Blockchain has become one of the most widely discussed technologies in the past few decades. Blockchain’s innovative functions and operations have immensely impacted the entire digital landscape. It is especially true for industries where data transparency and security are equally important.
WordPress is one of the most frequently used content management systems, empowering almost 40% of the world wide web (WWW). The emergence of the blockchain has heavily impacted the system, and there are various tools for integration between the two.
Websites developed with blockchain technology enjoy undeniable benefits, including faster transactions, reliability, lower business costs, and transparency. It is something that gets much attention later. That’s why WordPress development agencies look more in-depth at how Blockchain transforms the WordPress site to the next level.
“Blockchain” is linked with all business niches. It has become a platform for purchasing Ethereum or relevant products in the cryptocurrency market segment. Hence, this article discusses blockchain transactions on the WordPress platform.
What is Blockchain & How Does it Work?
Generally, blockchain is a tamper-proof-based encryption technique. Blockchain technology revolves around a decentralized suite of distributed ledger-based technologies capable of recording and tracking valuable data. It is nearly impossible to alter a blockchain. It is expected to rule the digital landscape in the future as several businesses can leverage it for a safer, more secure, and more transparent approach. It simply stores data in blocks, and this data cannot be triggered or changed.
The time-stamp of blockchain exchange data takes place on the platform. Once information is entered on the blockchain, everyone can view it, but it cannot be altered. Every block that makes up that chain will be affected. Perhaps, many see this technology as a transparent option to conduct activities.
For example, blockchain plugins are being developed to make it easier for users to conduct safe and secure cryptocurrency transactions. The people who made WP EasyPay, an integrated payment solution for WordPress, are also working on making cryptocurrency and blockchain payments work on the WordPress platform. This will make it easier for people to buy and sell things on WordPress.
Blockchain technology ensures that information is spread across the network instead of being stored at a centralized location. Furthermore, it stores in blocks, ensuring easier accessibility and traceability metrics. One block is attached to the other to make a chain, and that’s why it is called a distributed ledger.
In the same way, information is stored in books. It can be easily referenced how data is stored in this distributed ledger. However, the only difference is that anyone can alter a book, but no one can alter this distributed ledger.
Key Features of Blockchain
If you want to appreciate the functioning of Blockchain technology, which highlights various features, is a vital aspect to proceeding ahead. It might be difficult to exhaust all the mesmerizing features of blockchain technology. The following are some of them:
- Visualized hash trees
- Customization of certificate header
- Both public and private certificates
- Customizes the certificate header
- Users, posts, pages, and custom post stamps
How Does Blockchain Benefit WordPress?
As technology advancements have gone beyond the cryptocurrency market segment to take over the world, blockchain themes are now available for the WordPress platform. Blockchain will impact WordPress in several ways.
For instance, if you’re a cryptocurrency user and tempted to accept Bitcoin or Ethereum as a payment gateway. Blockchain would be your sole contender in the marketplace. It provides a transparent, safer, faster, and much more accessible way of life.
1) Cost Effectiveness
The incorporation of Blockchain principles and tactics into WordPress will eliminate the requirement for middleware. It not only makes things cheaper but also fosters trust in the records kept in the backup. It also helps one seek to accept Bitcoin or Ethereum as payment via the WordPress website to reduce costs. When compared to the current payment gateway solutions, Bitcoin and other cryptocurrencies have lower transaction costs.
2) Quick & Fast
As there isn’t any intermediary medium involved, cryptocurrency can be sent instantly from sender to receiver. You can securely and swiftly perform that if you want to buy Ethereum using your WordPress website. With blockchain technology, you don’t need to wait for your banks or gateways to process multiple payments on your transactions.
3) Global Presence & Acceptability
Most countries around the world accept cryptocurrency; unlike other eCommerce payment methods, there are no restrictions on receiving Bitcoin or other crypto payments. Also, you can buy Ethereum, Bitcoin, or any other cryptocurrency via your WordPress website.
4) Enormous Amount of Money
Significantly, Blockchain provides multiple benefits to the cryptocurrency market segment because it saves people from significantly losing multiple profits when cryptocurrency’s value fluctuates. WordPress powers more than 30% of the websites that exist on the Internet.
Most people visit their sites to create their websites. By keeping this information, you can benefit from this and make enormous profits from blockchain technology. You can also work as a merchant for people seeking to buy Ethereum blockchain payments.
5) Improved Security Metrics
Today, WordPress is considered a leading Content Management System (CMS) website, empowering over 80% of the websites that disappeared in the Q4 of 2017.
Blockchain would be a great help to WordPress in controlling the security of the system and limiting what hackers and crackers can do.
6) Safe & Secure Storage
Blockchain technology features cloud storage, which is the most relevant and reliable today. WordPress users can now safely and securely store more data than ever before thanks to Blockchain.
WordPress is already considered a well-preferred and suitable content management system. Hence, adding blockchain to it would be considered a welcome development. So, WordPress would be able to reach its full potential and grow in a way that is safer, more secure, and smooth.
In a nutshell, blockchain technology is being used to increase the number of businesses these days. It integrates its usability and security metrics into WordPress, ensuring that your company stays ahead of the competition and meets the high expectations of currently prevailing users. Keeping all the benefits that Blockchain can bring to your WordPress website in mind, the way we use the content management system will undoubtedly trigger new features and functions. So, the WordPress platform has added blockchain themes and plugins so that users can try out new features and many other things.