Satoshi Nakamoto is the one who developed Bitcoin and we all know Bitcoin is based on a rather new technology that has changed the future dynamics of development within a few months, Blockchain. Though it is true that Bitcoin is powered by Blockchain technology but the two are not one and the same thing. Bitcoin is just one example showcasing Blockchain technology’s potential. Blockchain basically provides the means to record and store Bitcoin transactions and can be and is actually being used beyond Bitcoin.
Once in many years a technology emerges that not only creates hype but promises to stay for longer than the initial hype. Blockchain technology is one of them and there is a reason why blockchain startups are hot at the moment, because they have a promising and brilliant future.
Here are a few startups that have shown various other potential uses of Blockchain technology beyond Bitcoin:
Ethereum is not exactly a startup but rather an emerging blockchain platform for ICOs with more than 50% market share. Just like Java is synonymous with android app development and is a very popular language for creating android apps, Ethereum is a decentralized software platform that allows developers to create blockchain-based apps such as SmartContracts and Distributed Applications (DApps). The biggest advantage of Ethereum developing language is that it helps developers create apps without any risk of fraud, downtime or interference from any third party.
Consensys Systems is a startup that uses Ethereum development language to build decentralized applications. They are here in the industry to stay and pose serious competition to the rest. Consensys Systems has a distributed accounting system and a distributed music model to compete with the industry giants Apple and Spotify, prediction markets for business, sports, and entertainment.
One way of monetising video game apps is to offer in-game purchases and ever since this method was adopted by videogame developers the industry has seen a huge growth in the sale of in-game items. Many online games and gaming apps allow players to buy in-game gear with money which obviously led to the creation of an aftermarket of sellers of in-game gear. Dmarket is one such startup that has taken the in-game purchases to the next cool level, they are a cross-game marketplace and allow gamers to trade any virtual item from any game on any platform using real money. The mode of payment used by them is Bitcoin.
Xapo is really cool, nothing new or revolutionary here that blockchain developers haven’t heard of but Xapo makes things easier for businessmen and companies who deal with customers all over the world. Xapo is a mobile app that is actually a Bitcoin wallet for your smartphone that allows you to send, receive, do bank transfers and convert funds between Bitcoin and real cash from all over the world, every currency covered. The app also allows you to use the Xapo Debit Card for in-store purchases, online shopping and ATM transactions all over the world again using Bitcoin as well as traditional currencies.
These are just few of the many amazing and more ventures and start-ups based on blockchain development technology. Blockchain app development technology is not a mere hype; it is here to stay and has already started making lives of people easier all over the world.