How to build a blockchain?
Blockchain development can be a lengthy process and requires a great deal of consideration. It starts with a functional idea. Why am I creating a blockchain system? Why not create another kind of program? Of course, there are a variety of good reasons to build a program using blockchain, these include:
- Increased security in the program
- More communal input
- Implementation of tokenomics
- Greater sense of transparency
What does your blockchain do?
Use cases are essential to the development of a blockchain platform. If it isn’t clear what the system brings to the table, there is no real incentive for communities to use it. The most popular use case today is that of monetized, transactional systems. This is a complex way of saying a money based system.
As a result of this, you will generally need a hook, or something more dynamic for your blockchain. This could be a reward system, or a platform for decentralized finance, as an example. If you are going to have a platform that incorporates tokens or coins, however, it is important that your transaction speed is high enough to be practically applicable.
There are also a variety of other use cases like supply chain management, digital identity, enterprise, and art. Whatever your chosen use case may be, having a clear and concise idea of what your system will accomplish is paramount, after that it is all development.
Deciding on a consensus system
The heart of any system is its consensus mechanism. This is the powerhouse of the chain and will determine key concepts like transaction speed, security, and accessibility for your community. There are many chains you can choose to build on, this will define the consensus mechanisms that you can use to build your protocol. Each consensus system will have a different effect on the final chain you are trying to produce.
Some of these systems include:
- BFT (Byzantine Fault Tolerance)
- DPoS (Delegated-Proof-of-Stake)
- PoA (Proof-of-Authority)
- PoW (Proof-of-Work)
- PoS (Proof-of-Stake)
It is important to go through these styles of consensus creation and understand their differences. Alternatively, you may choose to use an enterprise blockchain system, systems that are built for business and don’t require as much back-end development. You may also want to take the middle ground and use a hybrid system incorporating essences of both.
Choosing the right blockchain platform
Some developers choose to build using smart contract technology. In this case, a coder would not be building their own blockchain but instead would be building on top of an existing chain. This makes a huge difference in price and functionality of your chain. If you build off of one chain, your system will be required to work off of mainly the same rules as the parent chain.
As an example, if you build your blockchain off of the Ethereum network, your users will need to pay gas fees to transfer assets. Others may have a slower processing time or be less eco-friendly.
Development of the back-end is extremely important. This takes into consideration key topics such as the consensus mechanisms, tokenization, utility and governance, and many other important operational details. These factors decide the functionality of the chain, which is ultimately what communities will look for in your final product.
Tokenization is a critical point that needs to be considered. This is the idea of coinage on your chain. There may be more than one coin, there may be coins that perform a variety of functions, and ultimately, this results in the amount of coins or tokens that will exist as a whole on your network.
Digital identity is a topic that has always been prominent in the blockchain space. It takes the basic needs of people, digital security, and provides a platform that is completely reliable. When using blockchain technology for this kind of use case, you’re never required to present information, you are simply required to prove the information. This can be done without sharing any unnecessary or critical data.
In addition, Idntty uses eSignature technology to create deals and agreements between the relevant parties. Immutability, the fact that uploaded information can’t be changed, which is a well known core concept of blockchain, makes this system work. You can rest assured that your digital identity is kept safe and that deals made are stored reliably.
Built off of the same technology, the Lisk SDK, Kalipo focuses on governance and decision making. In recent years DAOs [Decentralized Autonomous Organizations] have proven to be a worthwhile extension of human governance practices. It facilitates quick and effective voting for a more equal and straightforward process of building consensus. Kalipo’s focus is this exactly.
NFTs are also an increasingly important part of blockchain technology today. This technology is pushing digital ownership and showing its dynamism with every new project created. Nowhere is this more true than with the social media NFT system Enevti.
Connecting followers with influencers through NFTs gives a greater connection between the two groups. Enevti bridges influencers with their communities and allows for a more genuine and fully realized sense of community.
How to become a blockchain developer?
In the world of blockchain, people are often put off by the technical aspects prevalent in this industry. They feel that there are so many moving pieces and such a mixture of concepts that it is impossible to grasp. This said, the great scope of the blockchain world is mass adoption. Any true believer in blockchain technology will tell you that the more involved you become in this arena, the better.
This all comes from having the tools and understanding that is required to get into blockchain development.
Yes, now with the development of SDK tools to create blockchain applications, it is possible to create blockchain programs using JS. There are many examples of this such as Idntty, Kalipo, and Enevti.
What is an SDK?
A Software Development Kit is a simple to use tool that allows for developers to open and start developing with. With SDKs you only need to have the capacity to code front and back end to your specifications and you can leave the heavy lifting out of it.