Blockchain technology has been influencing business processes throughout the industries. The technology commenced permitting bitcoin transactions. However, special attention will be diverted to how Blockchain technology is influencing mobile apps. People from all sectors have a lot of queries regarding how Blockchain solutions will transform mobile app development.
Mobile space has all the hype as the tech world is booming. This blog post is fundamentally intended on how to apply Blockchain solution in the mobile world. Let’s first take a glance at what is special about Blockchain.
What is Blockchain Technology?
Blockchain refers to a digital ledger that is incorruptible and where all the economic transactions can be programmed. You can maintain a record of not only financial transactions but can store everything that is of value to you on a virtual basis. You will be surprised to know that Blockchain has been growing in popularity and is estimated to cross the $20 billion mark by the year 2024.
Blockchain technology is special as it provides cryptographic security. You only need to write once and after that, there is a requirement to append the code. Blockchain has some powerful features such as decentralized architecture and distribution and can be partially or completely replicated.
How Blockchain Technology is Disrupting Mobile Space?
After making a mark in various fields, Blockchain is all set to make its way in the mobile world. The mobile app developers are taking advantage of its decentralized structure. Diverse shortcomings arising in mobile apps can be easily removed by the use of blockchain’s decentralized architecture.
Further, it also enhances security as it supports various digital currencies such as bitcoin, Ethereum, and Litecoin. This makes the overall transaction process convenient and smoother. The data security is enriched as there is no tampering with the data while doing any transactions.
To know about blockchain technology and how it is innovating the mobile space, we need to ponder its advantages.
Some of the benefits are as follows:
Increased Data security
Enhances Transparency
Implementation is easy
A marketing model is developed
1. Increased Data Security
Whether it’s mobile app developers or users, the fundamental concern for both of them is safety. People have stopped using any new apps due to the breach of data. When you build an app using Blockchain technology, there is data privacy. This feature makes the mobile apps safe and secure.
There is no risk of any third-party app chaos due to the decentralized structure. The encryption technique used is impassable which further enhances security. No one can manipulate the data or redefine operations as timestamp is attached for every transaction done using Blockchain.
2. Enhances Transparency
As is already mentioned Blockchain has a decentralized structure, all the transactions are recorded in a public ledger. Due to this, the ease of tracking becomes easy. This enhances the feature of transparency and minimizes any risk of fraudulent transactions.
The entire system of Blockchain cannot tamper at all. This proves that technology is making the mobile world more scalable and the end-users can easily be scaled. Further, security is also improved for the mobile apps whether you are upgrading the features or not.
Many mobile app development companies are hiring mobile app developers who are well-versed in Blockchain technology. This helps companies to participate in the growth and evolution of mobile apps through Blockchain technology.
3. Implementation is Easy
Developing a new app using Blockchain is a challenging task. However, the implementation process is a bit easier. If you deal with any technology that is complicated time and energy spent are more. This also increases the expenses and maintenance of the technology. However, this is not the case with Blockchain.
The development and implementation are simpler when Blockchain comes into play. The time is saved, expenses are less, and the mobile app is feature-packed.
4. A Marketing Model is Developed
By using Blockchain, an advertising model is developed. This reduces the cost of campaigns spent on marketing. The reach of the audience is also increased. Blockchain reduces the involvement of the middlemen which affects sales and increases the cost.
Blockchain uses a cost-per-attention model. The users are given an award in the form of app coins for whatever time they spent using the mobile app. The requirement of middlemen will be minimized and the users will be rewarded in the form of coins.
Wrapping Up
There are a variety of benefits that Blockchain technology has on the mobile world. More businesses are investing in this new technology due to many of its powerful features.
Blockchain is a reliable and simple to use technology.
It comes with data security for mobile apps.
Blockchain is improving the transparency feature required in building mobile apps.
Chainlink, EOS Dynasty, Chainyard, Circulor, and KYC Chain are some of the mobile apps developed using Blockchain.
Vaibhav Bhandari is a seasoned Mobile app developer in Mobibiz, one of the best mobile app development company in Gurgaon. He has been working in this domain for the last 5 years and has worked for more than 100 clients from across the world. Apart from development, he is an avid technology reader and loves to write and share her knowledge about the Mobile App Development of different blogging websites.
