Blockchain technology has been around for over ten years, and it’s now showing its influence over a wide range of industries and technologies. Software development in particular is adopting blockchain to improve many functions, especially in the case of mobile apps. Here’s how:
Transaction and Data Security
The decentralized nature of blockchain ledgers makes them almost impossible to falsify or interfere with. This makes blockchain perfect for mobile apps that deal in transactions of any kind, from banking to money exchange to online shops. Since all transactions are available to view, organizations can monitor the blockchain to check that all data is being handled correctly and is up to date.
Blockchain used to be an obscure technology, and it was hard for companies to find a competent blockchain developer. This is no longer true, and one reason why more mobile app products integrate blockchain is that teams of expert blockchain developers can be hired to build, launch, and maintain the products at a competitive price.
Better In-App Purchases
Most mobile apps rely on in-app purchases for monetization, but they also pose a major security risk. A central server containing financial information can be hacked, losing revenue for the company and damaging its reputation among customers. Storing this data on a blockchain greatly reduces this risk.
Whether it’s an online store, a multiplayer game, a messenger app, etc., mobile apps need to store login credentials such as usernames and passwords. Security and privacy for this is especially important, as a leaked set of login credentials can compromise users across a wide variety of systems if each one is not completely unique. Managing this data on a blockchain can keep it safe as described above, but NFTs can also be used to create unique IDs.
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