The latest buzzword in the mobile app development industry is blockchain. Originally devised for the digital currency bitcoin, the blockchain technology is gaining a lot of popularity in the app development sector. Casinos of the future offering games like RTP slots will also be using blockchain to verify transactions. Keep reading to know how this innovative technology is reshaping the mobile app sector.
A more secure environment with blockchain
Blockchain is one of the most secure and transparent types of technology that we have discovered till now. It tracks every single transaction and tracks every byte of data sent and received within the chain. This means that the chances of hacking a blockchain network are equal to zero. Introducing blockchain in mobile apps will allow users to track every single transaction on the network and reduce the possibility of accepting fake payments. Users of the network will get quick access to update notes and development logs anytime. Blockchain also helps in tracking, securing and verifying the information storage. Having a mobile app with blockchain integration can be beneficial in many ways for the users.
Protects digital information with multiple user access
Safeguarding digital information is of great concern to mobile app developers. Blockchain technology has a solution for this security issue. Blockchain uses cryptography that prevents any third party from viewing private data. It uses cryptography for securing wallets, transactions and privacy-preserving protocols. Any user without the decryption key cannot access your app. This indicates that your mobile app and sensitive data can never be hacked or modified without your permission.
The system assigns both the public and private key to the stored data. The first key is known only to the user and it protects the identity of the data owner. The private key is to reveal for the developers to know who they are providing their services. Also, there are permission levels to access the data.
Improved advertising model
Blockchain helps developers in acquiring data and enables them to target their advertising to the right users. For example, BitClave offers a token to the users who add their data to the blockchain network. Businesses can acquire the data provided by users from BitClave and target the right audience. Use of blockchain in the advertising sector will enable developers and advertisers to buy and sell ads with few intermediaries.
Buyers and sellers can outline their terms in a smart contract by using blockchain technology. The smart contract can be subjected to additional layers of verification by optional service providers on the network. The developer is responsible for releasing payments to advertisers as contract terms are met. Hence, there are no chances for developers being cheated by fraudsters.
Blockchain has the ability to help developers in fixing any potential errors in their code. It also protects the system against bug fixes, crash or any collapse. As blockchain has the ability to store data in multiple blocks, the network is quite reliable. Blockchain assists developers in tracking every technical issue and expanding the code without any difficulties.