Blockchain technology is becoming increasingly popular, and many industries are affected by its use. This technology has revolutionized the healthcare, finance, real estate, and education industries.
The global market is estimated to be worth $20 billion by 2024.
Now, it appears that blockchain is entering the mobile app development segment—cheers to its decentralized architecture, mobile apps, and software developers taking advantage to fix various shortcomings.
Blockchain supports digital currencies such as Litecoin, Ethereum, and Bitcoin, enabling a secure and transparent payment process and reducing the need for a middleman.
It also enables you to keep a transparent and immutable record of digital transaction information and ensures that the data is not altered.
To understand how blockchain disrupts the moveable app development section, let’s look at how mobile app developers benefit from it.
Blockchain revolutionizing offers more data security
One of the main concerns of mobile application developers and users is security.
With data breaches happening on a large scale worldwide, people tend to stay away from apps for fear of privacy invasion.
When applications are developed using the blockchain, it can increase privacy, making applications more secure. Its encryption technique is unbreakable as all data is encrypted and stored with a cryptographic hash.
And because of the decentralized architecture, there’s less risk of third-party apps wreaking havoc.
In addition, every transaction has a timestamp attached to it, making data manipulation and redefinition operations almost impossible.
It is a boon for mobile app developers and end users.
Blockchain revolutionizing brings transparency
The decentralized system records all transactions in the public ledger so anyone can track them whenever they want. It ensures transparency and reduces the risk of fraudulent transactions or fabricated information.
Therefore, the entire system is tamper-proof. Because the solution is scalable, you can quickly scale the number of end users when developing mobile applications using blockchain.
Also, blockchain ensures the security of mobile apps even when you update features.
Blockchain offers high reliability
Blockchain nodes are scattered around the world and synchronized with each other. This ensures that the duplicate copy of the data is replicated to numerous devices in different environments.
Because of its decentralized system, there is less chance of the system crashing or crashing. And what’s more? Because the data is processed in multiple places in each block, it is more reliable.
Blockchain revolutionizing is easy to implement
You can’t deny that developing a new blockchain is tough, but implementing it is pretty straightforward.
When it comes to complex technology, implementation and integration require more time and effort, increasing the cost of developing and maintaining the application.
However, blockchain eliminates the problem as developing blockchain mobile applications is easy. It saves time and ensures profitability for mobile app developers while allowing you to provide your customers with a feature-rich mobile app.
Easy access to tools.
Blockchain tools and processes are easily nearby to developers. In addition, this technology is open source and can suggest changes that may lead to better blockchain implementation.
It can even permanently store data that cannot be modified and accessed anytime, anywhere. Therefore, mobile applications developed with blockchain can significantly benefit financial institutions and transport and logistics companies.
Blockchain will fix issues with in-app purchases
The process required for in-app purchases has always been a problem. Smartphones are rummage-sale by almost everyone today, but many users still lack the income to make in-app acquisitions. And the problem is in the process. Users must make payments using credit cards or other payment methods that are not available to them.
And even if a user has a credit card, there are a fear of being compromised if personal information is shared, not to mention gateway fees, app store fees, card processing fees, and bank transfer fees.
With the current process, developers receive only a tiny fraction of the amount paid for the app.
However, if you use the decentralized blockchain model, you can use App Coins to pay for the App Store. And the designer can take more than 80% share.
Blockchain will also make in-app acquisitions much calmer for users since in-app coins can be rummaged-sale as a payment method in the place of credit cards. Additionally, users can earn in-app currency through a rewards system as developers reward users for making purchases and continued use.