Blockchain Technology: What Is It And What Is It Good For?

Written by
Rebecca Smith

Published
Jul 1, 2019

Jul 1, 2019 • by Rebecca Smith

Blockchain technology involves cryptography and is also referred to as blocks.

The blocks involve a cryptographic hash. The cryptographic hash consists of transaction data and a previous timestamp block. These blocks represent a Merkle tree.

A block-chain resists data modification, it involves a distributed ledger. The ledger is open and can record two parties’ transaction. This makes it safe for both parties in the case of dispute arising from the transactions.

A block chain has an infrastructure cost, but it doesn’t have a transaction cost. It is is a safe manner of passing information from one point to another in a cost-effective way.

Blockchain Technology

Block chain technology provides a platform to change how you do things.

Through block-chain technology, you address institutional problems and different business using standard architecture.

It helps you to deal with digital challenges. Digital challenges include transparency, immutability & integrity.

This technology has several benefits, which include;

Security to Mobile App

It ensures the highest security in mobile phones. Data encryption in block-chain technology makes it hard to do decryption of data. Everybody can thus see the data but can’t edit it.

This creates confidence among mobile device users because of the surety of data safety.

More Reliable Mobile Apps

It promotes the reliability of mobile applications. The blocks secure the mobile app from collapsing. Decentralized features don’t tolerate unauthorized alternation.

Keeps the Mobile Apps Updated

Advanced software updates deployment in future versions of block chain applications is inevitable. This is incorporated from the initial stages of the development of applications.

The applications receive push updates from the developers from time to time.

Block chain is an open technological source.

The developers of these applications make them available freely in the market.

Developers are also making them more secure and robust. It helps reduce the cost and time for apps.

For this reason, many people get the opportunity to enjoy the best applications at no cost at all.

Promote Simplicity

Simplicity is another advantage brought about by block chain technology.

This technology enables simplicity in performance of functions by simplifying mobile application tasks.

This simplicity also ensures fast development of mobile applications
in a cost effective manner.

Increases Transparency

Block chain technology promotes transparency. Users can track records from block chain technology anywhere. This technology prevents the possibility of fabrication of information.

Block chain technology ensures resilience in mobile business applications. Besides, this technology also makes these applications tamper-proof. Find out more.

This technology promotes trust among users and entrepreneurs about their transactions. Block chain technology also protects valuable data. This technology also allows several users to use it at the same time.

Is Blockchain Technology Worthwhile?

In summary, the blockchain technology helps us deal with digital challenges. Some of the benefits brought about by block chain technology include;

  • Increased transparency
  • Promoting simplicity
  • keeping mobile applications updated
  • Ensuring reliability and security.

Blockchain technology makes things easier.

It is evident that the use of blocks is safe.

For more information about block chain technology, media & events, visit our website.