How Blockchain Impacts Mobile App Development
While some organizations and individuals are still wary of the new technology, most businesses in industries across the board are rushing to invest in blockchain projects and applications. Designing applications with blockchain may be quite challenging, but the new technology has a variety of features that makes it a perfect match for mobile apps. Here are four ways in which blockchain impacts mobile app development.
Transparency and Security
Blockchain is a distributed database that contains blocks of data. The data stored on blocks is distributed on a ledger, ensuring traceability, transparency, and the impossibility of alteration. It operates autonomously and since there is not a single owner, changes are made by the consensus of all stakeholders. With its checks and balances, the digital ledger makes it impossible to lose or falsify information, allowing for improved transparency. It reduces fraudulent transactions and enhances app security.
A distributed database has many advantages. For instance, isolating parts of the network, a distributed database can achieve better performance compared to a non-distributed one, especially when encountering technological failures.
Improved Speed and Efficiency
This peer-to-peer architecture allows transactions to be carried out without the validation of the third party, making the process more efficient. One of the principal uses of blockchain tech is for making secure and transparent peer-to-peer payments that eliminate the need for middlemen. Using blockchain technology for mobile apps can help making e-transactions fast and more secure.
While content can come from a variety of sources today, purchasing apps is pretty much limited to the two options, App Store or Google Play. Blockchain can disrupt the app store business. It can reduce inefficiencies in advertising, billing, and app approval, eliminating extra costs associated with middlemen and app store fees.
There are still plenty of challenges associated with blockchain mobile app development. After all, the technology is still in its infancy. However, watching leaders in the tech space and beyond embracing blockchain, from Facebook to Samsung and Siemens, it becomes clear that the future of app development and use is intimately connected to blockchain tech.