Blockchain is considered a safe and efficient technology that can be used for automation business processes, asset protection and transaction verification. At the same time, blockchain technology has entered more and more unrelated industries, from fintech to medical care and education. Creation of blockchain -based applications may be a tedious task. In order to allow everyone to quickly understand the knowledge of blockchain applications, we will introduce all aspects of the development of blockchain applications through the following content.

What is a blockchain application?

Let us quickly review what is a blockchain (also known as DLT) and blockchain applications. After all, this technology is directly related to the most basic layer of DAPP application. Blockchain is a network that stored the received data in the block in order. Once a transaction occurs on the blockchain network, it will appear in the public domain of all network participants. The data block is stored in the chain, and once it is added to the chain, it cannot be changed. This makes it difficult for blockchain to be destroyed and stealing data.

If we think about why we use applications, we will have to admit that each application will store, process and display some data. Take stock applications on mobile phones as an example: price chart, industry news, index -all these are data, which are displayed, processed and displayed in the most understandable format. Take these data, the application becomes an empty shell.

For conventional applications (99% of the software today), the data is stored on the central control server owned by the company that builds an application. For example, Apple's stock application uses the company's server to extract information from the exchange and news websites, and then provides it to users through the application interface. The key here is that Apple fully controls the processing method of application data and the way of providing services to customers.

In contrast to this method, blockchain technology in healthcare pushes a new type of database to a technical field -a database without central authority but has a self -containing safety mechanism. It is a distributed database:

At the same time on multiple computers.

Verify the new data before adding the new data to the database.

Protect all data from being covered, edited or deleted.

Provide completely transparent to its state, including all updates.

In this sense, any application that depends on a distributed database -whether it is a mobile application or a network application -blockchain applications. You have it! For consumers, your blockchain application may look like another network or mobile application. However, if it runs a distributed ledger internally, it is a blockchain application, also known as a distributed application or referred to as DAPP.

From a user perspective, blockchain applications look like traditional applications. So this technology does not scare people. We use them as ordinary applications, but have all the advantages of using blockchain.

Overview of blockchain application market

Let's take a look at the introduction of blockchain technology unprecedentedly in terms of numbers and statistics.

According to State of the Dapps, the industry currently has about 4,000 DAPP.

In 2018, the size of the blockchain market was about 1.57 billion US dollars, and according to data from DOT Com Infoway, it is expected to reach $ 20 billion in 2024.

Grand View Research data shows that the global blockchain technology market size is expected to US $ 3.67 billion in 2020. The compound annual growth rate (CAGR) from 2021 to 2028 is expected to be 82.4%.

The most popular blockchain application development platform is Ethereum because it provides smart contracts commonly used in DAPP development. Looking at such technical performance and the overall blockchain application trend, we can assume that the development of blockchain software is now a promising idea.

Types of blockchain application

As we have found, blockchain is a useful modern technology that can serve many industries, such as banks, logistics and business. Many applications compete in the number of participants. In order to stand out in the competition, developers are implementing new blockchain solutions. Let's take a look at the specific narrow areas that blockchain can be applied.

Financial blockchain application

Defi application is the abbreviation of "decentralized finance" and is a tool for making money. These include decentralized exchanges, trading services, and other applications and blockchain platforms that interact with cryptocurrency. The most common type is:

auction. Transparency is the decisive factor for online auction. DAPPS allows to ensure the invariance of the bid and strictly fixed the bid time to eliminate the possibility of any manipulation. Therefore, online auction is a promising part of the blockchain application. The auction can be used with irreplaceable tokens, allowing real -time auctions and bids to be allowed.

Predict the market. The prediction market is a stock exchange. The object of the transaction is not a commodity, but the result of various events, such as sports competitions and even presidential elections. We take a futures contract for an analogy: While trading futures, you also bet on the rise and fall of asset prices. DAPPS allows users to make predictions on the market, not just voting for events provided by the blockchain platform.

Games and gambling. Thanks to the trend of creating and playing a (P2E) blockchain game, users can get tokens with actual value when playing games. Games and gambling can be classified as part of DEFI. Using DAPP, users can avoid the opaqueity of the assets in the game and the user cannot control their bid. Now the blockchain game ensures the reliable storage of user funds.

The development of the game blockchain shows the upward trend: As early as July 2019, the DAPPs of these categories occupied the top 5 of the popular application ranking of the blockchain. One of the first games, Cryptokitties, was released on the Ethereum platform at the end of 2017.

Non -financial blockchain application

Non -financial applications have nothing to do with remittances. One of the most common types is for applications for user recognition.

User recognition service. They are increasingly correlated with expanded remote services (such as online banking). Diversified applications provide secure and reliable user data storage. Using dapp, only you can access your data, the information will be encrypted securely, and for anonymity, you will get a unique address or ID number. From an organization's perspective, transparent and honesty are established during the authentication process, because a user cannot create multiple verified KYC configuration files.

Share disk or computing power service. With autonomous data storage and communication networks, they provide users with exchanges or receiving tokens in exchange for disk space or computing power. The main advantages include anonymity, transparency and security. The Safe network is the first of this kind of service; it uses the Safecoin token that is not sold anywhere.

DAO

Decentralization Autonomous Organization (DAO) is a particularly ambitious DAPP in the encrypted world. Their goal is to form a company without leaders. They formulated the rules of how members joined, voted or issued company funds during the development stage. In the encryption industry, DAO's operation is based on smart contracts, which is why the infrastructure of DAO is attributed to Ethereum.

It should be noted that DAO is not a platform, but a management system. For example, it is wrong to call UNISWAP cryptocurrency exchanges as DAO, but its decentralized management system is DAO. Management automation helps to get rid of a large number of employees, lawyers and accountants, and minimize human factors and corruption.

The benefits of blockchain applications

When you plan to create a blockchain -based application, what you don't want to think of is the hype around this technology. You need DLT to bring some tangible value to your solution.

Fortunately, you can expect the advantages of all decentralized technologies to continue to your distributed application. First of all, I talk about reducing costs, transparency, safety and autonomy.

1. Reduce cost

Blockchain -based applications aim to improve business processes by deleting any intermediaries and third parties in the workflow. Therefore, the cost of performing the same service when using less resources will decline.

2. Transparency

All users of DAPP can fully understand what happened in the application, which is usually one of the main reasons for choosing DAPP instead of traditional architecture applications.

Suppose a clinic and an insurance provider decide that they can significantly simplify cooperation by making the internal workflow transparent. The development of blockchain applications can help them achieve this new level of collaboration without generating additional overhead.

However, you should know that even if you build applications on a completely decentralized blockchain, it does not mean that all its users know how to verify transactions in DAPP. Therefore, the basic UI of the data on the data on the chain can be greatly helpful.

3. Safety

By default, the correctly built DAPP is safer than any conventional application, which is only because of the operation of blockchain technology. Its mechanism can prevent data from being deleted or tampered with, and any update of the application requires consensus to all application users. In addition, all data is highly encrypted.

At the same time, building a trusted blockchain application will require a safe audit of mature suppliers.

4. Autonomy

DLT applications can authorize certain operations by using smart contracts (required to develop blockchain applications). These mini applications built -in DAPP will be triggered when meeting the pre -configuration conditions. For example, decentralized applications can be connected to services that report to the reporting flight delay or cancel, and automatically initiate payment to the affected passengers.

The main industries that can benefit from the development of blockchain applications include: finance, insurance, health care, real estate, retail, travel ...

Blockchain application development factors that need to be considered

What needs to be considered when developing applications is to a large extent on the instruments, platforms and technologies you choose. But how to build blockchain applications in the most efficient way?

It is best to choose the blockchain that supports DAPP first, and then compare the advantages and disadvantages of the network. You need to choose 4 basic factors:

Blockchain technology. You need to analyze the popularity and trust of specific blockchain. For example, Ethereum is the most popular, and GoChain and OST are almost no one.

An operating system. You should choose the type of application -network, mobile or desktop -and the operating system you want to use, such as iOS or Android, Mac or Windows, or all of them.

A monetary model. This is how your application profit. It can be originally introduced asset sales, transaction costs or advertisements.

Developer. Developers play a key role in allowing your blockchain applications to run normally, so you need to find professionals who can use advanced programming language to write the correct smart contract code.

How to build a blockchain application through 5 steps

How to develop the question of blockchain applications is simple. You only need to go through the following development phase.

Step 1: Analysis project. Pay attention to market analysis and project assessment, and then define the scope, budget and period of project.

Step 2: Create design. Find reference and define your personal visual preferences and develop design with the UI/UX team.

Step 3: Develop application. Consider the functions of your application, work logic, the possibility of interaction with users, and internal services. Coordinate all your ideas and create products with the development team.

Step 4: Test the application. Test operations will allow you to check all aspects of the correctness of the application and avoid errors in its future operation.

Step 5: Release the application and get feedback. Start the application and collect the feedback from the first batch of users. The idea of improving your blockchain application.

Development blockchain application: FAQs

1. What is a blockchain?

Blockchain is a decentralized point -to -point (P2P) network composed of data blocks. These blocks are added to the blockchain in the order of time and contain all information about each transaction in the blockchain. The characteristics of the blockchain are non -degeneration, traceability and anonymity.

2. How to help your small business development?

By eliminating intermediary agencies, the use of blockchain transmission funds will be conducive to local and international transfer. If this payment is effective, small companies will benefit from cheaper costs and faster funds.

3. What are the necessary blockchain development tools?

Solidity, TRUFFLE, GANACHE and Blockchain Test Network. Make sure your blockchain application developers are proficient in this technology stack.

4. How to create a blockchain application?

Blockchain application development is a complex process composed of different stages. First of all, you need to propose an application creativity and determine the challenges to solve your application. Then, you need to determine the technology stack, the function list in the application, create a user experience and user interface design, and start the development process. In the final stage, when the application is fully tested to eliminate any problems, you can put the application into the market.

The above content introduces the basic situation and benefits of blockchain applications, and how to develop a step in a blockchain application. Before the development of the blockchain project, many things need to be considered. At first, it is necessary to sort out your project needs and will help reduce many problems that will eventually occur due to the incompetent plan. After the development of blockchain applications is well developed, it also needs to be continuously tested in order to invest in the market.