Even though the buzz around cryptocurrency has died down, people are still interested in blockchain. With a CAGR of over 56%, the blockchain market is expected to grow from 4.9 billion in 2021 to 69.04 billion in 2027.
Blockchain technology has given us a lot of new ways to think about and use the web. It works as an immutable (same as fixed, unchangeable, and unshakeable) record of transactions that don’t need to be checked by banks, governments, or big companies to make sure the data is real and correct.
Developers at any reliable blockchain development company are already using this technology to improve the web and make what we can call Web3 or the decentralised web. Web3 is a web that is more open. It is NOT run by large companies that have made money by using and selling our data, information, and content in the past. Because of this, many people call it a “decentralised” web.
Let’s talk about how to make a blockchain app and how it can help businesses!
An Overview of Blockchain App Market
To get an idea of how the market for blockchain apps looks, you just need to know three simple things:
- There are different kinds of blockchains that you can use to run your dapp.
- A blockchain app can run on a permissioned chain, which only certain people can access, or on a permissionless chain, which anyone can use.
- DLT is still a new technology, and you can make any kind of app on the blockchain.
Various Types of Blockchain Apps
DeFi solutions include a wide range of financial apps, such as crypto loaning apps, decentralised exchanges, crypto wallets, and payment tools, to name a few.
You can make blockchain apps for various categories:
- Identity and Security Management
- Games and Gambling
- Decentralised Healthcare
- Supply Chain Solutions
But the financial side of your dapp will always be what drives it, no matter what niche or use cases you choose when making blockchain apps.
Potential Benefits of Blockchain Apps
You can expect that all of the benefits of decentralised tech will carry over to your distributed application. First and foremost, I’m talking about lowering costs, being open, being safe, and having your own independence.
The goal of blockchain-based applications is to improve business processes by getting rid of middlemen and other third parties. Because of this, the cost of doing the same work with less resources goes down.
All users of a decentralised app can see everything that’s going on in the app. This is often one of the main reasons why people choose a decentralised app over a traditional one.
Because of how blockchain technology works, a well-built decentralised app is more secure by default than any other app. Its system keeps data from being deleted or changed, and all app users have to agree on any changes to the app. All of the data is also strongly encrypted.
At the same time, if you want to build trustworthy blockchain apps, you will need security audits from well-known vendors.
Using smart contracts, a DLT app can give permission to do things on its own (required to develop blockchain apps). Built into a dapp, these mini-apps run when certain conditions are met. For example, a decentralised app can connect to a service that tells people when their flights are late or canceled and automatically send money to the people who were affected.
Different Kinds of Blockchain-Based App Development
Using permissionless or permissioned blockchain architecture, you can build different kinds of decentralised applications (dapps), depending on what you want to do with them.
Public decentralised apps are available to everyone on the mainnet (e.g., Ethereum) where you put your dapp. When blockchain app developers want to reach as many people as possible, this method is often chosen for DeFi solutions and crypto games.
Private dapps can only be used by people who are allowed to do so. Transparency, data integrity, and all the other DLT traits still work in these decentralised apps, but only for users who have been given permission to use them.
Private dapps are made up of consortium blockchain apps. Consortium dapps are different because they are made by a group of companies that work together to control how the app works and who can use it. The development of consortium block chain apps is not very popular right now.
How to Make a Blockchain Application
How do you start an application development project based on blockchain? How do you make an app that does what it says it will do and really shakes up a niche with its shared economy without having to spend a fortune on app development? Here are some things to think about when making a blockchain app.
Step 1: Define the Purpose
First, you need to think about who will use your app and how they will benefit from using a decentralised app in particular. Depending on what you choose, you will either build a private or a public decentralised solution, which will limit or allow public access to the app.
A decentralised app (dapp) is a great idea when:
- You need to create a fair economic environment for everyone involved
- You don’t want a central authority to control how the app works
- You don’t want to give control of the app to a third party.
- You want to know about every change made to data in the app. You also want to automate processes that can be easily put into algorithms.
During the process of making a blockchain app, your choice about whether a dapp is CeFi or DeFi will affect the tech stack and the way software is built.
Step 2: Use a Prototype to Test your Idea
Remember that your dapp should have a modern user interface to solve the user’s problems. It’s time to design a blockchain application. In this way, a decentralised app competes with every other app that is run from one place and helps customers with the same problems.
Because of this, a blockchain app should first be tested with real users using a clickable shell of the app. That way, you can see if people are likely to use it once the app is out in the real world.
Step 3: Build a User-Facing Part
After users have confirmed the prototypes, it’s time to flesh out the front end of your decentralised app. As we’ve talked about, your solution can be a mobile app or a website, and you should build it using the right technology stack.
React/Vue, Express.js, and Node.js with MongoDB or good old MySQL are all good choices for a web-based solution. Same as above, but Angular is used to build the part that customers see.
Writing a blockchain application specification that talks about the operating systems and other technical parts of the product will also help.
Step 4: Build your Dapp’s Backbone
Dapps are the same way, except that they usually have two back ends. One of the back ends is based on blockchain and is mostly made up of smart contracts. The other is like the back end of most apps, which is a web server that exchanges and processes data.
Step 5: Know your Toolset
Make sure the blockchain app developer you hire knows about the following technologies before you hire them. Please keep in mind that it’s hard to find and expensive to hire a developer who knows and has worked with blockchain technologies to build apps. Here are some development tools for web2 and web3 that are worth looking into:
- Python, Go, Rust, and C++
- Node.js, Solidity
- Web3.js or Ether.js
Step 6: Testing Dapps
After making a blockchain app, you need to check it carefully for bugs and mistakes. Especially if it’s a public dapp that’s been deployed to a mainnet, where there’s no easy way to fix it.
Remember that testing a decentralised application (dapp) should include both user experience (UX) testing of the interfaces and integration testing, which finds any problems with how your app connects with third-party solutions.
Step 7: Launching a Dapp
When you launch a decentralised app (dapp), you are really releasing several apps:
putting mobile apps for consumers on the App Store and Google Play Setting up a web app for consumers on a cloud service like AWS
Putting code for a blockchain on the mainnet
This way of releasing your dapp makes sure that you’ll be able to change different parts of it in the future as you see fit.
These 7 steps should have helped you understand how to make a blockchain application.
Since a few years ago, blockchain has been the most talked-about topic everywhere from the news to social media to office groups.
Blockchain technology news, with its apps, a blockchain consulting firm and blockchain development tools, are becoming more and more popular. It has a lot of fans and critics. It is becoming a popular topic, to the point where a normal company that changes its name and business model to fit the blockchain craze and make more money.