How Blockchain Transactions Can Revolutionize WordPress?

by Vipe Team in WordPress Development; Published on 10.03.2022

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Over the last decade, blockchain has become one of the most frequently discussed technologies. With its innovative functions, blockchain has seriously impacted the digital environment. That’s especially true for industries where data transparency and security are of extreme importance.

WordPress is the most widely used content management system that powers more than 40% of the web. The system has also been impacted by the emergence of the blockchain and there are currently many tools for integration between the two.

Websites made through blockchain technology have their undeniable advantages, including fast transactions, reliability, lower business costs, and transparency. This is something that is getting a lot of attention lately.

That’s why, today, our WordPress development company will look more in-depth at how blockchain revolutionizes WordPress.

Everything You Need to Know about Blockchain

Most of us have heard the word blockchain at least once. The first association that comes into many people’s minds is that blockchain is the same thing as bitcoin.

Yet, this novel encryption technology gives a lot more opportunities than just payment gateway solutions. Our WordPress development agency explains all about it in the next paragraphs.

What is Blockchain?

Blockchain technology was first created in 2008 by an anonymous developer known as Satoshi Nakamoto, whose identity has not been revealed to this day. The actual realization of this revolutionary technology begins between 2016 and 2019.

Blockchain technology develops a database where users can store and transmit digital information. It stores this information in blocks that are chained between one another.

Even though it was originally developed to support bitcoin and cryptocurrencies, blockchain has proved itself to be fully capable of processing tax and medical files, legal contracts, and more.

Now, our WordPress development agency wants to make an important clarification. Blockchain technology differs from traditional databases since its networks are publicly available. They are decentralized so anyone can use them to store and transfer data. The data is also fully encrypted which guarantees the security of the blockchain.

What is Blockchain Used For?

As our WordPress development company previously mentioned, blockchain’s capabilities go far beyond cryptocurrencies, and NFTs. Let’s look more precisely at all the ways you can use blockchain to leverage your business:

Cryptocurrencies
Storage
Security
Personal Identity Verification
Smart Contracts

It is obvious that blockchain has many benefits, especially for WordPress developers. For example, cloud storage will give your web server more place to store files securely.

Another great benefit is personal identity verification. Most WordPress websites get hacked because of poor passwords. This innovative verification will allow users to decide how to access applications and information.

Our WordPress development agency believes that smart contracts are a great advantage as they allow businesses to create contracts that remain secured forever. The same goes for all of the mentioned advantages of blockchain.

How Blockchain Can Benefit WordPress?

Now that our WordPress development agency has gone over the basics of blockchain technology and how it can be used, it’s time to talk about how blockchain can benefit, even revolutionize, WordPress.

The popular CMS is flexible, secure, stable, and its flexibility is what allows it to quickly adapt to blockchain technology. Users may already take advantage of a variety of blockchain themes and plugins. Let’s look at some of the advantages of combining WordPress and blockchain.

Identity Verification

Identity verification can be quite a challenge in the digital environment. The username and password model is weak, and that is becoming a growing problem for everyone in the WordPress community. Unsafe passwords are one of the main reasons behind hacking WordPress sites.

Thanks to blockchain technology this can change. Since it is developed to encrypt personal information, blockchain users can decide whether they want to share certain data. This can be used to log into applications, verify the identity or securely share personal information with employers or service providers when necessary.

Our WordPress development agency believes this can seriously minimize the risk of getting hacked and becoming a victim of a malware threat.

Easier Payments

When you use any kind of payment system, you need to be aware of which countries you will accept payments from. Not being able to receive payments from certain locations might be a severe difficulty for companies that respond to the needs of a global audience.

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This seemingly insignificant inconvenience is enough to drive away many potential customers who are outside the supported locations. With blockchain technology, you will not experience such difficulties, as cryptocurrencies are accepted in most countries.

As our WordPress development agency previously mentioned, numerous blockchain plugins can help you integrate blockchain technology.

The plugins that are made for accepting transactions from any part of the world, can help you improve the customer experience on your WordPress website. That’s extremely useful if you want to run a multinational business or eCommerce store in WordPress.

Faster Transactions

Our WordPress development agency can’t stress enough how important speed is for your website and online business. However, there is another type of speed that is equally important for running your business efficiently. We are talking about the speed with which money gets transferred to your account after a user makes a purchase.

If you decide to implement blockchain technology after your WordPress website development, you will no longer have to wait for banks or any other kind of payment system to process your payments. It can take them days to do it, whereas blockchain transactions are ready for minutes. Plugins like Digital Paybox will allow you to securely accept and proceed with blockchain payments.

Secure File Storage

Currently, WordPress stores files in the media library on the same server that WordPress runs on, or in a service like Dropbox or Amazon s3. This is inevitably a good strategy after you have built your website, according to our WordPress development agency.

However, keep in mind that by implementing this strategy, you risk the security of your data due to the centralized storage of files. Blockchain, on the other hand, offers decentralized cloud storage. Data stored within decentralized networks is encrypted so that only the owner can read it.

This will ensure greater security for storing files after creating a WordPress website. One of the most popular blockchain-based file storage services is Storj. Users can use it to ensure peace of mind and security.

Blockchain Technology Can Transform Your WordPress Website!

Blockchain technology is being used by an increasing number of businesses these days. Integrating its usability and security into WordPress will ensure that your company stays ahead of the competition and meets the high expectations of today’s users.

With all of the benefits that blockchain can bring to your WordPress website, the way we utilize the content management system will undoubtedly alter. WordPress now has blockchain plugins and themes available to allow users to experiment with new features.

We hope that this article gave you an interesting look at the future development of the platform. We also want to remind you that if you are looking for a professional WordPress development agency to get the site of your dreams, then you are on the right page.

Our skilled WordPress developers understand the importance of staying relevant and up-to-date with the latest technological advancements. Here, at Vipe Studio, we offer an expert blockchain transaction service that can leverage your business. If you are ready to grow your business in the digital environment, do not hesitate to contact us.