rewrite this title Still confused by dApps? Let’s fix that

You seemed to like the Crypto 101 series we did last week, so we’re back with another quick edition like that today 🥳

(Btw, if you’re new here, we’ve already covered different types of trading, CEXs vs. DEXs, hot vs. cold wallets, and how to notice a coin’s red flags. You can still catch up if you missed them.)

One thing we didn’t talk about, though – and some of you asked for – is dApps.

So, let’s do it right now 👇

First off, what are dApps?

dApps, or decentralized applications if we’re talkin’ full government names, are apps that run on a blockchain.

With regular apps, a single company owns the servers, the code, and your data. They can change the rules or shut it down anytime. Instagram, Spotify, Netflix – all work this way.

In dApps, on the other hand, the rules live in smart contracts – bits of code stored on the blockchain.

They run automatically when certain conditions are met, and they’re kept online by thousands of independent computers (nodes) instead of a single company.

There’s no Mark Zuckerberg controlling the whole thing. You connect with a crypto wallet like Zengo, and you keep control of your assets and data.

And… what can you do with them?

Anything you can do with a regular app + a lot more that only works in crypto:

Trading (like dYdX);

Borrowing/lending (like Aave);

Gaming (like Axie Infinity);

NFTs (like OpenSea);

Social (like Farcaster);

Etc, etc, etc.

Basically, if there’s a Web2 version of something, someone’s probably building a decentralized Web3 version of it.

And that’s important because it’s where crypto actually does stuff – you can use tools, swap tokens, earn yield, collect NFTs, and join communities.

But before you get too hyped, let’s be honest – dApps obviously aren’t perfect:

👉 A lot of them still feel like using early internet – clunky interfaces and confusing terms, which makes them not so beginner-friendly;

👉 You also have to deal with blockchain quirks like gas fees and waiting for transactions to confirm;

👉 Since everything’s decentralized, there’s no customer support to rant to if you mess something up;

👉 Some slow down badly when too many people use them at once;

👉 Smart contract bugs can let hackers drain funds – and there’s no undo button;

👉 Fake or scam dApps can trick you into connecting your wallet and steal your assets;

👉 Oh, and let’s not forget the fact that the legal rules are still unclear: no central authority also means regulators aren’t sure what to do with them, and that uncertainty could become a problem down the line.

Still, if you can get past the bumps, dApps are where crypto starts to feel real.

Just go in with curiosity, caution, and maybe triple-check the URL before you click connect.

Now you’re in the know. But think about your friends – they probably have no idea. I wonder who could fix that… 😃🫵

Spread the word and be the hero you know you are!