Journal Entry: Olaf James Haugen-08/07/2024-Lesson 9: Decentralized Applications

Journal Entry

They are not the same as a web app because they run on the blockchain which makes them unique in their own way. I don’t understand the concept because I have never used it yet but i believe the the benefit would be how the NCAA implemented the NIL Name /image /likeness in their sports, were as the college was the only ones getting paid for their athletes’ contributions now the athletes are getting paid to represent themselves if a person wants to financially back them .That’s how these Dapps seem to work you can get royalties if you set up your NFTs the right way which lets you be your own boss through how good your work is.The challenge is making something that people want to see and listen to or be apart of basically the more popular your work the better for you. The finance would be transparent and everyone can see what you are doing so you cant put no bad or small print contracts that are gonna surprise you with some fee or hardship down the line. And the ownership would always be validated through the system which should never change. I would have to think about which ways would benefit me and the way i would use them i still have a small understanding and would like to learn more about in order to figure something out.

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