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Blockchain: Everything Mobile App Developers Need to Know

Introduction

It is pretty exciting times when it comes to mobile app development because there are so many interesting trends going on and we are going to see more applications that have these things in them. Having said that, there is a new technology on the block and it is called “Blockchain.” What is this technology all about?
Well to put it simply, Blockchain technology allows for data distribution but that same information cannot be copied by anyone else other than the distributor. This technology was originally used for Bitcoin, a popular cryptocurrency. Because Bitcoin is said to be the “money of the future”, people have devised a way to increase its security, especially when you are trading online. However, people nowadays make use of the technology for something else, which is also precisely the reason why we are going to see mobile apps in the future that will use this particular technology to good use. Below are just some examples of Blockchain technology in action:

1. Creating a Digital Wallet for Cryptocurrency Transactions


Bitcoin is a popular cryptocurrency, but it isn’t the only one out there. There are plenty of them and we are going to be using more of them in the future. That is why it is important for mobile app developers to create an app that will act as a digital wallet for use in cryptocurrency transactions. The beauty of this is it acts like an online bank, but it is much secure since transactions will be a one-way street- meaning that no one will ever know about the money transfer and so on. This can put the clients at ease because doing transactions this way is more secure than using a mobile bank app.

2. Secure Contract Systems


If you work from home, chances are that you are given a digital contract that is filled with confidential information. The problem that we currently face is that everything in the digital space can be hacked
and the information that was on the contract can be read by just about anyone, especially with someone who has a malicious intent. Enter the Blockchain technology. Every information that is distributed cannot be
replicated nor copied; again, putting the life of the employee and the employer at ease.

3. Develop a Stock Trading App


Cryptocurrency is a fast growing currency and we are going to see it in the stock market sooner than later. Because of this, app developers can leverage this by creating some sort of a stock trading app that allows people to invest in the stock market without fear of compromise.

Conclusion

There are endless possibilities when it comes to Blockchain Technology. Our future transactions are going to be more secure, data distribution will remain confidential (as it should be), and there are no more worries about getting compromised or hacked. Expect to see more and more apps being developed that will use the said technology in the future. I am so excited about this and so should you!