5AspectstoConsiderin BlockchainSoftwareDevelopment Blockchain software development is very different from conventional software development.Asblockchaintechnologybecomesmoreaccessibletoenterprisecustomers, the opportunity to build next generation business based software products and solutions emerge. Blockchain software applications will be more valuable than other types of traditionalsoftwareandhelporganizationstransformtheirbusiness. Thesefiveaspectsarethenatureofblockchainmentionedbelow: • Blockchain Technology • Distributed nature of blockchain • Decentralized nature of blockchain • Blockchain Interoperability • Blockchain software development strategies Let’shavealookat5Aspectstoconsiderin BlockchainSoftwareDevelopment 1.BlockchainTechnology Blockchain technology isdefinedbytheInternetprotocol.So,allwehavetoconsiderwhen blockchain technology is discussed is the fundamental protocol and not the applications
Forexample,letusassumethatwehaveatransactiontomakeapayment.Thetransaction willberepresentedbythreeblocks.First,wewillseethesignatureforthetransaction. This signature has the unique identity that is associated with the transaction. The second block contains the transactionserialnumber.The third block contains the identifierofthe
Theblockchaintransactionisrepresentedbyahash.Thehashismadeupofthetransaction signature,thedigitalsignature,theserialnumberofthedigitalsignature,andtheidentifier ofthetransaction.
Thetransaction.distributednatureofblockchaintechnologymakesitdifferentfromtraditionaldatabase technology.Intraditionaldatabases,allnodescanbetrusted.Intheblockchain,however,the nodesarenottrusted,whichiswhyblockchainisreferredtoasadistributedledger. Adistributedledgercanbetrustedonlywhenitisapublicledger.So,theledgercanonlybe distributedinapublic,centralizedmanner.However,itisstilldistributedandnotcentralized. Thatiswhytheledgercannotbecentralized.Butthisimpliesthattherewillbemanynodes involvedinthetransactionandthusthenumberoftransactionswillincreaseasthesystem is Blockchaingrowing.
Thenetwork.blockchainledgerismadeupofblocksoftransactions,whichhavetheirownidentifiers. These blocks, in turn, have an immutable digital signature, which prevents alteration or removalofanyrecordsorthedatawithin.
which use it. Blockchain technology is a decentralized database technology where all activitiesarerecordedandverifiedwithdigitalsignatures. Thismakesitadistributeddatabasetechnology,whichusesblockchaintechnologytoachieve decentralization.
isasecuredatabasesystem,whichisoneofitsmostimportantproperties.But,at the same time, it can’t be changed by any user. The blockchain technology works on immutablecryptography. Allrecordshaveadigitalsignaturetoidentifytheuserandthetransaction.Adigitalsignature isbasedonpublickeytechnology.Thisallowstwodifferentuserstodigitallysignthesame transactionwithoutconflicting.
Theblockchainnetworkispeer to peerinnature.Assuch,noindividualnodecanbetrusted. Eachnoderequiressufficientinformationtoidentifyitselfbeforeitcanbecomeapeerinthe
Theblockchainnetworkoperatesasadistributedledger,meaningthatitis an open ledger where any valid user can edit the record. This record cannot be altered or deletedbyanysingleentity.
Read Also: How To Pick The Right Blockchain Platform For Your Business Use Case
A blockchain network is completely decentralized. Each node will be independent and autonomous in its operation. Each node will have its own copy of the ledger and will be managingitsowncopyoftheledger. The ledger will be distributed throughout all nodes of the network. So, in order for a blockchainnetworktofunction,allnodesneedtointeractandcooperatewitheachother. Every blockchain network has a consensus algorithm, which defines how transactions and blocks are verified, stored, and validated. Any blockchain system has to use a consensus algorithmbeforeitcanbeimplementedinthesystem. Theconsensusalgorithmdecideswhichnodesareallowedtobeapeerinthenetworkand alsodecideswhethertransactionsarevalidated.
The blockchain technology also does not support an authentication system and the users have to provide their details and their authentication. This makes the network completely peer to peer.Thisalsoimpliesthatnonodecanbetrusted,andso,thereisnocentralcontrol ofthesystem.
The basic nature of blockchain technology is interoperability. This implies that any blockchain system, be it private or public, will work on blockchain technology. This interoperability means that two or more blockchain systems will work on any blockchain
2.Distributed&DecentralizedNature
3.Interoperability
Everynodeorledgerofablockchainsystemmaintainsacopyofthetransactionandrecords. Thisimpliesthattherearemultiplecopiesofthedataintheblockchainsystem.But,inorder tobeapeerinthenetwork,anodehastomaintainacompletecopyofthedataanditshistory.
Iftechnology.aprivateblockchainworksonblockchaintechnology,itwillalsoworkonpublicblockchain technology. Similarly, if a private blockchain is using consensus algorithms, a public blockchain will use those consensus algorithms as well. The interoperability, in essence, makesblockchaintechnologyusable.
The blockchain network can only function if all nodes are participating, which means that theyallneedtoagreeontherecordbeforetheyallmoveforwardinupdatingit.Thismakes thesystemcompletelydecentralized. Blockchainnetworkispeer to peerinnature.Thismeansthateverynodehastoverifythe dataortransactionsinthenetworkbeforemovingahead.
Read Also: How to Choose The Best Blockchain Development Platform?
Therearemanynodesandtheyallhavetheirowncopiesoftheledger,whichmeansthere are multiple independent entities and nodes. This makes blockchain technology very differentfromthetraditionalcentralizedandtraditionalsoftwaredevelopment.
Read Also: The Ultimate Guide to Custom Blockchain Solution
Blockchain systems do not have a central point of control. The nodes that are running the network aredecentralized.Inthe case ofblockchainsystems,all operationsarecontrolled andcarriedoutbythenodesofthenetwork.
Inblockchaintechnology,thereisnocentralauthorityandthenodesareindependentofeach other.So,thereisnosingleadministratorwhocanauthorizethechangesormakedecisions for the network. It is the nodes themselves who are operating and have the authority to decidewhatshouldhappeninthenetwork.
Thedecentralizednatureofblockchainsystemsimpliesthatthereisnocentralcontrolpoint totakedecisionsortoapprovemodifications.Theentireprocessofdecision makingisalso Thisdecentralized.meansthatthesystemiscontrolledbythenodeswhoaremakingthedecisions.They arethecontrollersoftheentireprocess.Theentireprocessiscarriedoutonlybythenodes in the blockchain network. The nodes do not allow any central control system to dictate Thedecisions.nodes themselves are independent of each other, which means that they do not communicate with each other or work in a centralized manner. This is the reason that blockchainsystemsarecompletelydecentralized. Thereisnoonepersonwhohascompletecontrolofthesystem.Thismakestheblockchain technologyverydifferentfromtheconventionalsoftwaredevelopment.
4.DecentralizedDevelopment
Inaddition,blockchaintechnologydoesnothaveasingleadministrator,meaningthereisno singleindividualwhocontrolsthenetwork.
BlockchainSoftwareDevelopmentStrategies
5.
So, we can expect traditional software to have centralized development where there is a singledevelopmentteamwithasingledeveloperforeachaspectofthesystem.Thisisnot thecaseforblockchain.
Eachteamorstakeholderhasadifferentroleinthedevelopmentofthenetwork.Butthese stakeholdersmustworktogetherinadistributedanddecentralizedmanner.Thismeansthat eachnodeshouldnotbecontrolledbyasingleperson.
Also,inblockchaindevelopment,therearemultiplestakeholders.Thisimpliesthateachnode will have a different perspective of the system. There is no single developer who will be overseeing every aspect of the project. There will be many stakeholders with different developmentresponsibilities.
Therefore, blockchain software development will be a decentralized and distributed development.Thisisbecauseanodecanbecontrolledbymultiplepeople. Forexample,itcanbecontrolledbyoneortwopeopleatatime.Multiplepeoplecancontrol a single node. And, this also implies that every node can be independent. That is why the nodeswillbedevelopedbymultiplepeoplewithdifferentresponsibilities.
Forexample,howwedevelopablockchainnetworkisverydifferentfromhowwedevelop conventionaldatabases.Thisisthereasonthateveryprojecthastohaveitsowndevelopment strategy.Inaddition,thedevelopmentstrategyhastobetailoredaccordingtothenatureof blockchainsystem. Blockchainsoftwaredevelopmentisalsodifferentfromtraditionalsoftwaredevelopment.It isimportanttounderstandthattraditionaldatabaseshavecentraladministration.
Blockchaintechnologyiscompletelydifferentfromconventionalsoftware.Thisdifferenceis notonlyattheprotocollevelbutalsoatthedevelopmentlevel.
As blockchain technology is going tobe widelyadopted in the coming years, it isexpected that it will be standardized. The developers will have to use standardized protocols to developnodes.
Thesestandardizedprotocolsandtheircomponentswillhavetobedocumentedandmade public in order to make it easy to build the nodes. The nodes will be compatible with the components of standardized protocol in the same way that they are compatible with the existingnodes.Thiswillallowdeveloperstobuildnodesusingstandardizedprotocols.
We will always have many people operating in a blockchain system. Every node has to manage its copy of the ledger and will have its own developer. The number of nodes in a networkwillbegrowinginthefutureandthisimpliesthattherewillbemultipledevelopers workingonmultipleareasofthesystem.
Blockchainisoneofthebestinnovativeanddisruptivetechnologiesthatwehaveseenin thepastfewyears.Itisexpectedtobeamajordisruptivetechnologyinthecomingyears,as moreandmorecompaniesareadoptingitfortheirbusiness.
BlockchainAppDevelopment
Blockchainsoftwaredevelopmentisnotrocketscience,butcreatinganapplicationthatuses Blockchaintechnologyrequirestherightskillsandexpertise.
BuildingaBlockchainapplicationisnotsomethingthatcanbeeasilydelegatedtojustanyone.
When it comes to Blockchain development, nothing compares to Blockchain application development. Blockchain apps are a great way to connect directly with users by offering easy to use Blockchain solutions.
Itisthefirstmajordisruptivetechnologythathasthepotentialtochangetheway companiesdevelopsoftware.So,itisveryimportanttounderstand how blockchain works. Wehaveunderstoodhowblockchainworksandwhatitisintheearlierpartofthisarticle. So,nowwehaveanideaabouthowblockchainworks.Butthereismuchmorethatwedo notknowabouthowblockchainworks.
Top Blockchain Development Company in USA Note
To get the most out of your Blockchain application development, look for a Blockchain development company withtherightqualifications.
Ihopethatthereaderwillfindtheinformationinthisarticlehelpfulandinteresting.Thisis justthefirstofthetwoarticleswearegoingtopublishonblockchaintechnology.So,stay tunedfor more articles aboutblockchaintechnology!
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