Blockchain technology is one of the most exciting tech developments in modern times. These platforms are the driving force behind a number of new concepts and systems that are promising to change the face of a range of different industries and sectors.
While cryptocurrency is often used interchangeably with blockchain, the two systems are quite different and there are important distinctions between them. Blockchain has a number of different uses, and it can serve as a platform upon which applications and programmes can be built, the rise in Internet Computer Token Price evidencing this. Can blockchain be used to build websites? Let’s find out.
How Does Blockchain Work?
Understanding how blockchain works is key to learning if and how it can be used to build websites and what kind of advantages this approach can offer.
The concept of the blockchain has its origins in the 1980s, but the technology wouldn’t be put into practice until the rise of Bitcoin in 2009. As we mentioned earlier, crypto and blockchain are closely linked but are in fact totally distinct technologies with their own individual purposes.
Blockchain platforms are systems where actions can be recorded. The most common use for them currently is to record and store transactions made using digital assets like cryptocurrency. Every action is recorded as a block, which is then added to a chain of previous actions, with each block secured through cryptography.
Before a new block can be added, it must be validated by other users on the network through what is known as a consensus mechanism. The Bitcoin blockchain uses a Proof of Work consensus mechanism, where users have to solve complex mathematical equations to validate new blocks. We’ve recently seen new consensus mechanisms, including Proof of Stake, in use, which offer greater speed and efficiency.
Blockchain is decentralized. This means it is free from oversight from regulatory bodies and organizations, with decisions and actions put in the hands of the users.
Can Websites be Built With Blockchain?
Web development is a multi-billion-dollar industry. Everyone, from the world’s biggest brands to small local businesses, needs websites, so ensuring these platforms are accessible, safe, and secure is paramount.
Blockchain can be used to both host and build website applications, and the technology can offer a range of incredible benefits over traditional web development approaches.
So, how do you actually go about building a blockchain website? Let’s talk through some of the steps.
Register a Blockchain Domain
To build a blockchain-based website, the first step is to register a blockchain domain. This works in a similar way to registering the domain of a normal website, you’ll need to find a unique name and purchase it to secure it.
There are various different extensions that can be used with blockchain domains, including .bitcoin, .blockchain, .coin, .crypto, and .ntf. All of these extensions are based on the Ethereum network blockchain, which is the second-largest after Bitcoin’s.
Once you have chosen your domain and picked an extension, it’s time to purchase and register your domain. Your domain will be stored in the blockchain, where your ownership will be guaranteed, and you will not be charged renewal or hosting fees.
Hosting a Blockchain Website
As the blockchain is decentralized, this means that websites aren’t hosted on traditional servers. Instead, they are hosted on the Interplanetary File System (IPFS), which is a peer-to-peer data storage network.
The IPFS is an extremely secure platform that will safeguard your website against attacks from cybercriminals and scammers.
Why Build a Blockchain Website?
Blockchain websites can offer you a number of advantages. Transactions made over blockchain websites will be secured and protected from third-party interference. This makes these platforms perfect for companies working in the finance and ecommerce sectors.
Blockchain websites also offer a greater degree of privacy and anonymity. Customers will not have to divulge sensitive information, making them less vulnerable to cyberattacks. This also means that companies will not be burdened with the responsibility of handling customer data, which can incur severe penalties if done incorrectly.
The current form of the internet we use is called Web 2. In Web 2, the majority of the internet is owned by companies and corporations. However, experts predict we are rapidly approaching Web 3, where there will be more focus on creator ownership and decentralization.
Web 3 will be built upon blockchain platforms and will utilize emerging technology such as artificial intelligence, machine learning, and virtual reality. The result will be a highly immersive and engaging internet where users have far more control over the content.
By building a blockchain website, companies can get a head start as we head towards a Web 3 future, and will be able to enjoy some excellent benefits into the bargain.
The internet is an integral part of our everyday lives. As technology continues to develop, the internet will become more powerful and more immersive. Blockchain websites will usher in the new Web 3 age and work to create a fully decentralized, highly engaging internet ecosystem where the users are firmly in control. Blockchain websites are the future, so get started building your own today.