How long will it take for blockchain technology to be broadly implemented? This question still remains a mystery to be solved.
We are certain that the distributed ledger network is here to stay. The technology has proved its value by enhancing security, transparency and making data storage less complicated.
In addition to that, in 2015, the tech world received a very special gift: Ethereum. The open-source blockchain platform paved the way for Decentralized Applications (DApps) to become popular.
Putting in simple words, DApp is an application or software built into the blockchain, it functions in a decentralized way, without the need of a middleman.
But how Ethereum helped in making it popular? Well, unlike the Bitcoin blockchain, built specifically for payment, Ethereum was created to facilitate the development of tokens and applications in their blockchain network.
From property rental smart contracts to cryptocurrency developments, it’s possible to build almost any type of custom blockchain-based project on Ethereum, including projects that can improve business performance.
DApps and blockchain can provide significant gain for just about every type of business, and that’s why they are becoming a big thing and are here to stay.
How DApps can improve business performance?
Everything an app can do, a DApp can do way better.
Besides the increase of transparency and security, a decentralized development can increase transactions volume, bringing more customers for the business, and even reduce costs with accounting and juridic personnel.
Some of the practical benefits are:
- Transaction and deals 24/7 – A DApp that works with a Smart Contract can settle transactions or even close deal in an automatic way at any time, not only on your business hours.
- Reduced costs – In a blockchain DApp development, the process is automated and self-executing. So, once the terms and conditions are settled for a contract or a transaction, there is no need for lawyers or accounting staff.
- Business expansion – Due to the enhanced operational performance DApps can bring, the business can have more customers and transactions volume
- Immutability – The blockchain networks make sure a DApp is immutable and tamper-proof, helping with security and preventing frauds
Building a Decentralized Application on Ethereum
There’s no need to have a genius on your team to build an Ethereum DApp development.
With the right experts or a blockchain solution company, you can easily have your own and 100% customizable Decentralized Application that will add leverage to your business and take it to a higher level.
Being a pioneer Blockchain App Factory, the leading company in DApp blockchain development we are certain that blockchain and DApps provide the best solutions for business operational issues.