Blockchain technology has been used extensively across many industries in recent times and web development happens to be one of them. This coveted technology is known to have revolutionized web development by significantly minimizing the risk of cyber threats, compliance-related issues, and more.
What Exactly is Blockchain Technology?
Blockchain is a database with no central authority which is secured fully by cryptography. The digital record uploaded on this decentralized database keeps getting updated across a network of computers.
Here, every transaction is evaluated before it is added to the database and these transactions occur in a sequential manner. A transaction is also known as a block, and the sequence, a chain. Thus, it is Blockchain technology. All transactions here are logged in a public ledger which ensures authenticity.
How Blockchain Technology Benefits Web App Development?
Blockchain technology is a familiar concept to IT enthusiasts by now. Tech giants like Amazon, Microsoft, and IBM have adopted this Blockchain and are now offering it as a service to their customers.
This technology is majorly used in web development to create secure solutions for companies. It enables companies to protect their daily operations, records and is also meant to prevent hacking incidents.
The following are some of the major benefits of Blockchain in web development:
Blockchain is not controlled by any central authority irrespective of what its processes are. Instead, it is controlled by the users of a network. The use of Blockchain has made all transactions more secure without any intermediary needed for data transfer.
Any records that are once created in a Blockchain network cannot be edited, tampered with, or deleted. All these transactions, even if they are made by a single user, are visible to all users. And this creates a very transparent system.
Blockchain technology eliminates the need for third-party verification with smart contracts. Thus, using the technology reduces transaction costs and also improves the speed of trade.
Immutability indicates the ability of a Blockchain ledger to be the same even after an entry is made. These properties make Blockchain a very reliable technology for developers.
The transaction channels in Blockchain are very smooth because they are created like that. It eliminates all the factors that can cause a glitch in the process.
What Impact Does Blockchain Technology Have on Web App Development?
Here are a few pointers that determine what impact Blockchain technology has had on Web Development:
Better Privacy and Security
Each transaction that is recorded in a Blockchain network is seen and accessed by all users. Apart from that, all networks are supposed to validate content every few minutes. This evidently makes it very difficult to corrupt even a small amount of data as it would need the user to override the entire network.
Right now, cloud storage is an integral part of web app development. Companies can use Blockchain technology to create distributed cloud storage and avoid challenges like downtime and cyber threats.
Blockchain enables teams to conveniently encrypt these files and share them across networks that can be recalled and combined again.
Despite the fact that Blockchain creates an open network accessible to all users, each data block can be encrypted. This encryption is provided a private key that users need to enter to gain access. Blockchain technology can be used by messaging platforms where messages can be seen by both the sender and the receiver.
While the popular instant messaging platform WhatsApp has already enforced this encryption policy, it is expected to be enhanced in 2022.
The networking features of Blockchain have affected crucial business areas substantially. Therefore, it is also changing the way people go about marketing. Online marketing has been so effective that more than 50% of customer leads are now generated through this medium.
The primary role of Blockchain here is to provide relevant information to the users. It helps build an element of trust between web app owners and digital marketing teams especially when it is display promotions.
Without a doubt, Blockchain in web development is still going through its initial stages because experts are still gathering clear data about it. Teams can organize Blockchain to create highly engaging websites that can help the users. Blockchain can also be used to create interactive web designs for customers and deliver them in quick time.
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