#DeFiGetsGraded Meaning of the word Binance today (Dapp)
The word DApp in crypto is an abbreviation for Decentralized Application, which is a "decentralized application". It is a program that operates on a blockchain network instead of central servers. DApps rely on Smart Contracts to perform tasks automatically and transparently, making them resistant to censorship and manipulation. DApps can be trading platforms, blockchain games, lending protocols, or NFT markets.
This type of application is often open-source, and its data is stored on the blockchain, ensuring transparency and security. Interacting with DApps is done through cryptocurrency wallets like MetaMask or Binance Wallet, which grant the user permissions to interact with them. However, DApps can pose a risk if they are unreliable, as consenting to permissions might give control over digital assets. Therefore, it is always advised to verify the credibility of the DApp before use.