DMM also Releases New App! What is the topic of Dapps in Cryptocurrency?
DMM Blockchain Laboratory has released a new application “QUEST” that utilizes blockchain. The combination of these blockchains and cryptocurrency with apps are called “Dapps” and these kinds of apps are increasing recently. In this article, I will explain the features and mechanism of Dapps. Cryptocurrency payment type games have already appeared, and the use environment of Dapps will be further expanded in the future.
DMM releases Crypto based community app “QUEST”
DMM.com has released a community event holding service “QUEST” using cryptocurrency from the DMM blockchain laboratory, which conducts research and product development on distributed networks. This news was reported on Coin Post dated February 23, 2019.
[Reference: Coin Post, 2019.2.23, DMM is a good participant Develops “Learning Community dApps: QUEST” That Can Earn Cryptocurrency | The aim of Mr. Kasai’s dialogue ]
With QUEST, the host that is hosting an event or study session starts by sending an invitation code to guests. The guests enter the code into the app and join the room. After that, the guests post questions from the app, and if it they are approved by the host, they will receive rewards (ETH).
By using “QUEST,” the host can instantly know what the guest thinks during the event, including questions and concerns. Also for guests, there is an advantage to convert their questions into rewards. Interaction between the host and guests will increase stimulation of the whole event and create a sense of security as the guest’s questions are resolved, so there will be many benefits for both sides.
What are distributed application “Dapps”?
A generic term for apps that use cryptocurrency, such as QUEST, is called Dapps. Because Dapps uses a broad blockchain network system, it is also called “distributed application” in Japan.
Actually, cryptocurrency such as Bitcoin and Ethereum are also a type of Dapps, and it is expected that various products and services will be born from distributed applications that utilize blockchains. Here we will explain in detail the features and mechanism of Dapps.
Blockchain mounted applications
Dapps is an app with a blockchain mechanism. In the past, it was common for apps to make requests to a central server in order to reboot the system or use its features. If you tell the server that you want to use an application, the process “start the system” will be returned from the server, which is simply such a mechanism.
On the other hand, the network of Dapps is open to the world, and all functions such as system startup, implementation, and changes are freely available to users. In other words, there is no central administrator as in previous apps.
For example, Bitcoin, a typical Dapps, is not managed by a central bank as with legal currencies, but is run on monitoring systems between network participants. The transactions of the currency improves security systems by verifying the integrity between each user.
Apps vary from games to cryptocurrency
The Dapps use case is not only with Bitcoin. Various other distributed applications have been developed. In particular, many Dapps are game-based apps. The characteristic feature of the game-based Dapps is a system in which characters grown in the application are repeatedly blended and fused, bred into rare characters, and sold on the market. Because the purchase and sale of characters are conducted in cryptocurrency, there is an advantage that you can use for investment while enjoying the game.
For example, “Etheremon” and “Crypto Kitties” are famous game titles.
In addition to training games, Dapps games of various genres, such as puzzles, shooting, casinos, etc., have been born. In the future, there will be more types of games and there may be a generalization of how to combine games with investment.
Ethereum (ETH) is frequently used for payment
If you want to use Dapps games and apps, the Ethereum wallet or metamask Metamask” are recommended. Many of the Dapps often come from Ethereum’s ERC-20 standard, which increases the use of ETH for payments.
Ethereum has a system of distributed applications and anyone in the network can freely create applications (ERC-20). As a result, Dapps developers often use the Ethereum network where most apps are ERC-20 related.
Like “QUEST” developed by the DMM blockchain laboratory, it can be expected that the number and type of Dapps will increase in the future. Currently, games using cryptocurrency are mostly used, but co-participating applications between organizers and users that use the blockchain distributed network will also become mainstream.