Cryptocurrency’s main strength: Blockchain technology and its uses!

In 1999, the economist Milton Friedman dared to predict the birth of the ecash. He defined it as a payment method based on the possibility of transferring funds over the Internet, between A and B, without any prior knowledge of each other. Years later, in 2013, Marc Kenigsberg, creator of the Bitcoinchaser.com blog, stated:

“Blockchain is the technology. Bitcoin is simply the first mainstream manifestation of its potential”

Both visionaries predicted the birth and power of cryptocurrencies and the strength of blockchain technology as a fundamental pillar of an ever-growing economy.

What are cryptocurrencies?

Only, we can define cryptocurrencies as a digital medium of exchange. They are considered a digital asset and use cryptographic methods to ensure the integrity of their transactions, facilitate trade and control the issuance of new cryptocurrencies.

The first known cryptocurrency is Bitcoin and was created by a person whose pseudonym is Satoshi Nakamoto in 2009.  He was the first to develop the technical document or White Letter supporting Bitcoin and designing the first blockchain database for its exchange.

The main characteristics of cryptocurrencies are:

  • They do not depend on any centralized entity for their issuance.
  • Transactions made with cryptocurrencies are irreversible. No one can delete or modify a transaction after it has been carried out.
  • There are no intermediaries in the exchange process. Unlike traditional currencies, there is no intermediary between the holders of cryptocurrencies at the time of exchange.
  • It is not possible to counterfeit a cryptocurrency. Thanks to the technique of cryptography, the authenticity of these digital assets are fully guaranteed.
  • Total anonymity and privacy for their holders. How the exchange system is structured protects the identity of those who participate in the exchange process.
  • Currency convertibility. It is possible to exchange them for different types of currencies in the market.

The value of cryptocurrencies is variable since it is not anchored to any physical asset. For this reason, fluctuations are constant and are susceptible to speculation.

 

Today, Bitcoin tops the ranking of the world’s top 100 cryptocurrencies with a value of approximately $33,000. It is followed in decreasing order by Ethereum with $1,894 and Tether with $1.00, cornering between the three of them almost 67% of the total volume of amounts traded for the third week of June 2021.

The power behind cryptocurrencies: blockchain technology

While it is true that cryptocurrencies have gained a privileged place in the digital economy, it is also true that blockchain technology is the real crown jewel in this incredible digital asset.

 

Exploring beyond the obvious is necessary for curious, creative, and agile minds such as those making up the Hypernova Labs teams. And discovering the high potential of blockchain technology to make it available to our customers is a challenge.

Blockchain technology makes it possible to keep a public record of transactions in a decentralized way and store and maintain information in a network, ensuring its integrity and privacy.

It has infinite applications for the need for data documentation, and one of its key features is that it does not depend on a centralized entity. There is no bank, government, or organization controlling the information. The design of the network allows the users themselves to validate and verify the exchange of information.

 

Security is another essential key when talking about blockchain. Many events in recent times have made users doubt the security of their data on the network. Information theft or identity theft are just some of the crimes that jeopardize shared information and have made users doubt the security of online services.

But the blockchain guarantees data security since it is not possible to add, remove or modify information without all network users being aware of it. Each time a transaction is performed, a copy of this operation is stored in each node of the network. These nodes are connected in an orderly and sequential fashion. For this reason, if someone wants to alter the information in one node, there are thousands of records of the original transaction in the rest of the network.

 

Likewise, each node or block stores the information of the block that precedes it plus its own, thanks to data encryption technology. This generates a historical record of transactions that is visible to all users. If someone wishes to alter it, they will break the code that binds them together and alert all members.

In short, blockchain technology guarantees the decentralization of data, the authentication of transactions, and their recording and storage transparency. Excellent features that make it the basis for the development of solutions aimed at improving the customer experience.

 

Palpable examples of this innovation race can be seen in the D’Apps or decentralized applications that use blockchain platforms to direct the relationship between users. Likewise, BBVA’s recent experience with the medium-term implementation of the integration of financial services in the Trusple blockchain platform for foreign trade.

Hypernova is ready for the next step

Technology is advancing by leaps and bounds, but that is not an obstacle for us. On the contrary, it is what drives us every day to study, build and grow a little more. We are developers of solutions for your company. Our goal is to make your customer’s experience the best in the market. And we work to make it happen.

The benefits of blockchain open doors for us to offer you more and better solutions. Please take a moment to talk with us, and let’s shape your results now. The future awaits us.

Native Applications or Multiplatforms, what to choose?

Using different applications in our daily lives has become  an almost unconscious act. We check our bank balance, we order food, and we can even get a pre-diagnosis of an ailment.

Our world resolves around apps, without a doubt

For this reason, application development is a technological field that is growing by leaps and bounds. As a result, development companies know more and more areas where applications find a space. therefore, they need to be prepared for these challenges.

Hypernova Labs do not lose sight of this fascinating scenario for a second. Instead, it keeps up with the technology to offer its customers the right solutions according to their needs.

Application development is a job that requires dedication and being in tune with the requirements and needs of the users. This is how different technical aspects come into play regarding costs, the time necessary, and accessibility. These determine the different types of applications that can be found in the market.

One of the essential elements when choosing which type of application fits the solutions required by the user is the platform to be used. Therefore, we can define the platform as the virtual space where the application will be executed to satisfy the needs for which it was designed.

Then, according to the platform, we will have different types of applications. So let’s see each one separately, as well as there strengths and weaknesses.

Native Applications

They are developed using the language of the operating system of the device in which they will operate. They are designed specifically for one platform and do not allow their installation on another. A simple example is those applications designed for smartphones with specifications for Android or IOS systems.

The development of native applications offers the following advantages:

  • First, they offer a better user interface. Second, they provide optimal integration with the functionalities of the mobile device (Bluetooth, camera, sensors, microphone, etc.) and make the navigation process a pleasant and straightforward experience.
  • Higher performance thanks to the of the operating system for which they were developed. The user has the benefits of the application and all those derived from the operating system on which the device works.
  • Significant improvement in response time.
  • Allows the option of push notifications, expanding the possibilities of accessing new potential customers through offers on new services.
  • Constant updates of the application are possible and respond to user feedback.
  • No internet connection is required for operating as they are downloaded directly to the device.
  • It is possible to offer them through the corresponding App Store, increasing their visibility in the market.

On the other hand, there are some disadvantages of developing native application:

  • They require more time for development and higher investment.
  • The functionalities of the application are not the same on all platforms.
  • The code used for each forum is unique and cannot be reused for another platform.

Multiplatform applications

In response to these characteristics, other applications have been developed that’s seek to extend the scope of the applications and their strengths. In this case, we refer to Multiplatform applications.

A multiplatform application is developed in a programming language the allows it to be exported to any platform or device with minor changes. It has a unique code that adapts to most devices.

When we talk about multiplatform applications, it is essential to set aside web applications or Web Apps. They are multiplatform applications because of their features but do not require downloading to a device. They run through the different existing browsers but lack the functionalities of mobile applications in general.

Cross- platform applications, like native applications, have many advantages that have won the public’s preference:

  • Having a reusable code, adapting to different platforms, and integrating functionalities are more significant.
  • Development and implementation costs are lower on average.
  • The user experience and the look and feel of the application are the same on all devices.
  • Shorter development time, so launch dates are easier to program and adjust to a predetermined schedule.
  • They are essentially Mobile first as their design is friendly on all mobile devices.

But not everything is plain sailing, and there are some disadvantages or drawbacks with this type of application:

  • Since they do not have access to all the functionality of the devices, their functions may be limited to some extent. This translates into lower performance compared to native applications.
  • Even though they are designed for all types of platforms, they require time to validate their operating before launching them to the market.

What to choose?

It is possible that, as a customer, you may have reasonable doubts when deciding on a type of application: native or cross-platform. But it would be best if you did not worry because we will give you the keys to determine.

When evaluating an application, the concepts of time, cost, performance, and accessibility are basic. Instead, consider the performance, the expected user experience, and the accessibility offered by each of these options and compare your objectives.

Define your initial budget and review it in the light of each of the developments: Is it enough? Am I willing to raise it if the growth and scope of my objectives demand it? And don’t forget that time is a decisive factor. So put on the table the dates estimated in your plan for the development and launch of the application and check if the chosen application complies with them.

Finally, the most important tip: seek the advice of professionals in the area that offer you a broad and complete vision of the possibilities of each development and how they work based on your objectives. Always make informed decisions.

Hypernova Labs is a company in love with developing solutions and satisfied customers. For this reason, I will not hesitate to offer you all the advice you require when making such a decision. As a result, your business will deeply appreciate having the right developers for your projects, and your customers will have the best experience. We are waiting for you with a coffee to design your future without haste but without pause.

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