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How to build a DApp on Ethereum

To build an Ethereum DApp, utilize development tools, create secure smart contracts, design user-friendly front-end, rigorously test it before deploying…

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5 months ago

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To build an Ethereum DApp, utilize development tools, create secure smart contracts, design user-friendly front-end, rigorously test it before deploying it.

The Ethereum DApps ecosystem is thriving, and the potential for decentralized applications (DApps) is immense. Who wouldn’t want to participate? 

Developers can now build applications with their own native coins or nonfungible tokens (NFTs) on secure blockchain networks to serve any purpose — from financial and industrial use cases to social media sites and, of course, for gaming.

Let’s look at some questions developers might have and how they can get started on an Ethereum DApp project.

What are DApps?

DApps are blockchain-based versions of the applications and software we use daily. They are powered with smart contract technology and built on smart contract-enabled blockchains like Ethereum.

The main benefits of DApps are that they can run on decentralized blockchains controlled by technology or community methods of governance rather than single corporate entities. With blockchain networks, DApp data doesn’t live in a single place, so there’s higher network security. DApps use cryptocurrencies, which makes allocating and transferring value, or making payments, far easier and less costly than fiat currency transactions.

Can you build DApps on Ethereum without experience?

For those who are already software or web developers, Ethereum DApp development might come naturally with an understanding of blockchain technology, smart contracts, Solidity programming language and cryptocurrencies.

There are also platforms in development that will allow developers to build DApps with less blockchain, programming and smart contract knowledge, but it’s helpful to have some development experience.

Which blockchain is best to create a DApp?

Ethereum’s longevity in the crypto space and its popularity often make it the preferred blockchain for DApp building. The network is still innovating; it is tried and tested and has an established ecosystem for DApp development. However, one may consider the transaction or Ethereum gas fees a crucial factor to weigh against other networks before embarking on any development initiatives.

Other smart contract blockchain networks include Solana, Polkadot, BNB Smart Chain, Eos, Tron and Cardano; each has its strengths and weaknesses compared to Ethereum.

The network chosen may have implications for the interoperability, scalability, security and cost of the DApp development, as well as dictate the community of DApp users that can be reached when launched.

To decide which blockchain is best to create a DApp, developers can begin by analyzing a DApp’s requirements and goals, as well as looking at the development expertise within the existing team or the team hired.

How many DApps run on Ethereum?

Over 3,000 DApps are running on Ethereum, with more in development. DappRadar is a popular site to check out the DApps on Ethereum and its competitor networks, as well as how many users each DApp has and how many transactions are processed.

Why build a DApp on Ethereum?

There are a number of smart contract blockchains to consider for those planning to build a DApp, but Ethereum is arguably the most popular and has the highest decentralized security.

Ethereum was the first smart contract blockchain, and it has a large developer community and repositories of open-source code available for new developers. It’s also a common choice for business developers looking to develop their own enterprise-level blockchain initiatives.

What are Ethereum DApps examples?

There are hundreds of popular Ethereum DApps and many more that are just building their user bases; here are a few established and well-used examples:

Uniswap

One of the most-used Ethereum DApps is the decentralized exchange (DEX) Uniswap, which has now seen over $1 trillion traded on the platform.

OpenSea

The OpenSea platform is one of the largest NFT marketplaces, with over 2 million NFT collections and 80 million individual NFTs for sale.

MetaMask

Both a cryptocurrency wallet and a gateway, or browser, for accessing blockchain-based applications, MetaMask is known as a user-friendly crypto tool.

Axie Infinity

This NFT-based game is a great example of an in-play virtual economy in action, and it’s one of the most popular DApp games.

How to build an Ethereum DApp

Aspiring developers can begin an Ethereum DApp development by considering what a DApp needs and its purpose. Then, the next step is to start researching Ethereum DApp development tools and processes.

DApp and smart contract development can be complex, and it’s certainly different from conventional web or software development. A sensible place to begin in-depth research is Ethereum’s Developer Resources, which is “a builders manual for Ethereum.” As a decentralized application tutorial, it’s one of the most comprehensive.

Five elements to consider while building an Ethereum DApp

An Ethereum DApp development project will need to be planned in detail, just like any business or project. To map out how to build a DApp on Ethereum, here are a few more components to research first:

1. Development environment, tools and smart contracts

Once a development team is finalized, a DApp will need a development environment, usually a blockchain-based testnet, where Ethereum DApp architecture can be built and tested using applicable development tools. Smart contracts also have to be expertly designed and written.

2. Security

Blockchain networks can be more secure for financial transactions than traditional systems, but it’s not feasible to skimp on Ethereum DApp security. Cryptographic security is complex, and it needs to be understood well or expert-driven, remembering that blockchain networks and cryptocurrencies are frequently targeted by hackers and scammers.

3. Front-end development and user experience

Front-end DApp development usually happens after the DApp architecture and smart contract build. A front-end web or Web3 application might use more conventional development tools, but the user experience will need to be designed in detail, too, to ensure a project’s success.

4. Ethereum DApp testing and debugging

Developers planning to build on Ethereum benefit from blockchain technology that has been used and tested, as well as open-source code repositories to help with new projects. However, developers must also test and debug new DApp builds, smart contracts and UI/UX, as there’s nothing worse than launching software that doesn’t work!

5. DApp deployment

An Ethereum DApp deployment will be the last element of a project and probably the most exciting. Once testing and debugging is complete, a DApp is taken out of its testnet and deployed to the Ethereum mainnet, where it can be used by customers. At this stage, a project’s sales and marketing will begin in earnest.

How much does it cost to build a DApp on Ethereum?

Developers with experience who build their own DApps using the Ethereum development tools available may experience lower build costs. For developers or entrepreneurs looking to hire a DApp developer or an Ethereum DApp development team, estimates can run from $15,000 and upward for a simple DApp to $30,000 and upward for a more complex DApp or to hire a more experienced developer.

Challenges associated with DApp development on the Ethereum blockchain

Building a DApp on Ethereum or any other blockchain will be without its challenges. Here are a few that might need to be anticipated:

Market saturation

There are already over 3,000 DApps built on Ethereum, so any new DApp development must compete, at least within the Ethereum community, for attention.

Scalability, speed, security, interoperability and decentralization

Every smart contract blockchain is still working on sufficiently answering blockchain’s promises and the inherent challenge of delivering the ability of projects to scale for mainstream use and become interoperable with other projects and technologies while retaining security and decentralization.

Transaction or gas fees and crypto price volatility

Every transaction within a DApp generates transaction fees — in Ethereum’s case, gas fees — which are usually passed on to DApp users. Crypto coins or tokens associated with DApps will also experience the price volatility felt by the broader market.

Availability of expertise/smart contract complexity

Blockchain development is still a very new profession, so there’s a real shortage of seasoned experts, and smart contracts still have their technological limitations for developers to navigate.

Lack of sector regulation

As crypto coins and tokens, including those used in DApps, have yet to be comprehensively regulated, there’s much uncertainty when developing these digital currencies.

User experience

Outside of the crypto community, DApp functionalities can be difficult for consumers used to conventional apps to get to grips with, and many consumers are still unsure about using cryptocurrencies.

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Fast-food chain closes restaurants after Chapter 11 bankruptcy

Several major fast-food chains recently have struggled to keep restaurants open.

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3 hours ago

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March 15, 2024

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Competition in the fast-food space has been brutal as operators deal with inflation, consumers who are worried about the economy and their jobs and, in recent months, the falling cost of eating at home. 

Add in that many fast-food chains took on more debt during the covid pandemic and that labor costs are rising, and you have a perfect storm of problems. 

It's a situation where Restaurant Brands International (QSR) has suffered as much as any company.  

Related: Wendy's menu drops a fan favorite item, adds something new

Three major Burger King franchise operators filed for bankruptcy in 2023, and the chain saw hundreds of stores close. It also saw multiple Popeyes franchisees move into bankruptcy, with dozens of locations closing.

RBI also stepped in and purchased one of its key franchisees.

"Carrols is the largest Burger King franchisee in the United States today, operating 1,022 Burger King restaurants in 23 states that generated approximately $1.8 billion of system sales during the 12 months ended Sept. 30, 2023," RBI said in a news release. Carrols also owns and operates 60 Popeyes restaurants in six states." 

The multichain company made the move after two of its large franchisees, Premier Kings and Meridian, saw multiple locations not purchased when they reached auction after Chapter 11 bankruptcy filings. In that case, RBI bought select locations but allowed others to close.

Burger King lost hundreds of restaurants in 2023.

Image source: Chen Jianli/Xinhua via Getty

Another fast-food chain faces bankruptcy problems

Bojangles may not be as big a name as Burger King or Popeye's, but it's a popular chain with more than 800 restaurants in eight states.

"Bojangles is a Carolina-born restaurant chain specializing in craveable Southern chicken, biscuits and tea made fresh daily from real recipes, and with a friendly smile," the chain says on its website. "Founded in 1977 as a single location in Charlotte, our beloved brand continues to grow nationwide."

Like RBI, Bojangles uses a franchise model, which makes it dependent on the financial health of its operators. The company ultimately saw all its Maryland locations close due to the financial situation of one of its franchisees.

Unlike. RBI, Bojangles is not public — it was taken private by Durational Capital Management LP and Jordan Co. in 2018 — which means the company does not disclose its financial information to the public. 

That makes it hard to know whether overall softness for the brand contributed to the chain seeing its five Maryland locations after a Chapter 11 bankruptcy filing.

Bojangles has a messy bankruptcy situation

Even though the locations still appear on the Bojangles website, they have been shuttered since late 2023. The locations were operated by Salim Kakakhail and Yavir Akbar Durranni. The partners operated under a variety of LLCs, including ABS Network, according to local news channel WUSA9. 

The station reported that the owners face a state investigation over complaints of wage theft and fraudulent W2s. In November Durranni and ABS Network filed for bankruptcy in New Jersey, WUSA9 reported.

"Not only do former employees say these men owe them money, WUSA9 learned the former owners owe the state, too, and have over $69,000 in back property taxes."

Former employees also say that the restaurant would regularly purchase fried chicken from Popeyes and Safeway when it ran out in their stores, the station reported. 

Bojangles sent the station a comment on the situation.

"The franchisee is no longer in the Bojangles system," the company said. "However, it is important to note in your coverage that franchisees are independent business owners who are licensed to operate a brand but have autonomy over many aspects of their business, including hiring employees and payroll responsibilities."

Kakakhail and Durranni did not respond to multiple requests for comment from WUSA9.

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Industrial Production Increased 0.1% in February

From the Fed: Industrial Production and Capacity Utilization
Industrial production edged up 0.1 percent in February after declining 0.5 percent in January. In February, the output of manufacturing rose 0.8 percent and the index for mining climbed 2.2 p…

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March 15, 2024

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From the Fed: Industrial Production and Capacity Utilization
Industrial production edged up 0.1 percent in February after declining 0.5 percent in January. In February, the output of manufacturing rose 0.8 percent and the index for mining climbed 2.2 percent. Both gains partly reflected recoveries from weather-related declines in January. The index for utilities fell 7.5 percent in February because of warmer-than-typical temperatures. At 102.3 percent of its 2017 average, total industrial production in February was 0.2 percent below its year-earlier level. Capacity utilization for the industrial sector remained at 78.3 percent in February, a rate that is 1.3 percentage points below its long-run (1972–2023) average.
emphasis added
Click on graph for larger image.

This graph shows Capacity Utilization. This series is up from the record low set in April 2020, and above the level in February 2020 (pre-pandemic).

Capacity utilization at 78.3% is 1.3% below the average from 1972 to 2022.  This was below consensus expectations.

Note: y-axis doesn't start at zero to better show the change.


Industrial Production The second graph shows industrial production since 1967.

Industrial production increased to 102.3. This is above the pre-pandemic level.

Industrial production was above consensus expectations.

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Southwest and United Airlines have bad news for passengers

Both airlines are facing the same problem, one that could lead to higher airfares and fewer flight options.

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4 hours ago

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March 15, 2024

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Airlines operate in a market that's dictated by supply and demand: If more people want to fly a specific route than there are available seats, then tickets on those flights cost more.

That makes scheduling and predicting demand a huge part of maximizing revenue for airlines. There are, however, numerous factors that go into how airlines decide which flights to put on the schedule.

Related: Major airline faces Chapter 11 bankruptcy concerns

Every airport has only a certain number of gates, flight slots and runway capacity, limiting carriers' flexibility. That's why during times of high demand — like flights to Las Vegas during Super Bowl week — do not usually translate to airlines sending more planes to and from that destination.

Airlines generally do try to add capacity every year. That's become challenging as Boeing has struggled to keep up with demand for new airplanes. If you can't add airplanes, you can't grow your business. That's caused problems for the entire industry. 

Every airline retires planes each year. In general, those get replaced by newer, better models that offer more efficiency and, in most cases, better passenger amenities. 

If an airline can't get the planes it had hoped to add to its fleet in a given year, it can face capacity problems. And it's a problem that both Southwest Airlines (LUV) and United Airlines have addressed in a way that's inevitable but bad for passengers. 

Southwest Airlines has not been able to get the airplanes it had hoped to.

Image source: Kevin Dietsch/Getty Images

Southwest slows down its pilot hiring

In 2023, Southwest made a huge push to hire pilots. The airline lost thousands of pilots to retirement during the covid pandemic and it needed to replace them in order to build back to its 2019 capacity.

The airline successfully did that but will not continue that trend in 2024.

"Southwest plans to hire approximately 350 pilots this year, and no new-hire classes are scheduled after this month," Travel Weekly reported. "Last year, Southwest hired 1,916 pilots, according to pilot recruitment advisory firm Future & Active Pilot Advisors. The airline hired 1,140 pilots in 2022." 

The slowdown in hiring directly relates to the airline expecting to grow capacity only in the low-single-digits percent in 2024.

"Moving into 2024, there is continued uncertainty around the timing of expected Boeing deliveries and the certification of the Max 7 aircraft. Our fleet plans remain nimble and currently differs from our contractual order book with Boeing," Southwest Airlines Chief Financial Officer Tammy Romo said during the airline's fourth-quarter-earnings call. 

"We are planning for 79 aircraft deliveries this year and expect to retire roughly 45 700 and 4 800, resulting in a net expected increase of 30 aircraft this year."

That's very modest growth, which should not be enough of an increase in capacity to lower prices in any significant way.

United Airlines pauses pilot hiring

Boeing's  (BA)  struggles have had wide impact across the industry. United Airlines has also said it was going to pause hiring new pilots through the end of May.

United  (UAL)  Fight Operations Vice President Marc Champion explained the situation in a memo to the airline's staff.

"As you know, United has hundreds of new planes on order, and while we remain on path to be the fastest-growing airline in the industry, we just won't grow as fast as we thought we would in 2024 due to continued delays at Boeing," he said.

"For example, we had contractual deliveries for 80 Max 10s this year alone, but those aircraft aren't even certified yet, and it's impossible to know when they will arrive." 

That's another blow to consumers hoping that multiple major carriers would grow capacity, putting pressure on fares. Until Boeing can get back on track, it's unlikely that competition between the large airlines will lead to lower fares.  

In fact, it's possible that consumer demand will grow more than airline capacity which could push prices higher.

Related: Veteran fund manager picks favorite stocks for 2024

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