Blockchain technology ever since it appeared through cryptocurrencies, continued to become popular and over the years it penetrated different industries ranging from finance, healthcare, real estate, retail, education, to administrative services. Blockchain basically represents a decentralized database technology with end-to-end data encryption and verifiable data transfer through secure keys.
Now with complete security from all kinds of data tampering efforts, Blockchain technology seems to be unstoppable in bringing era-defining changes to mobile app development. In a multitude of ways, Blockchain is going to revolutionize the app world. Here we explain a few of them.
Blockchain to Solve Issues Concerning in-app Purchases
A key issue often creating problems for the app users concerns the in-app purchases. Despite the fact that lots of people all over the globe have smartphones, many of these users do not have access to means for in-app purchases just because of the constraints with payment methods such as credit cards, PayPal, etc. There are also complications and risk perceptions for availing these payment methods.
The decentralized database model of the blockchain will allow people to use app coins for purchasing apps and for making in-app purchases. Most importantly, the major share of the app budget because of this method will reach the actual developers of the app.
Blockchain for Better Advertising Model
In-app ads are great revenue generators for most app projects irrespective of the niche. Now, often these ads are detrimental to the user experience or not sufficiently successful in converting business. This is where a Blockchain-based advertising model will revamp the scenario completely.
The biggest advantage of Blockchain-based advertising lies in the manner so-called middlemen and intermediaries can be avoided and the ways revenues can be shared in a more straightforward manner. On top of that, some portion of the revenues can be directly shared with the app users and help them become satisfied.
Awesome Data and Network Security
Blockchain data is completely tamper-proof for the sole reason that it does not allow overwriting, deleting, or corrupting data. Every subsequent data added to the database will be registered as additions without changing the core database. On top of that, the entire database remains protected by end-to-end encryption making data tampering literally impossible.
Mobile apps remain most vulnerable to all sorts of security threats and data breaches including malware corruption and hackers. Blockchain technology can challenge all these security threats and vulnerabilities head-on. The decentralized database from now will allow developers to store DNS entries more securely and without any scope of modification for the data.
On the other hand, the Blockchain-based cryptographic hash algorithms will enforce a robust verification process to track any data manipulation in real-time.
Enhance Security for Mobile Transactions
Mobile payment and mobile transactions are often targeted by hackers and various malware threats. Dealing with sensitive financial and personal data of the user’s mobile transactions and mobile payment always needs a higher level of security protection. This is where Blockchain technology play’s a really effective and efficient role.
Thanks to Blockchain technology transactions can be carried out on a peer-to-peer network with cryptographic key-based verification ensuring robust security as well as faster payment. App developers can easily establish and deploy peer-to-peer payment methods by integrating blockchain-based payment solutions with the respective app.
Tracing Products in Real-Time
Blockchain as the decentralized database technology empowers both the business users as well as the developers and allows tracking data in real-time. By allowing to track Blockchain encrypted data without exposing the data to unsolicited users, it offers a balanced approach with both security and accessibility elements.
This Blockchain-based tracking of goods in real-time can be particularly helpful for supply chain and logistics solutions as well as industrial apps where real-time tracking can save huge inventory management costs.
Thanks to Blockchain-supported database networks comprising hundreds of data nods, companies dealing with product supply chains can actually trace and locate each and every product along with minute details in real-time. This will bring a revolutionary shift to industries that just started to rely on app-based tracking for increased efficiency.
Better Protection than Passwords
The so-called secure protective measure of using multi-character passwords for authentication and verification is going to be a thing of the past because of Blockchain technology.
Since most sophisticated bots can send millions of server requests with different combinations of passwords and can often be successful in breaking this feeble layer of security, passwords are now obsolete as security protection.
The Blockchain-based verification and authentication process in this respect brought a paradigm-shifting change to app security. Since Blockchain data remains incorruptible and completely tamper-proof because of its “write-only” root il and robust encryption, apps can enjoy the most powerful security cover for data by using Blockchain technology.
All these benefits that provided blockchain technology such as era-defining the potential for revolutionizing mobile app development can easily be explained by the principal concerns of most app projects. The concerns like security, data transparency, data access, and user experience are all given a new boost through Blockchain technology.
The technology offers everything that is required to address the most common concerns of mobile apps across the niches. There can be No doubt that the future of mobile apps is unthinkable without the mention of Blockchain technology.