What is blockchain used for & When to go for blockchain implementation?

blockchain

(Varun Raj) #1

For the past two years blockchain is getting a lot of tractions recently in both small scale as well as a large scale systems. But the real questions comes if the systems are really needed to be built with blockchain, if so what are the factors to consider when moving to blockchain and how can we implement that. This topic I majorly wanted to cover few common question that people might have and want to get clarified.

  1. When Blockchain is needed?
    A blockchain is all about forming trust between multiple parties and maintain the data which can be controlled by everyone in the network. This gives us a clear picture that blockchain is implemented in systems that has multiple parties involved in the data moderation and lifecycle. And also the data which is put in the blockchain can be transparently shared.

  2. How to build it?
    The implementation can be of various methods including public blockchain and private blockchain. Based on the use cases it will differ. Also there are N number of frameworks for the implementation.