How to implement a Blockchain Solution

#webdev #blockchain #javascript #tutorial

Key Steps for implementing a Blockchain solution

Identify the business requirements of the project
Evaluate if your project can be implemented with centralized databases or digital signatures
Form a mental picture of the benefits of implementing blockchain technology in your project
Identify legacy technologies or practices that need to be replaced or augmented
Do a cost-benefit analysis of introducing this new technology
Identify the key stakeholders and participants of the blockchain system
Agree on the governance framework of the operating network and build in accountability from the participants
Agree on an implementation methodology
Choose a blockchain platform based on your requirements
Identify essential enterprise tools that need to be built to successfully operate the blockchain solution. For example identity service

Have Stakeholders own and maintain a node on the blockchain network.
Make use of Blockchain as a Service(Baas) cloud platforms.
Access a public permissionless blockchain to record data. ( For example a public Bitcoin or Ethereum network )

Ethereum - is a blockchain platform with its own cryptocurrency, called Ether (ETH) or Ethereum, and its own programming language, called Solidity.
Hyberledger Fabric - is an open-source, permissioned blockchain framework, started in 2015 by The Linux Foundation.
Stellar - is a blockchain-based distribution ledger network, Lumens is the cryptocurrency made specifically for that network, and XLM is the coin's symbol.

Once you have executed the above steps properly you can proceed to build your blockchain solution.

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