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What is Blockchain Development? Why is Blockchain Important?

A blockchain is a distributed, decentralized, public ledger. It is a record-keeping technology. You can record transactions and track assets with blockchain.

Blockchains power cryptocurrencies like Bitcoin. Bitcoin has been very popular and now dominates the stock market. Cryptos have the advantage of low-cost transaction fees in addition to being decentralized from government-issued currencies.

A block in a blockchain means that data has been recorded. Blocks are linked by cryptography to keep information secure. These blocks create a chain that is equivalent to a public database.

There are be several blockchain development services that you might know about. What is blockchain development? In simple terms, blockchain developers are those responsible for developing blockchains. There are two types:

  1. Core Blockchain Developers. They are responsible for the blockchain system’s architecture, like the blockchain’s design and the consensus protocol. They also handle security conventions.
  2. Blockchain Software Developers. They create blockchain applications. They are also known as decentralized application developers because they build dapps (decentralized apps). They develop smart contracts using tools like Truffle and Solidity.

Why is Blockchain Important?

  1. Decentralized. It doesn’t depend on any middle man – no government currency or third parties for verification. Transactions are spread out to thousands/millions of computers, and only your blockchain network can access them. Since it’s decentralized, data is not lost.
  2. Immutable. Its data structure only uses an append-only format. No one can alter or delete data that has been recorded. Hence, this provides an additional layer of security.
  3. Secure. Cryptography comes from the Greek words hidden and secret. Cryptography is used to encrypt the data stored within the blocks. Blocks are attached to the chain after going through a consensus between the ledger participants.
  4. Transparent. Everyone has access to the same documentation. Digital copies all root back to the same information.
  5. Efficient. Cost-effective. Digital transactions are faster and more efficient. Digital information is easy to store and record, ensuring traceability.

Why should you hire blockchain development services? The technological industry goes beyond making mobile and web apps. If you are setting up a new business, you might not have any idea how to ask for your client’s credit card details and ensure that their personal information will be safe. Blockchain is the solution for your payment processing needs.

Why hire a blockchain developer? Blockchain development is not as simple as working on a programming language. The developer should have the following:

  • Capable of designing consensus, protocols, security patterns, and network architecture
  • Can supervise the entire network
  • Has development experience using blockchain technology for web or mobile apps
  • Programming expertise for building interactive dapp designs, and blockchain management

Integritas Solutions developers are pre-vetted, interviewed, and trained further to become software professionals. Their blockchain development services include the following: Blockchain Technology Consulting, Custom Blockchain App Development, Smart Contracts, Blockchain Wallet Development, and Blockchain Testing.

Their developers can adapt to situations that are within and outside the scope of their expertise. Talk to an expert here:

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