The blockchain is an ingenious invention promising to make the digital world more secure and decentralized. By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currency, Bitcoin, (Buy Bitcoin) the tech community is now finding other potential uses for the technology. In very near future, we are going to see blockchain being used in daily transactions of all kinds, be it a banking transaction, or a purchase made on e-commerce websites or even a tinder swipe.
Every person in the technology world understands or has at least heard of blockchain. But a minuscule number of developers actually know how to develop a blockchain token or application, or where to start from. Let us take a slightly detailed look at the development process of a blockchain application.
Introduction to Blockchain development
At this point, I am assuming you are aware of blockchain basics i.e. what blockchain is, where it originated and where it can be used. If you want to know basics of blockchain, this blog is a good starting point.
As every other development process, blockchain application or token development also requires us to delineate the scope and purpose of the application. It can be simply a coin like Bitcoin, a smart contract for real estate or something else. Let us take a look at these steps that are precursor to the actual development
Ethereum uses a proof-of-work algorithm, called “Ethash” which requires more memory to make it difficult to mine .
c. Use tokens on existing blockchain platforms - This is a little different from the previous point. In the last point, we were cloning the whole blockchain platform and deploying it on our own servers, assuming we'll have enough number of network nodes which will validate the transactions by "mining".
But we can also "just create tokens" and deploy it on an existing running blockchain like Ethereum. These platforms offer ready-to-use APIs, algorithms and mining strategies to easily implement blockchain in your application (Blockchain as a Service ) . You won't need to create a separate waller for your tokens /transactions because Ethereum tokens are accepted by a variety of existing wallets.
- Metamask - To run Ethereum dApps right in your browser without running a full Ethereum node (https://metamask.io/)
- Parity - Most advanced Ethereum deployment client (https://paritytech.io/)
- Etherscan - Block explorer on Ethereum, for monitoring (https://etherscan.io/)