Bitcoin based its foundation on its cryptographically secure ledger, unique assets model, and P2P technology. It led to a new architectural era that helped in building massively scalable and profitable applications, a new type of software referred to as decentralized applications (Dapps). Now let's go through the three types of applications and their differences. Most of the applications that we use are based on a centralized or client-server model. A few discs are distributed, but now more and more are becoming decentralized.
The following diagram demonstrates the differences between these three types of software:
Let's now look into the following different types of applications mentioned in the preceding diagram:
- Centralized systems: Centralized software or systems are extensive. These are single instance systems...