Blockchain Technology: Reshaping the Future of Mobile App Development

2020 is the year of challenges. From a global pandemic to markets around the world collapsing, it has been quite a journey. But if there is a market that was not really affected, it’s the app development industry. In fact, active app installations saw an all-time high as countries went into lockdown

With so many emerging trends that are doing the rounds in app development, there is one particular trend that has a long way to go. We are talking about Blockchain Technology! Blockchain is the buzz word you must have heard now and then. This technology has already made its debut in industries like healthcare, real estate, and education. Now it’s slowly making its way towards app development. And for good!

 

What is Blockchain? 

Blockchain is basically a digital record of transactions. The term is derived from its structure, where individual records called blocks are linked together in a single list known as a chain. It was created by Satoshi Nakamoto, a pseudonymous person or group of people, who also developed the famous bitcoin. It makes a transaction streamlined by making it visible to the users leading to increased transparency, faster and safer transactions.

 

Incorporating Blockchain in mobile app development

Although blockchain is a great way to make your app more appealing, incorporating it might take some work. The following are a few points to keep in mind while working with blockchain.

  • Is your app suitable for blockchain? The blockchain technology might not work in all types of apps. Besides, if you are developing an app with content and no active transactions, blockchain is not even needed. The types of apps in which this tech can be incorporated are apps for exchanging cryptocurrencies, electronic wallet apps, digital asset tracker apps, or retail apps. 
  • Are you considering key technologies? It is important to have an in-depth understanding of different constituents such as blockchain platforms, networks, programming languages, etc. 
  • How to implement blockchain? To start with, it is really important that you choose a suitable consensus method for your app. This ensures the security of your blockchain. Then choose a configuration for your design architecture. And lastly, it’s time to develop the UI and admin panel for your blockchain app.

 

 

How is Blockchain reshaping the future of app development?

Blockchain technology comes with a variety of benefits that all industries can take advantage of. Besides, it can also help with certain shortcomings that the app development industry has faced in recent times.

  • Promotes Transparency

Blockchain is useful in making the process of app approval transparent. Today the two major app stores, Apple Store and Play Store make their own decisions when it comes to app approval. Their sets of rules are undisclosed and sometimes unfair for the new developers. Blockchain will eliminate this system and by consulting a decentralized public ledger and user ranking, it will bring in complete transparency.

  • In-app purchase issues solved

Blockchain will bring in the concept of app coins, thus solving the issues related to in-app purchases. As we all know, in-app purchases come with issues like the possibility of potential frauds, gateway fees, card processing fees, app store fees, and bank transfer fees. This leaves the developers with so much less amount than it took to develop the app. App coins will help both developers and users. So while the developer gets his fair share back, the users will no longer be required to make payments through cards, etc.

  • Rewards enhancement

Through blockchain, the rewarding system will improve. Users now will be able to make the most out of their loyalty to a particular company. The company in return will provide them with tokens that they can redeem in return for certain services and offers.

  • Improved advertising

Currently, the advertising model works on a cost-per-installment strategy. This means there are a lot of middlemen that cut short the return a developer gets. Blockchain technology is designed to advertise on the cost-per-attention approach. This will reward the users for the time they spend on the app and eliminate the middlemen for the profit of developers.

  • Reach remote areas

Blockchain technology will allow users in the most remote locations to indulge in eCommerce transactions. There are still some places where people might have smartphones but they do not have access to online transactions. Blockchain will make it possible for them to do transactions including coins and tokens. Thus, eliminating the need for credit cards or online banking.

 

Final words

Blockchain is the future of digital transactions. Incorporating it in the app development will make it 100 times more secure by canceling the possibility of cyber frauds and attacks. If you are thinking of developing an app that involves digital transactions in any way, blockchain is your holy grail. 

Connect with us at contact@applify.co to know more about this technology. Our team of experts is always ready to guide you through the process of your dream app.

Vaishali Uniyal Written by:

Vaishali Uniyal is a content writer. She is also an avid reader and a mental health advocate with a dream to travel every nook and corner of the world.

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