If we have to give a simple definition to Blockchain, then it can be defined as “a series of blocks which store data” that is called blockchain technology. The method is planned to record the timestamp of digital documents so that hackers won’t be able to change or tamper their details.
The Internet has a major role to play in the execution and application of blockchain technology, and it’s completely working with the help of the internet. This is also known as meta-technology as it influences several other technologies. It is a combination of various other constituents like software application, a series of connected computers, a database, etc.
Sometimes this term is also used for Bitcoin Blockchain or the Ethereum Blockchain and also for various other digital currencies or tokens. One common point among all these is that they are all based on distributed ledgers.
Let’s discuss why Blockchain technology has become so popular?
Resilience: Blockchains are often duplicated architecture. The chain is still controlled by nodes that protecting the chain from a massive attack like hacking, alteration or data tampering.
Time reduction: Blockchain technology does not have a lengthy verification process and this makes transactions faster than never before.
Reliability: Blockchain verifies and accredits the identities of the interested parties. This eliminates double records, minimizing rates and fastens transactions.
Take any field it can be retail, finance or any other industries, all these started moving towards adopting blockchain and in the future, it will help in designing and developing countless mobile applications.
However, combining blockchain technology with your app is not as easy as it appears to be. To build a blockchain-based app you would need a developer or a team of developers who are expertise in blockchain technology and mobile app development. (Check out this guide of the 12 Most High-Demand Blockchain Jobs in 2019).
But once you get succeeded in finding the right ones for your project, it will become easy for you to set up your app and overtake your competitors.
To give you detailed knowledge of “Blockchain In Mobile Application Market”, AC Market has designed an informative and interesting infographic.