Blockchain Technology
A blockchain is typically called a bunch of blocks that are absolute to one another by using cryptography. Those blocks work on a peer to peer network, these networks are mostly decentralized.
As it is Decentralization minimizes the one-point failure of the system.
It is transparent as it gives access to information to each member of the network at an identical time.
As the records of transactions can’t be changed it gives more security.
Step Of Development:
Defining the purpose
Blockchain can be a revolutionary technology, it can be very expensive to use it where it is not needed. So deciding its purpose in the project is necessary.
Finding out the Consensus Mechanism
There are several consensus mechanisms available, such as:
- Proof of Work
- Proof of stake
- Delegated proof of stake
- Proof of Burn
- Practical Byzantine fault-tolerant Mechanism
- Proof of Identity
- Proof of Time
- Proof of Importance
Identify the foremost important platform / network
Blockchain technology covers various platforms / networks such as Bitcoin, Ethereum, and so on. At present, many blockchain consulting companies are actively using ETH platforms.
Designing the architecture
There is multiple hardware and software configurations Selection, such as:
- Disk size
- Processor
- Memory
It should be selected according to your requirements.
API Development
A list of some things that are required by the API:
Key Generation and addresses
Functions to perform the audit
Use digital signatures and hashes to verify data
Storage & retrieve data
Admin and UI Design
Various front-end tools can be used, such as Angular.js, HTML5, CSS, etc.
The external database can be MySQL, MongoDB or. The server can be selected as an FTP server, Web server, mail server, or more.
Identifying problems
It is recommended to use enough test solutions. This will help you identify crashes, delays, performance issues, and memory interruptions.
Blockchain Development Company
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