Create Blockchain from Scratch: A Detailed Guide

Explore the step-by-step guide about how to start building your blockchain from scratch

The term "blockchain" has recently gained popularity among developers and companies aiming to improve visibility, record transactions, ensure security, and expedite processes. The idea has, however, occasionally become the victim of the telephone game, with many people misunderstanding its practical advantages, applications, and implementation needs.  The guide for building a blockchain from scratch is available here.

Step 1:  Find a Challenge to tackle

All the advantages a blockchain system which is a digital ledger might provide can be very alluring. Just keep in mind that there isn't a universal solution. The first thing you should do is hammer out your goals. Examine your organization's overall needs and carefully contrast them with the high-level use cases of blockchain development that we have just thoroughly described.  An accurate problem statement that lists all the issues you're trying to resolve can be useful. Make sure a blockchain solution can address these problems before implementing it. The next step is to assess whether you need to convert your present solution to a blockchain application or create one from scratch.

Step 2: Outline Together Your Business Requirements

To ensure sure nothing slips through the gaps, you'll then need to design your company requirements. For a complete ecosystem, think about the technologies you'll need both on- and off-chain. Making a more concrete product roadmap using these elements can help you stay on schedule and understand your resource needs.

Step 3: A Consensus Mechanism Should be Found

Finding a consensus mechanism, a form of methodology used to achieve trust, security, and agreement in a decentralized computer network, is the following phase. While there are many other consensus mechanisms available, some of the more well-liked ones in use right now are Proof of work, Proof of stake, Byzantine fault-tolerant, Deposit-based consensus, and Proof of elapsed time. Make sure to invest the time necessary to research each and choose the consensus mechanism that will best serve your specific business needs and goals.

Step 4: Select the Most Effective Blockchain Platform

The platform you choose for your blockchain application will affect the set of skills your development team will need, therefore it's critical that you make the proper decision. Make sure you select the platform that best fits your company's demands because the entire process requires a lot of study and time for effective development. When weighing your options, take into account the issues you're trying to resolve, the consensus methods, the cost, the needs of developers, and the anticipated timeline.

Step 5: Create Your Blockchain Nodes

Determining whether a permission or permissionless blockchain network is required, the programming languages you'll employ, and any other factors that could influence development are essential. What kind of solution private, public, or hybrid do you need to meet the needs of your business? The blockchain nodes will run locally, in the cloud, or both. Which operating system will support your application? There are many factors to consider at this stage, so make sure to properly research all of your alternatives and evaluate them in light of your objectives, available resources, and financial constraints.

Step 6: Create a Blockchain Configuration Plan

You'll need to prepare for several configuration elements for the majority of blockchain platforms, including Permissions, Asset issuance, Asset re-issuance, Atomic exchanges, Key management, Multi-signatures, Parameters, Native assets, Address formats, Key formats, Block signatures, and Hand-shaking.  Remember that some of these components are modifiable in real time. However, to guarantee good development, it is always best to plan.

Step 7: Create Your APIs

On certain systems, but not on others, application programming interfaces (APIs) have previously been developed. You might need to create APIs for creating key pairs and addresses, performing audit-related tasks, authenticating data (using digital signatures and hashes), storing and retrieving data, managing the lifecycle of smart assets, and creating smart contracts, depending on your needs.

Step 8: Construct the User Interface

The user interface (UI) design for each software component can be started once the complete app has been planned. The back-end UIs and the APIs you created will work together: Technical and visual designs have an impact on the architecture of the app, as well as its overall appearance.

Step 9: Select a Blockchain Application Accelerator to Improve It

How do you know your blockchain app will be deployed successfully now that it has been created? A hardware accelerator is required for computationally demanding blockchain applications to improve performance, enable flexibility, and make optimal use of power. Additionally, accelerators aid in the improvement of specific blockchain elements, like data storage, governance, and transaction validation. To boost transactional speed and output, they divide transaction loads across several components, which helps save time and storage space.