Are Blockchain-related to cryptocurrencies? Well, People usually think that it is related to cryptocurrencies such as Bitcoin, Litecoin, etc. But that’s not all; there are different settings too beyond cryptocurrency context where blockchain technology is being used massively nowadays. Blockchain today is used in almost every sector or industry. It is a future of mobile app development. Some of them are banking, mobile app development, hedge funds, infrastructure security, healthcare, etc.
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First of all, Blockchain in Short
Blockchain is a technology that lets companies and people make instant transactions on a network without involving any middlemen. Deals done on the Blockchain are entirely secure, and they kept as a record. Strong computer coding ensures that no record of a transaction can be altered after the fact on the Blockchain.
How Does It work?
To understand the future of mobile app development. First of all, we will know about history. So, Blockchain is a history of transactions. It is a chain of blocks that represent data held in a specific order.
It mostly functions as a ledger, but only that no one can change the data once put in it. Each block of Information outlines new transactions on the ledger. This way, individuals and companies both can make and verify the transactions.
Primarily, future of mobile application development Blockchain plays a vital role in tracking transactions securely, which is something that every trade would need to do at some point in time.
So, let us see how mobile app developers can reap the benefits of future of mobile app development technology in the next time by implementing blockchain technology in the mobile apps they create.
Since all the mobile app developers and software developers need to be aware of any emerging technology in this sector. We have curated a list of the goods and benefits that blockchain has been raking for mobile app development in the mobile industry and how it will be future of mobile app development.
Also, Read: 9 Latest Mobile App Development Trends in 2019
Benefits of Blockchain in Future of Mobile App Development
1. A Secure See Through Environment
- There is excellent transparency with Blockchain technology. Since every transaction recorded, users and the developers both can track the Information and see everything involved in the process.
- It mostly helps in solving unique challenges related to the Health Insurance Portability and Accountability Act (HIPAA).
2. A Complex Digital Ledger System
- Since Blockchain works as a ledger but through a computer network, it is collaboratively sending and parsing data all the time. Whenever there is a change in any information, that change broadcasted to other networking machines that hold the same ledger to update the values.
- In the same way, mobile technology uses a client and server-side system. The phone and app act as a client, and the central server distributes data upon accepting requests from the client.
- Blockchain can immensely improve the mobile networks which run with millions of user’s data streaming and storage.
3. Encryption Granted For Multiple Users
- Encryption is so sophisticated in the Blockchain that no one can track the system unless they have a decryption key. And this system can be granted to anyone that requires multiple user access; hence, it influences future of mobile app development immensely.
4. Digital Wallets for Cryptocurrency
- The cryptocurrency boom has brought massive popularity in digital wallet apps. With this, mobile app developers see a considerable increase in the demand for cryptocurrency-based digital wallets that rely on blockchain technology.
- Everyone wants a secure digital wallet app that ensures that their transactions are carried out just like other online payment systems.
5. Digital Identity
- Mobile app developers are creating digital ID management apps for insurance companies, banks, and other such companies. This ID Management is because the government organizations, banks, educational institutions, and others are using users’ personal digital identity, which is created on the blocks of the Blockchain.
- Now, since each block on the Blockchain have their unique character and are reliable, it is easy to register personal information on the blockchain network publically or privately.
6. Smart Contract Systems
- Blocks on the Blockchain can record any information – may it be timestamp, ownership, or even values. This way, Blockchain can be used to create intelligent contract systems.
- Since the possibility of data manipulation is very negligible, it supports the concept of smart contracts between customers and businesses due to its peer-to-peer architecture.
- Therefore, mobile applications are developing more aggressively to provide a facility invalidating such transactions. Such agreements will become more and more secure and cost-effective between the parties as compared to the real-world legal procedures.
As the above advantages mentioned suggest, it clearly shows that the blockchain technology can drive innovation for the business process and enhance security, transparency, and efficiency for the customers at the same time. We can also see from the above information that how it impacts the future of mobile app development.
This Information means that the blockchain technology will serve the mobile app developers as a futuristic magic tool that can take their app development to the next level. So, make sure your mobile app developers have the right skills and expertise to integrate the best benefits of blockchain technology into your app development.