A recent claim by the Harvard Business Review predicts that what the internet did to print and tele media, blockchain will do to traditional banking. The analogy seems incomplete without also noting that akin to how online media has been fuelled by mobile apps, the penetration of blockchain is also likely to be steered by mobile app development, making mobile blockchain a household term.
So, let’s try and get a feel of how to integrate blockchain technology into android app development.
What’s all the Fuss About Mobile Blockchain?
The core of blockchain technology, strong encryption, provides a long-term solution for many industries looking to stay ahead of the curve when it comes to securing transactions—real estate consortiums, healthcare organizations, and financial institutions to name a few.
Using several advanced methods through blockchain protocols, blockchain technology has changed the face of digital transactions, making them even more accessible. This digital ledger technology promises to be particularly suited for mobile apps, facilitating smooth peer-to-peer transactions. Furnishing dedicated and unaltered records of transactions solely based on mobile app needs, along with offering lower-cost solutions and automating time-consuming processes, blockchain is now nigh-indispensable to mobile app development, ushering in the era of Mobile Blockchain.
Though a mobile-first blockchain system seems far-off, the convenience of a mobile interface can certainly enrich blockchain-based systems.
Are Blockchain Apps More Than Just a Passing Fad?
Though they have quite a lot going for them, a few critical features appear to be at the heart of blockchain apps gaining so much traction.
Even though providing mobile services for financial transactions is no more an alien concept to the FinTech Industry, issues like rejected transactions, commissions, and exchange rates are still a few roadblocks impeding this industry’s growth. With blockchain apps and integrated blockchain wallets, customers can choose to make a purchase with cryptocurrency, without any additional fees.
Enjoyable Crypto Exchange Experience
Buying and selling cryptocurrencies have to be centred around the customer’s convenience, what with the extreme volatility of the cryptocurrency market that demands quick action. Mobile crypto apps have managed to achieve this quite successfully, garnering great popularity.
Advanced Data Security
With data breaches on the rise, security has been a major challenge for banking and finance apps. During transactions, mobile applications are vulnerable to man-in-the-middle (MITM) attacks. Employing decentralized data that ensures to keep a record of all chains for each member of the network, blockchain based mobile apps reduce the probability of such attacks.
So, even if crypto ends up failing, blockchain apps seem to be here to stay.
Blockchain applications optimize digital business operations, increasing business revenue, and improving security.
What Makes Blockchain Applications Tick?
Widely known as DApps (Decentralized Applications), blockchain apps do not use any central servers acting as intermediaries. Instead, data is exchanged through what is known as a blockchain network, where users themselves serve the role of mini-servers. However, setting up a blockchain could require storage space ranging from a few GBs up to 1 TB. DApps tackle this problem by functioning as links in the chain, with every user at the helm of data validation and transmission.
Want to Build Your Android Apps Leveraging Blockchain Technology?
Here’s all that you’ll need to consider.
Step 1: Formalizing Ideas
As with every business and product, conceptualization or proper planning should be your first step. Your DApp should be targeted towards solving specific problems. You should also consider your needs and ensure that blockchain is a viable solution, and not just a buzzword that you want your app to feature.
Step 2: Researching Market Competition
Though the blockchain market has not yet become saturated, there are a lot of good ideas out there. Looking at the current playing field, you can try to pinpoint your niche, or draw inspiration from existing solutions to evaluate what can be improved.
Step 3: Analysing Technical Options
You can choose to build your DApp using any of these options.
- Private networks, using blockchain software
- Open blockchain networks like Ethereum or Bitcoin, integrated into your application
- Cloud-based services of BaaS (Blockchain as a Service) providers like Amazon and Microsoft, integrated into your own app
- Building your own blockchain network on any suitable platform
Step 4: Selecting a Platform
If you have your heart set on building your own network, you can choose a suitable platform from among these.
- Ethereum allows you to develop a blockchain application and also create your own ecosystem. Though it uses Solidity as the programming language, which allows for the creation of smart contracts, Ethereum is still one of the most popular blockchain app development platforms.
- Ripple is primarily targeted towards financial apps. Connecting users with banks and payment providers, it facilitates fast, global monetary transactions at incredible speeds of up to 5 transactions per second.
- Hyperledger Fabric is most suitable for creating corporate tools that facilitate intra-organization data exchange.
- R3 Corda specializes in the creation of permissioned blockchains. Easily integrable with legacy systems, it is particularly suitable for healthcare, commerce, trade finance, and supply chain related DApps.
Step 5: Choosing Programming Languages
With a variety of options available—C#, Python, Java, Solidity, Go, C++, Michelson, Plutus, Scilla, and Rholang, to name a few—you must carefully decide what’s best for your project.
The tech stack for your blockchain app must strike a balance between your needs and your team’s expertise. Some languages are more suitable for things like Smart Contracts, while others handle asynchronous code much better. Going for unconventional languages would require you to hire experts or take the time to train your existing teams.
Step 6: Initiating Development
Besides the languages and the platform, the development processes for android apps using blockchain technology can vary depending on three other aspects:
- What strategy you’re using for the interactions between nodes
- What your consensus mechanism is
- Whether you’re employing an existing blockchain, a BaaS or creating your own
Whatever the case, the development process would typically involve these stages.
Step 7: Deploying and Maintaining the DApp
To be successfully deployed, you must ensure that your DApp is operating smoothly and is compliant with all Google Play Store rules and conditions. Post deployment, you must start collecting and analysing data on app performance and user analytics.
Right after the successful deployment, maintenance emerges as the most crucial service of blockchain app development. Regular security and feature updates to your app are required to meet changing user and business needs, and to support newer frameworks, libraries and operating systems.
The business landscape in the near-term future is likely to be coloured by mobile apps, with Blockchain technology being one of the key resources they tap into. Finance, Supply Chain, Healthcare and Retail are but a few of the industries that will benefit from the secure options that mobile blockchain furnishes. There are also signs that a blockchain-based app store may soon come into the picture.
Amidst that outlook, a project envisioning the development of a blockchain distributed mobile app or the integration of an app with a blockchain warrants expert help.
With our years of experience developing robust and scalable mobile apps and our expertise of the newest technologies, we at Josh Software can help you accomplish the confluence of blockchain technology and mobile app development in your project.
Dominate the World of Blockchain developing dynamic Android Apps with Josh Software.
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