Definition
A decentralized application is an application whose important operations are carried out through a distributed network, often using smart contracts on a blockchain. Its interface may resemble an ordinary website, while transactions submitted through that interface trigger publicly verifiable contract execution. Examples include exchanges, lending systems, games, and digital asset registries. Decentralization is not an all-or-nothing property: an application can use on-chain contracts while still relying on a centralized website, price feed, hosting provider, or administrator key. Users should therefore separate the interface from the contracts and infrastructure underneath it. A website disappearing does not always make the contracts inaccessible, but interacting without the usual interface can be difficult and risky. The DApp label also does not establish that code is immutable, audited, permissionless, or economically sound. Those characteristics depend on the specific implementation and its controls.
Source references
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