The internet is flooded with mobile and web applications based on centralised servers. With the hundreds of thousands of these applications providing services to billions of users, it can seem counterintuitive to try to lay a new foundation for these applications.
However, there are critical issues faced by today’s centralised applications such as:
- A central point of failure
- Lack of user data privacy and security
- Poor incentive model, and much more.
Decentralised applications based on a blockchain can solve these issues. It is almost impossible to breach or hack these apps as they are based on decentralised databases. Blockchain applications also provide ownership of data to the users and boost user engagement through a user-centric token economy.
The Alacrity Network is an open-source blockchain platform that takes the idea of DApp development to the next level by providing developers with the necessary resources for the creation of innovative DApps. While over time, there will be a wide array of applications, four types of DApps are presently under development on the Alacrity Network.
The global online lottery market is growing with a CAGR of 8% and is expected to bring a revenue of more than $10 billion by 2023. But the current market is least trustworthy due to increasing scams and a lack of effective systems to ensure payment to users.
Decentralised lottery applications on Alacrity Network will curb the issue of trust within the industry by replacing the centralised payment system with smart contracts. Every time people bet their money in a lottery, the fund would be stored in an escrow wallet within the ecosystem and will automatically be released to the winners of the lottery. As smart contracts cannot be overridden or hacked, there will be zero chances of any frauds with the users.
Automated freelance marketplaces
The gig economy is growing at a fast pace with more millennials opting for freelance work over fulltime jobs. Today’s most widely recognised freelance marketplaces are exploiting the growing industry and charging service fees of up to 20%.
On a decentralised freelance marketplace, all activities will be governed through smart contracts. Transactions will be smoother and automatically settled as soon as the payment terms of the smart contracts are met. Besides, payments can be done in cryptocurrencies without paying high transaction fees for international payments.
Ecommerce platforms today are highly centralised and control their user data. They also create an unfair market by placing their products over that of other sellers, thus forcing sellers to spend more on paid promotions.
Decentralised e-commerce platforms on Alacrity can challenge the centralised ones by providing prominent security to user data through blockchain cryptography. It will create a fairer market for small-scale sellers who cannot compete with large companies in terms of marketing expenditure. The products listed such platforms will be ranked based on the reviews on recommendations of other users.
Ride-sharing applications like Uber incentivise themselves by charging a commission for each booking a driver receives. Over time, these applications have started taking a larger cut from drivers’ earnings.
A ride-sharing DApp can create a fee model that will not directly cut into the daily earnings of the drivers rather charge them an annual fee for accessing the application. This will be far less expensive than what drivers would otherwise pay on a per-ride basis.
The way forward
The above-mentioned decentralised applications are only four of the many types of applications developers can build and deploy on Alacrity Network. They can also create their own economic model with a unique token within their application and provide a wide range of services. In the long run, Alacrity Network aims to be the platform that supports applications which can be used by people just like today’s conventional mobile and web apps.