DApp is an acronym for Decentralized Application.
Ethereum has the ability of running generic code (as you probably know). DApps are a group of smart contracts that get uploaded to the blockchain and perform some kind of function without an owner.
On a normal financial application you would give your money to an entity (that takes care of it and charges you an administration fee). On a DApp version of a financial application, you give your money to a code running in the blockchain...since there is no owner, no one charges you a administration fee.
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