Blockchain is a decentralized open source network, which is the most popular and latest technology in recent times. Blockchain will completely eliminate the third party servers and will not allow any kind of intermediaries in exchange money, messages or data.
Blockchain network stores its data systematically in blocks, these blocks are interconnected with other blocks in the form of a chain. It is built on a strong foundation hence there are less chances of frauds and misrepresentation. With its strong security protection feature blockchain has entered in different sectors like health care, financial institutions, education institutions, bitcoin casino and now in mobile application popularly known as DApps.
Generally, blockchain is highly functionalized technology which requires high storage capacity. But, mobile phones have very less storage capacity hence DApps run only on a part of the chain. There are two different types of blockchains based on the network we use:
Permissionless Blockchain: It is accessible to all the members of the network which is available on all the devices. All the members can access the transactions and interact with others users must like Bitcoin.
Permissioned Blockchain: It is accessible to only limited participants. It will have a set of rules and regulations for the network holders. The transactions are managed by its own network.
Benefits of Blockchain Apps
There are amazing benefits of blockchain apps in the mobile application market across the world.
- Easy transactions
- User experience
- High security system
Spotify, a music app is powered with blockchain technology, it creates a decentralized connection between artist and the player data.
To know more details about Blockchain in the Mobile Application Market – checkout this infographic developed by our team from winbtc.net.