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09/26/2021

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Cardano To Create “Dapp” Store To Help Users Navigate DeFi

The store would allow for user reviews, upvoting and a certification program for quality assurance.

Cardano To Create “Dapp” Store To Help Users Navigate DeFi


The store would allow for user reviews, upvoting and a certification program for quality assurance.

One of the companies behind the development of Cardano, IOHK, is planning to launch a new storefront for smart contracts, also called decentralized applications or "dapps," that will give users an easy way to see the different applications available on the blockchain. 

The dapp store will be called the Plutus dAppStore and anyone will be able to upload their dapp to the store if they wish. One of the largest issues with decentralized applications today is the people's ability to find them and determine their quality.

Currently, there are no such systems on other blockchains and the only way to find a dapp is by word-of-mouth and research.

On top of that, the only way to determine the safety and quality of a dapp is also by word-of-mouth or by having enough technical understanding to make a sound decision. 

With the number of fake applications and scams, the decentralized financial ecosystem is not easily navigable. 

The announcement from IOHK says that the Plutus dAppStore addresses to two key barriers to entry:

  • There currently is no formal discovery process for a DApp. Almost all discovery happens through organic or word-of-mouth means, or through social media marketing
  • For end users, there is no consolidated view of all DApps available in a given ecosystem

IOHK also plans to create a certification program for dapps on the network so that users can have some level of quality assurance. Certification would likely be automated and be given to projects that have been audited a certain number of times. This way, IOHK is not subjectively choosing which projects are given certification.

It's important to note that dapps do not have to be listed in the store and IOHK cannot control what smart contracts are deployed on Cardano. 

In addition to the certification program, IOHK plans to have user review systems, upvoting and the ability for users to write feedback. This would allow for an eBay-like environment where the quality of a dapp can be determined by how many users it has and how it is reviewed by the community. 


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ORIGINAL SOURCE

https://www.thestreet.com/crypto/defi/ca...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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