Convert DAPP to HKD

LiquidApps (DAPP) is a decentralized network of services designed to make blockchain development more accessible and efficient, primarily built on the EOS network.

Key takeaways

• LiquidApps (DAPP) is a Layer 2 solution that provides a suite of developer tools and services to simplify the creation of scalable and user-friendly decentralised applications (dApps).
• The DAPP token is central to the LiquidApps ecosystem, used for staking, paying for services, and participating in network governance.
• The project operates on a Delegated Proof-of-Stake (DPoS) consensus mechanism, inherited from the EOS blockchain, ensuring high throughput and low transaction costs.
• LiquidApps offers a range of services including the DAPP Network, vRAM, and vCPU, which aim to solve common blockchain limitations like storage and computational costs.
• The DAPP token has no maximum supply, with new tokens minted to reward service providers and network participants.

What is LiquidApps? Key Specifications & Tokenomics

LiquidApps is a decentralised network that provides a suite of developer tools and services to simplify the creation of scalable and user-friendly decentralised applications (dApps). It acts as a Layer 2 solution, primarily built on the EOS blockchain, to address the challenges of high storage and computational costs that often hinder dApp development.

The DAPP token is the native utility token of the LiquidApps ecosystem. It has no maximum supply, meaning new tokens can be minted over time to reward service providers and network participants. This inflationary model is designed to incentivise the continuous provision of services and maintain the network's health. The token is used for staking, paying for services like vRAM and vCPU, and participating in the governance of the network.

Who created LiquidApps (DAPP)?

LiquidApps was created by a team of experienced blockchain developers and entrepreneurs, with the project being spearheaded by Beni Hakak. Beni Hakak is a well-known figure in the EOS ecosystem, having previously served as the CEO of EOS Nation, a prominent block producer on the EOS network. His deep understanding of the EOS blockchain's capabilities and limitations directly influenced the design of LiquidApps.

The project was launched in 2019 with the goal of solving the "data storage and computational bottlenecks" that were hindering the mass adoption of dApps on EOS and other blockchains. The team behind LiquidApps recognised that while EOS offered high throughput and zero transaction fees for users, the costs for developers to store data and run complex computations were still prohibitive. This led to the creation of the DAPP Network, a Layer 2 solution that offloads these tasks to a network of service providers.

The development of LiquidApps has been supported by a community of developers and service providers who contribute to the network's growth. The project's governance is managed by DAPP token holders, who can vote on proposals and influence the direction of the network. This decentralised approach ensures that the project remains aligned with the needs of its users and the broader blockchain community.

How does LiquidApps (DAPP) work?

LiquidApps operates as a Layer 2 network built on top of the EOS blockchain, leveraging its high throughput and low latency. The core of the system is the DAPP Network, which consists of a set of smart contracts and a network of service providers. These service providers, known as DAPP Service Providers (DSPs), offer various services to dApp developers, such as vRAM (virtual RAM) and vCPU (virtual CPU).

The DAPP token is the fuel that powers this ecosystem. Developers stake DAPP tokens to access the services provided by DSPs. In return, DSPs earn DAPP tokens as rewards for providing their computational and storage resources. This creates a market-driven ecosystem where the cost of services is determined by supply and demand. The staking mechanism also ensures that developers have a vested interest in the network's health and security.

The consensus mechanism of LiquidApps is inherited from the EOS blockchain, which uses Delegated Proof-of-Stake (DPoS). In DPoS, token holders vote for a set of block producers who are responsible for validating transactions and maintaining the network. This system allows for high transaction throughput and low latency, making it ideal for dApps that require fast and cheap transactions. The DAPP Network itself does not have its own consensus mechanism; instead, it relies on the security and finality of the underlying EOS blockchain.

What makes LiquidApps (DAPP) unique and valuable?

LiquidApps stands out in the blockchain space for its practical approach to solving real-world development challenges. Its primary value proposition lies in its ability to dramatically reduce the cost and complexity of building dApps. By offering services like vRAM and vCPU, LiquidApps allows developers to offload expensive on-chain storage and computation to a decentralised network of service providers, making dApp development more accessible and sustainable.

Another unique aspect is its focus on interoperability and flexibility. While primarily built on EOS, the DAPP Network is designed to be blockchain-agnostic, meaning it can potentially support other blockchains in the future. This flexibility allows developers to choose the best blockchain for their needs while still benefiting from the services offered by LiquidApps. The project's governance model, where DAPP token holders can vote on proposals, also ensures that the network evolves to meet the changing needs of its users.

The value of the DAPP token is directly tied to the utility and adoption of the LiquidApps network. As more developers use the DAPP Network to build and scale their dApps, the demand for DAPP tokens for staking and paying for services increases. This creates a positive feedback loop where increased adoption drives demand for the token, which in turn incentivises more service providers to join the network, further improving its capabilities and value.

What is LiquidApps (DAPP) used for?

The DAPP token has several key use cases within the LiquidApps ecosystem:

• Staking for Services: Developers must stake DAPP tokens to access the services provided by DAPP Service Providers (DSPs). The amount of DAPP staked determines the level of service a developer can access, such as the amount of vRAM or vCPU they can use.
• Paying for Services: While staking is the primary mechanism, DAPP tokens can also be used to pay for services directly. This provides a flexible payment model for developers who may not want to lock up their tokens for extended periods.
• Network Governance: DAPP token holders can participate in the governance of the LiquidApps network by voting on proposals. This includes decisions about network upgrades, fee structures, and the addition of new services.
• Rewarding Service Providers: DSPs earn DAPP tokens as rewards for providing their computational and storage resources to the network. This incentivises them to maintain high-quality services and contribute to the network's overall health.
• Incentivising Development: The DAPP token is also used to incentivise developers to build on the LiquidApps platform. Grants and bounties are often paid in DAPP tokens to encourage the creation of new tools and applications.

How to buy DAPP Coin?

DAPP is a popular cryptocurrency listed on many exchanges. However, it is recommended to trade on a major platform like BTCC Exchange for higher liquidity and better customer support.

1. Register a BTCC Account: Sign up using your email or mobile number and complete the KYC verification to unlock more features and benefits of the platform.
2. Deposit Funds: Deposit fiat currency (via bank transfer, card, or third-party payment) or transfer USDT from an external wallet into your BTCC account. You can follow this guide.
3. Start Trading: Go to the trading page and search for the spot trading pair DAPP/USDT or the perpetual contract DAPPUSDT.
4. Place an Order: Enter the amount of DAPP you wish to purchase and submit the order. For contract trading, you can also choose to go short (sell) and adjust the leverage multiplier according to your strategy and risk tolerance.
5. Confirm Your Purchase: For spot purchases, check your personal account to see if the coins have arrived. For contract trades, check the trading page to see if your order was filled successfully.