In brief, the blockchain is a transparent list of records (called blocks) that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.
While blockchain technology is often correlated with Bitcoin, it represents much more than that. Essentially a blockchain is a public ledger of information which serves as a record of multiple entries from the public.
To recap on what blockchain is, read our previous article on blockchain technology.
To understand the prospective use of blockchain for mobile apps, we first look at the nature of the blockchain.
The blockchain can be useful to app developers who want to revamp the world of mobile apps due to the secure way it stores transactional data. The blockchain’s incorruptible digital ledger of economic transactions can be programmed to record not just financial transactions but virtually everything of value.
For apps which require people to perform transactions on them such as making payments for retail shopping, internet banking, or online betting, blockchain technology makes an improvement for the mobile industry to keep transactions safe and fast.
(Read also: How Blockchain in Finance & Healthcare Works)
So how would blockchain technology potentially be a technical advantage to keep up with our market of mobile apps? Let’s take a look.
The DNS entries data collected by the Google Play Store and Apple App Store may not offer complete reliable security.
While nothing is 100% guaranteed in security, blockchain offers the added advantage of collecting DNS entries and storing them securely by giving complete access to app developers of eliminating the interference of middlemen.
Referring to point one, with the current situation, developers currently require to invest in cost-per-installment advertising campaigns if they wish to advertise their apps. In this way, often the middlemen are benefiting from this process.
This is where blockchain gives power back to the people and benefits both app developers and users. Blockchain reinvents the advertising strategy by getting rid of the need for middlemen by running Cost Per Installation campaigns.
Like any other business, apps need to be profitable in order to survive. With CPI campaigns, digital ads are placed to drive installs to a specific mobile app. Businesses are then charged a fixed rate or bid rate whenever the app is installed.
The app economy is highly inefficient due to many intermediaries between the users and developers. It is constructed by single entities that provide highly centralised platforms.
Generally, getting an app approved can be a big headache for developers with the complicated procedures laid out by app providing platforms.
Blockchain technology simplifies this process for app developers and helps users to install apps based on ranking.
Alternative app stores such as Aptoide want to revolutionise the mobile app industry with its supercharged app store protocol. Known as an independent Android app store, it distributes top apps in what it calls itself as the safest Android app store. What’s more, there are no geo-restrictions so users can find all the content regardless of where they are.
In regular apps, a user would spend a particular amount in the Google Play Store or Apple App Store to buy apps, bear transfer charges, or any additional charges passed on by the developer.
With the availability of blockchain technology driving down costs for developers, this helps developers distribute apps with a full transparency at lower costs, or by receiving better payout rates for their in-app purchase purchases.
One unique feature is the innovative cost-per-attention (CPA) model which converts only when users spend two minutes in an app. For the users, they are rewarded for their attention whereby their CPA rewards can be used to buy apps without using a credit card or other payment methods.
If you are a gamer or a fan, you would know how importance of the voting feature. The voting feature is an important asset for the gaming community who utilise it to vote for their favourite streamers, content creators, esports games, cosplayers, and personalities.
However, there is the possibility of punching fake votes with multiple accounts or bots in the Play Store and App Store.
Blockchain eliminates the threat of voting from multiple accounts and fake votes. This helps users to get perfect feedback about the game and its reliability.
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