When we talk about the Blockchain technology, the word cryptocurrency instantly comes into the minds. So, if we want to know about the Blockchain technology and its usefulness to the application developers, then it would be worthy to discuss something about bitcoin technology. Eventually, the Blockchain technology was created as a public ledger to store all the digital transactions.
However, how would you define its utility for the app development industry? There are a number of mobile apps which are based on bitcoin technology or have similar functionality. The Blockchain has indeed been a good rescuer for the clients, the business partners and the funds as it secures from any kind of loopholes.
The Blockchain technology still has a long way to travel as many industries which haven’t used its potential. Probably they went after the applications, which weren’t deemed suitable for the Blockchain and perhaps better off with the conventional databases including MySQL.
Read also: The Blockchain Technology is Fueling Various Industries Including the Financial
To most of the people, the Blockchain technology is a kind of distributed database containing a number of blocks. The blocks contain a timestamp and cryptographic link that is connected with the earlier block. Besides that, it also contains a database that is visible to all but cannot be updated by any one user.
The Blockchain technology does not need the support of middlemen or third party to conduct the transactions. One of the vital features of the Blockchain is that it is based on peer-to-peer payment architecture rather than server-based architecture.
When we talk about how Blockchain can be useful to the app developers, the fact remains how they are reaping its benefit. So, usually if the app developer is developing apps similar to that of bitcoin, then the Blockchain technology will be more than handy.
Thus, if you want to reap full benefits of the Blockchain, then it would be viable to be familiar with the functionality of the bitcoin. Once you develop the understanding of how bitcoin works, your task will become much easier.
First things first, the app developer has to create an architecture for incorporating the peer-to-peer pseudonymous electronic cash system, without which it will be difficult for him to develop an app like the bitcoin. The app designs will also be quite different. However, do not go for the true copy same as bitcoin because the requirements for your app may be different and you won’t be able to use the blockchains properly.
The Use of Blockchain’s Distributed Database Application
The Blockchain has a distributed database, which is a good news for the app developers. The fact that they run via networked computers and set up the coordination by passing the message. The message either gets coded between instances of the application or it uses a shared memory.
One of the major benefits of distributed databases is that they are readily available and secondly function better in comparison to the non-distributed applications; specifically when there is network failure.
However, the app developer needs to be very careful as it is a difficult job to store data in the distributed database. This is because you cannot be sure that if there is an update at one of the part, it will not have an impact on the other part of the distributed system.
Another challenge that might prop is when the user spends the same bitcoin twice or more and the bitcoin blockchain will record the transaction. In that case, the bitcoin loses its consistency. This is one drawback of the distributed nature of the Blockchain that bitcoin does not stay consistent.
Now the blockchain developer can also incorporate the Blockchain technology if the bitcoin users make a compromise on whether a particular transaction occurred or not. This type of agreement is common today and takes place in the databases. You need to develop some knowledge of the functionality of the database.
Developing the Distributed Applications a Tough Ask
The developers should be aware that developing the distributed application isn’t a cake walk and can pose a tricky situation. You need to test and debug the software so that it can run on a single system.
Quite often due to a bug is known as heisenbug, the computer operation may change its behavior specifically during the testing process. So, better be ready for it. Another type of bugs that you might have to meet include mandelbugs and schrödinbugs, which can create problems such as the abstract behavior of computer and unexpected behavior during unconventional use of an application. No doubt that these types of bugs can prove frustrating both in distributed and non-distributed application.
The summary of the discussion is while using Blockchain for the application, you should get ready to deal with these kinds of difficulties.
The Appropriateness of Blockchain Transactions including Legality
Whatever transactions getting carried out must be done through a legitimate and legal channel such as government agencies. The examples of these include payment through bank accounts. On the contrary, since the Blockchain is free from government control and regulations, the bitcoin implementation does not enjoy the same level of legal support.
Read also: How to Build a Bitcoin Wallet App and How it’s Useful to Mobile Payments
So, the lawyers had to do the painstaking job of developing a legal framework for the business process and use of public-key infrastructure (PKI). On the other hand, the controls related to the documents are mentioned in Certificate Policy and a Certificate Practices Statement. However, the policies associated with the legal considerations is not very clear.
You cannot assume that the data will be accurate because it appeared with the Blockchain. The verification of bitcoin transactions are easier and each of the transaction gets verified before they are added to bitcoin blockchain. However, if it is some other application, the same task will become tough.
But the job here is half done. The developer has to complete two tasks; validates the data to be written on the Blockchain and write the validated data to the Blockchain.
The Blockchain technology is quite handy for the app developers as it helps in developing new business process and you can make the application more secure from the customer point of view. Plus, you can add the element of confidentiality into the app and develop the advanced peer-to-peer payment platforms with the help of distributed nature of the Blockchain.