Blockchain technology is based on the chain of transaction blocks and the information related to these transactions is updated on all devices in the world simultaneously. In other words, Blockchains may be considered as an automatically notarised ledger. Using this technology, no middlemen or regulatory parties are involved in ensuring the authenticity of transactions, and it can only be confirmed by the parties involved and organised through communication of smart electronic devices. So, you don’t need a trust service provider any longer and can keep away from capital being tied up in disputes!
Why is Blockchain app development being hyped?
Multiple areas can be integrated with this technology. Existing business models may be disrupted by the markedly lower-cost solutions instantiated using blockchain applications. Digital transactions in businesses processes can be made more accessible using new methods through blockchain protocols. The chances of financial fraud and systemic risk are reduced by using blockchains. They make it possible to do the time-consuming processes done manually earlier to be automated.
Examples of the use of blockchains include a payment system and digital currency, generic governance tools, instigating prediction markets, simplifying crowd sales, collecting taxes, and conducting conveyancing.
Importance of building smarter mobile apps on the Blockchain
The advantages of blockchain apps that make transactions much easy and unmatchably safe, absolutely decentralised, and fully anonymous make it a suitable technology for stock market trading and various other industries. These include banking and finance, insurance, fintech, jewellery business, healthcare, medical services, eLearning, travel industry, gaming, smart assets, online shopping portals, digital voting, digital identity management, distributed cloud storage, transport and logistics. It can be used to create a decentralised public database which guarantees that all transactions are conducted and recorded correctly.
Developer tips for developing Blockchain apps
The increasing popularity of blockchain apps has led to an increased demand for building smarter mobile apps based on blockchain technology. However, it is hard to develop blockchain applications and even harder to make them secure. Blockchain developers who are well-versed with this skillset are still in shortage in the industry. Thus, more people are needed for building the new decentralised internet. This is possible by using the right tools and setting up the right standards to lower the barriers to entry to new developers. Here are a few tips for Blockchain app developers to make the smart app development easy.
Be well-versed with the purpose and utility of Blockchain for a particular business
As Blockchain works by keeping records of the history of transactions or asset transfers in the form of blocks. These blocks are then linked with each other through a cryptographic validation called hashing function to form a hash-linked chain. Thus, to develop a smart mobile Blockchain app, you need to use a transaction and ledger model. This fosters transparency, trust, and accountability throughout the network.
Take advantage of Blockchain open source
For easy and quick Blockchain app development you can deploy open source platforms that need minimal experience to start off. Various open source blockchain platforms are available for facilitating the development of such apps Like Eris, HydraChain, MultiChain, OpenChain, OpenZeppelin, BigChainDB, Ethereum, Elements Blockchain Platform, Quorum, Stellar, Hyperledger.
Other Blockchain platforms include Chain Core, Corda, Lisk, Credits, Domus Tower Blockchain, Symbiont Assembly, Chain, IOTA, Microsoft Azure BaaS.
Maintain relevancy
New technologies evolve very fast. Make sure to upgrade your skills constantly. Not only is there needs to upgrade your education but you also need to participate in digital conversations online through social media profiles or panel discussions.
Features of some popular Blockchain app development platforms
Eris
Big time free software
Allows the app to be created and run, secure, low-cost applications from anywhere
Features can be turned on and off
Helps to directly develop a group of a permission chain for the individuals.
Can analyse the complete action in a step by step manner
HydraChain
Most compatible with the Ethereum Protocol
Helps create a Permission app which is attached to the
MultiChain
Helps companies design, implement, and operate Distributed ledgers instantly
Supervised with the support of permission
Deployment in this chain is instant
Bitcoin compatible and extendable
OpenChain
Open source distributed ledger technology
Real-time ledger providing free transactions with a high scalability
Suited for companies that want to manage their digital assets in a robust and flexible manner
Instantized within seconds
Administrator of an Openchain instance defines the rules of the ledger for end users
Every transaction on the ledger is valid through a digital signature
Stands alone and maintains its privacy due to decentralisation
Secure platform with unified API
OpenZeppelin
Open-source framework
Provides secure, tested and audited code
Developers can use its vetted modules to build secure smart contracts
Modules issue tokens and define the rules of underlying systems
Conclusion
Being able to write executable code blocks into a Blockchain development that involves writing executable code blocks is a significant advance but is still in its early days. However, a mobile app development company needs to keep in mind that the existing Blockchain app development platforms are still undergoing upgradations and newer platforms are coming to the fore to make this field open and exciting for developers. Thus, there is great scope for further innovation and experimentation in the Blockchain app development sector.