What is a Decentralised Application?
Now decentralised applications have entered the industry, they are making many headlines. A decentralised application (dApp) as described on BlockchainHub, is an application that runs on a whole network of computers Peer-2-Peer (P2P). The dApp is programmed to run on the internet without any control from a central authority.
Bitcoin is a popular emerging dApp which has led innovation of the technology. It is an open-source protocol that operates autonomously with no single central authority controlling most of the tokens. Selling Bitcoin through BC Bitcoin will be subject to the network’s consensus and cannot deviate from the protocol. Though a dApp will have set parameters, it should be able to adapt and innovate under the consensus of the network.
DApps work in a similar way to conventional web applications. Both have a front end that is viewable by customers, but the backend is different. A traditional website’s front end will request information through an API to a database. A dApp will feed a request such as to sell Bitcoin from the front end to a smart contract that will autonomously pull information from the blockchain. The transaction to sell Bitcoin will also be recorded permanently on the immutable ledger.
A traditional website will run the backend code on a centralised server whereas the backend code to a dApp runs on a P2P network. The application’s data and records of a dApp must be cryptographically stored in a public blockchain for security. The application must also use a cryptographic token native to the system.
Though a dApp can be used to safely sell cryptocurrency, processing and logging financial transactions and data is not its only use. dApps can also be used for data processing, file storage, Identity & Reputation and governance such as online voting.
As companies further develop their dApp we are certain to see more diverse applications as businesses incorporate it with traditional systems for security and efficiency. We are yet to realise the full potential dApps can bring.
If you’re looking to sell crypto or keep up to date with the most informative news, then check out our site BC Bitcoin for all your UK cryptocurrency broking services.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing email@example.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to firstname.lastname@example.org from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at email@example.com Kind Regards