smart contracts. Sources: 16, 23

7. Bitcoin or Etherium as the driving force?

While Bitcoin paved the way for cryptocurrencies and blockchain technology, it was Ethereum that first showed everyone the true potential of blockchain technologies. Bitcoin is akin to gold bars sitting in a vault, whilst etherium and DAPPs are creating some real-world impact as we speak. 

Ethereum raised money for the development of the platform by selling its future currency ether (Bitcoin). A public crowd sale on the Internet financed the development, with participants buying as much Ethereum as possible in the form of ether and other cryptocurrencies such as Bitcoin. 

Today, the world is poised for a DAPP revolution and is shining the light on what is possible for the future of blockchain technology, cryptocurrency and its real-world appliaction. 

DAPPS health

SUMMARY

Before we see how Blockchain can play an essential role in the healthcare industry, we must look at the problems that the healthcare industry faces. There are many issues concerning sharing of medical information, treatment of patients, and distribution of medicines which can use the blockchain technology. One of the primary reasons for the theft of data from EMR (electronic medical records) of patients is that they are all stored in a centralized location.

It makes it easy for any hacker to access the data and use it for illegal purposes. Another problem with the medical record of patients is the delay in getting the data. The patient may have undergone treatment in one facility. If another health organization wants these data, they have to wait to get it. It may take longer if these facilities are located in locations far apart.

Harikrishna Kundariya shares that “The technology is still in its nascent state. There are many difficulties in using blockchain technology in the healthcare industries. There are unclear areas concerning data privacy. There is doubt about who should get access and who shouldn’t. The cost of technology is another obstacle to using it very widely. The main problem, however, would be to convince the various parties to adopt the technology and prove that it is useful and safer than present systems.

The fact that it keeps patients’ data safe and gives them control should be enough reason to push forward this technology.” 

Call to embodiment – Script

How are the DAPPs going to be relevant in your life and for future generations. What can you see for the healthcare industry?

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Rory Callaghan
Rory Callaghan

Founder Selfcare.global

Rory is the founder of selfcare.global and author of SelfCare – Lifestyle medicine for the people. He has a background in sports science, human movement, exercise physiology, yoga, pilates and a masters degree in physiotherapy. He takes a human, nature and spiritually energetic approach to good health, wellbeing and longevity. Over time he has developed an integrated, holistic and functional tool belt that helps him consult with high performing humans and entrepreneurs. His passion is to merge ancient wisdom with the modern lifestyle. Empowering people on their own journeys, whilst co-creating thriving :blue zone” communities & longevity hot spots.

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