Building Blockchain- Guide for Beginners

• Vikash Kumar Das
• August 29, 2020

Want to become a blockchain developer but don’t know where to start? You are in the right place, as this article will assist you in building your blockchain solutions.

 

Table of Contents

 

• Blockchain- A Buzzword  
• Delving Deep into Blockchain 
• How to Build Blockchain?
• Best Blockchain Learning Platform
• Concluding Lines 

 

Blockchain- A Buzzword  

 

Blockchain is one of the most exciting technologies of 2020 that is taking the world to the next level. From enabling cross-border payments instantly to enhancing all significant industries, including supply chain, digital identity, eCommerce, healthcare, and more, blockchain has occupied a decent position globally. Many tech giants, such as IBM, Microsoft, and top enterprises and businesses, including public sectors, are adopting and implementing blockchain technologies for their operational purposes. If you are thinking of starting your career in the blockchain space, this is the best time to invest your time and enhance your skills in this domain.

Blockchain developers and technocrats believe that this is a revolutionary technology, which indicates demand for blockchain professionals and crypto enthusiasts will grow in the years to come.

 

Delving Deep into Blockchain 

 

Blockchain is a peer-to-peer, decentralized, and distributed ledger technology that sets it apart from traditional record-keeping. The technology ensures new levels of trust and transparency while maintaining immutability, security, and privacy. Blockchain is defined as the public ledger, a series of blocks where verified transactional details are recorded by the designated network participants. 

 

Further, blockchain can be permissioned or private, or you can say blockchains can be public, private, or federated. A public blockchain is a permissionless, non-restrictive, distributed ledger system, which means anyone connected to the internet can join a blockchain network and become a part of it. Talking about private blockchains, it is permissioned and a restrictive blockchain that operates in a closed network. Such blockchain is mostly used within an organization where only particular members are participants of a blockchain network. 

Federated blockchains, on the other hand, is best suited for organizations where there is a need for both types of blockchains, i.e., public and private.

 

How to Build Blockchain?

 

Here are a few steps that will help you in building your blockchain application.

 

 

• Identify a Use-case

 

 

Blockchain has the potential to revamp almost all industries, including finance, supply chain, manufacturing, eCommerce, and much more. So the first step is to select a domain for which you want to create a blockchain. If you want to create a blockchain for your own usage or for a particular enterprise, you have to build a private blockchain-based application. 

 

 

• Choose Appropriate Consensus Mechanism

 

 

Understand the importance of consensus algorithms that ensure that each user in the network has a copy of the same ledger. These are of numerous types and work on different principles based on the overarching cryptographic protocol’s security and economic framework. Proof-of-Work, Proof of stake, Byzantine fault-tolerant, Proof of Elapsed Time, Simplified Byzantine Fault Tolerance, Delegated Proof of Stake are few well-known consensus algorithms. Before choosing one randomly, gain an in-depth understanding of each and based on that select the best one for depending on your use-case.

 

 

• Choose Between Public and Private Blockchain

 

 

Decide which suits you better, and determine whether you need a public blockchain or a private one for your blockchain solution. Understand all points of differences between the two and choose wisely.  

 

 

• Select the Most Suitable Blockchain Platform 

 

 

As the blockchain field is booming, it offers plenty of platforms to its developers. The few most popular platforms are Hyperledger, Ethereum, BigChainDB, Chain Core, Corda, Multichain, Quorum, etc. Presently, businesses are adopting and implementing blockchain for building blockchain applications, demand for the blockchain development platform is also rising up. The demand for decentralized applications, also known as dApps, is the other major reason why blockchain platforms are increasing now and then.

 

 

• Understand Whether You Need Smart Contracts

 

 

These are a self-operating computer program that executes automatically when desired conditions are met. Since these run on the blockchain, they run exactly as programmed, without any chance of censorship, downtime, deception, or third-party interception. If you think that the features provided by smart contracts are exactly what you require for building your solution, you should consider incorporating them.

 

 

• Final Decision 

 

 

If you follow all the above-mentioned steps, you will definitely end up making a solution that fits your project. It is important to note that your decisions like selecting a type of blockchain, consensus mechanism, blockchain platform should be solely based on the goal you want to achieve, which is defined in the first stage. Reconsider all the points before choosing and finalizing anything. Be prepared to invest your time and efforts in building your blockchain application. 

 

Best Blockchain Learning Platform

 

As the field of blockchain is booming, there are several online platforms coming up in the market to offer online certifications and online training in blockchain space. Among all,  Blockchain Council is one of the best online platforms that impart world-class training to all the enthusiasts who are ready to give their career a good start. The certification earned from a prestigious company like Blockchain Council will prove to be your competitive advantage giving enterprises confidence in the quick hire. 

 

Concluding Lines 

 

Blockchain developers and technocrats are leveraging blockchain for adding values to businesses by offering transparency, security, traceability, and efficiency. If you want to become a certified blockchain developer, hope the above-mentioned points will help you in building your blockchain application. 

 

To know more about blockchain certifications and become a blockchain expert, check out Blockchain Council.