The notable recent rise in bitcoin prices has rekindled the imagination of many investors, but Blockchain technology is not just about money. 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 is no more complicated than traditional currency. However, he still needs a safe and trusted environment in which he can work, and this is provided by Blockchain.
What is Blockchain? There are many misunderstandings associated with it, but for the purposes of this article we will simply define it as a distributed table. We’re all familiar with Excel or Open Office spreadsheets, but what makes Blockchain so appealing is the way it spreads.
Like the files in Torrent, Blockchain is a peer-to-peer network where there is no need to trust between the parties. Thanks to modern cryptography, trust is maintained at the level of a single record, not the participant who places it.
Okay, now we understand the basics of the cryptocurrency revolution, but how, we might ask, does this affect web hosting services? In fact, in its simplest form, it offers not only to sell their services in local currency, but also in bitcoins and other cryptocurrencies.
However, this is not the end of the revolution. Bitcoins and other digital currencies need e-wallets, and so there is huge potential for traditional web hosting providers. If you trust your customers and host their websites, then why not host their electronic valet?
Each cryptocurrency transaction is de facto a transaction between two electronic valet. Each exchange is supported through a wallet and you can also provide your customers with an interface to access it. This factor is crucial to fully understanding what impact blockchain can have on your web hosting.
At the same time, the blockchain is not just about money. The latest versions of its protocols also make it possible to conclude any form of contract between the parties, whether it is a subscription to cable television or any other type of bill. They all need to be stored somewhere and there is room for web hosting companies.
Therefore, a wallet is the key to making full use of the potential of Blockchain. Once you understand this, what should be your next steps?