The blockchain technology is a fast-rising technology which popularity keeps growing. Blockchain is a technology that came into being the introduction of Bitcoin and the success of Ethereum. However, it has surpassed that domain to becoming a technology that could be deployed into any institution to ease transactions and the way businesses are processed. Blockchain is made of interconnected networks called blocks. These blocks can also be called a public confirmation ledger. Those blocks are connected with the technology called cryptography. Blockchain is, therefore, a set of blocks that are used processed a peer-to-peer transaction in a way that eliminates any need for intermediaries in a way that provides a very efficient, secured, and fast transaction. Originally, blockchain was mainly used to process cryptocurrency transactions, where public computing powers (miners) are used to authenticate transactions in a way that totally checks out frauds.
No wonder, therefore, other industries are jumping on the blockchain technology. The security and efficiency it brings into play are goldmines. Apart from the security and efficiency it brings, faster transactions could help industries eliminate unneeded bureaucracies and paper works that only add to transaction costs.
Benefits of Blockchain
The benefits of the blockchain technology cannot be overemphasized. The benefits the technology brings are numerous:
- Security of Data
Nothing scares more in this technology age than a porous system that does not guarantee the security of data. An unfortunate leaking of a company’s data system could lead to problems for many. Data breach is always a big scare. A case in point is the recent Facebook hack that affected about 50 million users’ account. The integration of blockchain prevents that kind of breach.
- Elimination of Intermediaries
The traditional banking system is modelled on the system of intermediary kind of transaction, where the banking institution serves as the go-between in a transaction involving two parties. The blockchain technology eliminates all that by making the transaction happen without the help of a necessary intermediary. This also, in a way, creates a speedy transaction.
- Protects Identity
One of the main reasons for the popularity of blockchain is the way it protects the identities of people involved in a transaction. The identities of parties in a transaction do not necessarily need to be known to guarantee a safe transaction. The blocks (public computing powers) are used to check security without the identity of those involved. And this is why the addresses of transactions are a combination of numbers and alphabets. That means the identity of those involved are not important, and all that matters is the security of the transaction.
Ways to Deploy Blockchain in Web Development
The success of blockchain in keeping data safe and in the processing of faster transaction makes the technology quite useful for web developers to deploy in web development. The expertise in blockchain in web development is relatively rare, so a web developer with the knowledge of blockchain will be raking in more work opportunities that those without the technical know-how of blockchain. There are many advantages blockchain could bring into web development. Little wonder merchant websites like Amazon have integrated the technology in their websites. The opportunities the blockchain offers in web development are indeed endless. Here are therefore the ways blockchain can be used in web development:
- To Create Smart Prediction
This a bit different from what AI bots do when integrated into a website. With the use of blockchain, merchant website can carefully predict the future of wants of a customer based on their purchase history such as has been stored on blockchain’s blocks. Business can, therefore, use the information from this means to structure how a website will interact with a particular customer during their next visit. This will forestall the need of purposeless adverts.
- It Increases Interactivity on Web pages
Building Own Blockchain in web development could create very engaging websites. Gone are the times when websites could be static, lifeless, and dull. The use of the blockchain technology eliminates all that. This is another way the use of blockchain could change web development.
- To Ensure the Security of Data
When blockchain is integrated into the development, users can be sure their data will be safe on that site. This is so as blockchain is known for its sterling security of data. Users of a website do not have to worry about the breach of their website, as the cryptography feature of the blockchain will protect all their data.
- For Safer Transactions
Nothing scares a web user most than the hacking of their credit card’s details from a retail website where they had made a transaction. There is a limit to the encryption technology used by the merchant websites. However, with the use of the blockchain technology, the smart contract feature will not ensure a faster technology, but the blocks will ensure details of transactions are not revealed for hackers to take advantage of.
Some Very Useful Tools for Blockchain Web Development
- Coinbase’s API
This is a very important tool for building bitcoin application and the integration of same into existing applications. That way, web developers could use the API to create cryptocurrency addresses and wallet and integrate same into websites for payment transaction.
- Ether Scripter
This is basically a tool used for developing smart contracts. It can be used to write scripts and has been popular among blockchain web developer since 2014.
Mist is a tool that is closely associated with Ethereum. It can be used to develop decentralized apps (dApps) on the Ethereum network. Using Mist as a web developer means you will have to run with the apps on the Ethereum network. Using the blockchain will demand you some fee to the Ethereum blockchain technology.
BaaS is an acronym for Blockchain as a Service. It is a tool owned by Microsoft. It is a more blockchain unlike Bitcoin and Ethereumblockchain which web development could use to build dApps. Sometimes, it is advisable not to use a public blockchain to develop applications when you want to be more secure.
Blockchain has not changed the way transactions are processed, but it is a fast-rising technology with greater possibilities for web developments.