Distributed Ledger Technology, also known as the blockchain, has gained a lot of popularity among the enterprises over the past few years. However, blockchain and DLT are not the same. When it comes to a distributed ledger, it is a database that is stored on various devices, systems, or regions. We can say that blockchain is a type of DLT that offers several benefits to businesses or individuals investing in this technology.
Given these benefits of DLT, both small and large enterprises have started to leverage decentralized social networks for sharing knowledge, building connections, promoting products, and raising funds. It’s because centralized social media is prone to cyber bullying, and other criminal activities. Therefore, due to improved privacy, high-security, and transparency, people also choose decentralized social media app development.
If you’re planning to build a DLT social media app for your business, but not sure whether it is the right investment, don’t worry! We are here to guide you. In this post, we will explain some of the benefits of using DLT in developing mobile apps like social media.
- Transparency and trust
DLT is related to blockchain, which is a synonym of trust and transparency. As a result, people perceive this technology as a trusted shared resource, making the transactions and interactions certifiable, traceable, accountable, and understandable.
Implementing a distributed ledger into a social mobile app offers structural security advantages. Unlike centralized social media apps, DLT-based apps are autonomous, and it does not depend on a single-core system, which means to attack or alter a distributed database, an individual needs to penetrate through multiple connected nodes. Thus, hacking such applications or networks is next to impossible.
The following are the various aspects that make distributed ledger a highly-secured technology.
- Data encryption
- Fault tolerance
- Access control
- Identity management
- Tamper-resistant data
- Easy management of device
By using distributed architecture along with DLT, devices can have direct interactions with each other, which will boost their abilities to manage devices efficiently. With peer-to-peer communications, activities like security fixes, issuing software patches, and firmware updates can be distributed in a better way.
Another vital benefit of a DLT-based social media app is cost savings. It has been observed that the implementation of distributed ledger in applications can save you money as well as time. It is because, in a shared peer-to-peer market, each participant node uses its power to approve each request whenever changes are initiated in the database. Currently, there are hundreds or thousands of associated nodes that contribute a significant power to controlling every request. As a result, this helps businesses to save money that is investing a lot of money in maintaining, securing, and updating a centralized service.
These are just a few of the advantages of using DLT in social media mobile applications. However, they are more. Although this technology is in its infancy, the above benefits indicate exponential adoption in the coming years.
Are you looking for an experienced decentralized social network developer? Get in touch with Steem Experts. We house a team of professionals who have in-depth knowledge and expertise in the field to build robust DLT-based mobile applications for social media and other platforms.