Did you know that the dApps market revenue is slated to reach $368.25 billion in 2027? The steady rise in dApps over the recent years can be attributed to the rapid digitalization, adoption of blockchain, and growth in dApp development services platforms. dApps reduce risks and let you transact in highly secure environments. But why are dApps getting so popular? Well, they offer highly secure transactions and reduce the risks of storage and data protection.
The rising demands for secure and fast transactions, high usage of dApps in eCommerce, transportation, gambling, and increasing online trading are further expected to fuel the demand for dApp development services platforms. This blog will discuss the various aspects of dApps and how development platforms are playing their part. So ready, let’s dive in!
What are dApps?
A dApp is a software-based application that works on the blockchain. Some applications also work on peer-to-peer networks.
No human interface is needed to operate dApps, and tokens represent the ownership in these solutions. In case of system failure, another system can carry the load for dApps, and work will not be harmed.
Some of the most popular platforms that are used by developers include:
While it is not easy to build these applications, dApp development services platforms can help you materialize them.
Benefits of dApps
There are multiple benefits of dApps, and these include:
The good thing is no user can be blocked from operating a dApp. No entity is powerful enough to control the network, deploy applications, prevent users from transactions, or read data from the blockchain. If we put it in words, you could post anything on social media, and no one could stop you from doing it.
The majority of dApps don’t require you to reveal your identity. Instead of filling through lengthy forms, all you need to have is a digital wallet and Ethereum login.
Even if some parts of network architecture go down, the dApp system will continue to work. Once the platform is live, your app will work normally and crash only if the blockchain platform crashes.
With cryptography, the data stored cannot be forged by hackers. Besides, users can access the public blockchain and verify transactions. This will make data records more reliable and make information exchange seamless.
With dApps, you will not need to integrate your apps with other platforms or stay in touch with your vendor. This will further expedite payment processing times.
Common Issues Faced in dApp Development
Yes, developers and tech enthusiasts have great regard for the underlying technology, and the ecosystem has evolved into a multi-billion-dollar market. But, it can take a lot of time to develop them.
Besides, the user interfaces are complex to code. Making them navigable and friendly can be a big task. It is often low compared to the costs charged for making them. Also, when it comes to the traditional market, dApps are just a drop in the ocean.
One such example is that of Augur. It is one of the most popular dApps in the world. But, it only attracts a meager 60 users per day. When dApps receive good user attention, these issues will continue to persist.
Role of dApp Development Platform
So, if you are wondering how dApp platforms can help you convert your dream into a reality, here is how they can help you. We will be reading about the services they provide in the next section!
dApp development platforms help you automate processes, rescue costs and even achieve seamless peer-to-peer transactions. Besides, if you ever face issues, you can seek assistance from your customer support.
These platforms manage data with transparency and follow a long list of compliance. So, you can be sure that no one will manipulate your data while you convert your dream into reality.
Achieving User Governance
dApps swear by the community-first approach, and no single person can control the platform. Developers will help you build such apps, and the platform will help you make them reach the masses.
Development platforms ensure to make these applications 10x more stable and far more secure than conventional applications. Since dApps don’t have a single point of failure it is easier to manage enterprise operations.
Potential Use Cases of dApps
With a wide range of dApps, there are umpteen use cases to these technical marvels. Developers are working day and night and coming up with new use cases to make the crypto blockchain sphere a revolution. Here are some uses cases you must know about:
Cryptocurrency investment- Cryptos have in them to solve global economic problems and decentralize finance. Applications like Chainlink are striving hard to make a link between smart contracts and real-world information.
Property registrations- dApps will be successful in removing middlemen from real-estate businesses and creating a seamless experience for users.
Gaming- These platforms are the new rage in the market. Users can earn real money and can be used free of cost for a particular duration. Splinterlands is one such game.
Collectibles- These dApps will also see a surge in the coming future. Collectible DApp like crypto kitties is popular and more blockchain companies are looking forward to creating collectibles.
The Simple Process to Create dApps
Here are the steps that will give you an idea of how to develop a dApp without diving too much into technical details.
- Understand the Problem
Before you begin developing your dApp, make sure you know the exact problems you are looking to solve. Also, take a note if you really want to remove centralization and third parties and start over with blockchain.
- Validate The Idea
The next step is to work on the idea and test its potential. Before you invest your money, consult an expert and then make a final decision. This will help you analyze and eliminate loopholes and address them before the market launch.
- Pick a Blockchain
Now, that you have tested out the potential you need to finalize the blockchain you will be building your application on. For this, you will need to make a list of requirements and then find a blockchain that best meets your demands. The most commonly used ones include Ethereum and the Binance Smart Chain.
- Get, Set, and Launch
Now, you are ready to launch your dApp once you have tested it. But, we suggest getting it audited by an expert or consultant. Once your app is on the production server, it is not possible to make changes. So, take your time and address these issues with utmost patience.
Must-Have Features for All dApp Development Platforms
Here is a list of services that you need to look for when focusing on the dApp development platform:
If you are full of ideas but are unsure how they will materialize, you can always pass it by a team of experts and decide the feasibility. From getting the technical components right to identifying stakeholders and even selecting the right blockchain platform, MVP consulting will solve all your doubts and much more!
Designing User Interface
The next service these platforms offer is designing impressive interfaces. Again, you get access to the best prototypes and can choose from design possibilities right from ideation.
Development of Decentralized Exchanges
If you want a tailor-made, comprehensive, and scalable exchange platform, dApp development platforms will help you make one. Besides, they will also help you integrate payment gateways and connect with other exchanges via APIs and shared order books.
dApps can also be used as microservices and then be externalized with the help of APIs. This will help you focus solely on a single business service and offer cloud storage for it.
An important part of developing dApps is deploying smart contracts on multiple blockchain platforms. A development platform will help you develop them and even choose the right platform for your needs.
If you wish to move your existing application to a different platform, the process is expedited by a dApp development platform. Usually, these platforms have experts who will help you make the process seamless.
Upgradation is super important for all apps. These platforms help you maintain, migrate, and upgrade your application as per the changing business demands. Whether deploying smart contracts or taking care of the end-to-end migration and up-gradation process, dApp development services platforms do it all!
Things to Consider Before Finalizing a dApp Development Services Platform
You will need to consider a few things before singling out a dApp development services platform.
Getting the technicals right is imperative when designing a dApp. So, make sure you look at the projects the team has done before getting an idea of the work they do.
Also, ask them to show a demo to know their work style better. Finally, you will need help to refine your offerings, set up communities, and address issues from time to time. Thus, a platform with a team of experts should be your first choice.
Ask yourself these questions:
- Does the platform develop customized products?
- Is there a damage control plan in place for mid-project blunders?
- Does the platform follow a flexible yet coherent roadmap?
If the answer is yes, then you must go ahead!
Yes, there is much to be done after the product launch. However, you might not have that much time to keep up with product-related issues. So, choose a company that offers superlative customer support and helps you derive meaningful outcomes and high ROIs.
What Factors Affect The Cost of dApp Development?
Now that you have developed an understanding of decentralized applications, the next question that will come to your mind is, “How much will it cost me?”. If you want a range, we would say it can be anywhere between $40-100k. But, multiple factors impact the cost of dApps. These include:
dApp development costs will be impacted by your choice of industry. The demands and sophistication for each industry are different. While some need strict compliance, others might need multiple user-functionality in real-time.
For example, in the insurance sector, insurers, brokers, and customers will need to use the application simultaneously.
The technology stack on which the dApp will be built on the blockchain platform you use matters the most. Also, will you need a custom API or plan to use a pre-built one? You will need extensive answers to these questions and then define your project complexity.
For example, a payment application is a low complexity dApp. However, making a casino platform from scratch is highly complex dApp and would be much more expensive.
There are two ways you can build dApps. Either use your own blockchain or use another like Ethereum to kickstart your project. Basically, there are three kinds, and each will have separate costs.
Type 1: Having own blockchain
Type 2: Works on Type 1 blockchain
Type 3: Functions on a Type 2 protocol
You can consider type 1 to be macOS. Whereas Type 2 can be Keynote which functions with macOS. At the same time, Type 3 is a template that you can choose to integrate on Keynote.
Now, the choice of developers can make or break your dApp. Your team size, location, qualifications, wages, HR-related costs, and insurance should be considered before you fix a development budget.
Besides, it is not easy to hire blockchain experts. So, weigh all the ideas and then decide if you need to do it in-house or outsource it.
How Can dApp Development Challenges Be Handled?
Similar to other applications, dApps too have limitations of their own. But, dApp development platforms from Prolitus can handle them with ease:
Some applications claim to offer multiple benefits but don’t do justice to user demands. They are often difficult to navigate, leading to issues with customers. However, modern dApp development platforms are working on these issues to make the user interface friendly and boost the adoption of dApps.
Since it is not easy to modify the data published on a blockchain, maintaining dApps becomes an issue for some enterprises. In addition, once the application is deployed, developers might find it difficult to make updates if there are security risks or bugs in the older versions. Luckily, dApp development platforms have a team of experienced developers who handle these issues in the best possible manner.
Delays in Network
Blockchain networks can become overloaded. As a result, too many computational resources are being used by a single dApp. This further leads to delayed payment processing. But, with dApp development solutions you can manage these issues as a team of experts is there to guide you at every step.
dApp Development Platforms Developers Are Betting High Stakes On
If dApp development is something that fascinates you, you surely need to check out the platforms that developers are swearing by.
Multichain and Ethereum Native, SKALE is the only network that can run infinite high-power decentralized blockchains native to Ethereum.
What started out as an Ethereum token is now a full-fledged framework for building dApps and Ethereum compatible blockchains. In addition, it is a Layer-2 solution that has helped Ethereum improve its functionality.
Looking for solutions that use low gas, faster transactions, and top-notch security, ZKSync is your best bet. You can easily withdraw assets, and for the same reason, Argent has chosen it for its wallet.
Arbitrum lets Ethereum participants settle transactions away from the Ethereum mainnet. The good thing is that it is compatible with applications like Aave, Curve, and MetaMask.
While dApps have their fair share of trouble, they have immense scope in the future. Decentralization is on an all-time high but is yet to reach its peak potential. As a result, the coming decade will see dApps playing an active role in day-to-day life and taking transactions, automation, and cost savings to a whole new paradigm.
Names like Hardat, Brownie, Embark, and OpenZeppelin Network will reinvent the wheel and change the paradigm of DeFi development. With robust contract functionalities and dApp development frameworks, faster application building will be the new norm.
Searching for a cutting-edge platform that can help you build dApps, create market value, expedite data migration, and make a solid brand reputation in the market? Prolitus is your best bet! The platform will help you build a solution that solves real business problems while making it very simple to use.
Building a dApp can open up multiple avenues for building a solid brand reputation and monetization. But, not everyone will have the right team to convert their dream into a reality. So, join hands with us and let us take care of your dApp while you deal with core business issues and make your enterprise a superpower!