Future Of Blockchain In Mobile Apps

1. Future Of Blockchain in Mobile Apps Even though we are witnessing so much advancement in technology with every passing day, the idea of leveraging Blockchain is still considered a distant thought and intimidating to many. Unless you've been living under a rock, you must have heard about Blockchain; the underlying technology for Cryptocurrency. This game-changing technology has made it to the top due to its immutability, decentralization, automation and smart contract characteristics. People often think that blockchain is confined to cryptocurrencies (Bitcoin, Litecoin, etc.) only, but that’s not all. If you are also one of those people, blockchain technology has moved too beyond the cryptocurrency context and is being used massively nowadays in almost every industry/sector (healthcare, banking, security, etc.). The dominance of this technology has been on a constant rise since the world witnessed its first real-world application with the launch of Bitcoin in 2009. Over the progression of time, technology has emerged as a game-changer and given how huge it has become, multiple businesses and entrepreneurs are actively investing in blockchain technology. For the unversed, let’s take a quick glance at what Blockchain is and why it has become a buzzword. Read here also: https://morioh.com/p/e2be55122979

2. Understanding The Concept of Blockchain “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” Don & Alex Tapscott, authors Blockchain Revolution A blockchain is a series of unchangeable data that is timely managed over a decentralized structure, i.e. the data is not controlled by a single entity. Data decentralization guarantees data protection at every step where each data block is bound to each other via cryptographic principles. According to the reports by Statista, the blockchain market is expected to climb a revenue growth rate of over 23.3 billion US dollars in size by the year 2023. If you are pondering over the thought of how you can utilize blockchain development for your new or existing apps, scroll to the next section. Implications Of Blockchain Technology Adoption In Mobile App Development Blockchain technology is helping mobile app developers enhance the mobile app experience of users. Here’s how: 1.Cross-Border Transactions Cross-border transactions are not relatively a new concept but the process has always been painstakingly slow. Blockchain applications have made the process quick and hassle-free. How does it do so? It removes the intermediaries that exist in other methods of sending money. 2. Smart Contracts In Transactions The blocks on the blockchain can record any information - timestamp, ownership and even values. This way, Blockchain is used to build intelligent contract systems. Business transactions have become quite efficient due to smart contracts. The key reason being they do not depend on third parties when it comes to validating integrity in the transaction process. Also, the peer-to-peer architecture eliminates the scope of data manipulation. Hence, when there is no involvement of a middleman, you can easily carry out safe and secure transactions in real-time.

3. Read this: https://appventurez.gonevis.com/top-challenges-faced-by-mobile- app-developers/ 3. Blockchain works as a virtual distributed ledger for sending and parsing data all the time. Earlier, client and server-side systems were used for transactions which means the mobile and app would act as clients and the central server produces data upon requests. This often results in heavy trafficking on the channels due to a vast number of users flooding in to access wireless data. With blockchain technology, you get advanced storage options and data streaming to sort this matter out. Moreover, since it is powered by a computer network, the data is automatically updated and transmitted to other devices every time there is even a slight change. Complex Yet Secure Digital Ledger System Parting Thoughts In spite of being in its adolescent age, Blockchain development companies are experimenting with different applications and even making a successful breakthrough. Though the technology still has a long way to go, the apps built with it have huge potential for growth and offer great opportunities (speed, transparency and authenticity) for businesses to maximize their profits. If you are willing to leverage the technology into your business, Appventurez can help. We are a pioneer app development company with years of rich experience in blockchain app development. Get in touch with us to build a future-ready business!