Many of us are familiar with the term “DApp,” which stands for “decentralized application.”
Foundationally, a DApp is an application that runs using blockchain technology on a decentralized network of computers instead of on a central database.
Transactions via a DApp require the consensus of all users on the blockchain. For example, a financial transfer transacted via any DApp cannot be completed unless validated by all computers in the network, sometimes referred to in the blockchain environment as nodes. The funds will not be released and transferred until each node in the decentralized database has agreed upon the validity of the transaction.