The creator of Dogecoin, Jackson Palmer addressed recently decentralized applications or DApps. He emphasized that cryptocurrency developers and the cryptocurrency community need to find a way to motivate people to use decentralized applications (DApps). The existing users of centralized networks and systems need to be incentivized more to use DApps, because the existing users of decentralized applications are far fewer than expected.
The creator of Dogecoin, Jackson Palmer is right, because DApps aren’t as perfect as centralized applications. Most decentralized application alternatives are better, because your information is safe from big corporations and some of them are truly great with a great user interface (UI). But centralized applications have a bigger team around them and thus they are developing faster than DApps.
Dogecoin creator, Jackson Palmer is right
Decentralized cryptocurrency exchanges and applications were hyped a lot in 2017 and throughout 2018. But they aren’t doing nearly as well as centralized cryptocurrency exchanges. Dogecoin creator, Jackson Palmer added:
“The attitude build it and they will come simply does not apply to blockchain for X, because it assumes that the bulk of users are currently so dissatisfied with the centralized version that they will absorb typically large switching costs” – added Jackson Palmer, creator of Dogecoin. You can see below Dogecoin’s price graph.
DApps need to incentivize people based on their activity. They can reward them with digital currencies for their time and other participation points. Increasingly more and more applications are opting to incentivize people for their activity. This is something that DApp developers must do to incentivize people to switch from centralized applications to decentralized.
“Meanwhile, stand alone currencies like Ethereum and Bitcoin are increasingly being perceived by the masses as investment vehicles rather than actual currencies, because of retail investor applications like Robinhood and others. So Ethereum and Bitcoin are just another stock-like entities to people” – concluded the creator of Dogecoin.”