1 / 11

8 Steps to Start Blockchain Development and Get Ready Your App

Essentially, any industry that needs to securely track financial transactions will likely sooner or later use blockchain. Blockchain is a distributed digital ledger which records transactions in a decentralized database located in multiple places.

consagouspushp
Download Presentation

8 Steps to Start Blockchain Development and Get Ready Your App

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 8 Steps to Start Blockchain Development and Get Ready Your App

  2. You need to define the problem at hand and how you expect the application to solve it. • Do a cost-benefit analysis, audit your internal capabilities and identify the issues and risks involved. • If this analysis prove to be in favor of blockchain and then move to the next step else you are better off with traditional development. Identify the Problem and Goal

  3. Blockchain is a decentralized system it requires all the members of the network to authenticate a transaction, this process is called consensus. • Bitcoin uses proof of work as a consensus mechanism. • Most popular Consensus Mechanism: • Proof of stake, • Proof of Elapsed Time, • Byzantine fault tolerant, • Federated, • Round Robin and Delegated Proof of Stake. Identify the Most Suitable Consensus Mechanism

  4. Blockchain platforms help you build a decentralized application without creating a separate blockchain from scratch. • Some of the popular platforms include Ethereum, BigChainDB, Hyperledger Fabric, Quorum etc. • In case of an enterprise level blockchain app, you should lay special emphasis on the stability and security of the blockchain platform. Identify the Most Suitable Platform

  5. Blockchain solution can exist on the cloud, in-house or in a hybrid model. • There are also multiple options for hardware and software configuration like processors, operating system, memory and disk size etc. • You need to choose between the following types of blockchain solutions: • Permission-less • Permissioned • Private Blockchains • Public Blockchains • Hybrid Designing the Architecture

  6. Configuring a blockchain application needs very careful planning. • Some of the key components: • User Permissions, • Asset Issuance and Reissuance, • Atomic Exchanges, • Consensus, • Key management and Structure, • Parameters, Signatures, • Hand-shaking and Address formats. Configuring the Application

  7. You might get some pre-built APIs for development purposes but you’ll need to create most of them for distinct use cases. • Some of the common purposes for which an API is needed are: • Generating key pairs and addresses • Performing functions related to auditing and data authentication using digital signatures and hashes • Storage and retrieval of data • Management and trigger of smart contracts relating to the issuance, payment, exchange, escrow, and retirement. Building the APIs

  8. Last step is to create a UI and admin console for the application. • Decisions need to be made regarding the front-end programming language, servers and external database for the app. • You will use this console for managing the soft launch of the application hence do incorporate proper analytics into the system. Design the Admin and User Interface

  9. In this approach instead of developing the complete application, you develop a workable solution that is good enough to prove your hypothesis but not loaded with side features or high-end UI. • Need to identify any performance issues, latency, crashes, storage or memory glitches. • As and when the problem arises, find a solution, implement it and move further. Scaling the POC and Identifying Problems

  10. https://www.consagous.com/blockchain-services • https://www.consagous.com • info@Consagous.com Looking for a Blockchain Application DeveloperContact Us

More Related