3 Dapps You HAVE to See


Hello world, it’s Siraj! Let’s go through 3 Dapps you have to see. The first example is an Israeli startup called La’Zooz. La’Zooz is a decentralized version of Uber. Uber is a centralized ride sharing app, which means all data, requests, and decisions go through a central server owned by Uber. Uber decides how much riders get paid and can see where you’re going whenever they want to La’Zooz is decentralized because it’s owned by the community instead of a few people who own a giant server. The app uses its own internal currency called Zooz tokens. These tokens are cryptocurrency like Bitcoin, except there are no miners that maintaining the network with computing power. So no proof of work algorithm, instead, the miners are drivers who maintain the network with the amount of miles they’ve driven. They get rewarded with Zooz tokens based on how much they drive. It’s an algorithm called proof of movement. Riders pay the drivers with these same tokens for rides. So how does everyone get tokens? Well Zooz has something called a crowdsale. A crowdsale in a dapp is kind of like an IPO on day one. The creators of the dapp decide how many tokens they want to create, and then sell them at some initially decided price. These tokens act as both currency in the app as well as equity. Since you are an early adopter, you should be rewarded for being one of the first to use the dapp. The more valuable the dapp becomes, the more valuable the tokens become. So you can trade the tokens for fiat currency to spend on other things if you’d like. Since the app is peer to peer that means data moves from phone to phone with no server intermediary. And the app is open source so if you wanna develop for it or setup a team of developers to contribute , you can do that. You can post a proposal For how much you’d like to get paid as well. Same for designers or marketers. The community decides on fund allocation. There are different ways to reach consensus and these are being experimented on with currently. but overall its a more democratic system where the people who use the app get to participate in how the app itself is run. The founders created a legal corporation and the by-laws require that they obey the will of the community vote. So looks like they’re already off to a good start. The second example is called OpenBazaar. OpenBazaar is a decentralized Ebay. Ebay decides what you can and cannot sell, takes a hefty cut of all transactions, and you have be in a country that allows Ebay to use Ebay. OpenBazaar is a platform that lets buyers and sellers connect directly to sell their good without involving a third party to host the data and charge a transaction fee. The creators really wanted to build on the idea of a truly free trade platform. I mean there never really has been anything like the bazaars of the past on the internet Bazaars were peer to peer marketplaces where buyers and sellers could interact directly w/ one another without any middleman in between able to observe the transaction. OpenBazaar doesn’t have its own token. but it does use Bitcoin for payments. They’ve got some amazing dope algorithms to solve some interesting problems. For example, when it comes to the issue of identity, they use an algorithm called proof of burn. to ensure that a seller can’t create a million stores to avoid bad reputation. Proof of burn means everytime a user opens a store, they have to send some bitcoins to disappear or burn. So its really expensive to make multiple stores. The app is also open source, so anyone can contribute but if they want to get a team of people to continually maintain the app with quality, unlike a lot of other open source projects, they should issue an internal token eventually for incentivazation. Third third example is Synereo. Synereo is a decentralized social network. This has been tried a few times before and failed. I’m looking at you Diaspora. It always fails because the tech was never there and its been a security nightmare to keep user data secure. But i think synereo has a good shot at making a valuable social network. It uses it’s own currency called the amp. In traditional social networks like FB and Twiitter, the middleman gets all the money from advertisers. But since theres no middleman since the app is p2p. If someone wants to pay for your data or attention, they’ll pay you directly with Amps All users get a reputation score based on how many people like the content they post. The higher the rep the more valuable your content is. Since the network is p2p no one can shut it down like the Chinese gov did to FB. And you own your data. No one at FB can peer into your private messages w/ friends since your data is stored locally instead of on a server. Those are the few i could find that I thought were pretty cool Dapps are the future of software. Open source, democratic, and fair compensation for all users. There are more out there and many many more to be created in the future. Check out the links in the description below for more info, and please subscribe for more technology videos! Thanks for watching!

37 thoughts on “3 Dapps You HAVE to See”

  1. All very interesting apps for sure. I think Open Bazaar will be biggest impact but the other apps have pretty good potential as well.

  2. Sirajology: I love your videos, thank you for responding to nearly every comment. I feel like I'm writing to some kind of Hollywood star. 🙂
    Proof of Movement sounds like it might be a nice idea, but it seems like a house built out of straw if someone fakes their GPS coordinates. I'm not sure if there's a way around that. Maybe some complex mesh network thing that sees other people around you from broadcast packets to verify you're not just faking being somewhere you're not? Then if several nodes say "No they were never there?" then your token becomes invalidated. (This could be subject to large groups "ganging up against you", but technically the same thing could happen on any cryptocurrency if a majority of the network modifies their software.)

    I guess technically even Uber would have the same "GPS faking" problem from drivers, but Uber has some weapons to fend this off: Kicking you off their system which could hurt your chance for future income, Legal threads from Uber for going against their terms of service (ultimately using the coercion of the government), and Chargebacks from credit card companies (basically just another angle of legal threats from the CC company).

  3. Hello, I am wondering now, what could be a good business model working with Dapps, I mean you could be a middle man in the contract, but the users are avoiding that in a decentralized model. So how are developers getting a reward for the efforts. ?

  4. Wait, isn't a blockchain to big to be downloaded in a phone? I mean I installed Mist in my pc and I have been donwloading blocks for 3 days!

  5. hi siraj…just got a thought for building a dapp between buyer and seller on blockchain so ,right now have no info about how to develop it….will you please guide me

  6. The question is: Is the technology understandable by everyone? I mean I don't see my parents using D-apps they will find it way to complicated with all the tokens. People look for simplicity not complexity. I would love D-apps but I don't think our world is ready for it. Not every one is educated. What do you think Siraj?

  7. hi! what's the main reason you've decided to focus on deep learning istead of the blockchain related things?

  8. What happens if a nation state builds a firewall/"something" that prevents computers/phones/devices in it's territory from accessing these global networks/blockchains addresses? If China can block Facebook, could they block access to decentralized global blockchain networks (like etherium)? Or would that network be contained in China and operate as peer to peer but not connect to the outside? Would this be horrible for all crypto if we couldn't access them/China either? Just trying to get the architecture. Pretty new to this. Great vids!

  9. the tech is great, but think of the cons, like criminals using the tech to commit crimes and since there is no central server or a middleman, who is going to take responsibility ?

  10. How to come up with a killer dap:

    Step 1) Put the word 'decentralized' before a service that already exists

    End

    P.S; Great videos btw Siraj, I've watched like 20 in a row ;D

  11. Thanks again for all the superb videos, Siraj. When are going to release your own Coin, seems to be the natural question? Which raises the question about exchangeability of coins, a la TenX. Doesn't that require an arbitrator, or arbitration valuation etc etc, third party? Head hurting now 😉

  12. checkout flo.cash floblockchain has a meta-data field in transaction that can be used to build apps over floblockchain. Things which work on proof of existence like a notary can be easily built over it floblockchain. It has a decentralised streaming service built over it alexandria.io

  13. Вклад очевидно делать надо и скорее, пока есть возможность в этом проекте кусок выхватить

  14. Synereo sounds like it would lead to god-awful attention-seeking. That shit's bad-enough on normal social media, but now it's monetized.

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