Every person on the internet today does not have the primary control of the data they share on certain websites. Now Ethereum stands out, as it tries to employ the blockchain to correct what the designers on the internet. The best way to describe it will be a “decentralized AppStore” where anyone can publish the apps.
The ethereum promoters can be excited that the new technology is out; the ethereum white paper splits the “dApp” capabilities into three categories. It includes apps that manage money, apps where the money is involved, but it isn’t the primary objective, and apps in the “other” category, it also involved. Still, it is not limited to voting and decentralized governance systems. Generally, there are three types of applications on top of Ethereum.
The first category is financial applications; it provides users with more powerful ways to manage and go into contracts with their money. It uses the network’s distributed network nodes as a way of spreading the data.
The second type of application combines the money, but it has a heavy non-monetary side with material from outside of the blockchain. For instance, a crop insurance app is primarily dependent on an outside on-going weather feed.
There is some skepticism among some developers about a decentralized way to gain information outside the blockchain. To execute the smart contracts, they are relying on that up-to-date outside data.
Skepticisms in some developers about a decentralized way increases. To perform the smart contracts, they are now relying on what was up-to-date outside data.