Blockchain has become the definition of Security in the present digital world. With a number of industries and even governments applying the technology to add a whole new level of security and decentralization to their processes, the technology has penetrated itself into the world beyond IT and Finance.
For instance, blockchain technology is elevating the real estate industry by empowering online marketplaces to conduct secure transactions and enabling a higher level of transparency among stakeholders.
A trend that is visible in the market growth forecasts of Blockchain technology.
With forecasts as these, Blockchain has become a technology that is worth looking out for.
The trend of making the technology a part of the business cycle have now moved into the world of mobile applications as well. While still ruled by a handful of Blockchain based apps, the technology is an open playground for brands to experiment and emerge as a champion in. A move that is also bringing in a demand for the presently very limited group of excelled Blockchain App Development Companies.
Let us look at how you can implement Blockchain in your next mobile app for an added security level.
The start of your aspiration is knowing everything about the technology. In this article, we will look at what the disruptive technology is about, the elements that will come together to give numerous advantages to your mobile app. In the end, we will also look at ways to implement the technology in your app, to make yours the category’s most secure application.
So let us start by looking at how Blockchain works.
Blockchains are sets of interlinked transactions. Every party involved in the chain, sign their transactions with the help of strong keys, which ensure that every transaction has been authenticated.
Next, two hash are being introduced in the block, one that gives tamper protection to the block and the other that safeguards the data transaction that went before the one added. These hash help in recording the data of all the events that happened in a block, making it impossible for any of the involved party to tamper with the block without alerting the other parties.
A deeper dive in the Blockchain technology will open doors of new unheard concepts and algorithms that the world of Blockchain live in. The world which is too deep and complex for brands to get a grasp on, keeping them away from utilizing the technology to its utmost potential. So, without going too deep, I’ll now highlight the significant elements of Blockchain that are the technology’s foundation.
As a brand owner who is new to the complex world of blocks and chains, read these elements as the features that your application would be based on, to be called the next big new age, disruptive mobile application
Mining in Blockchain stands for extracting data from the various transactions and creating a block of them. With each new addition to the transaction, the miner keeps extracting the data and adding them to the block, thus making a chain of the transaction.
By now you must have gathered how Blockchain has been introduced in the technology world as the torchbearer of Digital Security. When we talk about securing a system or an application, the implying notion is to secure the data, file, document, or the contract that is or will be saved in the mobile app.
In Blockchain, when a document or file is stored, a hash is created. Hash is that feature of Blockchain that converts the data in a unique output of fixed length for every transaction. Specific to Hash, every block contains the previous block hash, which has the reference to the hash the next one will be built upon. The block also has the hash of current transaction which will then be connected to the next hash, when the new block gets added.
The authenticity of the block can be identified by verifying its hash.
3. Decentralized System
Every digital asset ranging from a contract and property related papers to even the chain of related events documents was earlier a part of mesh which had to be broken down into several pieces and middlemen to get access. But, with Blockchain, every information is now available online, in a decentralized system.
Now every activity whether it’s record keeping or keeping it up to date is handled by the users themselves. Irrespective of whether you wish to change the address in your official document or you have to extract the property tax paper related to the first property you purchased ages ago, you will no more have to go through intermediaries.
4. Distributed Ledger
The Blockchain is an open ledger that contains all information related to digital transactions they are meant to handle. By keeping the information in the sequential format as blocks, the ledger allows real-time tracking as soon as a new block of information is added.
By involving a group of users in the ledger who all have access to view and add real-time information of every transaction, Blockchain enables transparent and tamper-proof management of the ledger.
For securing the internal communication within your mobile app, Blockchain uses metadata for communication, which is scattered in the distributed ledger and is impossible to collect at any one central point, thus making it impossible to hack.
[Know about the use of blockchain for business communications here.]
5. Keyless Security Infrastructure
To store all the data hash and run a hashtag verification algorithm for their verification, Blockchain makes use of the Keyless Security Infrastructure. This enables spotting of any data manipulation in real time as the original hash is always available on other blocks linked in the system/chain.
So, here were the five elements that lay down the basis of Blockchain Technology. While still on the technical side, it’s time that we look into things from your perspective – a perspective that we have detailed in our Entrepreneur’s Guide to Blockchain.
Let’s look at how Blockchain will take your Mobile App Security to the next level by using the features that the world swears upon.
Benefits of Adding Blockchain Technology in Your Next Mobile Application.
1. Protection of Data
By using cryptography to assign private keys to the users, your users will be able to store, view, and manage all the transaction specific data and information in one place.
2. Data Transparency and Validation
Taking data identity to the next level, Blockchain allows users to make their data available in a decentralized system which every one of the involved parties has real-time access to. Blockchain makes it impossible for any single party to tamper with the information in the block and go unwatched, thus maintaining the integrity of the data and making it transparent for all, thus eliminating the need of middlemen.
3. Protection of Infrastructure
By storing the DNS entry on the Blockchain, the mobile app owners can shift the risk of hack to Blockchain’s secured platform. The distributed, transparent DNS that the technology offers, make it impossible for even the government to get into without the permission of the involved parties.
4. The End of Passwords
Blockchain allows the authentication of users, their devices, and the transaction that they do, without the need of entering a password. Its network decentralization feature helps create consensus among the involved parties for the authentication of Blockchain based SSL certificates.
Blockchain, while still a new entrant in the mobile app market will soon become mainstream at the back of these and various other advantages that the technology has been introduced to the IT world with.
You can also explore what Blockchain is as a service and how you can utilize it in your business in an effective way.
For you, who have decided to cut ahead of the competition and introduce the feature that will soon become a part of a major number of mobile apps, here are some tips on how to successfully implement the revolutionary technology in your next mobile application.
Tips on How to Implement Blockchain Technology in Mobile App
The first step to successful Blockchain implementation in your mobile application is to identify the app features that would need players to act on it. Only by having players and an incentive plan to keep them to contribute is how you can ensure the authenticity of how fail-safe your Blockchain app is.
The next tip to successful Blockchain implementation is to know the exact transactions that Blockchain will be authenticating. Majorly, Blockchain mobile applications focus on one of the two activities: mediating the ownership of a shared resource value or record facets of multiparty events, such as quotes/bids or bills and payment specific.
When thinking of Blockchain as a service model, plan a strategy around the notion of community. You will be able to get the most of the technology’s value and security feature when you include a community of members who would be a part of your Blockchain based app.
Now that you know what Blockchain is and how you can design your app’s security plan around the disruptive technology, the next step is the groundwork. Contact our team of Blockchain Application Developers today, to get a walkthrough on not just the technology but also its various applications beyond assuring security.