At Softjourn, we recently launched SJ Coins, a blockchain loyalty program for employees, and in this piece, we’re sharing the steps that will help you create a successful DLT solution built on a blockchain application.
- Define your use case. (What pain point do you want to address?) Answering this puts you in a position to determine budget and launch date. It will also help you determine if you can do the development work internally or if you need outside assistance.
- Define how you want to handle your blockchain database. Next, you need to decide whether your blockchain database will be public, private, or hybrid. This information should help you analyze the available solutions and decide among these options:
– Plug into a running, public blockchain: Use an open, public blockchain like Bitcoin or Ethereum.
– Create a private blockchain network: Install blockchain software on premises and run it privately without open access for third parties or create a private network with partners or trusted peers.
– Go with a cloud-based solution provider: IBM BlueMix, Amazon Web Services (AWS), and Microsoft Azure offer blockchain as a service (BaaS). Monax’s platform is available on AWS and Azure.
– Start a public blockchain network: Run your own open-to-the-public blockchain instance, which enables anyone on the net to become a node.
- Test your idea with a POC. Because you need to show stakeholders that your idea is worth investing in, you’ll want to consider how to demonstrate that your use case will function in your environment as promoted
- Begin the blockchain software development cycle. During this step, you must make sure that developers have their own “sandboxes” in which to test and modify the app. Of course, it is also critical that your app passes user acceptance testing.
- Run your blockchain application in the production environment. The final step in the development cycle is to run your app in the production. When it passes the user acceptance testing, it’s ready to be sold on the App Store, Google Play, or other appropriate outlets
Ask Softjourn about a workshop to develop some use cases that could work for you and how Monax’s smart contract SDKs could apply to your planned use cases.