If you haven’t heard of blockchain technology, it won’t be long until you do. The terminology and development process has become widely popular in the digital currency sector, largely because it makes it very difficult to change, hack or carry out fraudulent activity on the digital data it houses.
However, blockchain technology is now being used for the development of apps outside of cryptocurrency. With large global companies like Microsoft investing in the process to improve digital ID verification, it opens up a world of opportunities and is arguably the way forward in building and developing digital assets, including software, programs, apps, and websites.
Rapid Innovation are a team of specialist blockchain technology developers. Bootstrapped by its three founders only two years ago, thanks to their sought-after expertise and the growing popularity of the technology, they are already one of the largest blockchain development companies in the world.
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Below, we look at how blockchain technology is being utilized, and how Rapid Innovation are paving the way for organizations worldwide to adopt the innovative technology:
- How blockchain technology came to be
The primary use of blockchain technology up until now has been for cryptocurrency entities. It was built to allow digital information, such as financial transactions, to be recorded and distributed, but not edited.
The reason why it’s become such a popular of way of handling digital financial data is because it solidifies trust and truth as nobody ‘owns’ the process. The value of the currency can not be amended, the currency cannot be distributed, faked, hacked, or double spent, and this brings honest value to the currency. It also means digital currency can be sent to anyone, anywhere, without the need for currency exchange or without interference from banks.
To learn more about blockchain technology, visit the Rapid Innovation website: rapidinnovation.io
- How can businesses benefit from blockchain technology?
The technology is particularly useful in protecting data and removing the need for centralized ownership. Blockchain Development Services, such as those provided by Rapid Innovation, are able to create ‘blocks’ to house any type of digital asset. These blocks, or digital assets, can be files, contracts, tickets, records, videos, music, and even art, the list is almost endless.
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Typically, a block consists of three elements:
- The data it’s housing
- A unique 32-bit number called a nonce
- A unique 256-bit number called a hash, which is wedded to the nonce
The data in the block, thanks to the nonce and hash, is considered signed and forever tied to both, making it almost hack-proof.
Businesses can benefit from using blockchain technology for all manners of business operations and processes, from smart contracts and making faster, cheaper payments to creating digital ID verifications and so much more.
To learn more about whether blockchain technology can improve your business, take a look at the Blockchain Consulting services from Rapid Innovation.
- Rapid Innovation have become a global-leading blockchain development company
Are you looking for an experienced team to build your blockchain app? Then look no further than Rapid Innovation. They’ve become obsessive about their process and the will to master their trade, and this shows in the quality of their work.
The process starts with a planning phase, where you’ll discuss your project with the team at Rapid innovation and they’ll outline how they can turn your dream into a reality. Then comes the design and architect phases, where user experiences are mapped, designs are created, navigation and architecture are tested, and smooth operation is ensured. The specialist blockchain developers will then build, test, and launch your app, with the option to upscale and upgrade moving forward.
With a diverse and growing portfolio of clients, Rapid Innovation are on track to achieve their mission of becoming the no.1 blockchain app development company in the world by 2022.
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