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Web development using blockchain technology
Blockchain is well known in the modern world, primarily thanks to news about Bitcoin, Ethereum, and other cryptocurrencies. At the same time, the technology's rapid development has led to its use not only for financial transactions but also in the development of services and applications. This increases security, accelerates information exchange, and ensures transparency.
CryptonisLabs specializes in creating innovative solutions for the crypto industry and Web3. We develop modern websites, mobile apps, and bots that integrate with blockchain, smart contracts, crypto wallets, and decentralized services. Our solutions help businesses effectively operate in DeFi, NFTs, crypto exchanges, asset tokenization, and DAOs.
The CryptonisLabs team creates products that combine security, scalability, and user convenience. We integrate with Web3 API, Ethereum, Binance Smart Chain, Solana, and other blockchain platforms, ensuring fast data exchange and transaction transparency.
Features of web development using blockchain
At its core, a blockchain is a decentralized system in which data about each transaction is stored in a continuous and immutable chain of blocks. Depending on the type of data access, a distinction is made between:
- An open blockchain is a database in which any participant has access to view transaction history, study information, and create smart contracts.
- A private blockchain requires users (the parties involved in a transaction) to have the appropriate permission to operate on the network, as it limits access to the information stored in the ledger.
- A public (permissionless) blockchain allows users to create blocks themselves and does not impose restrictions on the identity of transaction processors.
- A permissioned blockchain is open to the general public, but only allows a clearly defined list of identified entities to process transactions.
The use of blockchain in development has a number of features:
- Decentralized network
The database is decentralized, so even if one or more computers involved in the chain crash, the information won't be lost. This network structure makes the blockchain less prone to errors and ensures nearly 100% reliability.
- User control
Blockchain users who participate in a transaction have full control over the contents of the corresponding data block (where the transaction is recorded) and can track it at any time.
In open networks, there are no restrictions on reading block data and no restrictions on sending transactions for inclusion in the blockchain.
- Ensuring security
The blockchain relies on a consensus algorithm that maintains the integrity and security of the system. This makes the network virtually impossible to hack or make unauthorized changes to. This would require access to more than half of the system's computing power, as well as a huge amount of resources and money.
- Immutable records
Data stored in the blockchain cannot be altered. Once an entry is entered into the system, it remains there forever. Deleting information without the consent of all users is impossible.
The possibility of hacking by fraudsters is eliminated, thus creating a reliable transaction registry that can be completely trusted by all network participants.
- No intermediaries
Information is transmitted over the network without intermediaries. This process is implemented using consensus protocols that ensure all transactions are conducted in a trusted manner.
Interaction between parties occurs through a peer-to-peer network, without the involvement of a third party. This eliminates the need for payment gateways and large companies (such as Google, Facebook, and others) to act as intermediaries between users.
When and how should blockchain be implemented in business?
There are many possible uses for this new technology, including in insurance, logistics, supply chain, financial transactions, and identity verification.
If you're thinking about integrating blockchain into your business, try answering the questions below to see if it's a good idea.
Are you going to store a large amount of data?
You're unlikely to need a database unless your business project requires storing vast amounts of information. In that case, blockchain is useless.
If you plan to manage large volumes of data, you can use a distributed ledger (a database distributed across multiple network nodes). The key feature of this technology is the absence of a single control center: data quality across the network is ensured by database replication and trust built on computation.
The technology provides decentralized storage of information, eliminating the need to maintain multiple databases.
How often will the data be updated?
Paper documents are difficult to counterfeit, but their shelf life is limited. If transactions need to be frequently updated and printed, maintaining them on paper will be time-consuming and labor-intensive.
With blockchain implementation, this need disappears—the technology virtually eliminates the possibility of database hacking or data theft, effectively securing your operations. Furthermore, users will be able to track transactions at any time.
Should a central authority control the data?
Centralized solutions typically require lower costs, including information security, and are easier to use for the end user, but they can create trust issues due to a lack of transparency.
Blockchain has no central authority—transactions are verified by all network participants. This allows for greater transparency, simplifies the process, and eliminates intermediaries.
Blockchain integration offers numerous benefits, including scalability, security, and cost reduction. The technology enables the implementation of innovative ideas and increases business productivity.
CryptonisLabs develops reliable and secure blockchain applications and software for businesses. We utilize various web technology stacks, including JS, Python, Go, and Rust, as well as cloud computing solutions such as AWS, Google Cloud, and Digital Ocean. Our approach covers the full spectrum of development processes, from consultations to full project implementation.