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What is it that first comes to your mind when you hear the term blockchain? Yes, I know. It is cryptocurrency and bitcoin. Now, comes the question, do you know what exactly a blockchain is and how it has now become an important to mobile app developers who develop iOS and Android applications? If you don't, then it is ok, because that is what we are going to discuss here.
Like the internet, blockchain too is undoubtedly one of the most innovative creations done by a brilliant mind. The blockchain is a master plan either by an individual or by a group of people who are renowned under the pseudonym, Satoshi Nakamoto.
The blockchain technology was developed to be a public ledger which would help store the information of all digital transactions. Now, by allowing the digital information to be distributed without being copied, blockchain has begun a new type of internet.
Initially, the blockchain technology was developed for the Bitcoin, a digital currency which has been gaining much attention, since its investors began making profits. However, the tech community devoted to development is now working hard to find other potential uses of this technology; one of them being iOS and Android applications development.
Developers can effectively make use of the distributed database: Blockchain uses a distributed database to function. This comes in as great news for app developers since they are easily available and their performance is much better than the non-distributed applications; especially in the advent of a network failure.
Though the distributed database comes in as a blessing, developers must be very careful while using it. Since they themselves cannot be sure that whenever there is an update in one part of the distributed system, the same will have an impact on the other part too. Another drawback is that of inconsistency.
Developers can include secure payment architecture: The blockchain technology does not use any third parties for any payment transactions. What it uses is a peer-to-peer payment architecture than the usual server based architecture.
Here too, the developer might face difficulty as in; the transactions through blockchain do not have many legal considerations.
The developer cannot go on assuming that the data is accurate just because it appeared with the blockchain. Therefore, the developer has two main tasks to complete here:
Android and iOS app developers can reap off benefits from using the blockchain technology. First, in order to reap the full benefits, it is better than the developer has a good understanding regarding the functionalities of the bitcoin; all about how it works. Then focus on developing the architecture which incorporates the peer-to-peer electronic cash system.