Blockchain– This path-breaking and innovative technology has made its mark in several sectors with its extraordinary features and undeniable advantages. But before that blockchain technology was used for Bitcoin.
Blockchain technology extends its hand in developing and managing cryptocurrencies, other than bitcoin blockchain serves for several other cryptocurrencies.
Now this technology is used in developing various apps and those apps ruling the market right now.
What is a Blockchain?
Blockchain is a allocated and it is fully transparent which makes it accessible to everyone in the network. The data entered into Blockchain is distributed into several blocks and each block has its own hash along with a timestamp.
This makes it impossible for hackers to steal or alter data without the permission of the possessor.
Each and every transaction that process through blockchain is completely safe and sealed with digital signatures and this proves the genuineness of blockchain.
How Does a Blockchain Work?
Every block present in the series carries some amount of data and this data has a timestamp accompanied by a hash of its antecedent block. It is a peculiar mathematical algorithm that belongs to a specific block.
If a hacker wants to steal or alter the data present in the block, then he has to modify each and every hash present in millions of blocks. Therefore it is impossible to go through the data without access.
Using Blockchain for Mobile App Development
Even though we are surrounded with world class technologies and enjoying the ultimate range of technical advantages, there is a prospect that all these technologies might not go side-by-side with all mobile applications. And also if an app that does not deal with transactions it might not need blockchain at all.
Whereas on the other side, people who use transaction related apps or apps related to sports betting or where they need to pay through mobile apps definitely needs the help of blockchain to keep transaction safe and faster. For these kind of apps blockchain technology is a perfect choice.
To know more about this, check out the infographic developed on ‘Blockchain In Mobile Application Market’ by AC Market.