What is blockchain application development? How does it work?
Blockchain is a clever invention that is expected to make the digital world more secure and decentralized. By allowing distribution rather than copying digital information, blockchain technology creates a pillar of the new type of Internet. It was originally designed for cryptocurrency Bitcoin (purchasing Bitcoin). The technology community is now looking for other potential uses of the technology. In the near future, we will see that the blockchain is used for various daily transactions, whether it is bank transactions or purchases on e -commerce websites. Let ’s take a look at the development technology of blockchain application? How does it work?
What is a blockchain?
Blockchain is an innovative system that stores and transmit information in the form of continuous transaction blockchain. The block is included in a single database, and the database is automatically updated when submitting each new affairs.
Simply put, the blockchain is a database running on thousands of computers (nodes) at the same time, so that each computer (node) always has the latest information. Thanks to this, it has achieved decentralization, that is, the "main server" we are accustomed to see.
The basic principle is the transparency of all execution operations (each participant can view any operations at any time), and it is impossible to change them in the past period. Each block in the database contains information about the previous block. Therefore, it is impossible to change the information in separate blocks, because this will affect all the previous blocks until the first block.
During its appearance, blockchain technology was specially used in cryptocurrencies, and was later adopted by some banking institutions. However, to this day, the new system has penetrated into our daily life. The commercial application development platform based on blockchain technology can even monitor the compliance of the copyright. It is not necessary to follow the standards of the product's production process, let alone all financial transactions.
What is a blockchain application or dapps?
Dapps is a decentralized application. The blockchain does not act as a server of intermediary characters that act as users exchange messages, money or data. This has opened a lot of possibilities for many industries, and this is why blockchain applications are developed related to so many enterprises.
All members of the blockchain network are users and mini servers at the same time, they are responsible for verifying and sending data. Let us discuss the working principle of the blockchain more in detail.
How does blockchain application work?
Before studying the working principle of DAPPS, we need to understand the working principle of the blockchain.
Blockchain is a network that shares all data between its peers and stores these data in the block in the order of time. This means that once the blockchain network (for example, transaction or data exchange), it will be shared with all members of the network, and everyone has this record of this action on their own equipment.
These data blocks are stored in a chain, and once the data is added to the chain, it cannot be changed. This makes it difficult for blockchain to be violated and stolen.
To set up a blockchain, you need a few GB to 1 TB storage space. Because there are so many space for mobile devices, Dapps usually only runs on a part of the chain.
According to the network type, there are two types of blockchain.
All members of the network can access unauthorized blockchain and can be used on any device. Each user can access code, verify transactions, interact with others and maintain anonymous. For example, Bitcoin does not require licenses.
The permitted blockchain allows only authorized participants. All users have roles and permissions. The licensed blockchain has the rules of regulating transactions among members of the network. This type of blockchain is very suitable for managing internal operations.
The type of blockchain system/solution
How to develop blockchain applications from the classification of blockchain solutions -network, cryptocurrency support, and network -based blockchain type. When talking about network -based blockchain development, you can choose to have no license blockchain solution or promotion of blockchain solutions.
Permissionless Blockchain: In the available blockchain, the entire network can be visited publicly on all computers and devices. Anyone can access the code, start public nodes on local devices, initiate network interactions, verify transactions, and maintain anonymous. In short, decentralized, equal access, and anonymous blockchains are called unparalleled. For example: Bitcoin, Ethereum.
Permissioned Blockchain: It refers to a closed ecosystem, and only authorized participants can take action based on their specific roles. These types of blockchain are based on a set of rules. How these rules are managed to implement transactions to meet the needs of specific organizations (such as: for database management, audit, etc.). For example: multi -chain.
However, there are two types of blockchains, but when they involve public and private authority, these types are further divided into publicity and non -allowable, public and licensed, private and non -promoter, and private and licensed.
Enterprises are looking for private and licensed blockchain networks. Private and licensed blockchain can also be called alliance blockchain.
This type of blockchain system provides the core function of the blockchain architecture, such as automatic data synchronization, non -degeneration, ability to process multiple permissions, process automation, strict privacy and security functions, etc., so as to build more efficiently to build more efficiently The system of systems and data -driven business models are lower at a lower cost.
Blockchain type based on cryptocurrencies
Based on the participation of cryptocurrencies, the blockchain is roughly divided into a solution based on cryptocurrencies and non -cryptocurrencies.
Blockchain based on cryptocurrencies: As the name suggests, these types of blockchain solutions are operated based on cryptocurrencies. The type of popular blockchain belonging to this type is:
1. Wallet: These are safe digital wallets that save public or private keys that can send, store or receive cryptocurrencies. Also known as cryptocurrency wallet or encrypted wallet, this blockchain type is mainly related to the conversion and transaction of cryptocurrencies in centralized, decentralized or mixed scenarios.
2. Cryptocurrency Exchange: These are basically a blockchain system for trading cryptocurrencies or digital currencies. They accept credit card payment, postal exchange and other payment methods, and send cryptocurrencies to your cryptocurrency wallet. They are also called digital currency exchange (DCE) system.
3.ICO: Initial coin products (ICO) or initial currency products (ICO) are said to be a crowdfunding system for processing and sales of cryptocurrencies/cryptocurrencies.
4. Dapp: Decentralization application or DAPP development service is a service that handles applications that are not controlled by a single entity. With the help of trust agreement, it can run in real time by multiple users on the decentralized P2P network. Augur, Golem, and SIA are the best examples of DAPP development companies.
Blockchain based on non -encrypted currency: This type of blockchain application development service solution does not depend on encryption token. Basically considering inventory management, this blockchain type is based on distributed ledger technology (DLT). Want to know what is distributed ledger technology? From a technical point of view, it is a database distributed on various nodes and computing devices. Here, each node has a copy of the ledger and can be processed independently. The most impressive thing is that the classification account is not managed by any central institution. You can change it on your personal level, and then vote for the node to obtain the maximum approval. This kind of voting process that requires most people to be updated is called consensus. Once a consensus limit is reached, it will be changed directly in the database.
1. What is the process of using blockchain to create applications?
Applications created by blockchain technology increased data privacy and make it more secure. Blockchain coding technology is difficult to crack, because all information is encrypted and saved with encrypted hash. The decentralized architecture also reduces the risk of third -party destruction of applications.
2. How long does it take to create a blockchain application?
The duration varies from the needs and technology of the application. The project starts with the concept verification (POC) trek for about 20-30 days. After the completion, there are 30-40 days until the minimum feasible product (MVP) is created-this includes only basic functions.
3. How to use blockchain in applications?
Blockchain applications far exceed cryptocurrencies and Bitcoin. This technology can improve transparency and fairness, and can also save time and money of enterprises. It is affecting various fields from various ways such as implementing contracts to improving government work efficiency.
The above content is the interpretation of blockchain application development technology and the working principle of blockchain applications. Blockchain -decentralized applications are safer than any other types of applications; they provide fast international transactions, provide transparent storage, and ensure that data will not be changed. Blockchain technology is still developing, and it will apply it in various ways in more fields in the future.