If you intend to launch your blockchain project without being a developer, hiring technical specialists can be challenging. Since blockchain is a new technology, it is still difficult to find experienced specialists to work with it to realize your idea in the best possible way. Next, we will talk about the features of blockchain development services, where to find and how to choose experienced specialists to launch such projects.
Features of blockchain development
Blockchain is currently one of the most breakthrough technologies, which is the best solution for launching projects where reliability, accuracy, security, transparency, and decentralization are needed. Therefore, the global blockchain market is expected to grow from $3.0B in 2020 to $40B by 2025 at an impressive 67% CAGR. Moreover, the blockchain will be used in various areas: finance, logistics, accounting, marketing, document management, voting, fiscalization, and many others.
At the same time, blockchain is also a rather complex technology with features, advantages, and disadvantages that everyone who wants to use it should understand, especially when it comes to using blockchain to optimize the business processes of real enterprises.
When is helpful blockchain?
And the main feature is that the DeFi staking development is not a universal solution that will suit everyone. This is not a magic wand that will solve all your problems but a specialized tool that should only be used occasionally. So, according to the research of Brian Scriber, the applicability of the blockchain should be based on the following criteria:
You need immutability
This guarantees that members of your ecosystem cannot change historical data. If immutability is not required, more straightforward methods exist to run its platforms and applications.
Your system is not meant to be uninstalled or repaired.
In the blockchain, information can only be added, which is essential for finance and fiscalization but is in no way suitable for storing personal and business data in ERP systems and other user databases, where you need to delete outdated data and constantly correct various errors and inaccuracies.
You need to build trust between multiple parties.
The blockchain was created to organize trust-based interactions between several participants without the help of a third party – a guarantor (bank or state). The blockchain may be overkill if you need a system with only one party (your company). There are plenty of other solutions for this.
Do you need transparency, full or partial?
If you are already using external controls (escrow and notary services) to verify and audit transactions and are satisfied with them, then you probably do not need a blockchain. Unless these services are too expensive and you want to save money.
You need your decentralized ledger.
These systems are usually quite expensive, so they are not used where a central server or group of servers is sufficient. However, if you want the system’s reliability against node failures and the security and integrity of having multiple participants, you need a blockchain.