8 Reasons Why Blockchain Technology Can Be Beneficial For App Development
- By Sameer Mehta
Blockchain Technology is recognized as the most dynamic and secure technology ever built. This technology supports a wide variety of applications and functionalities. This technology has evolved to a greater extent, since Bitcoin was introduced in 2008.
Developers and app development companies are looking for ways to integrate Blockchain technology into their projects. Here are 8 reasons why:
1. Improved App Security: The major advantage of using Blockchain technology is that it makes your application safer with strengthened encryption. While hackers can tap into conventional networks and locate all the data in a central repository and decrypt or corrupt it, the Blockchain technology makes this almost impossible.
The data is decentralized, secured, and cross-checked across the entire network. It is almost impossible to manipulate or erase a record, once it is on the ledger, without being noticed and the signature being invalidated.
2. Makes your App Reliable: Since the structure of Blockchain is reliable itself, it improves the reliability of your application significantly. It prevents your application from collapsing or crashing as the data is not stored in a single place and is distributed among many blocks.
Blockchain nodes are dispersed globally and aligned with each other, ensuring that the same block of data is replicated through numerous devices present at multiple locations. These features of Blockchain make it extremely reliable for app developers.
3. Maintains Transparency: Blockchain records any public ledger transaction which allows users to monitor the transaction whenever they want. Thereby, increasing transparency and eliminating the possibility for any fraudulent transactions or information fabrications.
Blockchain allows every person who is a part of the network to track all the changes, data and other transactions in real-time. Thereby making it easy for anybody to make an audit.
4. Simple Technology: While sophisticated and complex technologies require more time, money and efforts to integrate them with your mobile application, Blockchain is far more simpler than most of the technologies available.
Blockchain helps in reducing app development costs and allows developers to come up with a feature rich mobile application in no time. In short, it is easy to integrate Blockchain with your application as it is a simple technology as it much more feasible technically and financially.
5. Keeps your App updated: It is no secret that Blockchain technology is developing at a fast pace. As a result, your mobile application will be all-set to meet the future requirements and provide a better experience to your users. The Blockchain technology is Open Source and developers with advanced coding knowledge can contribute to the platform and suggest updates to improve the Blockchain technology.
By integrating Blockchain into your application, you are not only choosing a technology which will stay relevant for years to come, but will also be subject to major changes and improvements.
6. Allows Cloud Storage: Blockchain cloud storage solutions take data from the user and split it into small parts. They then add an extra security layer and distribute it across the network.
This is enabled by Blockchain features such as hashing function, transaction ledgers and public/private key encryption. Every part of the data is stored in a decentralized area.
Several new businesses have jumped into this emerging cloud storage market for Blockchain and the whole industry is taking on a new shape.
Blockchain is the newest and potentially the cheapest way to get cloud storage, as many small organizations participate in cloud storage by supplying data storage with their computing power and space. Consequently, cloud computing costs are reduced and all participating organizations can get paid.
7. Easy to Understand: The first question that comes to mind for a lot of people when using a new technology is if it is easy to understand. Being a relatively new technology, Blockchain is pretty easy to learn.
Blockchain technology comes with an integrated application development environment, and provides programmable and customizable features that can help you save time and money.
Both of these features and many more, make the Blockchain ecosystem simple to understand and use when it comes to developing mobile applications.
8. It is Open Source: Most technologies available globally are strictly controlled by businesses and organizations, however, Blockchain is a purely open source development platform that gives developers and creators an opportunity to innovate.
Being an open source technology makes Blockchain beneficial as developers can use the latest technology to bring in new and improved updates, release them within a short processing time, while also keeping this whole process highly efficient and cost-effective.
In conclusion, the above points show how advantageous it is to utilize Blockchain technology for app development. Since Blockchain technology has room for innovation, developers globally will make it an indispensable part of their app development projects. You can always consider outsourcing your development project to a good App Development company who have the expertise to integrate Blockchain technology into your applications.