Decentralized Applications (dApps)

• Software applications running on a blockchain network.
• Directly interact with crypto wallets.
• Use cases:
  • Exchanging cryptocurrencies on decentralized exchanges (DEXs).
  • Purchasing NFTs with cryptocurrency.
  • Authenticating token ownership for exclusive access to platforms.
  • Accessing video games and retaining data.
  • File storage.

Decentralized Exchange (DEX)

• A peer-to-peer marketplace for real-time cryptocurrency exchange.
• Similar to Forex for traditional currencies.
• No controlling authority; prices depend on supply and demand.
• No middleman involved.
• Examples: Uniswap, Dextools, DexScreener.

DEX vs Bridge

• Bridge: Transfers crypto across different networks (e.g., ETH to BTC).
• Important for moving crypto between networks without losing funds.

Introduction to NFTs (Non-Fungible Tokens)

• "Non-fungible" means unique and irreplaceable.
• Verified by blockchain, unlike traditional cryptocurrencies.
• Used as digital assets/products funded by cryptocurrencies.

Examples and Uses of NFTs

• Digital art.
• Digital membership cards.
• Digital authentication of physical products (e.g., pink slips, deeds).

NFT Marketplaces

• Decentralized platforms for NFT exchange.
• Prices determined by supply and demand in peer-to-peer exchanges.
• Examples: Opensea, LooksRare, X2Y2.

Key Differences

• DEXs and Bridges: Exchange cryptocurrencies.
• NFT Marketplaces: Exchange non-fungible tokens.