Blockchain is a system for storing data in a way that makes it nearly impossible to alter, manipulate, or copy it. All that is necessary to implement blockchain technology is a global network of computers to reproduce and distribute a digital record of all past transactions.
A “block” on a blockchain is a collection of transactions that are related. After establishing a block’s validity, it is added to the end of the chain of previously validated blocks. This approach is known as Distributed Ledger Technology (DLT), in which the entire database is maintained by multiple users, hence decentralising the blockchain. Decentralization refers to the absence of centralised control over a network, such as a bank or a government.
What Makes Blockchain so Popular?
Suppose you are sending funds from your bank account to family or friends. You would log in to your online banking account and transfer the funds using the recipient’s account number. Your bank updates the transaction records after the transaction is complete. It seems straightforward, correct? There is a key risk that most of us ignore.
These types of transactions are highly susceptible to manipulation. People who are aware of this fact are typically hesitant to engage in these types of transactions; thus, the emergence of third-party payment applications in recent years. However, this weakness is the primary reason Blockchain technology was developed.
Blockchain is a digital ledger that has recently gained a great deal of interest and traction from a technological standpoint. But why has it gained such popularity? Let’s delve further to comprehend the entire concept.
The documentation of data and transactions is essential to the operation of a firm. Typically, this information is managed in-house or sent to a third party, such as brokers, bankers, or attorneys, which increases the time, expense, or both for the business. Luckily, Blockchain reduces this lengthy procedure and accelerates the transaction, thereby saving both money and time.
In actuality, Blockchain and Bitcoin cannot be used interchangeably, contrary to popular belief. Bitcoin is a money that relies on Blockchain technology for security. Blockchain technology is capable of supporting applications in different industries, such as finance, supply chain, manufacturing, etc., but Bitcoin is the only currency that relies on Blockchain technology.
Blockchain is an emerging technology with numerous benefits in a society that is becoming increasingly digital.
- Highly Secure
It uses a digital signature function to execute fraud-free transactions, making it difficult for other users to damage or alter an individual’s data without their own unique digital signature.
- Distributed System
Conventionally, transactions require the consent of regulatory bodies such as a government or bank; but, with Blockchain, transactions are conducted with the consensus of users, resulting in transactions that are more efficient, secure, and quick.
- Automation Capability
It is programmable and can automatically make events, actions and payments when the trigger conditions are met.
How is Blockchain Work
Here’s an illustration of how blockchain can be used to verify and record Bitcoin transactions:
- Investing in cryptocurrencies is possible by purchasing Bitcoin or Ethereum.
- Bitcoin’s decentralised network of nodes transmits transaction information.
- The nodes ensure the exchange’s authenticity.
- Once the transaction has been validated, it will be added to a growing block and the chain of validated transactions.
- Once a block has been finished, it is encrypted, and the related transaction record on the blockchain becomes immutable.
Due to its open nature, any Bitcoin holder can access the blockchain. Even if it is hard to tell who is behind a certain account, the ledger will indicate which accounts are involved in blockchain-based transactions. In public blockchains, any user with sufficient processing power may serve as a node to validate and record transactions.
Blockchain App Development in Healthcare
Here, we will describe how you can participate by developing blockchain-based applications.
Before you can go on to the more specific components of app development, you must determine who the app is for and what problems it should solve. Likewise, it is essential to identify the best circumstances for blockchain system implementation.
When developing medical applications, blockchain technology should be implemented:
- Protecting sensitive information: In 2020, a single data breach would cost a healthcare organisation an average of $7,3 million.
- This has the potential to change industries such as healthcare by streamlining operations such as prescription fulfilment and patient record matching. Moreover, blockchain technology can help combat product expiry and counterfeiting.
- Automation of typical business procedures: The blockchain shines when used to automate routine business procedures, such as those found in supply chains. However, it may also apply to the computerization of insurance processes, financial transactions, accounting data, etc.
2. Establishing Adaptive User Experience
It is essential to treat your blockchain-based healthcare application with the same care and attention to detail as any other application.
Here are some tips to follow while you undertake this process:
- Focusing on the overall user experience: identify design problems, eliminate unnecessary procedures, and make the interface intuitive.
- Display the most important information first: The initial screen of a fitness app should indicate your current caloric expenditure and training programme. If this is a pill reminder application, the home screen should display the next scheduled dose, a list of drugs, and a countdown timer.
- Make it responsive: It is essential to examine how your application will appear on a variety of screen sizes, in addition to the visual aspect. This is vital if you’re developing an Android app.
3. Installation of the MVP Software
It is natural to strive for excellence from the minute you build your own programme. However, you’re mistaken. Instead, you should concentrate on the most essential components of the concept and develop a minimum viable product (MVP) to test the idea and obtain feedback as quickly as possible. This will allow you to tailor your service to the actual needs of your clients.
4. Inspection and Assessment
If you want your blockchain-based medical application to be available in the Apple App Store and Google Play Store, you must conduct comprehensive testing to assure its quality. In order for the app to be accepted in such markets, it must be robust, secure, and capable of managing large user populations. In the case of medical apps, compliance with the regulations and laws governing the offline and/or online delivery of medical services is also required.
5. Launch and Deployment
Putting blockchain-powered healthcare software into production is the final phase in its development. Following the deployment of all necessary services, the Google Play Store and the Apple App Store are updated (servers). The second prerequisite is:
- Register for the Apple Developer Program and the Google Play Console.
- Complete the necessary paperwork in order for the application to be made public.
- Apple’s annual cost is $99, whereas Google’s annual fee is $25.
This is a reminder that any health advantages claimed by your app must be demonstrated. If your service is comparable to AcneApp, it will be taken down. By reflecting blue light off a smartphone’s screen, the software “eliminates the p-acne bacteria (the primary cause of acne) and reduces spots on the skin by 76%,” according to its inventors. For making false claims, the Federal Trade Commission banned the product and punished the manufacturers. Eventually, all such services were disabled.