Blockchain has been around for quite a while by now. However, in the past few months, there have been variations in the price of cryptocurrencies such as Bitcoin. The fluctuations have caught the world’s attention. With the ever-increasing rise and drop in prices, cryptocurrency has proven to be quite a good investment for many folks. The rising popularity of cryptocurrency will not be made possible without the underlying technology behind Bitcoin and other such currencies. Blockchain is getting dubbed as the future of technology.
What is Blockchain Technology?
There is more to Blockchain than just cryptocurrencies. Blockchain technology is what powers cryptocurrency networks and transactions. However, it is capable of doing much more than just that. Blockchain is a digital system that works without a central server or administrator. For a traditional environment, every Blockchain development company gets governed by a central authority. It can be a government or a company owning the administrative rights over the data. In a blockchain concept, there no border or restrictions. It implies that transactions and data can flow from one point to another freely.
Blockchain Technology in WordPress
WordPress is the most popular Content Management System in use today. It is only logical that it is affected in some way or the other by every new concept. Blockchain technology is no exception to this rule. There are already many WordPress plugins out there that now allow website owners to accept payments via Bitcoin and cryptocurrency. However, that is more of a payment gateway solution. It is, however, made possible only because of Blockchain. As time goes by, there are various other things that blockchain technology can do for WordPress.
How Blockchain can impact your WordPress site
The popularity of WordPress is notable in the digital market world. It gets considered as the most acclaimed platform for having a customized WordPress development.
You can adopt the Blockchain development services advance the overall security for WordPress websites. A blockchain can be implemented to harden and encrypt data. The login information and other sensitive information can get stored in an encrypted format. Users can choose to share their data selectively. Most importantly, this can add an extra layer of protection to the login process.
When verification of identity gets done via Blockchain, it implies that there are fewer chances of brute force attacks being successful. There are even lesser probabilities of one faulty script at the server to compromise everything. It is because not everything gets stored in the same server under the same admin. WordPress users can, therefore, use this technology in the future to improve the security of their websites.
Identifies Verification and Manages the Site
When it comes to online verification, it can be a considerable challenge. It is because of the weaken username and password model which are accessible to stole or crack for getting hacked. There are different new blockchains developed for encryption of personal data. They allow users to share their data actively. It can be utilized to login apps, identity verification, and share personal data securely with service providers or colleagues if needed. It leads to site management without much hassle, and you can be set free from any cyber-attacks.
Monetization of Content
Spending a whole pool of money against the content creators has been based on a new algorithm. The algorithm that takes into account the page views, likes, and other engagement factors which can be a good idea. Applying that to more than a single site can be distributed into more challenging networks. No one has yet figured out what the algorithm should get used for and where to source for the sum of money come.
You no longer need to seek the assistance of Word Ads and Ad Sense for obtaining content monetization services from a centrally trusted entity. You don’t need the support in defining the algorithm that operates the servers and handles payments. Blockchain development solutions are by far the distributed and most trustless when it comes to design. It is because a blockchain-based content monetization service does not require a single trusted entity at the center. System governance should get designed in a way that the algorithm gets optimized for all stakeholders. The possibility to remove selling ads should become exciting as it is forms content monetization in a wholly or partial way.
Most users have to often deal with a lot of intermediaries when accepting and processing payments from visitors on their sites. It applies to people who are selling digital goods such as software or extensions. Blockchain technology can cut down the role of many intermediaries in the payment process. Additionally, it can also help digital publishers gain customers from different countries. It is because not all states may support specific payment solutions, such as PayPal. A solution based on a universal blockchain can be a more useful method for accepting payments. Blockchain does not matter if the said payments get made in cryptocurrency or traditional money.
Blockchain technology can support users and visitors in providing better feedback to webmasters and site owners. When adopted on a more extensive scale, it can even be used to empower electoral processes online. However, for WordPress users, there are concepts such as online polls and quizzes, or surveys. These too can be implemented via a blockchain to offer better responses and greater involvement. The reply and participation can come in handy if the anonymity of the participating voters’ vote is necessary. Don’t be left behind, contract the best Blockchain developer, and get a chance to enjoy this benefit in your website.
Blockchain technology is an innovation that is poised to bring a lot in the future. It will, therefore, be wise for a business to take it up as a part of their business website. WordPress India is a leadingWordPress Development Company. The company extends a complete range of services for building enriching business websites. Their team possesses expertise in innovative technologies too. All this make them the right choice for you when you are looking to implement Blockchain in your business solution.