Blockchain technology enables the secure and efficient storage of information. With its distributed ledger technology, transactions are recorded on the blockchain and validated by network participants.
Every network partner can see and share the transaction records in real-time. Besides, the retained transaction records are immutable and permanent. Only more transaction records can be added, but not removed. Many companies are implementing Blockchain Development to reap the benefits above
Presently, there are many Blockchain-as-a-Service(BaaS) companies offering Blockchain Development Services. But if you want the best blockchain development solutions, contact TokenMinds now. Whether you need crypto wallet development services, smart contract creation, or crypto exchange development, TokenMinds, a top Blockchain Development Firm has you covered.
Developing a blockchain application can be a challenging task. Experienced Blockchain Developers follow various steps to create blockchain solutions. Here, we explore Blockchain Development step by step.
Step by step Guide to Blockchain Development
1. Problem identification with Blockchain Developers
Once you share your idea with blockchain developers, they’ll craft a problem statement that helps them understand different issues you want to solve with blockchain. Blockchain engineers will figure out the best way of integrating blockchain into your operations to boost efficiency. They can also determine whether you need a completely new blockchain application or not.
‘You have to ask where’s the problem – the core issue – that blockchain can help solve,’ says Kyn Chaturvedi, Chief business development officer, TomoChaun.
Source: TECH IN ASIA
2. Select the correct blockchain platform like Ethereum
Once blockchain engineers identify the problem you want to solve with blockchain, choosing the right platform to build your application is the next step.
However, the blockchain platform you need depends on the consensus mechanism and the problems you want to solve. For example, Ethereum is the most-used blockchain, featuring the functionality of Smart Contracts.
If your company wants to leverage it’s large and committed global community, developers at TokenMinds can help you build full-stack dApps and smart contracts on the Ethereum blockchain. Other Popular Blockchain Platforms are Hyperledger Sawtooth, StellarCorda, EOS, Hashgraph, Tezos, Polygon, and Solana.
3. Blockchain brainstorming and ideation
Engineers brainstorm to discover ideas for your business needs after identifying the problem and choosing the blockchain platform. Here, they assess, map out, and draw up use cases for experimentation. Furthermore, developers determine the right elements to add as on-chain or off-chain business units.
Engineers also create a roadmap and define the deliverables of each phase. At this point, engineers determine whether they should develop your solution on permission or permissionless network. Finally, engineers will figure out the right programming language suitable for your blockchain application.
4. Conducting a Proof-of-concept
A proof of concept helps to find out the actual applicability of a blockchain idea. Engineers can either use a prototype or a theoretical build-up. Once a speculative build-up is ready, engineers for your product will develop a prototype that has various components, like mockups, sketches, and designs.
5. Visual and Technical Designs
Once a client accepts the proof-of-concept, the next stage entails preparing technical and visual designs for the app. You can begin by developing UIs for each application component. While graphic designs help create a feel and look, technical drawings and illustrations also help explain the software’s technical architecture.
6. Develop Blockchain Applications
Here the actual development of your blockchain app takes place. You can decide whether to develop or combine APIs for the specific use case. You can set the app under many versions, such as beta, alpha, and release candidate.
The above guideline gives you a sneak preview of how engineers develop a blockchain application. If you lack time or knowledge to build a blockchain-based application, please get in touch with TokenMinds. The Blockchain Development Company has experienced Blockchain Developers to deliver the best blockchain product for your firm.