INCORPORATION OF BLOCKCHAIN IN WORDPRESS
The world received the birth of blockchain technology through Satoshi Nakamoto, a pseudonym, who started the blockchain journey in 2008 and made it popular with Bitcoin, the most popular cryptocurrency among many others like Ethereum, Litecoin, Cardano as seen in crypto books and exchanges like Binance, in the cryptocurrency market.
HOW BLOCKCHAIN WORKS
How blockchain works is not as sophisticated as it appears. Essentially, a blockchain is a distributed ledger of data that is available to everyone and consists of blocks containing data linked together to form a chain. Blockchain provides a decentralized peer-to-peer (P2P) network architecture, keyless signature technology, and smart contract self-enforcement mechanisms, among other features which are very pertinent for data storage, security, and procedural transparencies. This new technology is expected to increase the safety and usability of websites in terms of their severity in terms of applications. Surprisingly, there have been a lot of attempts recently toward incorporating blockchain technology into WordPress and other content management systems (CMS). Let’s look at how WordPress can be fine-tuned for greater digitalization using blockchain.
WHAT DOES WORDPRESS GET FROM BLOCKCHAIN?
Cryptocurrency drove blockchain technology into the hall of fame. Most notably, Bitcoin has not been confined to the purchase and sale of cryptocurrencies like as you buy BNB, Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies, where the majority of these coins are held for a time or traded on futures for profit. Looking at the broader picture through its good qualities, blockchain technology has been vast in its application to many other sectors such as music, solar farms, and even its use as a medium of payment in day-to-day transactions, which has been growing popular recently. As a result, it can significantly improve WordPress, as seen below.
SECURITY IS PROVIDED BY BLOCKCHAIN
Here are a variety of blockchain applications and one of the benefits it may provide WordPress is security. WordPress has been a top target for hackers due to its high popularity among many other CMS. When the world is hit, your site is hit as well, which means WordPress must be vigilant about security. Numerous stories surround this CMS, like claims that WordPress remains the most infected website CMS (83 percent of all websites disinfected in 2017), claims that WordPress breaks down every three months, and so on. Encrypting sensitive data and login information, exchanging data selectively, and validating identification before any kind of transaction are all ways that blockchain may assist the WordPress community in hardening overall security allowing secure file storage of the Content Management System.
BLOCKCHAIN OFFERS SPEEDY TRANSACTIONS AND NETWORKS
Transactions involving the sale of things, such as plugins, can be sped up with blockchain. Blockchain has long been noted for its quick transactions; according to block statistics, blockchain-based transactions are 388 times faster and 127 times cheaper than traditional transactions. How do you envision a user experience where consumers pay with cryptos and transactions are almost instantaneous, without having to rely on banks and payment gateways that take time to settle transactions? There has recently been a slew of companies that accept Bitcoin payments for WordPress plugins, including GoUrl Bitcoin Payment Gateway, BitPay Gateway, and a slew of others for other CMS.
SMART CONTRACTS UPSIDES AND MULTINATIONALITY
Smart contracts provide privacy and trust by protecting and concealing the contents of parties as they perform transactions. It also enables businesses to accept payments from anywhere in the world. There are no geographical limitations because blockchain provides alternatives to traditional payment methods. Many regions have transaction restrictions, which have created a bottleneck for many firms and have a negative impact on the user experience. This isn’t an issue with blockchain technology because it’s universally acknowledged around the world.
As the world revolves around smart contracts, it would be prudent to go digital with the appealing qualities of blockchain capable of boosting WordPress to a new user experience where consumers have less to worry about WordPress. WordPress adopting the culture of blockchain technology can only help it prepare for the CMS’s rapidly coming future.