8 Steps to Start Blockchain Development and Get Ready Your App

8 Steps to Start Blockchain Development and Get Ready Your App

 You need to define the problem at hand and how you expect the application to solve it.

Identify the Problem and Goal

 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 Most Suitable Consensus Mechanism

 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 Platform

 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.

 Blockchain solution can exist on the cloud, in-house or in a hybrid model.

Designing the Architecture

 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

 Configuring a blockchain application needs very careful planning.

Configuring the Application

 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.

 You might get some pre-built APIs for development purposes but you’ll need to create most of them for distinct use cases.

Building the APIs

 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.

Design the Admin and User Interface

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

Scaling the POC and Identifying Problems

 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.

Looking for a Blockchain Application Developer Contact Us

 https://www.consagous.com/blockc hain-services  https://www.consagous.com  info@Consagous.com