Enhance Your Mobile App Security Via Blockchain Technology
The security concern prevailing with the advancement of technology in the present digital world and make a great urge to find out better-advanced alternatives to overcome the issue. The blockchain (the technology behind Bitcoin) is expected to be another path breaker that can power the security measures in the long run. Thus, the developers consider blockchain highly potential for mobile apps that are data storage based or rely on ledger-type functionalities.
Considering the virtual aspect, the blockchain can benefit any apps, allowing access to a large volume of data in a reliable and secure manner.
Interesting & Proven Facts:
➢ $600 billion: The size of the entire cryptocurrency market by the end of 2017, (Source: CoinMarketCap)
➢ $2.1 billion: Global spending on blockchain solutions in 2018 (Source: IDC)
➢ 42.8 percent: The expansion of the blockchain space every year to 2022,
(Source: Netscribes prediction)
➢ 3x: The number of blockchain-related LinkedIn job postings more than tripled over the last year.
➢ 13 percent: Senior IT leaders who have clear and current plans to implement blockchain, (Source: IDG Connect research)
There has been a constant increase in the number of app development companies relying on the Blockchain Technology to provide better app security to enhance User-Experience. Considering statistics, the global Blockchain market is expected to reach at $7.7 billion by the year 2024.
Size of the blockchain technology market worldwide from 2016 to 2021 (in million U.S. dollars)
Source : Statista
The hype of Bitcoin made this technology often regarded as the base of all cryptocurrencies. The functionality of this recorded set of the digitalized ledger had benefited various industry verticals like Real estate, Banking, healthcare, Education in conducting secure financial transactions. Recently, the mobile app development companies are adding the application development with this innovative technology to boost the mobile app security.
Another reasons why your business should use this technology is about its open source structure. It means that other users of the network can read and confirm the information. One of the most essential things of being open source is, it can't save logged data without majority Blockchain network users.
Conclusion:
In this digital era - Blockchain can be referred to as security synonyms. Hence, if you are looking to leverage blockchain in your own mobile app, get started without given a second thought. Hire blockchain developers team having extensive experience with emerging technologies specialized in blockchain and other innovative technologies including IoT, machine learning, AR/VR, predictive analytics, artificial intelligence, and natural language processing.
This technology offers a lot of opportunities and its immeasurable potential improves the quality of service provision securing confidentiality and integrity of data at the same time. Transparent transactions will lead towards a better digital and sustainable world.