What are dapp?

Dapp is Decentralized Application. This is a common term in the cryptocurrency market. Dapp is a new model created by blockchain technology and smart contracts.
An application that is believed to be a Dapp Decentralized Application, it must meet the following minimum conditions:
- The application must be 100% open source, automatically run, and no organization can control the majority of its tokens.
- The application needs to have an encrypted token
- The application’s data and operational records must be encrypted in a public, centralized blockchain.
- The application must create tokens according to the standard crypto algorithms that serve as evidence of the value nodes contributing to the application (POW).
DApps uses peer-to-peer networks to regain sovereignty over the data we own. No third party can track, edit or stop them. DApps is promised to grow thanks to its open source nature and for the community.

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EF1 is a Defi Platform that allows users to save, loan, borrow and pay Crypto Assets in a global network.