Importance of Blockchain for Mobile App Development

Nowadays, a number of business communities are being affected by blockchain technology in many ways because of its numerous features. A blockchain system stores the information or data in such a way which makes it impossible to do changes or hack that system for an unauthorized user.

Blockchain technology provides great security for the users by storing the data on a decentralized network. Because of its immutable nature it  can not be modified or changed easily and thus provides great protection against an unauthorized channel from destroying and editing data.

In the upcoming years, we will see  blockchain in development as an extensively used technology  in multiple sectors as it provides secure data sharing, transactions and  any industry can take advantage of it.

According to Statista,  there will be massive growth in global blockchain technology revenues in the upcoming years, as the market is expected to climb to over 39 billion US dollars in size by 2025.

Today blockchain for business has become valuable technology. A number of participants who have permission can access the same information at the same time, which also improves efficiency. More and more business companies are investing in Blockchain technology to make the best out of it. As mobile transactions are becoming very popular these days, the demands of blockchain based mobile apps are also becoming more popular. As  a result, a large number of app development companies are going for the blockchain as it leads to a transparent system and also enhances app security.

Why companies prefer blockchain for mobile app development

In recent years, Blockchain technology has become increasingly popular. This technology has already revolutionized various sectors of industries. Now it has also made inroads into mobile app development sectors. Because of its numerous features it is mostly preferred by an app developer to create a Blockchain based mobile app.

Reasons why companies are preferring blockchain for mobile app development are:

1. It provides increased data security.
2. The flexible hierarchy of the blockchain based mobile app provides great security against unauthorized and potential attacks.
3. It supports digital currency like bitcoin,litecoin etc and enables secure transaction processes.
4. It allows you to keep records of the transaction which is immutable and also ensures that there will be no tampering of data.
5. By developing blockchain based mobile apps, you can quickly scale the number of end users.
6. It is easy to implement and offers high reliability.
7. As it is open source so you can easily get access to its technology and tools.

Here we have provided the list of top benefits of blockchain for mobile app development :

1. Reliable: Blockchain is basically a distributed database which is shared among the various nodes of a computer network and this makes it more reliable and  also helps in avoiding the chances of collapsing data. As the data in each node gets processed in multiple locations, the chances of blockchain getting crashed or collapsed becomes very less and makes it a more reliable and trustworthy platform.

2. Easy to use and user friendly: In the beginning, Blockchain may seem complex but it is one of the simplest technologies of all the time that you can use. You just need to have the basic knowledge about the blockchain technology and its development to utilize this technology.

3. Cost effective: As we know that blockchain technology is very easy to use, it becomes very easy to develop an app with less time , less effort (implement and integrate) and less cost. This results in a decrease in app development cost and maintenance.Developing a mobile based blockchain app is not a very complicated task but also very cost effective for the developers.

4. Security factor: Today almost every industry is using mobile apps to provide services to the customers such as eCommerce, finance ,traveling and many more. And they also have payment transaction features on their required apps and for this they need the best technology of data security. Blockchain is one of the top technologies that provides high security as it has a top level of data encryption which is not easy to decrypt by the intruders  and thus enhances the security.

5. Increases transparency: Blockchain technology is designed in such a way that it provides high transparency of transactions to the users. Users can easily track every transaction which results in less chances of fraudulent activities.The biggest advantage of this technology is that it eliminates the need of a middleman for online transactions.

6. Benefits of Distributed ledger: Blockchain is also called a distributed ledger,this basically means that the blockchain does not depend on any trusted authority for its operation. It relies on multiple independent nodes for its operation. This technology works as a distributed ledger with the global computer network where all the data is shared and synchronized. If any change is made in any node, then this change will be relayed on the other nodes. Based on the nature of change,it is  decided whether the change will be accepted or rejected.

7. Versatile: The unique design of the blockchain makes it so attractive for mobile app development.Because of its open source nature it makes its technology and tools more accessible. It not only opts for changes according to companies demand but also provides more flexibility as compared to other technologies.

Conclusion

As we all know that blockchain technology is expanding rapidly, and It also has a great impact on mobile app development. Because of its number of  features it is opted by a number of app developers. With the emergence of Blockchain technology, mobile app development services have risen to new heights. By far blockchain technology is one of the most secure technologies against cyber attacks. Everyone has realized the importance of blockchain technology whether they are from the top mobile app development companies or an independent developer.