Uploaded on Jun 1, 2020
Blockchain technology is becoming a mainstream technology. Its rapid development and intervention across different segments are going to change the way the business operates. When we talk about the different use cases of Blockchain technology, then it's widespread. One of the use cases that we will be discussing in this blog is its use in mobile apps.
Top 7 Benefits of Using Blockchain Technology For Mobile Apps
Copyright © Blockchain Council www.blockchain-council.org 1 Top 7 Benefits Of Using Blockchain Technology For Mobile Apps Blockchain technology is becoming a mainstream technology. Its rapid development and intervention across different segments are going to change the way the business operates. When we talk about the different use cases of Blockchain technology, then it's widespread. One of the use cases that we will be discussing in this blog is its use in mobile apps. Copyright © Blockchain Council www.blockchain-council.org 2 Advantages That Blockchain Can Bring The Domain of Mobile Apps: 1. Enhances security- One of the prime concern for any digital platform inclusive of mobile apps, the security of data is imperative. Blockchain is used for developing decentralized applications, and a similar protocol can be used for mobile apps that will work on the Blockchain platform. Blockchain comes to the security of data, which is beneficial for mobile app users and creators. Copyright © Blockchain Council www.blockchain-council.org 3 2. Enterprise-Ready Mobile- The process and tools used for developing Blockchain are easily available, and developers can use these tools. Since Blockchain is an open-source technology, developers can suggest changes that make the Blockchain technology better and its implementation seamless. In the coming years, we can expect the government and enterprises to use Blockchain. Copyr ight © Blockchain Council www.blockchain-council.org 4 3. Simplistic Use- One of the advantages of Blockchain is that it is easy to use. The system is much simpler than other technologies, thus making it easy for the developers to use it and create apps. Copyright © Blockchain Council www.blockchain-council.org 5 4. Transparency- Another notable advantage that Blockchain has to offer is transparency. The Blockchain records every transaction in a public ledger, which is easily traceable. Thus making Blockchain technology a transparent platform. This transparency feature removes the probability of any fraudulent activity. Moreover, every data is stored cryptographically; there is a lesser probability of tampering or altering the data. Thus making it absolutely safe. Copyright © Blockchain Council www.blockchain-council.org 6 5. Benefits of DLT System- We all know that Blockchain works on the DLT system, which is powered by an extensive global network of computers. If any change is made, then a similar change is reflected on machines having the same ledger. Based on the nature of change, the system can approve or reject the change. This DLT network works as the server for clients, and mobile applications work as a client of these services. Blockchain developers will have more storage and enhanced data streaming. This will eventually improve the system. Copyright © Blockchain Council www.blockchain-council.org 7 6. Lesser Cost- One of the prime concerns for any business is to lessen the cost. With Blockchain, you can get this benefit. Since technology eliminates the need to have a third-party, there is no intermediary. Also, there is lesser or no need to review the documentation as everyone gets permission to access to single and immutable version Copyright © Blockchain Council www.blockchain-council.org 8 7. Better Reliability- You can surely trust the Blockchain system. Since the interacting parties connect directly with each other, and the data is absolutely safer, you can trust the system. Since technology is decentralized, there is less or no probability of losing the data because of errors in the server. Mobile apps can take advantage of the same. Cop yright © Blockchain Council www.blockchain-council.org 9 Conclusion- All these sets of advantages will make mobile apps more robust and free from any attack. Thus Blockchain technology can prove beneficial for mobile app developers. If you wish to know more about this technology, then it's time to connect with Blockchain Council today. Copyright © Blockchain Council www.blockchain-council.org 10 Top Ethereum -Based Applications Before we discover the challenges, let’s have a quick look at the top Ethereum- powered applications. GitCoin, an Ethereum based platform, pays individuals for working in an open- source software like Python, Java, HTML, etc. KYC-Chain allows organizations to verify their customer’s identities and managing the whole customer lifecycle. Copyright © Blockchain Council www.blockchain-council.org 11 Cent, a user-friendly app, follows a slogan ‘earn income anywhere.’ This Ethereum-based app offers individuals an income-generating social network by creating content, sharing their views, and much more. Vevue, an Ethereum app, monetizes all forms of engagements, thus offers unlimited possibilities to users to earn money. With this platform, people can place requests for videos and encourage them to share short videos and make money. Copyright © Blockchain Council www.blockchain-council.org 12 Challenges With Ethereum Infrastructure Although Ethereum is full of possible applications, designing its infrastructure comes with its own set of challenges. Apart from the problems mentioned below, scalability, flexibility, dealing with block times, parity issues are also the concerns that one has to deal with while building Ethereum infrastructure. Let's have a look at the major issues. Copyright © Blockchain Council www.blockchain-council.org 13 Wallet Initialization- A Prima Concern Just like Bitcoin networks that suffer from backlogs, Ethereum is no more an exception. Wallet initialization is the prime concern because if contract creation transaction is stuck somehow, but the user started sending another transaction at the same time, then it will be impossible for the Ethereum to fire appropriate contract events. Copyright © Blockchain Council www.blockchain-council.org 14 Smart Contracts Difficulties Debugging smart contracts while using the Ethereum platform is complicated. This is because it is hard to find out where the transaction failed. Copyright © Blockchain Council www.blockchain-council.org 15 Connecting Ethereum Requires Manual Efforts For Connecting Ethereum with the rest of the world, it requires manual effort, which indicates it adds a burden at the developer end. Moreover, Ethereum developers have to set up the whole infrastructure via separate Ethereum nodes that lead to unseen hazards. Copyright © Blockchain Council www.blockchain-council.org 16 Conclusion To conclude, we can say that Ethereum has the potential to revolutionalize the way we interact with the world. But to accelerate widespread adoption, it is crucial to eliminate the challenges that Ethereum is facing. Technical inefficiencies (as mentioned-above) need to be eradicated to build a perfect infrastructure. To get instant updates about Blockchain Technology and to learn more about online blockchain certifications, check out Blockchain Council. Cop yright © Blockchain Council www.blockchain-council.org 17 Blockchain Council Certifications You can check out our certifications, and kick start your career in the Blockchain space today. ● Certified Blockchain Expert ● Certified Blockchain Developer ● Certified Smart Contract Developer ● Certified Solidity Developer ● Certified Ethereum Developer Copyright © Blockchain Council www.blockchain-council.org 18 THANK YOU! Any questions? You can mail us at [email protected] Copyright © Blockchain Council www.blockchain-council.org 19
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