RISE Offers User Friendly DAPPs For Everyone
Posted By Anirudh Bhardwaj | 26-Jul-2016
Decentralized Applications or DAPPs are creating a new hype these days. The beauty of DAPPs lies in the fact that they put users in control of their own data and information which means there will be no third party or central system governing the data. DAPPs not only provide a total privacy to the users but owing to the blockchain support, they also provide transparency to the network. Yes, it’s Blockchain that makes them stand apart. Initially developed for running cryptocurrencies, this digital cryptographic ledger has many amazing aspects and countless applications. All the decentralized applications are open-source and they run on a blockchain. Besides, they must also have their own cryptographic token like Bitcoin.
Owing to the increasing popularity of Decentralized Applications, many new DAPP platforms are coming into picture. One such name is Rise. Rise is an all new Distributed DAPP platform based on a Cryptocurrency called Lisk. The sole aim of Rise is to provide a secure, private and user-friendly platform for creating Lisk based Decentralized Applications.
What Is Lisk?
A sidechain is an independent and customizable digital ledger which is meant to extend the scalability of the network by breaking up a blockchain into multiple sidechains. There can be many sidechains in a network and each sidechain is linked with the main blockchain thereby forming a vast and interoperable network.
RISE vs Ethereum
Ever since the Rise platform came into existence late last month, it is being compared with Ethereum. Ethereum, being the largest DAPP platform is bound to be compared with Rise. Ethereum happens to be the first platform to offer Blockchain-as-a Service and after its tremendous success, many similar projects have been initiated. Rise is one of them.
So all in all, Rise is yet another DAPP platform just like Ethereum. It’s just that it is based on an emerging Cryptocurrency called Lisk instead of Ether that serves as a fuel to Ethereum. Despite of any major breakthrough, Rise has been successful in raising a decent amount of money (more than 1 million dollars) during its ICO campaign that was closed on June 24.
Other Projects Similar To Ethereum
Ethereum is clearly not alone. There are many other projects that aim to deliver similar BaaS services to their users. Some examples are Maidsafe, Rootstock, Counterparty and Tauchain.
Maidsafe: Maidsafe is a decentralized and Peer-to-Peer platform that offers a secure way to access online applications by means of its private network called SAFE network.
Rootstock: It is a decentralized and Peer-to-Peer platform for the execution of Smart Contracts that runs on the Bitcoin’s blockchain.
Counterparty: Counterparty is yet another project running on Bitcoin’s blockchain that offers a Peer-to-Peer platform for various financial applications.
The emergence of all these DAPP platforms is a clear indication that a bright future lies ahead for Decentralized Applications and we are yet to discover many new aspects of this transpiring domain.