As the concept is still in its infancy, there might not be one agreed definition within the crypto community of what qualifies as a decentralized application ("dapp"), but this article will explain some of the noticeable features. Ideally, a dapp should: 1) embrace open source development of its source code with public scrutiny on major changes, 2) all records of the application or application must be public and ideally on a decentralized blockchain for security, 3) validators on the blockchain should have financial incentive to contribute hash power (or electricity) to the network to maintain functions, and 4) the application must agree on a cryptographic algorithm to show proof of value of the assets that are staked across the entire network. Ethereum's top three dapps —’s DeFi Swap, Uniswap, and Compound — account for the more than 90% of the users. None of the remaining seven dapps had more than 30,000 active daily users for a month. According to Cointelegraph, last month’s high of 1 million active users represents less than 20% of October’s total active addresses, suggesting there is the potential for continued growth in the dapps ecosystem. Unsurprisingly, decentralized finance (defi) platforms accounted for over 94% of this activity. Despite improving know your customer (KYC) standards by decentralized exchanges (DEXs), it's still unclear how many of the 1 million active users are unique.