Public Blockchain development is a complex and challenging task that requires technical expertise along with a coherent strategy. However, following the right approach along with careful planning could help you build a platform that can transform your business ideas into reality. Before delving deeper into how to make a public Blockchain platform, let’s understand the difference between public and private Blockchain and why businesses must choose to build public Blockchain over private Blockchain.
Public vs Private Blockchain: The Difference
One can differentiate public and private Blockchains in terms of their governance, accessibility, and use cases. The following pointers will help you understand the major differences between public and private Blockchain networks:
Accessibility: Anyone can join a public Blockchain network due to its open accessibility. On the other hand, only specific users, who have access to the network, can join a private Blockchain network.
Governance: Due to their decentralized nature, public Blockchain networks are governed by network participants. Private Blockchain platforms are handled by a central authority that controls the entire network.
User Cases: Public Blockchains are best suited for applications that require immutability, transparency, and security. Decentralized marketplaces, digital currencies, and voting systems are some prominent use cases of public Blockchains. Applications that require confidentiality, privacy, and complete control should be built on private Blockchain platforms. Use cases include healthcare, supply chain management, and finance.
Community: Public Blockchains have a very active and large community of developers and users as compared to private Blockchain networks. The Blockchain community will not only play a significant role in network improvement and bug fixing but also make it more robust and secure.
Tips to Make a Public Blockchain Platform
The following are some noteworthy steps to help you get started with Public Blockchain development:
Choose the Right Use Case
Start with the public Blockchain development process by identifying the right use case. A public Blockchain platform could be developed for the following popular industries:
- Healthcare
- Supply Chain
- Real-Estate
- Finance
- Banking
Select a Blockchain Platform and Design the Architecture
Choosing an underlying Blockchain platform is the second step in public Blockchain development. Ethereum, Hyperledger Fabric, Bitcoin, and Corda are some most popular options for creating a public Blockchain platform. You must define the consensus mechanism, data structures, and smart contracts to be used in the Blockchain network to design the platform architecture.
Set Up Nodes
After identifying the underlying Blockchain and designing the platform architecture, the next step is to create the nodes of your Blockchain platform. You must set up multiple nodes to ensure security and decentralization. However, it is crucial to identify your hardware and software requirements. Aspects such as processors, memory, disk size, and more will fall under hardware requirements whereas operating systems such as Ubuntu, Windows, Fedora, and more will come under software requirements.
Smart Contract Creation and Audit
You must develop and deploy smart contracts on your Blockchain platform tailored to your specific use case. You can also get in touch with a renowned smart contract development company to understand the detailed process and know the estimated smart contract development cost. In addition to that, you must also consult smart contract auditors to get your Blockchain application conveniently.
Test, Launch, and Promote Your Application
Once you’re done with smart contract development, it is crucial to perform several tests to ensure that it is functioning as intended. The next step would be to launch the application on the market for public use. To make your Blockchain platform more accessible, prepare a comprehensive marketing strategy. You can promote your platform by attending conferences, through social media platforms, consulting influencers, and partnering with other companies.
Conclusion
To conclude, the steps listed above will help you get started with public Blockchain development without any hassle. In the times to come, public Blockchain platforms will pave the way for a more secure, inclusive, and transparent environment while bringing significant benefits to businesses, individuals, and society. Antier, being a trusted Blockchain development company, has been serving its clients with advanced public Blockchain development services over the last couple of years. The company has been recognized among the top Blockchain development companies by various research and review firms such as Clutch, GoodFirms, AppFutura, and many more.
Our consulting team ensures that you have the best experience with us from the beginning of the Blockchain development project. We understand your Blockchain development needs and future goals and indulge in brainstorming sessions to provide you with advanced services. In addition to that, we also make users aware of what public Blockchain platforms have in store for the future.
Feel free to get in touch with our experts today to know how to make a public Blockchain platform or share your business needs.
