The recent notable rise in Bitcoin prices has revived the imagination of many investors, but Blockchain technology is not just about money. In this article, we will look at how effective this revolutionary technology can be over classic web hosting services.
The concept of cryptocurrency is not rocket science. In fact, this medium of exchange is not as complex as a traditional currency. However, it still needs a secure and reliable environment in which to operate, and this is provided by Blockchain.
What is a blockchain? There are many misunderstandings associated with this, but for the purposes of this article, we will define it simply as a distributed table. We are all familiar with Excel or Open Office spreadsheets, but what makes Blockchain so attractive is its distribution.
Like the documents in the torrent, Blockchain is a peer-to-peer network that does not require trust between the parties. Thanks to modern cryptography, trust, on the contrary, is protected at a higher level of record by the host.
Okay, now we understand the basics of the cryptocurrency revolution, but how can it affect web hosting services? In fact, in its simplest form, it will offer to sell your services not only in your local currency, but also in Bitcoin and other cryptocurrencies.
But this is not the end of the revolution. Bitcoin and other digital currencies need e-wallets to operate, and thus have great potential for traditional web hosting vendors. If you have the trust of your customers and host their sites, then why not post your e-wallets?
Each transaction in a cryptocurrency is an actual transaction between two electronic valets. Each exchange is done through a wallet, and you can also provide an interface for your customers to access it. This factor is important to fully understand the impact of Blockchain on your web hosting business.
Blockchain is not just about money. The latest versions of the protocols allow the parties to conclude a contract in any form, whether it is a subscription to cable television or another bill. They all need to be kept together, and there is a place for web hosting companies to participate.
Thus, the wallet is the key to take full advantage of the potential of Blockchain. Once you understand this, what should be your next steps?