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How to Build an Effective Blockchain Mobile App Solution?

Blockchain technology is a very powerful technology and it can be effectively implemented with other technologies like IoT, Artificial Intelligence, Machine Learning and Mobile Apps etc. This ppt provides an overview of How to Build an Effective Blockchain Mobile App Solution?

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How to Build an Effective Blockchain Mobile App Solution?

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  1. How to Build an Effective Blockchain Mobile App Solution Consagous Technologies LLC

  2. Consagous Technologies LLC • Blockchain is a digital ledger of records that are gathered in clumps of data called blocks and these blocks are connected with other blocks, eventually forming a chain -- a Blockchain. • The data stored inside the chain are distributed across networks, thus, accessible to all and not alterable by any entity. • Blockchain specializes in delivering following functions:-

  3. Authenticating & Verifying The Records Consagous Technologies LLC • It provides an encrypted and fully secure environment by incorporating the functionality of immutable storage and digital signatures. • It facilitates storing of different data types and creation of public-private key pairs.

  4. Management of Smart/ Crypto Assets Consagous Technologies LLC • Blockchain helps in managing the transactions, exchanges, issuance, and escrow etc.

  5. Smart Contracts Consagous Technologies LLC • Blockchain helps in automating the work using smart contracts. • Smart contracts are pre-defined computer code of agreement residing in the environment of a distributed database of the Blockchain network and it gets automatically triggered in case of occurrence of an event.

  6. Development of a Blockchain Solution Consagous Technologies LLC Identification of Desirable Use-case • The identification of use-case which suits and caters to the need of business. • It must be ensured that Blockchain plays a bigger role in solving the problem, as on several occasions, the concept of a single and centralized database is efficient enough to address the problem. • It is also important to explore the risks involved in its implementation and the factors that will be impacted by it.

  7. Some Ideal Blockchain Use-cases Are:- Consagous Technologies LLC Banking Sector. Financial Sector. Government Sector. Insurance Sector .

  8. Banking Sector Consagous Technologies LLC Blockchain in the banking industry can automate the tedious processes and at the same time increase the trust and transparency in its domain.

  9. Financial Sector Consagous Technologies LLC • Incorporation of Blockchain is a kind of blessing in the financial industry.

  10. Government sector Consagous Technologies LLC Blockchain technology has the capability to address a wide range of governmental related issues viz-a-viz use cases related to voting, authentication, and verification of data, public distribution, contract and identity management and Land Registry etc.

  11. Insurance sector Consagous Technologies LLC Insurance industry sees the revolutionary change in its archaic working model with the incorporation of Blockchain technology.

  12. Selection of a Suitable Consensus Mechanism Consagous Technologies LLC • As per the selected use case the consensus mechanism must be chosen. • Initially, Blockchain, on which bitcoin is based, made use of Proof of Work (PoW) as a consensus mechanism. Today, the scenario has changed.

  13. Selection of Blockchain Platform Consagous Technologies LLC • Various Blockchain platforms are available nowadays which are free and open source. • Some of the popular platforms are Ethereum, Hyperledger Fabric, Open chain, Multi chain, Quorum, BigChainDB, Chain core, Credits, Hyperledger Iroha, Elements Blockchain Platform.

  14. Nodes Designing Consagous Technologies LLC It is critically important to decide that where the nodes will run on i.e. on cloud, on-premise or on both network.

  15. Are You Looking for a Blockchain App Developer? Contact Us Consagous Technologies LLC https://www.consagous.com/blockchain-services/ https://www.consagous.com/ info@consagous.com

  16. Consagous Technologies LLC

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