Building your startup on a blockchain has important advantages that can help your new company succeed in today's competitive market.
First, a blockchain platform provides a high level of security and transparency. The decentralized nature of a blockchain means that there is no central point of failure, making it much more difficult for hackers to compromise the system. In addition, the use of cryptographic techniques, such as digital signatures and hash functions, ensures that the data stored on a blockchain is resistant to tampering. This makes blockchain an ideal platform for building startups that handle sensitive information, such as financial firms and healthcare providers.
SolveCare is a healthcare startup built on blockchain, which is developing global healthcare solutions through a platform that helps people with payments, care and benefits.
Create your own application
Another advantage of building a startup on a blockchain is the ability to create DAPPS, decentralized applications that use a blockchain as an infrastructure layer to run autonomously and decentralized. This allows startups to create innovative applications that are not subject to the limitations of traditional centralized applications. For example, a startup can create a payment platform without the need for a trusted intermediary, allowing users to transact directly with each other.
ShoreView is a real-time, augmented reality information app about locations, weather, services, alerts, expert advice, etc. for nautical leisure and tourism. The company is in the process of creating a blockchain infrastructure to monetize the ecosystem and enhance the user experience. The $COAST token, currently in the ICO phase, will incentivize participation through a reward system to recognize the value of users' contributions to the community.
The immutability of the blockchain
Immutability is another key advantage of building a startup on a blockchain. Once a transaction is recorded on a blockchain, it cannot be altered or deleted. This provides a permanent and immutable record of all transactions, which is especially useful for startups that need an accurate and reliable record of their operations.
Cuatrecasas is a law firm pioneering the use of blockchain technology in legal advice, allowing payment for services with tokens. They also hold events and awards for innovative startups, where winners receive tokens that can be exchanged for legal advisory services.
Startups built on a blockchain can gain a competitive advantage through the use of native tokens. Native tokens are custom cryptocurrencies created for a specific platform and used to access that platform’s services and features. Native tokens can be used for a variety of purposes, such as payment of fees, participation in voting and accessibility to exclusive features. This allows startups to create a unique economic ecosystem that can attract a community of engaged users.
In conclusion, building a startup on a blockchain such as Bitxor, being a state-of-the-art, user-friendly and reliable blockchain, offers great advantages that can help a startup succeed in today’s competitive market.