In a highly competitive market, many startups are trying to use new technologies to attract attention and expand project opportunities. These include companies that develop mobile applications.
Today, this technology is used in mobile applications to speed up transactions and ensure the security of essential user information.
Unicsoft specialists are engaged in implementing blockchain applications development and are confident that it has many features that will become key for software in the future.
Why mobile app developers use blockchain
Until recently, blockchain technology was considered exclusively in the context of cryptocurrency, but over time, its potential began to be used in other areas, in particular, in the blockchain supply chain development of mobile applications.
Blockchain is a decentralized digital ledger that stores data about each transaction in an immutable chain. According to data access, we can distinguish the following:
- An open blockchain is a database in which any market participant can view the history of transactions, examine the data and create a smart contract.
- A private blockchain restricts access to the information stored in the registry, so all network participants must have the appropriate permission. Transactions are accessed only by the parties involved in them.
- A public (inclusive) blockchain does not set restrictions on the identity of transaction processors; users can create blocks on their own, and an exclusive one, on the contrary, allows only a specific list of entities with established identities to process transactions.
Why is it important? All the features of the blockchain make the system transparent and increase the security of applications, as they exclude the possibility of fraud – it is impossible to make unauthorized transactions on the network without the participants’ knowledge.
In addition, as it turned out, any peer-to-peer transactions in mobile applications are significant for this technology. Blockchain allows you to maintain records of transactions of any type, depending on the needs of the mobile application.
With the support of this technology, it will be feasible to automate numerous labor-intensive procedures. Thus, blockchain protocols can make digital transactions in business processes more accessible and faster through new methods.
How blockchain can be used in mobile apps
First, the introduction of blockchain significantly increases the security of mobile payments. Thus, more users can trust mobile banking using secure applications.
An example of such cooperation is the partnership between Telcoin and telecommunications companies. With the help of applications, people who have mobile phones but do not have bank accounts can make secure payments.
Also Read: Learn How to Play Rummy on The Mobile