How to Create a Web3.0 Decentralized App? Complete Guide for Business Owners
Table of content
- How to Create a Web3.0 Decentralized App? Complete Guide for Business Owners
- Definition of a dApp
- The Role Of dApps In Web 3.0
- Pros and Cons of dApp Development
- Must-Have Features of dApps
- 5 Steps of Developing a dApp
- How Much Does it Cost to Develop a dApp?
- How Can Interexy Help?
- Final Thoughts
According to Vantage Market Research, the Global Web 3.0 Blockchain Market Revenue is suggested to reach $23.3 billion, growing with a GAGR of 41.6% during the forecast period of 2022-2028. The market growth is driven by increased adoption of cryptocurrencies, benefits like improved privacy & secure network, as well as opportunities these apps provide for the future.
We curated this article to help you explore Web3 dApp development with features, process, and cost while also showing why and how these apps can benefit modern businesses. Knowing the process and some tips can help you understand why building a decentralized app is a worthy idea in 2022.
Definition of a dApp
Before diving into the explanation of dApps, it is vital to first explore what Web3 is. The term Web3, sometimes written as web 3.0, came in 2014 by computer scientist and co-creator of Etherium Gavin Wood in a post on his blog. The whole idea of Web3 is to give the community the ownership and decision-making process.
Also explore Web3 definition, evolution and its uses in 2022.
A decentralized application, dApp for short, is like any app that you can find on your phone or laptop but contains additional features of employing blockchain technology to increase the safety of user data. Just like cryptocurrency represents decentralized money, dApps represent decentralized apps.
The blockchain ledger in dApps stores copies of its expanding stack of information on a large number of participating computers, which are called “nodes,” all at once. And the key thing here is that these computers are owned by users, not by the developers of the dapp.
Dapps are also varied, meaning they can be developed for social networks, games, entertainment, productivity tools, and many more. Most of these apps are specially developed to help users get easy access to decentralized financial services or DeFi.
The Role Of dApps In Web 3.0
The role of dApps in the Web3 landscape also focuses on the use cases of dApps. Explore the following key applications of dApps in different sectors below:
- Social Media Applications
The first use of dApps in web3 dApps is social media apps. Most popular social media platforms, including Instagram and Facebook, are known as integral highlights in the life of modern people today. However, it is worth noting that social media apps have a huge control and store lots of personal user data. Therefore, the need for more secure data storage in social media platforms is an obvious necessity.
- Cloud Storage
dApps in the web 3.0 landscape also become evident in cloud storage. Today’s most well-known data storage servers, including AWS, are completely centralized in nature. Thereby, there is a high chance that the data stored in these servers can be modified or distributed to third parties without user permission or control. That is why decentralized solutions designed for data storage would help users feel safe and avoid storing their sensitive information on a centralized server.
While it isn’t obvious, one of the most interesting uses of Web3 dApps is browsers. Conventional browsers like Google and Firefox are centralized in nature. To be more specific, the centralized nature means that the browsers are allowed to store personal user data such as location, social media information, some passwords, and other details that can compromise the user in case of poor security.
- Streaming Applications
As we mentioned, dApps are also designed for entertainment which has also become one of the significant highlights in the web3 landscape. Popular streaming apps like Netflix, YouTube, Amazon Prime Video, and Spotify are also centralized. Just like with other dApps uses, centralized platforms can also impose censorship on user information while also exposing users to target advertising campaigns.
That is why building a dApp in the field of music and video streaming applications has been shown to bring plausible improvements, allowing content creators to get reasonable value for their efforts while also resolving copyright problems.
- Messaging Applications
Finally, the most vital use case of dApps is messaging apps. Most modern users want to have private, decentralized messaging. That is because secure and private messaging has become one of the prominent needs in the web3 landscape that help avoid privacy violations, data hacks, and cyber attacks.
Pros and Cons of dApp Development
There is a vast range of pros and cons of decentralized applications that you can explore below:
Security is currently the biggest pros of dApps since they don’t depend on a centralized server for authentication; therefore, they possess higher security than traditional applications. This helps you attract more users and lessens the risk of a successful hacker attack that can ruin the business.
Creating dApps does not require a server as the Web3 app is hosted on servers all across the decentralized web. Therefore, you can save a lot of money since you won’t have to rent server space or maintain a data center. In addition, the transaction speed in dApps is higher, meaning you get at-scale apps with built-in failover without extra work.
If the decentralized web is able to fulfill its promise, dApps can eliminate downtime. Since dApps don’t connect to a single, centralized server, businesses can guarantee absolutely minimal interruptions to services. Therefore, they won’t need to worry about applications going down. Ever.
Never Lose Data
Since the dApp is hosted across an entire decentralized network, there is no risk of losing data. Even if one node on the blockchain ledger goes down, there are more that are with your dApp data in sync, meaning you won’t miss a beat.
Steep Learning Curve
dApps and blockchain run on top of a very complex networking environment. Even though these apps share some similarities with traditional ones, the development of dApps will require unique skills and a new way of thinking from your developers, operations, and administrators.
Higher Security Needed
As we mentioned, decentralized networks both possess and require an absolutely new level of security. That is because the app is dealing with a global network, meaning your application must be resistant to a vast range of attacks. Therefore, you will need a highly experienced team that can be able to use the latest complex technologies to guarantee protection.
Lesser User Experience
dApps are new apps for most users. Even though people are looking for higher security, these apps need time to deliver the best user experience. For instance, the login process is completely different from traditional apps. In contrast to inputting traditional username/password authentication, users will need to work with public/private key authentication methods.
Since dApps are still in their development stages, they might be slower than traditional ones. However, this will improve in upcoming months and years, when more and more businesses will develop dApps.
Must-Have Features of dApps
User registration in dApps always starts by connecting a crypto wallet, meaning it is an essential part of any app working on a blockchain. Therefore, your users will need a wallet to get bonuses and awards in the form of cryptocurrencies, digital money, or non-fungible tokens (NFTs).
It is worth noting that any dApps has its own unique token that users need to access different software options. This token fuels transactions that occur in the app’s background, meaning it is essential.
Like any other application, dApp should also perform a specific action and solve a specific problem. However, dApps differ from traditional ones because decentralized apps require transactions to work.
5 Steps of Developing a dApp
Step 1: Write a Smart Contract
A smart contract is a set of rules and agreements based on which the app works. And it is also a place you’d put the decentralized logic of your dApp. The smart contract answers the questions like:
- What do you want the dApp to perform automatically?
- What actions happen if rules are met?
- What actions do you want the dApp to perform relying on the chain consensus?
Step 2: Develop Front Ends
Your development team won’t be able to build a decentralized app without developing “normal” user-facing mobile and web applications. Therefore, even though user actions trigger some smart contract functions on a blockchain ledger instead of connecting with a central server, this should have a minimal impact on the UI.
So if you want to provide a great user experience, it is best to start with a prototype:
- low-fidelity UI
- high-fidelity UI
- user testing
- reinforce the UI/UX based on the feedback
Step 3: Develop Centralized Back End
If you develop Ethereum dApps that need massive data storage, or you are going to plan on running reports or envision any other functionality that is out of the concept, your app will require a web solution located on a private server.
Therefore, an admin portal will connect to written smart contracts and front-end apps for users to offer extra features to you as an app owner to manage the app and users.
Step 4: Test Rigorously
Like with any other app development, testing is an essential part of the process. It is recommended to use the Agile methodology to boost the development process and make testing possible as soon as you can. Every new feature and new part of the product should be tested by your QA team. While testing front-end apps is a standardized procedure, smart contract testing is unique and requires a testnet to verify its functionality.
Step 5: Deploy and Maintain
The final step of the dApp development is to deploy your dApp. This means uploading mobile applications to the App Store and Google Play, switching your backend part to a live production environment, and adding a smart contract to the blockchain.
How Much Does it Cost to Develop a dApp?
The cost of dApp development varies from company to company while also depending on complexity, timelines, goals, and other factors. Let’s take a prototype of a decentralized application. The cost of it may vary between $60,000 and $80,000, depending on its feature set. We recommend you check blockchain development services to explore more about dApp development in the Web3 landscape.
How Can Interexy Help?
Interexy is one of the most trusted blockchain development & consulting agencies having in-depth expertise in smart contracts, dApps, and Web3 space in general. As pioneers in that field, we’ve already developed many projects running on blockchain for various industries, like Healthcare and Gaming.
We’ve also been a development partner for Lil Durk NFT drop and now work with Sandbox for all NFT launches. While NFT is one of our core focuses, our development team comprises professionals from different industries with outstanding knowledge, unique mindset, and skill sets to build stable, efficient, and secure dApps.
For example, we are working on Metamine, which is going to become a Metaverse digital asset storage. The idea of the app is to allow users to buy an item (clothes, jewelry, car, house, and so on) in real life and get its digital copy in the app. This also will allow users to dress up their avatars in Metaverse just like they look in real life while also giving their avatars any item they have bought them psychically.
While dApps seem like some gimmick of the present, they are going to change the future and give users more opportunities in Web3. Given their presence, they have already brought many changes to the present world and even allowed DAOs to enter the place. If you have an idea and want to explore the details of the process, let’s have a free consultation with our experts to get your answers.