Blockchain Development
It's not so hard to develop a Blockchain. It can be done in a few lines of Python code. However, there are some questions to answer before thinking about creating a blockchain.
Questions to answer before starting a blockchain
Public blockchains
- Will all parties run nodes or will some trust others?
- If the blockchain is backlogged, what impact might have this have on users?
- How will the project deal with forks and chainsplits?
- How will data privacy be achieved?
- How will operators comply with evolving regulations?
Private blockchains
- Who will run the nodes? Why?
- Who is going to write blocks?
- Who is going to validate blocks and why?
- If this is about data sharing, why can’t a web server be used?
- Is there a natural central authority whom everyone trusts, and if so why aren’t they hosting a portal
Both blockchains
- What data is represented on the blockchain and what data is ‘offchain?’
- What do the tokens represent?
- When a token is passed from one party to another what does this mean in real life?
- What happens if a private key is lost or copied? Is this acceptable?
- Are all parties comfortable with the data that is being passed around the network?
- How will upgrades be managed?
- What’s in the blocks?
Status:: #wiki/notes/germinating
Plantations:: Cryptocurrency
References:: Cryptoassets