Combining blockchain technology with mobile app development: a range of never-before promises for app projects
Blockchain technology has brought a paradigm-shifting change to many industries, particularly for data security and data management. No digital space can be blind to the revolutionary changes offered by blockchain technology. So naturally, mobile apps across all niches are also utilizing blockchain for enhanced data security, transparency in transactions, and traceability of objects.
Blockchain for mobile apps has so many advantages that they need to be focused on in length. For example, in certain countries like India, small business apps rely on blockchain as a cost-competitive technology for app security. No wonder Indian mobile app developers increasingly prefer blockchain for apps handling security-critical data.
Here, we are going to explain the advantages of combining blockchain technology with mobile app projects.
Ensures optimal app security
Mobile apps utilized by various industry players across diverse niches such as travel and tourism, logistics, manufacturing eCommerce, on-demand delivery solutions, and many others are often used for monetary transactions and purchases. However, these transactions and their corresponding data remain vulnerable to fraudulent attempts like data tampering and data theft.
Blockchain technology offers a highly secure way to protect this data because of its unique advanced data encryption method and a tamper-proof data management protocol that does not allow you to change or remove any data.
Ensures Optimum Transparency
Blockchain technology allows users to keep track of all transactions and data within an app. Maintaining a detailed and time-stamped data registry Blockchain apps completely prevent all sorts of fraudulent transactions and information transfers.
Thanks to this transparency, businesses can easily gain users’ confidence, resulting in a better brand image. The transparent data tracking ability also allows the app to track multiple objects, people, and their activities in real-time.
Easy Maintenance of the Complex Digital Ledger
For any business, maintenance of the ledger systems can involve a lot of expertise and skills. This is where a blockchain-based digital ledger comes in as the right answer to do away with the efforts and needs of rigorous expertise.
By keeping data decentralized through blocks, a blockchain-based ledger can easily analyze and send data in a highly collective and comprehensive manner. The best part is that whenever some changes are made in the system, the same is reflected across all the machines, making data management easier.
Easy updating of the apps
By relying on blockchain technology in app development, companies can also make it easier to unroll app updates in a streamlined manner. The connected blocks managing the app data allow making changes and reflecting them simultaneously in real-time. Thanks to this real-time update, an app can remain updated all the time.
Tracing Items in Real-Time
One of the crucial advantages of implementing blockchain technology in business apps is that it allows both companies and their customers to track information in real-time. The app developers relying on blockchain technology can record encrypted data in a highly traceable way, allowing users to track any data without involving any data-breach efforts. Apart from blockchain-based tracking of objects in real-time through the mobile device, developers can easily trace any app-related issue and address the same with immediate effect.
For certain industries, this real-time tracing capability proves to be tremendously significant. For example, when an app is built for a business in supply-chain management, the blockchain-based app helps the management and users track the entire product pipeline and the product’s journey in the supply chain. In addition, blockchain-based apps can easily relay information about products and their delivery status through updates and notifications for users.
No more vulnerabilities with passwords
Password protection for most apps is subject to a lot of security vulnerabilities and flaws. Since advanced bots within seconds can try millions of password options to break through the app’s security, password protection is no longer considered a great security measure. With the emergence of blockchain-based app security, so-called password security for app users is fast becoming obsolete.
Unlike different security and data protection technologies, blockchain gives complete relief to users regarding insecure transactions and exposure to data or identity theft by simply managing the data in an incorruptible manner that doesn’t require using any passwords. The stronger encryption of the data powered by a public-key cryptographic technology that works like a fully tamper-proof digital signature makes unauthorized access to user data impossible. The cryptographic key works far more efficiently than any traditional password protection.
Enhanced speed and performance
A great thing that gives blockchain technology an edge over other technologies is that apps no longer need third-party mediator tools or platforms for processing transactions. Blockchain technology delivers top-notch app performance and smooth transactions by streamlining the entire transaction process.
Since blockchain allows real-time information tracking and updating of the latest information, settling any transaction and keeping all parties in sync easier for all apps that facilitate mobile transactions, e-commerce, investment, and mobile banking apps can be huge beneficiaries of this technology.
Lower Cost of the Transaction
Blockchain technology allows processing peer-to-peer transactions by validating with cryptographic code and doesn’t need support from third-party tools. The entire layer of intermediary fees and transaction costs can be completely reduced.
Many apps that need to pay considerable money for money transfer charges can now completely avoid this cost component and streamline the cost benefits to the end-users. On the other hand, removing mediators and in-app transactions will also ensure faster transaction speeds and make sales happen quicker.
Conclusion
In all the ways blockchain technology is making an impact on mobile app development, the popularity of the technology across e-commerce and banking apps is already evident. In the years to come, most leading business apps will leverage blockchain technology for mobile transactions.
