The blockchain is an underlying game-changing technology that is making waves across the world due to its immutability, automation, decentralization, and smart contract characteristics. Blockchain provides some amazing benefits to various industries such as insurance, healthcare, banking, finance, and real estate and now the world of mobile apps will be able to take advantage of blockchain to correct some flaws which have become obvious in recent years. Though, there are still miles to go as many new industries are discovering its potential.
Looking at the promising future of the Blockchain, the mobile app developers are driving the mobile apps with blockchain to explore the boundless opportunities and improve the applications ceaselessly. However, for defining the utility of blockchain for the application development industry, there are a few mobile apps based on the bitcoin technology or with similar functionality.
Let us take a look at how blockchain technology is impacting the mobile app development service:
MORE TRANSPARENT AND SECURE ENVIRONMENT- Though information is wholly available on the internet for anyone who might want to know more about their favourite apps and developers, blockchain technology in app development allows the client-side coders to go a step further. Introducing Blockchain into a mobile app would let the transaction activity get tracked in such a way that it makes it easy for the users to follow the information and reduce the possibility of creating fake transactions. With a record in blockchain ledger, users get easy and quick access to development logs, update notes and the entirety of the app’s code whenever they feel the need. Categorization and information storage are also tracked, verified, and secured through blockchain.
SAFEGUARD DIGITAL INFORMATION WITH MULTIPLE USER ACCESS- when it comes to the overall security measures, blockchain technology allows for encryption which can hardly be comprehended or cracked without the explicit permission given by the client-side administrator. This signifies that your mobile app will never be hacked, modified or otherwise tampered with without your permission. It also means that personal information provided by you will never face the risk of being leaked or going into the wrong hands.
HIGH RETURN ON INVESTMENT(RoI)— As the blockchain technology is still fairly novel and industries are developing new ways to implement it into their systems, the RoI remains reasonably high. You don’t need to spend high sums of money on the blockchain implementation compared to other development methods or cloud platforms. Ideally, the limit to which you can develop and intertwine blockchain with your mobile app development remain solely in the hands of your team.
PENETRATE REMOTE AREAS- there are many underdeveloped areas of the world where people may have smartphones but they lack access to bank accounts. Blockchain technology will make that a point at issue for any user with access to the internet will have the capability of establishing an online mobile wallet where coins and tokens can be stored until needed. This will allow individuals living in backwoods to participate in transactions, obtaining loans and transferring money without being charged unreasonable service fees by banks and other financial organizations.
DATA SYSTEMATIZATION- the robust and resilient structure of blockchain technology protect the system against potential errors, bug fixes, crash or any collapse. The reason for this stems from the ability of blockchain of storing data in multiple blocks which also helps in making blockchain technology reliable. Blockchain can be used in various ways in terms of further app refinement. The more your code expands over time, the harder it will be to track and iterate on, which is why blockchain becomes a necessity rather than a choice.
IMPROVED ADVERTISING MODEL- blockchain will give a new and improved form to the advertising model used by developers. At present, developers are constrained to invest in cost-per-instalment advertising campaigns in order to reach the maximum number of audience. This advertising scheme includes a number of middlemen but now the cost-per-strategy is ready to replace the cost-per-instalment. Cost-per-strategy does not include any middlemen which mean the users will be rewarded with coins which can be utilized to make in-app purchases efficiently.
The reasons blockchain is revolutionizing the mobile app development industry are similar to the reasons it has heavily impacted so many other industries already. It is far better protected against cyber attack. In the coming years, blockchain will transform countless mobile apps and will definitely increase more secure mobile options for all the sectors. This is the high time to realize the truth that blockchain is the single solution for the purpose of the mobile app development project.