Blockchain web hosting

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The recent significant rise in the price of Bitcoin has revived the imagination of many investors, but blockchain technology is not just about money. In this article, we will look at how this revolutionary technology will have a significant impact on classic web hosting services.

The concept of cryptocurrency is not rocket science. In fact, this medium of exchange is nothing more complicated than conventional currency. However, it still needs a safe and reliable environment where it can work and it is provided by the blockchain.

What is a blockchain? There are many misconceptions about this, but, for the purpose of this article, we will simply define it as a distributed spreadsheet. We are all familiar with Excel or Open Office spreadsheets, but what makes blockchain so interesting is the way it is distributed.

Like torrent files, blockchain is a peer-to-peer network where there is no need to ensure trust between parties. Thanks to modern cryptography, the trust has been maintained at a single record level rather than the party hosting it.

Okay, so now we understand the basics of the cryptocurrency revolution, but how can we ask, does it affect web hosting services? Basically, in its simplest form, it suggests selling your services not only in your local currency, but also in Bitcoin and other cryptocurrencies.

However, this is not the end of the revolution. Bitcoin and other digital currencies require electronic wallets to work, and thus have huge potential for conventional web hosting vendors. If you trust your customers and are hosting their sites, why not host their electronic wallets?

Each operation of the cryptocurrency is a real transaction between two electronic vaults. Each exchange is maintained through a wallet and you can also provide an interface for your customers to use it. This factor is important to fully understand the impact blockchain can have on your web hosting business.

That said, blockchain is not just about money. Newer versions of its protocol allow the parties to enter into any type of agreement, be it simply a television subscription or some other type of bill. They all need to be stored somewhere, and there is a place for web hosting companies to get involved.

Thus the wallet is the key to fully exploiting the potential of the blockchain. What should your next steps be once you understand this?

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