“Blockchain is the tech. Bitcoin is merely the first mainstream manifestation of its potential.” -Marc Kenigsberg, the founder of BitcoinChaser.com
As we continue our focus on DeFi and cryptocurrency, it’s time we spent a little more time diving into the different dAPPs and cold wallets that are out there. Going over the different platforms and currencies, it’s appropriate that we also introduce you to the different ways these dAPPs are taking form, as well as the different cold wallets that are best for the security of your currencies. These are tools that are becoming more readily accessible and needed as the market moves forward.
A dAPP is simply just a Decentralized App. It’s just like any other app, except it’s run on a peer-to-peer network, usually on a blockchain. To be considered a dAPP, they also must be open sourced, have a crypto token for security and reliability, as well as public ledgers for the transparency and security of the network. These dAPPs take on really any form of all the apps we have now: there are games, countless DEXs (decentralized exchanges), smart contract dapps, lending and payment apps, NFTs (Non-Fungible Tokens), and even self help/ habit forming apps; the list goes on an on as far as your app store. Moving into a decentralized marketplace, dAPPs are continuously popping up and evolving to fill a need or to make things easier, faster, more secure and more reliable and available to everybody. There is tons to talk about in this regard.
With the rise of all of these different tokens and assets, as well as applications for them, there will also be a need for secure and safe storage of the ones you don’t want on your trading platforms or in an online wallet. This is the most secure and sure way to keep your crypto safe, and in your hands- literally. Cold wallet storage is just taking your assets offline to store them. The better cold wallet storages are found to be in the forms of a ledger or a secure flash drive or just a data storage device separate from the web and your computer. When it comes to cold storage, there are tons of options and we will elaborate on them amongst other types of wallets. Cold storage keeps your money completely yours, and you can even put your assets in a safe with these storage methods. Cold wallets are a great investment for the safety of your other investments, especially during a time where bugs in systems are being sought and found.
Stay tuned for an elaboration on dAPPs and cold wallets! Lots to talk about and learn, and a great deal of use cases in this rising marketspace. We appreciate the read, send us your feedback and any comments, suggestions or questions!
