DApps, or decentralized applications, refer to computer programs that operate on a decentralized network, like a blockchain network, rather than being controlled by an individual organization. Unlike conventional applications that are usually governed by a central authority, DApps are built to be decentralized, functioning without a central point of control. They typically operate using tokens (digital assets), which are used to incentivize their users. One of the key benefits of DApps is that they allow for transactions without the need for intermediate 3rd parties, which can reduce costs and increase efficiency.