Mobile development using blockchain technology

In a highly competitive market, many startups are trying to use new technologies to gain attention and empower projects. These include companies that develop mobile applications.

One of these technologies is blockchain, which has been popular for a long time, primarily due to the active development of cryptocurrencies.

Today, this technology is used in mobile applications not only to speed up transactions, but also to ensure the security of sensitive user information.

AVADA MEDIA specialists are engaged in the implementation of blockchain in mobile applications and are confident that it has many capabilities that will become key for software in the future.

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 development of mobile applications.

Blockchain is a decentralized digital ledger where data about every transaction is stored in an immutable chain. According to data access, we can distinguish:

An open blockchain is a database where any market participant can view transaction history, examine data, and create a smart contract.

A private blockchain restricts access to information stored in the registry, so all network participants must have the appropriate permission. Only the parties involved can access transactions.

A public (inclusive) blockchain does not impose restrictions on the identity of transaction processors, users can create blocks on their own, an exclusive blockchain, on the contrary, allows only a certain list of entities with established identities to be processed.

Why is it important? All blockchain features make the system transparent and increase the security of applications, since they eliminate the likelihood of fraud – it is impossible to make unauthorized transactions on the network without the knowledge of the participants.

In addition, as it turned out, any peer-to-peer transactions in mobile applications are great for this technology. The blockchain allows you to maintain records of transactions of any type, depending on the needs of the mobile application.

With the help of this technology, it will be possible to automate many labor-intensive processes. Thus, blockchain protocols are able to make digital transactions in business processes more accessible and faster through the use of new methods.

First of all, the implementation of blockchain significantly improves the security of mobile payments. Thus, more users will be able to trust mobile banking using secure applications.

An example of such a collaboration is the partnership between Telcoin and telecommunications companies. Apps can make secure payments by people who have mobile phones but no bank accounts.

Landmapp is also developing a service and a mobile application that will register ownership of land using blockchain technology. In the future, this will greatly simplify many routine tasks.

You can read more about the capabilities of the technology in our article “Implementing Blockchain in Mobile Applications”.

Decentralized applications (dApps) are based on blockchain technology and run on a decentralized computer system or P2P network. DApps are building an innovative open source software ecosystem that is both secure and resilient.

A special role in the work of dApps is played by smart contracts – computer algorithms that are designed to conclude / control self-executing contracts in the blockchain environment. The algorithm performs certain actions if predefined conditions are met. Smart contracts eliminate administrative overhead, making them one of the most compelling features associated with new technology.

DApps have found applications in many areas, from digital asset exchanges to online gambling. There are five decentralized applications that are popular, innovative and feature-rich:

• Chainlink
  Blockchain platform that aims to protect against unauthorized access. Its structure includes special nodes (oracles) that verify input data from different sources, and then send it to smart contracts. Chainlink allows you to implement reliable smart contracts with access to third-party data sources (API, financial transactions, asset prices, etc.).
• Brave
  Free and open source web browser with nearly 10 million active users. Brave has ditched the standard mechanism for tracking user activity and intrusive ads. Instead, it raises the level of privacy on the Internet and invites users to decide for themselves what sensitive data they are willing to disclose. Key players in the new advertising ecosystem (advertisers and users) are rewarded in tokens.

• Eos dynasty

An application that claims to be the first PvP game (player versus player) based on the blockchain. Players can create up to three characters to develop, collect items, participate in battles, purchase equipment and mounts. For certain achievements, they receive three kingdoms tokens (TKT) based on smart contracts.

• MakerDAO

A popular decentralized loan application powered by the Ethereum blockchain platform. It uses the Dai stablecoin pegged to the US dollar. Users can apply for a loan, blocking a certain amount in ETH as collateral, and receive Dai in return.

• Chainyard

An application aimed at solving problems related to supplier data management systems. The service allows you to significantly reduce the material and time costs for carrying out a number of operations: registering suppliers, improving the quality of their verification and managing the data lifecycle.

In the coming years, blockchain will be implemented in a wide variety of applications, from retail and finance to human health tracking. Several large companies, such as Microsoft and LG, are already pursuing the technology’s potential. This will increase the level of security when using applications and minimize the likelihood of identity theft.

AVADA MEDIA has been present on the software market for over 9 years. We provide a full range of services for the development, implementation and maintenance of reliable blockchain-based applications, as well as we are engaged in the implementation of projects of varying complexity and scale.