The digital development road is indeed long; since the 1960s, we have played around with zeros and ones, two digits to send data at the speed of light! The term ‘digital’ has been around since we can remember and sharing information has morphed into the Metaverse and blockchain technology is a major stride forward in the quest for a new dimension of digital connectivity.
What is blockchain?
Blockchain technology involves the transparent sharing of data, which makes it super-secure. Imagine chain of data cubes that are connected to each other; if you would like to learn how a leading Australian blockchain services company can revolutionise your business, search online for a Sydney-based blockchain developer.
Chronological data storage
All blockchain data is stored according to time, with each block of data linked to the one in front and the one behind. The only way to change the data is to add another block to the chain, so a blockchain is very secure; data cannot be added without the consent of all stakeholders (this takes place automatically in the background). Many experts boldly announce that blockchain is not hackable, we are kind of sitting on the fence with that one, but it is touted to be 100% secure. If you are planning to relocate your business, click here.
How can blockchain be applied?
Any large database can be integrated into a secure blockchain, which decentralises the database; governments, for example, make good use of blockchain technology for storing citizen data, which must be secure at all times. Of course, this tech is developing constantly, as developers are always looking to improve systems and if you would like to export all your business data to a secure blockchain, a Sydney-based developer can show you the potential benefits.
Choosing a blockchain developer
Software developers tend to specialise, with some choosing blockchain as their primary product; when looking at a developer’s website, be sure to check out their client list, which should have a few household names. The developer would offer an end-to-end solution with full support and most are happy to share an informal Zoom call to discuss your needs. Once the developer has the data they need, they can formulate a proposal that is tailored to your organisation and if you are in agreement, a digital storyboard is created to show you the interface details.
Web3 solutions
State-of-the-art projects are designed to run on web3 platforms; proof of concept is a process that can show investors the potential of a project and demonstrate product value to stakeholders. The next stage is Minimal Value Product, MVP, which is a cost-effective way to validate market demand. It is a low-cost way to bring a product to market and it proceeds the actual build.
Production sees the system go live and developers test for bugs and issues; once the blockchain is live, it can be scaled up at any time.