Hi, team. Another question. What is the concept of Dabbs? What potential does it have? Can it replace or supplement existing business models?
The concept of decentralised apps (Dapps) is simple, they have to fulfil these 4 conditions:
1) Be Open Source & Autonomous Managed: It should have its code base open to scrutiny and have any changes decided by the majority of its users.
2) Stores Its Data Via The Blockchain: All records and data of the app are to be stored on a decentralised blockchain network to avoid consolidation at any one source.
30 Provide Incentives: Issuing cryptocurrencies (a store of value) or cryptographic tokens to validators of the blockchain.
4)Cryptographic Tokens Generated via A Protocol: Also known as an algorithm to show a proof of value.
Due to these 4 conditions and its automatic smart contracts execution capability (performing credible transactions without third parties), Dapps have the potential to replace many business models that currently operates under a centralised leadership in Dapps, not even the developers can hold a single central influence over the platform or its users.