The increasing popularity of cryptocurrency, specifically Bitcoin, has generated curiosity for Blockchain technology in the recent times. The reason is that this is the technology that is behind Bitcoin and other cryptocurrency options. However, it is important to understand that Blockchain’s value is not confined to cryptocurrency transactions but provides several other business opportunities too.
WordPress and Blockchain both have their importance in their respective fields. Most people are aware of Blockchain technology only with cryptocurrency. But it has got a lot more potential than that. Many business enterprises are merging these technologies to build opportunities for their business enterprise. So, here we will be discussing the role of Blockchain in WordPress development.
We will be discussing the impact, its practical implementation; of course, it is possible with a specific plugin. This is practically possible by hiring a WordPress Plugin development company. For all of you who don’t have the technical knowledge, we will discuss the basics. Therefore, it is important to explore the technology first before trying to see its practical benefits.
Blockchain: The Technology That Is Poised To Change The World
A Blockchain is a decentralized digital ledger that records transactions in a chronological order in the form of blocks that get added to the chain when each transaction is recorded. It is characterized by the absence of a central authority; rather each transaction gets automatically updated with every node connected to the Blockchain network. At the same time, there is no role of third-party intermediaries in this peer-to-peer network. With features such as transparency, decentralization, immutability, and security, the Blockchain serves as a valuable business asset.
Some advantages of Blockchain are:
• Reduced transaction fees and operational cost as the number of administrative authorities are less in number.
• Blockchain gives its users full freedom regarding their data and other activities.
• Developers use Blockchain to build more transparent portals over the web. The major reason being Blockchain is open to the public and not owned by a group of people.
Role of Blockchain on WordPress Plugin Development
WordPress is one of the most widely acclaimed platforms used for making business websites. Progressive entrepreneurs who Hire WordPress Developer to build futuristic solutions need to explore the unmatched possibilities that Blockchain technology can bring to their business. This technology can be particularly beneficial for businesses that are engaged in cryptocurrency transactions. The platform is well-aligned for building such websites as there are certain WordPress plugins that enable Bitcoin transactions. There are several other benefits that the technology can bring for business enterprises.
Let’s Check Them Out:
1. Faster Payments
Since Blockchain technology eliminates middlemen in the digital transactions, it makes payments faster and more cost-effective. Both buyers and sellers can save their money as there is no need to give a cut to these third-party intermediaries as payments get transferred on the peer-to-peer network. This feature is specifically beneficial for international businesses that need to economize on global remittances. Buyers prefer websites that are integrated with fast payment services and smooth checkout.
2. Data Storage
Another benefit that Blockchain can serve for WordPress sites relates to data storage as it enables secure cloud storage for the data files with decentralized storage solutions. While decentralization ensures that the business data is not being controlled by any authority, it is stored in an encrypted format which makes it all the more secure. At the same time, the WordPress Support is available 24/7 to offer Blockchain-based storage solutions that prove to be a cost-effective option in comparison to conventional hosting providers. Most of the huge WordPress sites generally store their data in a cloud storage solution. This increases the website scalability & flexibility.
3. Advanced Security
In addition to encrypting the business data, Blockchain technology can also be used for encrypting the login information and other sensitive content for ensuring the overall security of the WordPress site. The technology enables smart ID management to prevent identity theft and brute force attacks by unscrupulous hackers. When Identity verification done via Blockchain, it reveals that there is no possibility of brute force attacks. There are even minimum probabilities of one faulty script at the server to hack everything.
4. Reliable Feedback
Several business sites conduct online polls and surveys to get customer feedback for making improvements in their products, services, and strategies. The integration of Blockchain technology can improve better responses and drive higher engagement. It also enables the feature of anonymous voting.
5. Content Optimization
Making an investment in the content creators is based on a new algorithm. The algorithm keeps a check of the page views, likes, and other engagement factors. No one has yet figured out what the algorithm should get used for and where to source for the sum of money come. The website owner no needs to implement Word Ads and Ad Sense for obtaining content optimization services. You don’t need the support in defining the algorithm that operates the servers and handles payments.
Top Blockchain Plugins for WordPress:
Here is a list of plugins that make processing payments with Blockchain easier.
Any E-commerce website design & developed in WordPress can integrate the Coinbase WordPress plugin to allow payments using cryptocurrencies.
2. Cryptocurrency Widgets Pro
You can accept all the cryptocurrencies and digital coins for every type of transaction with the support of this plugin.
This plugin is an ideal solution for all your needs to perform professional cryptocurrency trading.
Frequently Asked Questions
1. What is the impact of Blockchain on WordPress Plugin Development?
Implementation of Blockchain will make WordPress sites highly secure and make the content publication more independent.
2. What benefits Blockchain offers to WordPress Websites?
Some benefits of implementing Blockchain with WordPress are cost efficiency, speedy transactions, global audience recognition, and the digital transformation of your business and improved security.
3. Which is the top-rated WordPress Blockchain Plugins?
Some of the best WordPress blockchain plugins are Tradex, Digital Paybox, GoUrl Bitcoin Payment, Coinbase, GoUrl WooCommerce, Bitcoin and Altcoin Wallets and BitPay, etc.
4. What is the cost of integrating Blockchain with WordPress?
The cost of Blockchain integration with WordPress depends on the size, features and functionality of the website. Estimating cost initially is not possible before analyzing the overall requirements and complexity of the website.
Blockchain technology is an innovation that is poised to bring a lot in the coming time. So it would be wise to take it up as a part of your business website. We, at WordPress India, are a leading WordPress Development Company that extends a complete range of services for building enriching business websites. Our team possesses expertise in innovative technologies too, making them the right choice if you are looking to implement Blockchain in your business solution.