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DApps are the part of the software that interacts with the blockchain and regulates the state of all network members. Smart contracts demonstrate the core logic of a decentralized app. The user interface of DApps is identical to any other typical website or mobile application. A decentralized application’s front end is built to represent what users will see, and its back end is built for all business logic.
The business logic of DApps is depicted by one or more smart contracts communicating with the underlying technology of blockchain.
Smart contracts are programs that are stored on a blockchain platform and run only when predefined conditions are fulfilled. Typically, they are used to implement agreements among participants, giving them immediate outcomes without any wastage of time or involvement of a middleman. Smart contracts are automated programs that continue the workflow by streamlining the next task when conditions are met.
They function by following programming statements like “if, when, then” written into a smart contract code. Once verified, a network of member computers executes the tasks.
These tasks may include transactions between parties, sending updated notifications, vehicle registration, or issuing a ticket. When the process is completed, the blockchain is updated immediately with the addition of a new block. And once it is added to the chain, no changes can be made to the transaction data, and only members who have permission to access it can see outcomes.
Layer 2 scaling techniques move transactions off-chains and bundle them into proofs that are submitted back to the main chain. Layer 2 solutions provide better speed and low cost of transactions. These optimised networks are ethereum compatible and are customizable to a great extent. Therefore, offering the necessary flexibility to operate in a niche while constantly being connected to the main ethereum network too.
There are numerous layer 2 solutions that solve the problem of scalability and high transaction cost but needs refinement and deployment. Flicker Technology is designed as a layer-2 agnostic solution to provide an agile exchange of assets across numerous layer 2 networks in a plug & play mode and switching in between on-chain off-chain storage as and when necessary.
Polygon is a Plasma-based aggregator which is a layer 2 solution for Ethereum, that provides a framework for building dapps. The Plasma framework is one of the driving developments behind blockchain technology mass adoption.
Polygon (MATIC) token is not only used for investment purpose but also \ for the security of polygon network. It's avaliable for decentralized as well as centralized trading.
Matic token has increased it's value in market after it's rebranding. It has a cover of 10 billion which is currently valued over 7 Billion. Polygon Blockchain is used in various fields such as DeFi(Decentralized Finances), DApp(Decentralized Applications) , DAO(Decentralized) , etc.
DApps backend code are smart contracts that run on a decentralized network, instead of a centralized server like most Web 2.0 applications. Smart contracts is a set of rules that govern the app logic; it is on-chain and open for all users to review. Once DApps are deployed on the Ethereum blockchain, it is immutable and controlled only by the logic of the smart contract.
