Blockchain technology is latest buzz in almost every sector of different kind of business . The main reason why it has gained so much popularity is due to significant increase in the Bitcoin and its users.
Blockchain is known to be decentralised network which carries out the transactions in most secured way which is also fast , traceable and transparent . Now a days blockchain development technology is also one of the hottest topic among tech giants .
But the question is how do you actually trust that blockchain technology is 100% fit for carrying out secured transaction that fits in your application project ? You can get the answer to this question by having a deep understanding of fundamentals of Bitcoin and Blockchain .
What Is Blockchain ?
In order to understand blockchain in a better way , let’s take the first step of understanding Bitcoin .
So what do you think Bitcoin is ? Bitcoin is known to be the very first decentralised currency in the world which has gained huge popularity over the last couple of years . Bitcoin has been developed using the concepts of the blockchain technology which is totally based on the concept of carrying out transactions on the basis of chain . The information about transactions updates at all devices in the world simultaneously .
Even in the world of mobile app development , blockchain technology seems to be one of the growing area of technology and mobile app developers are actually using various tired and tested methods in order to bring out the best solution out of the blockchain technology .
Before moving further let me tell you that blockchain technology has become so popular that many of the website has started accepting cryptocurrency as payment for taxes .
In order to carry our any transaction using blockchain technology , peer to peer payment architecture is used rather than carrying out the old server based architecture .
So in order to get the best mobile application , a blockchain software development company
who also has deep understanding of the concept of bitcoin can help you reaping the full benefits of blockchain .
Let’s quickly look at some of the main reason for using blockchain technology with app development that together delivers the perfect match .
Blockchain Adds Digital Ledger System
Blockchain uses digital ledger technology that is backed up by expansive network technology , all sending and parsing data collaboratively . It works on chain module , wherein the information on one system is directly transmitted to other machines on network and at the same time it also ensures authenticity and consistency of information .
As in 2019 , wherein the data across the smartphone world is experiencing with very heavy traffic and everyone is relying on getting the data wirelessly , there may be the possibilities of loss of information being transmitted . Blockchain can help featuring advance storage and data streaming thereby improving data transmit significantly .
Transparency Features Creating More Secured Environment
Transparency is one of the important function for any application to function properly , and it must be carried out in secured way . While taking take of transparency , security is another major concern in order to facilitate user with tracking in secured environment , and thereby at the same time making it impossible to carry out any fake transactions .
Thanks to Blockchain ledger that facilitates you to see everything at one place . The information storage and categorisation all can be tracked , verified and secured at one place .
In case there is a situation wherein there is overflow of entries , blockchain has a special feature of expanding itself automatically . So what are you waiting for ? Hire a blockchain app developer
for creating your next big tech app .
Digital Data Is Safe Even If Accessed By Multiple Users At A Time
Encryption is made very complex with the use of Blockchain technology . Every user in blockchain has their own decryption key and hence it is impossible for anyone to fool the system .
In some professions mostly in case of financial and legal , multiple signatures are required at different stages . Blockchain technology can help them with carrying out the transaction with ease by allowing multiple parties to communicate with each other .
We have already discussed that blockchain is decentralised network which implies their is no mother and father for storage and management of information which makes it unique from other apps technologies that are till now available in market . These decentralised applications are completely open source and there is a need to operate autonomously .
A mobile application created with the merger of blockchain technology is latest and most effective way to create application that reflect your brand shininess .