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Why Are Blockchain Applications Important In 2019?

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If we talk about blockchain app development, it is not that different than the basic web app development. And in this article, we will be focusing on showcasing you such things in detail, which also includes the process of blockchain app development.

A well-known subset of blockchain is Bitcoin, which is a cryptocurrency that has created quite a buzz in the mobile app development industry. Once the wave of bitcoin faded, Ethereum made its entry into the marketplace, which was known as the world’s first programmable blockchain.

With this, mobile app developers from all across the world finally had an amazing opportunity to design and develop mobile applications on top of the blockchain technology. This is one of the main reasons why learning blockchain development has become such a necessity nowadays and is also being counted as a top emerging skill in the field of app development.

This has further resulted in high demand for top-notch Blockchain app development companies as enterprises now want to get professional help in building their blockchain projects.

The past two to three years have also been known as the era of blockchain by many experts in the mobile app industry. But as per many statistics and reports, it has also been said that 2019 is going to be the most significant year in the decade-long history of this emerging technology.

Here are some of the key elements that you need to know about while learning Blockchain Technology, some of them are as follows:

  • Blockchain: The term blockchain can be defined as a chain of blocks where each block contains data or information without any central supervision. It is a technology that is cryptographically and highly secure as well as immutable.
  • Decentralized: It is one of the main properties of this emerging technology. Blockchain is said to be decentralized because there is no particular central authority supervising any transaction that is taking place in the blockchain.
  • Consensus Mechanism: This is a mechanism of blockchain by which a decentralized network comes to a consensus state at a certain point.
  • Miners: The users who basically use their computational power for the purpose of mining for blocks in a blockchain.

Here, our suggestion would be to get to know more about the above-mentioned terms that are widely being used in the field of blockchain technology. In addition to this, it is highly recommended that you go through other commonly used terms as well.

In regards to this, the difference in knowledge about blockchain technology is highly visible especially when you study some of these ICOs that are currently making themselves known in the market.

But if you are looking forward to becoming an expert level blockchain app developer then it is extremely crucial that you first learn the process. This is the part where the experience part comes into action as many mobile app developers tend to lack the on-hands experience in this emerging technology.

Our suggestion would be to get acquainted with the latest system and technologies as soon as possible. For instance, app developers have the option to go to Coinbase or any other exchange platform that the developer is comfortable using. Here, they also have to keep in mind other restrictions that vary on geolocation as well.

As it is quite a straightforward approach and there is no need to be buying coins in large quantities or bulks, then we would recommend simply using a basic online wallet that is available for blockchain in the market.

Last but not least, let’s take a look at another segment that is currently coming into the limelight due to the advantages it has to offer i.e. Smart Contract.

If we look at the definition of a smart contract in Wikipedia, it is basically defined as “a computer protocol intended to facilitate, verify, or enforce the negotiation or performance of a contract”.

The term smart contract was first proposed by American cryptographer Nick Szabo in the year 1996. Here, the cryptocurrency Ethereum is often known for popularizing the concept and making it mainstream.

In the end, we can say that anything that runs on the blockchain technology needs to be immutable while also having the ability to run through multiple nodes without any loss of integrity.

Read More: Blockchain Technology – A Major Player of the Tech Space

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