Cryptocurrencies seem to have permanently settled in the headlines. The bitcoin rate is breaking records faster than athletes at the Olympics. The number of people in the world, who haven’t heard of the new hype, is becoming smaller every day.
While regular cryptocurrency users are choosing the best crypto-wallets and looking for ways to earn more money, entrepreneurs and developers are inventing new ways to use blockchain technology. Today the various advantages of blockchain are becoming more and more obvious. From blockchain lotteries to safe banking, cryptocurrencies are definitely here to stay.
What Is Blockchain?
The blockchain is a technology that allows storing records and/or transactions using a system of distributed ledgers. Every link involved in the blockchain holds its own copy of the information. The data is stored in a chronological order. It’s virtually impossible to change thus eliminating the fraud factor. The information on the ledgers is available to the public. The most famous blockchain is the one used for bitcoin. However, there are many of them all over the world.
Some experts are contemplating the bubble nature of the bitcoin. While users hope it doesn’t burst anytime soon, some predict its nearest failure. In any case, even if bitcoin won’t realize the expectations of its fans, blockchain technology is not going anywhere. The number of cryptocurrencies is growing. The transparency and lack of geographical connection makes using the technology extremely appealing and impressively convenient. But what does it all have to do with mobile applications?
If you are a mobile application developer, you already know how important blockchain is to the future of mobile apps.
New Payment Options
Blockchain makes payment fast and transparent by eliminating the third party. In the nearest future, all mobile apps are bound to incorporate this technology. While being very appealing for B2B deals, P2P transactions will also benefit from blockchain integration. Some people believe that blockchain can disrupt financial markets. But this is mostly true for the institutions that have something to hide. The transparency and decentralization of the blockchain technology takes the fraud factor out of the transactions, making them much more appealing.
Mobile apps with blockchain technology will be highly valued by people in the countries with shaky economies. Being able to transfer the money without fear of losing it regardless of the location is a big advantage.
iOS Is Leading The Way
Today iOS 10 allows blockchain payments due to the partnership with Circle. This is a big step forward in the world of cryptocurrencies and social payments. You can take advantage of iMessage to send the payments. For many mobile app developers, this doesn’t come as a surprise. Blockchain technologies are bound to make a revolution in the cyber payment systems.
Mobile app developers can use blockchain to ensure all the information shared by the consumers within the app is safe. In fact, some companies view P2P payment platforms, which use blockchain technologies, as a new industry standard for client protection.
Mobile app developers are constantly looking for new ways to integrate blockchain technologies in the existing and future projects. Following blockchain development closely, getting proper advice, and taking advantage of ICO can help stay ahead of the game.