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3 Steps For Building A Blockchain App

Stefan by Stefan
12/06/2018
in Blockchain Archive
Reading Time: 1 min read
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Most of the applications today are centralized. That doesn’t mean that it can’t be decentralized. Using the blockchain technology can help you with this task. Almost every centralized system and function can be decentralized such as banking, insurance, and currency exchange. Blockchain has the ability to eliminate intermediaries and improve security and transparency. This is why for some, building a blockchain app is a great idea, and here are some of the things you need to know in order to do it.

  1. Set a Goal

Before you develop an app, there has to be a certain goal or a problem for you to solve. Write down ideas on how you plan to resolve the problem and how you expect this app to do it for you. You may, however, find that certain problems can’t be solved by the blockchain. Keep in mind that you will need to invest a lot of time and resources so it’s best if you make a plan beforehand.

  1. Find A Suitable Mechanism

As you know, Bitcoin uses a consensus mechanism called proof-of-work where all the members of a network need to authenticate the transaction. There are plenty of alternatives to choose from. You should research all consensus mechanisms out there such as Proof-of-stake, Byzantine fault tolerant, Delegated Proof-of-Stake etc. Depends on your individual case, choose the one that you think suits best.

  1. Find A Platform

Platforms are great if you don’t want to build an app on a separate blockchain. Most of the platforms are open source, so depends on your consensus mechanism you should choose a platform. The most popular platforms are the Ethereum platform, Hyperledger Fabric etc.

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Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

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