As soon as we talk about the blockchain technology, the next thing which comes to our mind is cryptocurrency. It is the technology that was created to serve as a public ledger for storing all the digital transactions. It is worth mentioning here that the role of bitcoin technology is about acknowledging the usefulness of blockchain technology for the application developers.
However, for defining its utility for the application development industry, there are several mobile apps based on the bitcoin technology or with similar functionality. Though, there is still a long way to go as many new industries are discovering its potential.
Let’s have a look at other ways in which the blockchain technology is impacting the mobile app development industry:
1) Blockchain as a Complex Digital Ledger System
It seems simple to understand the functioning of blockchain as a ledger. However, blockchain is a vast digital ledger powered by an extensive computer network to send and parse the data collaboratively. With a small change in information for an accounting record, that change gets updated to the other machines that hold the same document on the network that, and in this way, the values are adjusted.
Mobile technology also needs this type of systematic approach. As it stands, most of the systems, not just mobile networks make use of a client and server side system. While the phone and mobile app act as a client, the central server distributes the data upon requests. The mobile networks of today comprise of millions of users flooding the channels who try to get the data wirelessly. It can lead to some information loss as well. However, this can improve potentially with more data streaming and advanced storage coming rolling through the blockchain technology.
2) More Transparent and Secure Environment
With blockchain, the transaction activity gets 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 or falsify data. With a record in the blockchain ledger, one can see everything which comes under the process. Categorization and information storage is also tracked, verified, and secured at the same time. With further entries, the blockchain can expand it to add more information. Blockchain stands as a robust verification and balancing system with users having a complete authority.
3) Safeguard Digital Information with Multiple User Access
With the blockchain technology, encryption is also a very complicated process and makes it impossible to dupe the system without a decryption key. Though blockchain lends itself to any system with access to multiple users, it needs verification of adjusted information.
It is certain that the merger of this blockchain and mobile technology will become more widespread with blockchain growing more mature and mobile development acquiring advance techniques.
As a mobile app development company developing custom iOS apps, the blockchain technology can provide you access to consumer protection to an unprecedented degree and confidentiality in all your app projects with the new industry standard for privacy and encryption.