How Blockchain is Reshaping the Future of

Mobile App Development?

Over the past few years, Blockchain has emerged as a revolutionary

technology for a wide spectrum of industries and mobile app development

is no exception. With amazing features like a distributed digital ledger

system, peer-to-peer payment architecture, keyless security infrastructure,

and a decentralized system, it has benefited the mobile app industry in

several ways, making it possible for developers to build mobile apps that are

free from frauds, data leaks, and security threats.

However, given that the implementation of Blockchain in the mobile app

industry is still in the initial stage, the possibilities of how top mobile app

development companies can unleash the full potential of this

game-changing technology are endless. So without any further ado, let's

take a look at a few ways Blockchain is gradually transforming the world of

mobile app development.

Enhanced Data Protection

Impenetrable Security is what Blockchain is known for. Allowing developers

to add multiple protection layers to their data and letting them assign

private keys to the users, it makes nearly impossible for anyone without a

decryption key inside or outside of the network to manipulate users’

transaction specific data.

Moreover, being a decentralized system, Blockchain keeps a replica of the

database across a network of computers, which eventually reduces the risk

of data loss to the fullest extent. In a world, which is full of hackers and

where protecting sensitive data is quite a challenging task, Blockchain

indeed offers mobile app developers a golden opportunity to protect users’

data against fraudulent and unauthorized activities.

Greater Data Transparency

The Blockchain technology uses a series of interconnected blocks where

each block contains transaction data and a timestamp for the prior block in

the Blockchain. Providing each individual associated with the system

real-time access to their data, Blockchain makes it impossible for any single

entity to tamper with the data in a particular block and go unwatched.

Since the main objective of the Blockchain technology is to facilitate users

with a permanent, public, transparent digital ledger system, no

manipulations to the data are hidden to any member of the network.

Everyone can see who sent/modified what and when, and that too without

exposing any personal information. This not only eliminates the need for the

middleman but also ensures full transparency in transactions.

More Secure Mobile Payments

With an advanced and decentralized peer-to-peer network, the Blockchain

technology ensures faster, secure, and more reliable contactless mobile

payments. Many developers are today leveraging the power of peer-to-peer

mobile payments for their applications since they along with being more

secure are more affordable to both establish and maintain. Additionally, the

availability of hundreds of thousands of devices or so-called nodes

eliminates the chances of an outage or downtime because it’s unlikely that

all the nodes would crash at the same time. Most importantly, high-level

security makes users feel more confident about using the mobile app.

The Protection of Mobile App Infrastructure

By allowing developers to store DNS entries on a secure, decentralized

platform, Blockchain completely eradicates the risk of hack to the mobile

app development infrastructure. Since the Blockchain technology offers

developers a completely transparent and distributed DNS, they have full

control over their domain records which cannot be modified without their

permission. In other words, nobody, including the government itself, can get

into the system without the consent of the involved parties.

Since Blockchain uses a Keyless Security Infrastructure (KSI) to store all the

data in form of a cryptographic hash and run a hashing algorithm for

verification, any manipulations to the data can be spotted in real-time as the

original hash object is always available on other blocks in the chain, ensuring

the maximum protection of the mobile app infrastructure.

The End of Traditional Passwords

Where other technologies make use of a problematic password-based

system to validate users' account credentials, Blockchain doesn’t require

users to enter a password for the same. With the help of this innovative

technology, mobile app developers are able to validate users, devices, and

transactions, even without asking for a specific password.

Since Blockchain-based authentication systems are built on the top of an

irrefutable, immutable, incorruptible, and highly-secure identity verification

system that uses digital signatures based on public-key cryptography, a

private key acts as a master password to unlock all the digital assets for the

involved parties. This facilitates a seamless sign-on as well as eases the

transaction process for mobile app users.

Improved Product Traceability

With the help of Blockchain technology, mobile app developers can record

everything in such a way that any information can be easily tracked in

real-time by its users. The whole Blockchain system is designed in such a

manner that one can easily locate an issue and fix if there is any. As an

example, if you're developing a mobile app for supply chain management,

you can take advantage of the Blockchain technology to track the entire

journey of a product from manufacturing to sales. On the other side, end

users can use a Blockchain-powered mobile app to access transaction details

such as product serial number, specifications, available quantity, shipment

notifications, etc.

Increased Efficiency and Speed

One of the best things about the Blockchain technology is that it doesn’t

require a third-party mediator to complete a transaction. By streamlining

and automating the entire process, it fosters faster and more efficient

transaction settlements. According to various reports, Blockchain-based

transactions are 10 times faster than the usual bank ones.

Where a traditional bank takes a few days to completely settle a transaction,

on the other hand, Blockchain-based transactions take just a few minutes to

complete. Also, the Blockchain technology is open for transactions

twenty-four by seven, which considerably reduces the overall transaction

processing time.

Reduced Cost Per Transaction

As mentioned earlier, since the Blockchain technology processes

peer-to-peer transactions without the involvement of a third party or

middlemen, there are no intermediaries’ fees to ensure guarantees. Instead

of paying a fixed money transfer cost to a third party, which is often a bank,

you just have to trust the Blockchain technology to get the transaction

completed. Thus, the eviction of mediators results in reduced transaction

costs for both businesses and users over time.

CONCLUSION

These are just a few ways how Blockchain technology is impacting mobile app

development. However, given the unmatched transparency, efficiency, and

security that Blockchain provides to developers, we can say that it definitely holds

a bright future for the mobile app development industry. To conclude, this

breakthrough technology is not only helping developers build highly secure and

transparent mobile apps but also opening up a whole new world of opportunities

for both mobile app developers and end users. And to do so, hiring one of the

best blockchain technology companies will play a significant role in assuring

reliable guidance on how to make wise use of the blockchain innovation for

mobile apps.