The traditional approach to real estate transactions no longer works, the whole industry is developing in leaps and bounds 🏬 Today blockchain real estate applications are gaining popularity! It's time to innovate your processes to stay relevant.

The traditional approach to real estate transactions no longer works, the whole industry is developing in leaps and bounds 🏬 Today blockchain real estate applications are gaining popularity! It's time to innovate your processes to stay relevant.

Blockchain In Real Estate: How The Technology Changes The Industry | Agilie

Dive into AI solutions for fintech. Learn about AI use cases, roles, and benefits in fintech.&nbsp;

Dive into AI solutions for fintech. Learn about AI use cases, roles, and benefits in fintech. 

AI in Fintech: How is AI Used in Fintech Industry? | Agilie

The banking industry has changed forever: we can no longer imagine a bank without its mobile app. It&rsquo;s a tool, which helps to expedite processes and makes the interaction with the bank more convenient. The brightest example of a successful solution is Monzo. In this article, we are going to find out what clients like about its <a href="https://agilie.com/blog/how-to-create-a-mobile-banking-app">digital banking app</a>. In addition, we&rsquo;ll consider the main alternatives to Monzo.&nbsp;&nbsp;&nbsp;&nbsp;
<h2 dir="ltr">What is Monzo?</h2>
Monzo is a popular mobile bank, which practices a modern approach to the provision of banking services. The financial company doesn&rsquo;t have branches: all operations are carried out through its mobile application. It allows founders to decrease costs and commissions for clients.&nbsp;
The general principle of work is the same as in other banking institutions: users make instant transactions, open deposits, take loans, and so on. But all they need to do is just open the application.
The digital banking app of Monzo helps clients enhance their budgeting and organize finances. The most useful features we would like to note are:
<ul>
<li dir="ltr" aria-level="1">
User-friendly graphics that allow understanding spending better;
</li>
<li dir="ltr" aria-level="1">
Splitting bills;
</li>
<li dir="ltr" aria-level="1">
Keeping track of who owns the money you sent;
</li>
<li dir="ltr" aria-level="1">
Automatic transferring money to a savings account;
</li>
<li dir="ltr" aria-level="1">
Receiving notifications if certain bills are higher than your set limit;
</li>
<li dir="ltr" aria-level="1">
Scheduling transactions.
</li>
</ul>
The variety of wonderful features is one of the reasons why the bank is so popular. However, there are numerous other players in the market. Let&rsquo;s find out the best alternatives to Monzo.
<h2 dir="ltr">5 Alternatives to Monzo</h2>
<h3 dir="ltr">Revolut</h3>
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676580883511.png" alt="Alternatives to Monzo Revolut" width="796" height="597" />
A perfect solution if your main task is to transfer money with minimum charges. Revolut is operating in 130 countries, so you can easily use its card abroad. Moreover, the bank offers users the opportunity to buy and hoard cryptocurrencies such as Bitcoin, Ether, and Litecoin.
Revolut was founded in 2015 as a fintech startup, so the company is still developing. It explains the presence of certain relevant problems, which will be solved after a while (we hope).
Pros:
<ul>
<li dir="ltr" aria-level="1">
Holding money in several currencies;
</li>
<li dir="ltr" aria-level="1">
Ever-expanding set of features (crypto trading added in 2019, virtual cards, and so on);
</li>
<li dir="ltr" aria-level="1">
Premium subscriptions with different perks (for example, travel insurance).
</li>
</ul>
Cons:
<ul>
<li dir="ltr" aria-level="1">
Strict security rules (your account may be temporarily frozen without notifications).
</li>
<li dir="ltr" aria-level="1">
Poor client support. Perhaps, the company doesn&rsquo;t have enough resources to provide users with great new features and qualitative support at the same time.&nbsp;
</li>
</ul>
Anyway, Revolut is one of the best alternatives to Monzo taking into account its mobile application and features offered to users.
Link: <a href="https://www.revolut.com/" target="_blank" rel="nofollow noopener">Revolut</a>
<h3 dir="ltr">The credit thing</h3>
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676580896585.jpg" alt="Alternatives to Monzo The credit thing" width="1024" height="512" />
An app-based market player, which features not only the full set of banking services but also its human customer service (unlike Revolut). An important remark: The Credit Thing isn&rsquo;t actually a bank; this is an e-money agent of PrePay Technologies Ltd authorised by the Financial Conduct Authority.
The company appeared in 2020. And it has a good chance to become one of the main alternatives to Monzo.
Pros and benefits:
<ul>
<li dir="ltr" aria-level="1">
Protecting money from fraud. If you notice something suspicious, the team of The credit thing is always on hand to help;
</li>
<li dir="ltr" aria-level="1">
Low fees or their absence (even abroad);
</li>
<li dir="ltr" aria-level="1">
Full control over your card in the mobile application;
</li>
<li dir="ltr" aria-level="1">
Excellent customer support (in WhatsApp or iMessage);
</li>
<li dir="ltr" aria-level="1">
Detailed expanses in graphics.
</li>
</ul>
Cons:
<ul>
<li dir="ltr" aria-level="1">
A very young startup, so it has enough things to improve.
</li>
</ul>
Link: <a href="https://thecreditthing.com/" target="_blank" rel="nofollow noopener">The credit thing</a>
<h3 dir="ltr">Starling Bank</h3>
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676580914605.png" alt="Alternatives to Monzo Starling Bank" width="1482" height="750" />
The solution for instant payments and other financial operations was launched in March 2017. Today, Starling Bank is serving more than 2 million accounts including 350 thousand accounts of small businesses.
The company has earned the top customer score of 88%. Its services are related to both individual clients and small/middle companies. All transactions are easily performed online with the help of the digital banking app.
Pros:
<ul>
<li dir="ltr" aria-level="1">
Good control over your funds (you can restrict or block some payments);
</li>
<li dir="ltr" aria-level="1">
Paperless statements;
</li>
<li dir="ltr" aria-level="1">
Free cash withdrawals abroad;
</li>
<li dir="ltr" aria-level="1">
No foreign transaction fees;
</li>
<li dir="ltr" aria-level="1">
The opportunity to integrate your account with marketplaces.
</li>
</ul>
Cons:
<ul>
<li dir="ltr" aria-level="1">
The integration is available on platforms, which Starling bank cooperates with;
</li>
<li dir="ltr" aria-level="1">
Only UK residents are able to open accounts.
</li>
</ul>
Link: <a href="https://www.starlingbank.com/" target="_blank" rel="nofollow noopener">Starling Bank</a>
<h3 dir="ltr">First Direct</h3>
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676580968604.png" alt="Alternatives to Monzo First Direct" width="1478" height="754" />
It&rsquo;s one of those rare true banks, which operate totally online. First Direct was created in 1989, so it has proven its reliability.
There are several reasons why we have included the financial establishment in the list of the main alternatives to Monzo:
<ul>
<li dir="ltr" aria-level="1">
Wide range of services (from current accounts and mortgages to worldwide insurance and ID theft assistance);
</li>
<li dir="ltr" aria-level="1">
Amazing customer support;
</li>
<li dir="ltr" aria-level="1">
Absence of bots (all decisions regarding your account are made by real people);
</li>
<li dir="ltr" aria-level="1">
Convenient, easy-to-use application and website.
</li>
</ul>
However, the bank also has a few drawbacks:
<ul>
<li dir="ltr" aria-level="1">
First Direct accepts new clients only with good credit records;
</li>
<li dir="ltr" aria-level="1">
&pound;10 fee if your turnover on your account is less than &pound;1,000 per month.
</li>
</ul>
Thus, we recommend looking up to First Direct because this company has proven the effectiveness of its strategy.
Link: <a href="https://www1.firstdirect.com/" target="_blank" rel="nofollow noopener">First Direct</a>
<h3 dir="ltr">Monese</h3>
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676581039760.jpg" alt="Alternatives to Monzo Monese" width="1600" height="900" />
Monese is a digital bank founded in 2015. It&rsquo;s a great option if you wish to set up a UK account without the need to prove your address, credit story, and so on. The number of services is enough for most people (the bank is constantly expanding the range of features). Besides GBP, clients can open a EUR account as well.
Pros:
<ul>
<li dir="ltr" aria-level="1">
Quick and simple setup;
</li>
<li dir="ltr" aria-level="1">
Smooth application with an excellent user experience;
</li>
<li dir="ltr" aria-level="1">
Premium subscription options with extra privileges.
</li>
</ul>
Cons:
<ul>
<li dir="ltr" aria-level="1">
No deposit guarantee (no a banking license);
</li>
<li dir="ltr" aria-level="1">
Limits on withdrawals, top-ups, and spending money;
</li>
<li dir="ltr" aria-level="1">
Insufficient customer support.
</li>
</ul>
The bank is betting on its application, which, by the way, deserves praise.
Link: <a href="https://monese.com/gb/en" target="_blank" rel="nofollow noopener">Monese</a>
<h2 dir="ltr">Summing up</h2>
Nowadays, the basis of any financial company is a digital banking app. Clients wish to operate completely online: they avoid visiting branches by all means. The best alternatives to Monzo will help you figure out what to improve in your company and mobile app. You can adopt certain tactics and approaches to increase customer loyalty, expand the range of services, and, as a result, boost your development.

Feel free to contact us to discuss your future or existing project. One of our specializations is the financial industry, so we are able to bring to life any of your ideas. Moreover, we&rsquo;ll consult you about must-have features to guarantee your success.

<span style="color: #0d0d0d; font-family: S&ouml;hne, ui-sans-serif, system-ui, -apple-system, 'Segoe UI', Roboto, Ubuntu, Cantarell, 'Noto Sans', sans-serif, 'Helvetica Neue', Arial, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Noto Color Emoji'; font-size: 16px; white-space-collapse: preserve; background-color: #ffffff;">Uncover the best alternatives to Monzo through our comprehensive and detailed analysis in this enlightening article.

Monzo is a popular digital bank, which attracts clients with its thoughtful application 📱 In this article, we have gathered the best alternatives to Monzo. We believe they will help you improve your digital product 🔝

The best alternatives to Monzo with a high-quality digital banking app

What are healthcare IoT applications? How do they improve the processes of hospitals and other medical facilities? 🏥 How to implement IoT in the healthcare business? We answer these and other questions with our new article.

What are healthcare IoT applications? How do they improve the processes of hospitals and other medical facilities? 🏥 How to implement IoT in the healthcare business? We answer these and other questions with our new article.

IoT in Healthcare | Popular Healthcare IoT Applications

Modern solutions have penetrated into numerous industries including the financial field. Every day we interact with various gadgets and do not even realize how they improve our life and the state of the economy. In this article, we are going to consider the IoT in banking: the benefits of different systems and reasons to start their implementation.
<h2 dir="ltr">What is IoT Technology?</h2>
The IoT technology in any enterprise is a set of devices connected to the Internet. The holistic system is managed by special software with or without Artificial Intelligence (AI). True smart solutions, which we deploy, are able not only to collect but also to analyze data by representing it in a meaningful way.
Without a doubt, the Internet of Things is a leading technology in the near future. Specialists have estimated that the IoT market had exceeded $500 million in 2021. And the growth is going to continue: by 2027, the market will cross the $2 trillion mark.
<h2 dir="ltr">Benefits of the IoT in the Banking Industry</h2>
The Internet of Things is usually associated with smart homes but actually, the technology has a significant spread in the production and service spheres. Let&rsquo;s find out what the IoT might offer you as an entrepreneur and your clients.
<ul>
<li dir="ltr" aria-level="1">
Personalized service. The IoT systems are about gathering and analyzing data related to the needs and habits of your audience. As a result, you are able to provide services that would meet all users&rsquo; requirements. According to some research, one in three millennials can easily change the bank if the convenience of use and banking offers don&rsquo;t match the initial expectations.
</li>
<li dir="ltr" aria-level="1">
Boosting business processes. The mainstream among the mobile banking trends is the refusal of human labor because it&rsquo;s too expensive and irrational. Automated systems can easily replace a part of employees by processing requests and operations. A good example is a time for opening a new account, which is reduced to five minutes in some modern banks and is performed in a mobile app.
</li>
<li dir="ltr" aria-level="1">
Simplified switching to the online business model. There are financial establishments, which don&rsquo;t even have branches: they are operating completely online saving a decent amount of income. IoT solutions allow you to adapt faster and easier to the ever-changing world.
</li>
</ul>
Moreover, implementing IoT solutions lays the foundation for a structural transformation of your business in the future by simplifying it.
<ul>
<li dir="ltr" aria-level="1">
Expanding the range of services. If you know the hobbies and preferences of customers, you can offer more services. You are able to link the financial industry to channels where users leave their money. The bottom line is to provide bonuses and financial rewards to an audience segment, which takes advantage of the offers of your partners. The list may include gyms, restaurants, train stations, and so on.
</li>
<li dir="ltr" aria-level="1">
Simplifying the decision-making process. The main benefit of IoT in banking is receiving answers to numerous questions about your clients. Thanks to the IoT, banks get a huge amount of information that helps them make the right decisions regarding the launch of new products and development in general.
</li>
<li dir="ltr" aria-level="1">
Eliminating fraud. It&rsquo;s a merit of technologies that enhance the security level.
</li>
</ul>
Each of the mentioned things leads to one crucial goal of any company: increasing revenue by improving customer loyalty.
<h2 dir="ltr">How to Apply the Internet of Things to Banking?</h2>
It&rsquo;s impossible to cite all existing scenarios of using IoT technologies within the article. So, we are going to list the brightest ones.
<h3 dir="ltr">Security</h3>
A high-security level is the basis of the financial industry. So, in order to have a clue about who is making a transaction or trying to access a certain resource, companies must perform authentication.
Technologies aimed at your clients:
<ul>
<li dir="ltr" aria-level="1">
Logging to ATMs using a smartphone. Let users scan a QR code on the ATM screens to enter their personal accounts. It will allow your clients to have an expanded range of services and secure their operations;
</li>
<li dir="ltr" aria-level="1">
Approval of payments. If the system sees a new recipient and the amount of money is decent, it may ask for the transaction approval through a phone call or an SMS code. The first method involves a robot that requests the user to tap, for example, the number 1 on the keyboard.
</li>
</ul>
IoT in banking aimed at your employees:
<ul>
<li dir="ltr" aria-level="1">
Video surveillance. It&rsquo;s not necessary to keep records 24/7: smart systems allow starting the process after detecting movements. Moreover, there are solutions, which are able to recognize people (of course, if they are close enough to the camera and are looking straight into the lens);
</li>
<li dir="ltr" aria-level="1">
Pass system. To know who comes in and out, you should take care of passcards. All the employee needs to do is scan it. After that, the data about the person will be recorded and the door will open.
</li>
</ul>
Thus, The Internet of Things provides strong data protection with multiple authentication options.
<h3 dir="ltr">Expediting assistance</h3>
Modern technologies make visiting bank branches more organized: people can sign up for an electronic queue in a special self-service terminal. The computer will display a message when it&rsquo;s your turn.
In order to save time and money, modern banks have refused the use of paper bills and documents: the operations are performed electronically; clients sign documents on a tablet and then receive a receipt by email or in a bank application. So, the benefits of IoT in banking are obvious: such an approach to the assistance process is fast and eco-friendly.
<h3 dir="ltr">Offering a unique user experience</h3>
Wallets look different nowadays: it&rsquo;s usually smartphones with NFC chips. However, there are other options: smart bracelets, smartwatches, or even rings! Everything of these is a big part of the Internet of Things, which generates a new user experience.
The last thing we would like to mention is control over cars/planes, which are in rent. IoT solutions allow tracking their locations and parameters inside them such as temperature, humidity, and so on. It&rsquo;s important to keep the transport in proper condition.
<h2 dir="ltr">Main Risks You Should Be Aware Of</h2>
We have listed numerous reasons why you should implement IoT systems. However, we are going to be honest with you: there are certain risks if you entrust the development to an unprofessional team.
<ul>
<li dir="ltr" aria-level="1">
Using uncertified hardware. Such devices have an insufficient level of cyber security and do not often receive updates. As a result, storing data on them becomes insecure.
</li>
<li dir="ltr" aria-level="1">
Lack of visibility and device management. Unmonitored and untracked devices cause suffering. IoT in banking is about convenience and complete control, not about trying to make solutions work.
</li>
<li dir="ltr" aria-level="1">
Stealing data. Such endeavors should be prevented at the hardware and software levels. Modern gadgets have special chips, which make it impossible to compromise information.
</li>
<li dir="ltr" aria-level="1">
Ill-considered decisions at the very beginning of implementation. It&rsquo;s a big problem taking into account the conservatism of the banking industry. You cannot sometimes follow the mobile banking trends because your financial establishment requires preparation. And it may cost an arm and a leg.
</li>
</ul>
Agilie is here to help you implement all your ambitions despite the existing challenges. We know what a quality product should look like and how to ensure an unprecedented level of security.

Our team has the necessary expertise and resources, so feel free to get hold of our manager to start working on your project. We can also help in <a href="https://agilie.com/blog/how-to-create-a-mobile-banking-app" target="_blank" rel="noopener">creating a fintech app</a>.&nbsp;

Examples of using the IoT in the fintech industries: the main benefits

The benefits of IoT in banking are obvious: modern technologies are the only way to automate most processes  and expedite the service for your clients  So, learn from the article how the IoT can help in doing your business

IoT in Banking and Fintech: the Main Benefits and Bright Examples

The only craving after a hard working day is a quick and tasty dinner on your table. Luckily, the modern world offers such an opportunity: a few taps in an application and delicious meals are served. In this article, we would like to consider the best food delivery service apps: their functionality and business models so that you could lay the foundation of your future solution. Moreover, we are going to take a look at the industry as a whole (spoiler: the takeaway market has been growing extremely rapidly over the past few years).
<h2 dir="ltr">What Is a Food Delivery Service?</h2>
Such services involve various business models but the bottom line is the same: companies provide clients with the opportunity to get meals or the necessary ingredients in the shortest possible time. The list of the best food delivery apps can include:
<ul>
<li dir="ltr" aria-level="1">
Intermediaries who don&rsquo;t own restaurants or cafes. They launch applications and just gather orders. Delivery is a duty of the partners;
</li>
<li dir="ltr" aria-level="1">
Supermarkets and/or farms, which offer food products without having to leave your warm house;
</li>
<li dir="ltr" aria-level="1">
Restaurants/fast-food owners. They cook meals and then deliver them;
</li>
<li dir="ltr" aria-level="1">
Delivery companies. They are intermediaries but with their own couriers.
</li>
</ul>
COVID-19 has propelled the food delivery industry a few years into the future, as numerous people in lockdown ordered treats online. The entire food delivery app industry continues growing as it becomes more and more popular, and it is expected to reach $165 billion market size by 2029. If you&rsquo;re thinking about entering the industry, you&rsquo;ll want to study the available applications and learn from their success.
<h2 dir="ltr">7 Best Food Delivery Service Apps</h2>
<h3 dir="ltr">Postmates</h3>
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676558965161.png" width="1980" height="1010" />
This platform is among the best meal kit delivery services, which is an intermediary. Its solution has united multiple restaurants, so users can order meals from different places in one app.
Postmates was invented in 2011. Today in 2024, it has more than 10 million active users, who order six million items a month. The company&rsquo;s vision is to make deliveries fast and convenient.&nbsp;
Pros:
<ul>
<li dir="ltr" aria-level="1">
A section with tips given by customers themselves;
</li>
<li dir="ltr" aria-level="1">
Daily planner;
</li>
<li dir="ltr" aria-level="1">
No rating system (you don&rsquo;t get blamed for restaurant mistakes).
</li>
</ul>
Cons:
<ul>
<li dir="ltr" aria-level="1">
Low rate for waiting time ($0.10 per minute);
</li>
<li dir="ltr" aria-level="1">
Slow service (from time to time, it depends on the workload of restaurants).
</li>
</ul>
<h3 dir="ltr">Munchery</h3>
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676559052478.png" width="1766" height="744" />
This service takes pride in providing inexpensive, healthy, and professionally cooked meals. Created in 2011, the company has a unique offer: its menu includes both food sets and pre-made meals right to the customers&rsquo; doorsteps. The unique feature of Munchery is fast 15-minute dishes. Thus, it&rsquo;s one of the best food delivery service apps if you wish to satisfy your hunger in the shortest possible time.
There are two options to buy a meal:
<ol>
<li dir="ltr" aria-level="1">
Order as a guest without a discount;
</li>
<li dir="ltr" aria-level="1">
Log in to get a 15% discount.
</li>
</ol>
Pros of Munchery:
<ul>
<li dir="ltr" aria-level="1">
Variety of menu daily;
</li>
<li dir="ltr" aria-level="1">
Premade meal options as well as food kits;
</li>
<li dir="ltr" aria-level="1">
Quick cooking (for less than 15 minutes);
</li>
<li dir="ltr" aria-level="1">
Opportunity to schedule deliveries a week ahead.
</li>
</ul>
Cons:
<ul>
<li dir="ltr" aria-level="1">
Ready-made meals are being offered in certain states in the US;
</li>
<li dir="ltr" aria-level="1">
No gluten, vegan, or vegetarian options.
</li>
</ul>
<h3 dir="ltr">Freshly</h3>
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676559159843.webp" width="1024" height="417" />
It&rsquo;s a perfect option for people who are terrified by the prospect of cooking. With Freshly, you get ready-made, gluten-free meals, which are already portioned to enjoy in a single sitting.
The service was founded in 2012. After 5 years of development, Freshly was valued at $950 million and became available in every USA city.
Five simple steps to make an order:
<ol>
<li dir="ltr" aria-level="1">
Choose a meal plan;
</li>
<li dir="ltr" aria-level="1">
Enter your address and email to create an account;
</li>
<li dir="ltr" aria-level="1">
Choose your favorite meals.
</li>
<li dir="ltr" aria-level="1">
Get your dishes, which you can put in the refrigerator and then heat them when you want.
</li>
</ol>
Pros of the service:
<ul>
<li dir="ltr" aria-level="1">
The appropriate solution for singles and couples;
</li>
<li dir="ltr" aria-level="1">
Taking care of allergy sufferers and people losing weight;
</li>
<li dir="ltr" aria-level="1">
Huge variety of meals;
</li>
<li dir="ltr" aria-level="1">
Simplified meal planning;
</li>
<li dir="ltr" aria-level="1">
Dishes cooked by experienced chefs;
</li>
<li dir="ltr" aria-level="1">
Natural and healthy ingredients.
</li>
</ul>
Cons:
<ul>
<li dir="ltr" aria-level="1">
Pretty expensive if you are a family person;
</li>
<li dir="ltr" aria-level="1">
No vegan or vegetarian options;
</li>
<li dir="ltr" aria-level="1">
Small portions.
</li>
</ul>
Thus, it&rsquo;s one of the best meal kit delivery services in the market.
<h3 dir="ltr">DoorDash</h3>
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676559293100.png" width="1784" height="772" />
Nowadays, DoorDash is a leader in the USA with 34% of the market share. In 2021, it went public on the New York Stock Exchange with a valuation of $72 billion. The service has more than 25 million users and is doing everything possible to increase its number.
The features, which users adore:
<ul>
<li dir="ltr" aria-level="1">
Artificial Intelligence recommendations. People get a set of dishes based on the previous choice;
</li>
<li dir="ltr" aria-level="1">
Live tracking to see where exactly is your courier;
</li>
<li dir="ltr" aria-level="1">
Pre-delivery option so that customers could schedule their orders.
</li>
</ul>
Pros:
<ul>
<li dir="ltr" aria-level="1">
High convenience thanks to the modern technologies;
</li>
<li dir="ltr" aria-level="1">
Numerous restaurants in the catalog;
</li>
<li dir="ltr" aria-level="1">
Prevalence in the market that means presence even in small cities.
</li>
</ul>
Cons:
<ul>
<li dir="ltr" aria-level="1">
DoorsDash drivers are not accepting small orders or orders that are far away;
</li>
<li dir="ltr" aria-level="1">
Вependence on couriers who have a certain autonomy.
</li>
</ul>
DoorDash has been constantly improving the user experience of the app because it is the basis of its business model. This is why we have included the solution in the list of the best food delivery apps.
<h3 dir="ltr">Instacart</h3>
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676559369248.png" width="1786" height="756" />
Since the start of COVID-19, Instacart has become an essential service for millions of Americans trapped at home. It has an estimated 9,6 million active users and over 500 thousand shoppers.&nbsp;
The set of features is similar to DoorDash which guarantees convenience and ease of use.
Pros:
<ul>
<li dir="ltr" aria-level="1">
Available throughout the United States and 9 Canadian provinces;
</li>
<li dir="ltr" aria-level="1">
Subscription option to save money;
</li>
<li dir="ltr" aria-level="1">
Partnership with several large grocery store chains.
</li>
</ul>
Cons:
<ul>
<li dir="ltr" aria-level="1">
Presence only in middle and big cities;
</li>
<li dir="ltr" aria-level="1">
Delivery and service fees are applied at the same time.
</li>
</ul>
<h3 dir="ltr">ChowNow</h3>
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676559428153.png" width="1478" height="756" />
This is a commission-free online ordering platform built for restaurants to connect them with customers. ChowNow is one of the best meal kit delivery services, which makes money from monthly or yearly subscriptions. It&rsquo;s worth mentioning that ChowNow doesn&rsquo;t have couriers.
Thanks to the cooperation with more than 6 thousand catering establishments, ChowNow offers any cuisine imaginable. The company covers more than 12 thousand locations with its software and has about 7 million customers.
Pros:
<ul>
<li dir="ltr" aria-level="1">
Special software for the ordering process, which embeds into partners&rsquo; systems;
</li>
<li dir="ltr" aria-level="1">
Huge variety of different dishes.
</li>
</ul>
Cons:
<ul>
<li dir="ltr" aria-level="1">
Mediocre convenience while ordering (a new window opens every time to complete checkout through ChowNow);
</li>
<li dir="ltr" aria-level="1">
No guarantee of fast delivery because it&rsquo;s not the responsibility of ChowNow.
</li>
</ul>
<h3 dir="ltr">Just Eat Takeaway</h3>
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676559508644.png" width="1762" height="748" />
Compared to the vast majority of players in the market, Just Eat was wholly focused on technologies. The company offers special software, which allows connecting businesses in the UK to the Just Eat platform. Despite the advent of certain competitors namely Uber Eats and Deliveroo, Just Eat Takeaway is still extremely popular.
The service has a 37% year-on-year increase. It has about 100 million active users.
Main pros:
<ul>
<li dir="ltr" aria-level="1">
Database of numerous great eateries;
</li>
<li dir="ltr" aria-level="1">
Convenient user interface;
</li>
<li dir="ltr" aria-level="1">
Own integration system with companies.
</li>
</ul>
Cons:
<ul>
<li dir="ltr" aria-level="1">
Possible delays in delivery (it is a task of restaurants);
</li>
<li dir="ltr" aria-level="1">
Not cheap pleasure (15% is charged from each order).
</li>
</ul>
<h2 dir="ltr">First Steps to Create a Food Delivery Resource</h2>
As you can see, there are different business models for the delivery services. So, the first step to launching your own business is to choose a certain approach to the work. But which one? To decide on the best choice in your market, we offer the Discovery phase. The research will allow you to avoid entering an oversaturated market that usually entails significant unreasonable expenses. The article &ldquo;<a href="https://agilie.com/blog/project-discovery-phase">Why You Need to Start Your Project with the Discovery Phase?</a>&rdquo; will help you put in the loop about the <a href="https://agilie.com/expertise/discovery" target="_blank" rel="noopener">Discovery service</a>. Our team will estimate not only the cited list of the best food delivery apps but also other popular solutions.
If you wish to read more about building a food delivery app, please, follow the link: &ldquo;<a href="https://agilie.com/blog/how-to-build-a-food-delivery-on-demand-app-like-postmates-and-zomato">How to build a food delivery on-demand app like Postmates and Zomato</a>&rdquo;. Don&rsquo;t hesitate to contact us to clarify certain things.

<span style="color: #0d0d0d; font-family: S&ouml;hne, ui-sans-serif, system-ui, -apple-system, 'Segoe UI', Roboto, Ubuntu, Cantarell, 'Noto Sans', sans-serif, 'Helvetica Neue', Arial, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Noto Color Emoji'; font-size: 16px; white-space-collapse: preserve; background-color: #ffffff;">We have analyzed the most popular food delivery apps. Open the link to explore detailed insights.

The food delivery market has numerous high-quality solutions, which we decided to compare 🔎 (of course, the most interesting and popular of them). So, follow the link to get acquainted with the best meal kit delivery services 🏆

A list of the best food delivery apps with their pros and cons

Do you know what the software discovery phase is? We believe so, because the concept is gaining popularity month by month. And here's why!
You see, it is Discovery that allows you to find the right approach to project implementation. It offers you the best solution to delivering the product, capable of meeting all crucial user needs.&nbsp;
Definitely, we could tell you about Discovery and its benefits for a long time, but why waste time if the key information has already been crying for your attention? Just <a style="color: #3598db;" href="https://agilie.com/blog/project-discovery-phase" target="_blank" rel="noopener">follow the link</a> and read the article covering this very topic.
And now we'd like to discuss with you another issue, namely, two discovery phases, or rather, two ways of conducting research and analysis.&nbsp;
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1650630916324.png" alt="discovery stage" width="1000" height="410" />
As a rule, we, the Agilie team, work remotely and perform the required activities online. But if necessary, we&rsquo;re ready to visit your office in person and get information on site, so to say.
What should you choose? The answer is in the blog piece below. And we start, as usual, with the basics.
<h2 dir="ltr" style="text-align: justify;">Why Do You Need a Software Discovery Phase?</h2>
Of course, Discovery is hardly an obligatory project part. That's why many skip or reduce it and start with the Delivery steps right away... which they usually regret later. The thing is, they think they're saving time and/or money, but it's not really the case. In the long run, they're losing much more resources because this kind of short-sighted savings result in increased costs over time. It's not worth the risk.
The story with the Everest app serves as proof. The original idea was to create a digital platform aimed at helping users make their dreams come true. The features included setting goals, describing steps to achieve them, getting support from like-minded people, and so on.&nbsp;
The start of the project was successful: investors allocated $2+ million to finance its implementation. Alas, the developers failed to meet the promised six-month deadline. They paid too much attention to secondary features (such as offline synchronization: an option, which took too long to implement)... while they should have focused on releasing an MVP model first (the app with basic functionality).
Eventually, the app entered the market, but it was too slow and had poor UI/UX. And a few years later, the project had to be suspended. The most annoying thing about that is that the software discovery phase would have helped to avoid such a sad outcome.
If you don&rsquo;t want the same fate as Everest, don't skimp on the initial thorough research.
<h2 dir="ltr" style="text-align: justify;">What is a Discovery Stage Team?</h2>
Discovery takes from 2 weeks to a few months (roughly speaking) and involves a whole team of experts, including a business analyst, designer, technical specialist, project manager, and many others. They help the startup owner to understand how to approach the project, what features to create in the first place, what technology stack to choose to ensure the software runs smoothly. In other words, they'll explain to you how not to disappoint future users.
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
To get detailed information on all Discovery experts and their responsibilities, see the article we linked to in the introduction.
</li>
</ul>
The aforementioned specialists can perform their work remotely; still further, the online format won't prevent them from showing their best (it's the so-called OFFSITE Discovery). However, in some cases, the business analyst and manager may visit the client personally to conduct on-site research (which is known as ONSITE Discovery). This way, they get first-hand information, dive into the nature of their client's business, and find out all the details.
Sounds good, but this has a downside as well. Moreover, both methods have their pros and cons, and the choice of a particular technique depends on the project's specifics.
Let's take a closer look at what's right for you and your startup.
<h2 dir="ltr" style="text-align: justify;">ONSITE vs OFFSITE Discovery Phases</h2>
Let's briefly remind you of what steps Discovery traditionally consists of (in the above article, you'll find their full description). <img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1650630952462.png" alt="software discovery phase" width="1000" height="340" />
It doesn't really matter if we only do Discovery online or include offline activities too. In both cases, we go through the same stages. The main difference is the methods and tools we use to achieve the desired result (say, a personal interview in Onsite Discovery and an online survey when working 100% remotely).
<h3 dir="ltr" style="text-align: justify;">OFFSITE Software Discovery Phase</h3>
Although the name sounds like it's offline, Offsite Discovery is all about remote work on the project (because we're working off site, and we mean your site). Undoubtedly, the option is at its peak today; and the following list explains why by highlighting the main benefits of online research:
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
New challenges of the times: we mean, of course, the coronavirus and the pandemic it has caused. Over the past couple of years, we&rsquo;ve learned and got used to working remotely.
</li>
<li dir="ltr" aria-level="1">
Saving time: no need to go anywhere, the project discussion takes place remotely. And it does matter, as businessmen are usually on tight schedules.
</li>
<li dir="ltr" aria-level="1">
Saving money (we&rsquo;ll discuss this advantage of Offsite Discovery a little later).
</li>
<li dir="ltr" aria-level="1">
Convenience to the max. And finally, Offsite Discovery is really convenient! You aren&rsquo;t limited by anything: neither the time zone, nor the location, nor other factors.
</li>
</ul>
However, sometimes you have to resort to the help of personal meetings. Let's discuss the option at greater length, shall we?
<h3 dir="ltr" style="text-align: justify;">ONSITE + OFFSITE Discovery Stage</h3>
Just so we're clear: the Onsite approach doesn't work by itself. Offsite activities will still be part of the project. Personal visits are needed to collect information about the client's business, conduct interviews with those who own crucial data, and perform similar offline activities. The subsequent processing of the gathered information will take place remotely (online) anyway. You see, requirements analysis involves a lot of time and effort... starting it on the client's location (site) is expensive and therefore makes zero sense.
Let's not deny, though: Onsite Discovery is very effective&hellip; but only if you manage to organize the process correctly. If you want Agilie experts to personally visit you, be sure to keep them busy all the time. Also, your employees must be ready to spend time with our specialists, answer their questions, and help them understand how your company works. And we're not talking about a few hours... The visit may last at least a week (otherwise, there is no point in Onsite Discovery).
Agree, if the business analyst just walks around one of your offices, he'll be of little help to the project. The final results are likely to be minimal (at high costs).
<h3 dir="ltr" style="text-align: justify;">What About Discovery Phases&rsquo; Cost?</h3>
Surely you&rsquo;ve already been wondering how long Discovery takes, right? We have the answer to your question, although the data is rather approximate (each project is unique).
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1650631009666.png" alt="discovery phases" width="1000" height="281" />
As you can see, the implementation of the Discovery phase in the case of small and medium-sized projects takes a similar time, regardless of the chosen approach. But when it comes to large projects, the situation changes: Onsite + Offsite method gives faster results, which is hardly surprising. In the end, personal presence allows the expert team to get answers to all burning questions here and now, so to speak: you and your employees provide maximum information in real time. However, Discovery's accelerated process doesn't make it cheaper&hellip; quite the contrary.
See for yourself!
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1650631024526.png" alt="discovery phases" width="1000" height="281" />
We cannot name the exact cost of the Discovery phases, whether it's offsite or onsite, a lot depends on the specific project and the techniques used. But exact data isn't needed anyway (at least, right now): as the second table shows, research, which includes online and offline activities, entails additional expenses.&nbsp;
The explanation is simple: firstly, you should cover the cost of full board and accommodation for our team (usually, it's about a business analyst and a project manager, although there may be other options). Secondly, you need to finance the flight too (it would be unwise of us to work at a loss, right?). In addition, several of your employees will have to spend their precious time accompanying Agilie experts and showing them your business from the inside, figuratively speaking.
That's why so many people prefer the offsite format... The only question is how to make sure the Discovery phase remains effective even when executed remotely. What can we offer in this regard?
<h2 dir="ltr" style="text-align: justify;">How to Conduct the Discovery Stage Online?</h2>
Among our advantages is the willingness to work in a flexible mode and adapt to your needs. You yourself, as a client, choose a convenient interaction format, including a suitable time zone. And we use our best efforts to provide appropriate working conditions.
To be specific, here is what we offer as part of Offsite Discovery:
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
agile approach to Discovery, when the development process is divided into repetitive cycles (sprints). Thus, we remain as flexible as possible and more easily respond to any changes.&nbsp;
</li>
<li dir="ltr" aria-level="1">
careful planning of current and future activities using modern digital tools, including the popular Google calendar.
</li>
<li dir="ltr" aria-level="1">
daily online/offline meetings within our Discovery team, which means each of its members stays abreast of developments. It also ensures transparency of processes.
</li>
<li dir="ltr" aria-level="1">
regular communication with the client (with you), so that you are in the know and can offer new ideas, if you have any. Our interaction channels include the following:
</li>
<ul>
<li dir="ltr" aria-level="2">
real-time communication in instant messengers (Viber or WhatsApp) and similar programs (Skype, Slack, etc.). If necessary, we can arrange an audio or video call;
</li>
<li dir="ltr" aria-level="2">
email communication, which allows you to write to us when you are in a hurry to convey some important information but there is no time to make a call right away;
</li>
<li dir="ltr" aria-level="2">
Google Meet/Zoom conferences if there is a need to have a longer and more detailed business conversation.
</li>
</ul>
</ul>
All the proposed ways to conduct the Offsite discovery stage aren&rsquo;t just a set of theories. We've tested them in practice, and they've proved effective and decisive.
For more information about our Discovery services, <a href="https://agilie.com/expertise/discovery" target="_blank" rel="noopener">follow the link</a>.
<h2 dir="ltr" style="text-align: justify;">Summary</h2>
Of course, there are situations when personal presence is preferable. So let&rsquo;s not completely dismiss the Onsite approach to the Discovery stage. Instead, we invite you to discuss your project and decide which of the two options is the ideal solution in your case.
&nbsp;

The discovery stage is the key to the success of the entire digital project. But which approach to choose, onsite or offsite? Our article answers this question 👌🏽 Follow the link to learn all about the two types of software discovery phases 😉

The discovery stage is the key to the success of the entire digital project. But which approach to choose, onsite or offsite? Our article answers this question 👌🏽 Follow the link to learn all about the two types of software discovery phases 😉

ONSITE & OFFSITE Discovery Phases: What To Choose?

What <span id="docs-internal-guid-1589b7f8-7fff-bd47-5af1-3962569c8350" style="font-size: 11pt; font-family: Calibri, sans-serif; color: #000000; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">are <span style="font-size: 11pt; font-family: Calibri, sans-serif; color: #000000; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">fintech solutions<span style="font-size: 11pt; font-family: Calibri, sans-serif; color: #000000; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">? How can they help your business grow? Follow the link to get all your answers.

What are fintech solutions? How can they help your business grow? Follow the link to learn all about the fintech industry and the best ways to interact with it 🎯

Digital financial services | What is financial technology?

Blockchain has become a paradigm shift that changes the operations of different industries. Nevertheless, like any other disruptive technology, a lot of myths and misconceptions have appeared. We should differentiate between fact and fiction to use blockchain technology effectively and responsibly. We can better understand what blockchain is (and isn&rsquo;t), how it functions, and the varied applications it holds besides cryptocurrencies by clarifying these misconceptions.
<div id="form-description" class="form-description" data-title="Key Takeaways" data-text="Blockchain is not just about Bitcoin; it is the technology that can transform different fields. 

Blockchains are strong but not flawless, and being aware of the possible weak sections is a very important thing in keeping the network safe.

Educational investment and partnerships with software development experts are the main factors for businesses that will use blockchain technology.">
<div class="form-description-title">Key Takeaways</div>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
Blockchain is not just about Bitcoin; it is the technology that can transform different fields.&nbsp;
</li>
<li dir="ltr" style="text-align: left;" aria-level="1">
Blockchains are strong but not flawless, and being aware of the possible weak sections is a very important thing in keeping the network safe.
</li>
<li dir="ltr" aria-level="1">
Educational investment and partnerships with software development experts are the main factors for businesses that will use blockchain technology.
</li>
</ul>
</div>
<h2 dir="ltr" role="presentation">&nbsp;Myth 1: Blockchain and Bitcoin Are the Same</h2>
Among the most common myths about blockchain technology is the confusion between the blockchain and Bitcoin. Blockchain and Bitcoin were created simultaneously, so they are widely believed to be the same thing. However, we must understand that blockchain is a much broader term. It is the technology that created Bitcoin. While Bitcoin is indeed the first and most famous application of this technology, equating the two is like saying that Google is the Internet.
Blockchain is a decentralized digital ledger technology (DLT) that records transactions across multiple computers so that the records cannot be altered retroactively, without the alteration of all subsequent blocks and the consensus of the network.
This makes blockchain a naturally secure and transparent method of data and transaction recording.&nbsp;
Bitcoin is a type of digital currency based on blockchain technology and used for secure, anonymous, and decentralized financial transactions. The blockchain of Bitcoin acts as a public ledger for all the transactions in the Bitcoin network, thus, it is possible to transfer digital currency securely without the use of intermediaries like banks or governments.&nbsp;
Blockchain technology can be much broader than purely financial transactions. It can be used in different industries with various aims. Nowadays, many businesses are studying how blockchain can improve their operations (read more about <a href="https://agilie.com/blog/enterprise-blockchain-development-how-businesses-derive-benefits" target="_blank" rel="noopener">enterprise blockchain development</a> and <a href="https://agilie.com/blog/enterprise-blockchain-development-how-businesses-derive-benefits" target="_blank" rel="noopener">enterprise-grade blockchain development</a>).

Here are a few examples:
Healthcare: Blockchain can guarantee the safety of medical records storage and sharing. Thus, they are only available to authorized personnel and patients and lead to quicker diagnosis and treatment.​
Financial Services: Blockchain is a viable solution for international payments, real-time settlements, and improving transaction transparency and security.
Digital Identity:&nbsp; Blockchain can correct identity theft and fraud by adding digital identities that cannot be changed. For example, Estonia's e-Residency program is the first of its kind, a government-issued digital identity that allows entrepreneurs from anywhere in the world to operate and conduct business online in the EU.
Real Estate: Blockchain can simplify property transactions such as sales, leasing, and financing by reducing paperwork and improving transparency.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/the-evolution-of-blockchain-from-bitcoin-to-business-applications" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716280829344.png" width="100%" height="100%" />Learn more about the evolution of Blockchain from Bitcoin to business applications.</a>
<h2 dir="ltr">Myth 2: Blockchain Transactions Are Always Anonymous</h2>
A frequent mistake people make about blockchain technology is that it is automatically anonymous to its users. However, the truth is more nuanced. Blockchain transactions are not strictly anonymous but pseudonymous.
Pseudonymity means that a user's identity is not directly tied to their blockchain transactions but rather to a digital pseudonym, typically a public key or a blockchain address. These addresses are like a sequence of letters and numbers, giving privacy but not total anonymity.
In contrast, anonymity would mean that the transactions are entirely disconnected from any identity, even a pseudonym, making them untraceable to the user. Blockchain does not usually provide this level of anonymity because the transaction history of each blockchain address is visible to anyone who accesses the blockchain.
Most blockchains are open ledgers, meaning that all transactions are visible to anyone who wishes to view them. This level of transparency ensures that while users' identities are not directly exposed, their transaction histories and patterns can be analyzed.<span style="font-size: 11pt; font-family: Roboto, sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-position: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716280901953.png" />
While basic blockchain transactions offer pseudonymity, several enhancements and tools can increase privacy:
1. Mixing Services: Services like CoinJoin allow multiple users to combine their transactions into a single transaction with multiple inputs and outputs. This mixing blurs the traceability of any single coin, making it more difficult to link wallets with identities.
2. Privacy-Focused Cryptocurrencies: Some cryptocurrencies, like Monero and Zcash, are designed specifically to enhance privacy. Monero uses ring signatures and stealth addresses to hide the transactions&rsquo; origins, amounts, and destinations. Zcash allows users to shield transactions completely through its zk-SNARKs technology, which enables transactions to be verified without revealing the sender, receiver, or amount.
3. Use of Multiple Addresses: Users can increase their privacy by using multiple wallets or addresses, dispersing their transactions across several points, which makes it more challenging to link them to a single identity.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/blockchain-tech-trends-how-to-stay-ahead-of-the-curve" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716280997458.png" width="100%" height="100%" />Explore key blockchain technology trends and stay ahead in its innovation with insights and practical examples.</a>
<h2 dir="ltr">Myth 3: Blockchains Are Unhackable</h2>
The idea that blockchains are completely unhackable is a frequently held misconception that can cause a dangerous level of complacency in security measures. While blockchain technology does offer robust security features, it is not immune to vulnerabilities. Knowing the security features employed and the situations in which breaches happen is very important for anyone who wants to use blockchain for their business.
Blockchain technology secures data through several mechanisms:
Cryptography: Every transaction on a blockchain is secured using cryptographic algorithms, which ensure that data can neither be altered nor read without the appropriate cryptographic key.
Decentralization: By distributing copies of the ledger across a network, blockchain reduces the risk of a single point of failure that could compromise the entire system.
Consensus Protocols: Blockchains use various consensus mechanisms, like Proof of Work (PoW) or Proof of Stake (PoS), to agree on the validity of transactions. These protocols prevent a malicious actor from changing even a single aspect of the blockchain.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716281102044.png" width="100%" height="100%" />Learn more about our blockchain software development services.</a>
Despite these security measures, there are scenarios where blockchains can and have been compromised.
<h3 dir="ltr">Scenarios Under Which Breaches Have Occurred</h3>
51% Attacks: This type of attack happens when a single entity gains control of more than 50% of the network&rsquo;s mining hash rate or stake, allowing them to manipulate transactions and potentially double-spend coins.&nbsp;
Code Vulnerabilities: <a href="https://agilie.com/blog/secure-smart-contract-design-best-practices-in-solidity-programming" target="_blank" rel="noopener">Smart contracts</a>, which are self-executing contracts with the terms directly written into code, can contain vulnerabilities. One of the most famous incidents is the DAO attack on the Ethereum network. Hackers exploited a vulnerability in the DAO (Decentralized Autonomous Organization) smart contract code to siphon off one-third of the DAO&rsquo;s funds.
Phishing and Social Engineering: End-user security is often the weakest link in a blockchain system. Phishing attacks can allow attackers access to blockchain assets, bypassing network security measures, to steal private keys or wallet credentials.
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716281254703.png" />
<h2 dir="ltr" style="text-align: justify;">Conclusion</h2>
The blockchain technology is often seen as highly popular and muddled at the same time.&nbsp; Falsified myths are only part of the misconceptions that can mislead such a fantastic technology. Similarly, proper professional knowledge and strategy can help blockchain perform to its potential in various fields.&nbsp;<a href="https://agilie.com/blog/your-own-cryptocurrency-from-scratch-everything-you-need-to-know-to-create-your-cryptocurrency" target="_blank" rel="noopener">Building your own cryptocurrency</a> can be a strategic move for businesses seeking to innovate and tap into new digital markets.
At <a href="https://agilie.com" target="_blank" rel="noopener">Agilie</a>, we understand that dealing with a complex environment is also a significant challenge. This is why we create powerful blockchain systems and wish to educate our clients regarding the breadth of blockchain-utilizing services. Therefore, such solutions can be tailored to your industry's concrete necessities and problems.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716281316627.png" width="100%" height="100%" />Contact us to find out how our blockchain development services can help you achieve your goal.</a>

Discover the truths about blockchain technology as we debunk common myths and clarify its applications to empower businesses with informed integration.

Discover the truths about blockchain technology as we debunk common myths and clarify its applications to empower businesses with informed integration.

Blockchain Myths Debunked: Separating Fact from Fiction

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