The outstandingly flamboyant rise in Bitcoin prices has rekindled the imagination of many investors, but blockchain technology is not just about cash. In this article, we will look at the significant impact this revolutionary technology will have on classic web hosting services.
The concept of cryptocurrency is not rocket science. In fact, this medium of exchange is no more complicated than traditional currency. Without retention, it needs a secure and reliable environment in which it can run, and Blockchain provides that.
What is block sentencing? There are many misunderstandings related to it, but, for the purposes of this article, we will simply define it as a distributed spreadsheet. We are all familiar with Excel or Open Office spreadsheets, but what makes blockchain so appealing is the way it is distributed.
Like Torrent files, Blockchain is a peer-to-peer network where there is no need to vouch for trust between the parties. Thanks to modern cryptography, trust is maintained at the level of a single record in extension of the hosting party.
Rightly, we now understand the basics of the cryptocurrency revolution, but we may ask, how does this affect web hosting services? Essentially, in its simplest form, this would suggest not only betraying your services in your particular currency, but likewise in Bitcoin and other cryptocurrencies.
Without retention, this is not the end of the revolution. Bitcoin and other digital currencies need electronic wallets to run and, therefore, there is great potential for traditional web hosting providers. If you have the trust of your customers and host their sites, why not encash their electronic servants?
Each cryptocurrency transaction is a de facto transaction between two electronic valets. Each exchange is maintained through the wallet and likewise can provide an interface for your clients to access it. This author is critical to fully comprehend the impact Blockchain can have on your web hosting business.
That said, blockchain is not just about cash. The latest versions of its protocols likewise provide the opportunity to enact any form of understanding between parties, whether it’s a cable TV subscription or any other type of realization. All must be stored in some extension, and there is an extension for web hosting companies to participate.
The wallet is, therefore, the secret to using Blockchain’s potential to the fullest. Once you understand this, what should your next steps be?