Blockchain has extensive practical applications across many industries, and web development is one of them. The technology can revolutionize web design and development by reducing the risk of cybercrimes, tampering, and fraud.
In this blog, we will explore how Blockchain technology will impact web design and development in 2021.
Blockchain Explained in Simple Terms
Blockchain is a decentralized (no central authority) database that is secured by cryptography. The digital records keep updated in real-time across a network of computers.
Every transaction, or block, is validated before being added to the database, and each transaction happens after the previous one. That’s why it’s called a chain. Also, all transactions are logged in a public ledger, ensuring authenticity.
The working of Blockchain is similar to a Google Doc. When one user grants access to a document to another, both of them can see the updates. They can view, validate, edit and agree on the contents in real-time. Also, just like a Blockchain network, the Doc is secure as only invited members can access it.
Benefits of Blockchain in Web Design and Development
In 2021, Blockchain is no longer the technology of the future. However, big tech companies like Amazon, Microsoft and IBM have adopted this versatile technology to offer blockchain-as-a-service.
The primary application of Blockchain in web development is creating highly secure business solutions. As a result, businesses can implement the technology in their daily operations to protect their records from being misused or hacked.
Let’s look into the major benefits of Blockchain in web design development:
1. Fully decentralized
The processes of Blockchain aren’t controlled by any central authority – but by the users of a network. So, using Blockchain makes all transactions fairer and secure. Moreover, there is no need for an intermediary for fund/data transfer.
2. High transparency
The records and statistics once created in a Blockchain network cannot be altered or deleted. All transactions made by any user are visible to all others, creating a highly transparent system.
3. Fewer costs
Blockchain removes the need for verification by a third party by using smart contracts. Therefore, using the technology reduces transaction costs besides improving the speed of trade.
Immutability means the ability of a Blockchain ledger to remain unchanged once an entry is made. This property makes Blockchain a highly reliable platform.
5. Quicker transactions
The transaction channels in Blockchain are incredibly smooth as they are created, eliminating all the factors that could cause a glitch.
6. Advanced traceability
Blockchain is a great way to eliminate fraud and verify the authenticity of assets because users can easily track the data at any point in time.
With smart contracts, Blockchain lets you execute processes in a predefined direction. So, the technology helps businesses run faster with automated execution of tasks.
Impact of Blockchain in Web Design and Development
Data privacy has become one of the most important aspects of web design services. Some fantastic features of Blockchain web development include eliminating errors, high security, control to all users, and removing intermediaries.
As the number of cyberattacks is increasing each day, technology is gaining more importance than ever. Let’s examine how Blockchain technology has impacted web design and development.
More Privacy & Security
Each transaction recorded in a Blockchain network can be seen and accessed by everyone. Furthermore, all Blockchain networks revalidate content every ten minutes. Therefore, it’s tough to corrupt even a single piece of data in the network because to do so, a user will have to override the entire network.
Cloud storage or hosting is an integral part of modern web development. You can use Blockchain to develop distributed cloud storage that can avoid many challenges like downtime and hacking. Moreover, with Blockchain, you can easily encrypt and share files across networks, which can be recalled and grouped back together.
Even though Blockchain creates an open network accessible to each member, every data block can be encrypted. The encryption will open with a private key only. Blockchain technology can be utilized by instant messaging platforms where personal messages could be seen exclusively by the sender and receiver. Facebook-owned WhatsApp is already using peer-to-peer encryption to protect user privacy, but upcoming Blockchain-based services will take it to the next level.
The decentralized networking features of Blockchain are changing the way people are marketing online, too. For instance, Google loves collaboration within communities as it helps the search engine deliver personalized results. The data from Blockchains will be preferred to provide the most relevant information to users. Also, Blockchain will help deepen the trust between advertisers and website owners in the case of display advertising.
Blockchain in web development is still in the nascent stage – but there is enormous scope. You can use Blockchain to create highly interactive websites that can help your visitors. Websites can be developed without a centralized page, offering highly interactive experiences. For instance, developers can change website content according to different circumstances with AI and Blockchain.
Businesses can use Blockchain technology to build easily accessible apps to boost their market presence. These apps are secure, and anyone in the network can contribute to its code. Most importantly, the decentralized approach eliminates the need for intermediaries to validate transactions. The technology will particularly benefit e-commerce businesses.
Blockchain has revolutionized the digital world with its extensive capabilities to perform thousands of highly secured transactions every second. We saw the many applications of Blockchain in web development. As the internet population is rising steadily, Blockchain technology will become an essential aspect to secure data.
We can be sure that this decentralized technology will have many more future applications in web design and development, along with other innovative technologies like Artificial Intelligence. So, it’s the right time to approach a good web development agency to implement Blockchain in your online marketing strategy.