So what exactly is blockchain?
The blockchain is a chain of time-stamped digital records, known as blocks, which are linked together cryptographically. Since every record that goes into the blockchain always stays there, it can be traced anytime, and nobody can tamper with the blocks of information.
The technology comes with the following benefits:
- Decentralization
- Transparency
- Trust
Stepwise process of developing a blockchain roadmap
1. Identify the problem and goal
The basic step is to define a problem statement, meaning, you should know the problems a proposed solution is expected to solve.
2. Identify the suitable blockchain platform
The blockchain platform depends on the consensus mechanism and the problems it has to solve.
Some of the blockchain platforms are:
Ethereum
Hyperledger Fabric
Hyperledger Sawtooth
3. Blockchain Ideation
Here you need to evaluate, formulate, and prioritize use cases for blockchain experimentation.
4. Developing a proof-of-concept
A proof-of-concept is a way to demonstrate the practical potential of a blockchain project and it can either be a theoretical build-up or a prototype.
When you are done with all these steps, you can generally land up with a solution according to your needs. The decisions related to all stages should follow the objectives you want of the solution alongside the desired infrastructure.The decisions related to all stages should follow the objectives you want of the solution alongside the desired infrastructure. Completely new blockchain solutions could lead to a long and comprehensive blockchain development process. However, you can also opt for existing blockchain platforms that can support the resourceful of blockchain applications development .
Therefore, blockchain has the potential to disrupt countless industries and how organizations operate within them. The technology is real and it is being evaluated seriously by many enterprises and government agencies to enhance and streamline operations.