The cryptocurrency market has taken the audience by storm. It offers some assets that look like a good investment option from revenue perspectives in the long run. We have already witnessed Bitcoin success hitting the headlines and performing amazing price growth while other types of cryptocurrency have taken their places in the niche featuring good investment potential. Although the market has recently faced some changes, which is 100% natural when it comes to global finances, it still looks rather promising for those who want to generate huge profits effortlessly.
This is where blockchain application may come in handy. All major cryptocurrencies like Bitcoin operate on the base of blockchain technology. Every time a transaction is made, the data is transmitted to devices around the globe at the same time despite their location. Each transaction consists of blocks that form a huge chain. As a result, we have a technology also known as blockchain. It is doomed to have a bright future according to experts’ opinion.
Benefits Of Using Blockchain
Blockchain technologies have proved to be safer and more reliable when it comes to transactions. They appear to be a faster and securer way to complete the operation with just a click away. Today, we have a great chance to take the advantage of cost-effective and transparent transactional application boast the following core advantages:
Blockchain Means Trustworthiness – Have you ever dreamt of handling transactions without third-party interaction? Blockchain applications provide maximum security level with no third parties involved in the transaction process. It means fewer chances of fraud. The system prevents the slightest hint on the risk of backdoor operations;
Higher Transparency Level – users can benefit from a total control over each and every transaction they handle. Blockchain technologies make it easy to generate the most precise and accurate data, record transactions, manage ledgers’ access, etc.;
Fast Transactions – brick-to-mortar marketplaces are less efficient when it comes to ensuring speed and accuracy of every transaction. It does not matter if they actually use digital documentation or not, Blockchain technology is a much faster way to handle operations. The system processes all transactions 24/7 in less than 1 minute;
Minimum Transaction Cost – as we have already mentioned, Blockchain prevents ledgers from third-party integration when handling transactions. This fact not only improves credibility but also makes it possible to reduce transaction costs. No third parties mean no fees or extra charges.
These are some core advantages of using Blockchain applications. However, the system delivers features that are even more essential out of the box.
Main Steps To Create A Blockchain Application
Our mission is to make the process of building a Blockchain app as clear as possible. For this reason, we have divided the application development flow into several crucial steps. We tried to make them rather simple to understand. You are not supposed to have any special skills or knowledge. However, having at least some basic Blockchain knowledge will be a good plus. So, the development process is as follows.
Set Clear Goals
It does not matter if you are planning to build a Blockchain application or want to develop a new version of mobile photo editor; you need to start with the goal. What is the purpose of your future app? What problems should it solve? How can it be beneficiary for potential users? Who is your target audience? Once you have the answers to all the questions, you will have a clear vision of how your future app will look like.
Determine a Matching Consensus Mechanism
Each member of a single transaction must be authenticated within the network. The requirements result in the fact that Blockchain technology operates as a decentralized system. For example, we heard about Bitcoin. It acts as a consensus mechanism. You need to choose a method or mechanism that will suit your particular goals and assets.
Choose a Platform
The global web offers a selection of platforms that make it easy to build and publish an app from without the necessity to build a new Blockchain system from scratch. All you need is to consider a chosen consensus mechanism and features of your future application to choose a platform that will meet your requirements. We will review some of the most popular software further in our article.
Think Of App’s Architecture
Once you have made up your mind with the platform, you need to design the architecture of your future app. Cloud-based networks look like a good solution whenever you want to benefit from the Agile method. On the other hand, you still need to choose from different types of blockchain solutions including permission, public, and others.
Build The API
After you are done with the app architecture and configurations, it is high time you built the API. It is necessary for further retrieving and storing data as well as for performing functions related to audit, authentication, etc.
Problem Shooting and Testing
This is probably the most important step to ensure your application runs smoothly. Make sure it does not have bugs. It should be compatible with different devices despite the OS or carrier. Try to detect all possible glitches and move from one place to another examining each and every potentially risky area of your application.
Popular Blockchain Application Development Platforms
Choosing the right Blockchain platform may define the entire success of your future application. We decided to put an ease on the process of selecting a proper one. Benefit from a brief review of most popular development platforms to build a solid Blockchain app.
Eris:
- A cost-effective platform for those who want to build a secure and fast Blockchain app;
- Provides an easy way to manage, enable or disable any function;
- Provides a step-by-step data analysis when it comes to complete actions.
OpenChain:
- Scalable and free transactions;
- Easy asset management tools;
- Admin panel to manage ledgers’ access;
- Digital signature to all transactions;
- Secure API platform.
MultiChain:
- Instant ledgers’ distribution, design, and implementation;
- Permission and support supervision;
- Instant deployment within the chain;
- Can be extendable and BTC compatible.
HydraChain:
- The best platform for Ethereum protocol;
- A handy tool to build a permission app from scratch.
OpenZeppelin:
- A framework that operates as an open source;
- The code that is easily tested and audited;
- Vetted modules for building smart contracts with enhanced security.
Conclusion
Our mission is to make the process of building a Blockchain app as clear as possible. For this reason, we have divided the application development flow into several crucial steps. We tried to make them rather simple to understand. You are not supposed to have any special skills or knowledge. However, having at least some basic Blockchain knowledge will be a good plus. So, the development process is as follows.