Identifying the main problem you hope bitcoin will help to solve is the first step towards a successful blockchain development. The problem most people faced at this stage is generalizing. For instance, as a financial institution, if you say you need a blockchain to improve your transaction, that is a generalization. You will need to declare what transaction, maybe for your customers who usually receive money from other countries or those who transact in the shipping industry.
Which “consensus model” is best for you?
Before a block is allowed to be added to the blockchain network, users are required to prove their authenticity before they are allowed to participate in the blockchain network. Proof of work which is based on solving a complex mathematical problem before a user can be allowed to join the network is the most popular “consensus model”; however, there are others like Federated, Proof of Elapsed Time, Proof of stake, Delegated Proof of Stake, Byzantine fault tolerant, and Round Robin.
Which among all of the platforms will be okay for your purpose?
Today, there are lots of blockchain platforms using different “consensus model” and programming languages. Your choice of a platform must be directly related to the purpose. For example;
- Bitcoin platform is majorly for crypto-currency transactions
- Ethereum platform is targeted at smart contracts and is designed for different decentralized applications (DApps)
- IOTA platform was designed specifically for the fee-less micro-transactions of the Internet of Things.
Also, check with your team to know the skilled personnel you have on-board to know which to settle for as more than one of the available platforms will be able to handle your purpose.
How will the design be?
Your blockchain can be hosted either on the cloud, in your preferred location (such as an office), or hybrid. For effective functioning of the technology, the design should suit the requirements and purpose of your project. And you may want to choose of the four blockchain solutions;
Permission Less
Used for purposes such as bitcoin and the other major cryptocurrencies ― anyone can become a miner of these platforms.
Permissioned
These are used for governmental operations like tax collection and voting systems.
Private
Specially used for internal contract management in sensitive industries such as hospitals.
Hybrid
It is mostly by banks for sharing Know Your Customers (KYC) information.
What are the components of a blockchain App?
You have to be meticulous here because any mistake during the configuration of a blockchain application may be impossible to be corrected. It is important to get an expert to handle this stage of your blockchain development if there is none on your. Some of the major components that you may need to incorporated include asset allocation, reallocation strategy, consensus model, address formats and signatures.
Why would you need an API?
Some blockchain platforms offer users pre-built APIs but to better suit your purpose, you may need to create most of the APIs you will be needing for functions like storage and back up; executing smart contracts; and generating key pairs and addresses.
Why do you need a user-friendly interface?
Everything is almost set, but the blockchain still needs an interface to interact with users. Ensure you use an interface that users can easily navigate the website with.
Should you launch directly?
Just like any other programmed application, your blockchain application may encounter some issues such as not effectively handling a large data and so on. Test run your new blockchain application to ensure everything is functioning as planned. You may make this a behind the scene project while delaying the launch of your newly developed blockchain app.
Use of Blockchain Development in the real world
Since the discovery of the capability of blockchain to store data other than transactions information, many companies have been employing its use in their business. In a research survey conducted by Deloitte, of the 1000 companies in seven countries that participated in the survey, about 40% of them said they are ready to invest at least $5 million in blockchain while 34% of them are already using blockchain in their business.
Blockchain implementation is on pace to build technological solutions.
How would the COVID-19 scenario be handled if the world is enriched with blockchain solutions?
It is time for you to buckle up and take the role of a blockchain content writer seriously.
But before becoming a writer in blockchain/cryptocurrency technology, there are some things to be taken care of about the roles & achievements in the blockchain technology.Read full story here: https://steemexperts.com/ask-before-choosing-blockchain-content-writing-as-profession/
The revolutionary blockchain technology has already proved its worthiness in almost every industry.
The mobile app industry is no exception.
This blending of blockchain with mobile app development services has led to the evolution of many blockchain mobile app development companies globally.Blockchain technology has managed to bring a tremendous wave in the area of app development.
Blockchain-based android app development and Blockchain-based iOS app development are trending for the last year.
Once these two major operating systems start to incorporate blockchain, then there will be no case of malware, cybercrime, or such incidents.
Does it seem to relate anywhere else?Blockchain For Real Estate But, blockchain technology itself is defined with the examples of the public land ledger and registration process.
Many debates are going through on implementing blockchain in real estate.
Despite debates, there are successful ongoing projects on the real estate sector with blockchain technology.
Tab to Know More About ---> https://blog.blockchainfirm.io/blockchain-for-real-estate/
