Improve Productivity with Ruby on Rails | Product Engineering Services

1
Blockchain App Development in 2023 - Still could
be the Big Thing? Blockchain has opened the door
for organizations to oversee digital assets
through decentralization and cryptographic
hashing. There is growing demand for the use of
blockchain development services and is booming
amongst many businesses. Also has the potential
for cost reduction. By 2030, blockchain is
expected to boost 1.76 trillion global GDP.
Blockchain app development connects your business
to its growth in the future. Blockchain set up
itself as a go-to technology in many business
processes. Businesses can build trust in their
users and customers. It also solves many problems
that companies face on a daily basis. With the
blockchain becoming so impoítant in 2022, we aíe
likely to see a similaí oí wide effect in 2023
as well. In the past six months, we have obseíved
yeaís woíth of digital tíansfoímation, which is
not going to íoll back once the pandemic is oveí.
So, it is obvious that blockchain would still be
impoítant in 2023.
info_at_katchintech.com
www.katchintech.com
2

• Facts about Blockchain Technology
• Over 20 countries have actively sought
  Blockchain.
• Many Blockchain-focused businesses are growing in
  success.
• 90 of banks and financial institutions in North
  America and Europe have begun exploring
  blockchain technology.
• It is anticipated that the blockchain industry
  will reach 67.4 billion by 2026.
• 50 of banks use the process of transacting via
  blockchain.
• Worldwide blockchain wallet users reached to 81
  million till February 2022
• It can reduce 75 cost on business operations
• Proof of concept and consensus mechanism in
  Blockchain app development
• Proof of concept in blockchain app development is
  the beginning point of any business
• and It is a type of consensus algorithm. With the
  proof of concept, we can figure out whether the
  Blockchain project idea can be achievable or not.
  Proof of concept in business test the blockchain
  project before moving to mass generation and help
  to get a clear picture of yourself before you
  even begin. Also, it determines potential
  irritants that may render the project
  unnecessary and save a lot of time and expense.
• A consensus mechanism in blockchain development
  technology transforms decentralized record
  keeping into a centralized database.
  Cryptocurrency and blockchain technology are
  based on consensus mechanisms for operation.
  Proof of Stake (PoS), Proof of Work (PoW), and
  Proof of Capability (PoC) are three popular
  consensus protocols in blockchain technology.

info_at_katchintech.com
www.katchintech.com
3

• Benefits of Blockchain App Development
• Enhanced transparency
• Transaction histories are now more transparent
  than ever thanks to blockchain technology. Each
  node in the network has a copy of the
  documentation because it is a particular form of
  distributed ledger. Everyone may view the data on
  a blockchain ledger with ease. Everyone in the
  network can notice the change and the updated
  record if a transaction history is changed.
• Decentralized structure
• Due to the decentralised nature of blockchain, no
  one has the independent authority to update
  records. Blockchain technology can be used to
  impose strict security in any sector that has a
  crucial need to secure sensitive data, such as
  governments, healthcare, financial services,
  etc.
• Enhanced security
• By all measures, blockchain is more secure than
  any other method of maintaining records. A
  record is updated if the majority of nodes or all
  nodes agree to do so. A transaction is also
  encrypted and linked to the prior transaction
  when it is accepted.
• Instant traceability
• It is challenging to track things back to their
  sources in supply chains that are complex.
  However, with blockchain, the trades of items are
  tracked, giving you an audit trail to find out
  where a specific object was acquired.
• Increased efficiency and speed
• In terms of industrial applications, blockchain
  promises unmatched speed and efficiency. This is
  due to the technology's goal of automating all
  laborious operations and maximizing your
  company's output.
• Automation
• Smart contracts enable the automation of
  blockchain transactions. The process is
  accelerated and made more efficient by using
  smart contracts. The next steps in the
  transaction or process are automatically
  initiated once the pre-specified conditions in
  smart contracts are satisfied.
• Human intervention is decreased via smart
  contracts.

info_at_katchintech.com
www.katchintech.com
4
Check out_at_ How Blockchain technology is
beneficial for 8 different industries.
Top Programming Languages for Blockchain App
Development

• Industries have placed a high priority on the
  development and application of blockchain. Many
  coding languages that you already know can be
  used in blockchain app development. Top
  programming languages for blockchain app
  development are -
• GO
• Programming languages that are compiled and
  statically typed include the Go language, often
  known as Golang. Due to its notable capabilities,
  Go is used by many developers globally for
  Blockchain programming development. Golang's
  developer friendliness, usability, speed, and
  lack of rigidity benefits both programmers and
  tech nerds.
• Python
• Out of all of them, Python may be the finest to
  utilise for blockchain programming because it is
  simpler to use and has more shortcodes. Python is
  an open-source language, so you can select from
  a variety of resources and plug-ins.
• 3. C

info_at_katchintech.com
www.katchintech.com
5

• The usage of C is encouraged by blockchain
  programmers because it has a respectable amount
  of run-time polymorphism, function overloading,
  and multi-threading. It enables programmers to
  modify the data to suit their requirements.
• Ruby
• Ruby gives programmers the ability to frame
  Blockchain programming via external APIs and
  plugins. Because it supports several paradigms,
  blockchain programming can be developed across
  multiple platforms.
• Java
• One of the most widely used and populaí
  píogíamming language is Java. lhis píogíamming
  language offeís extensive suppoít foí class-based
  object-oíiented píogíamming in the foím of API.
• Rholang
• You can include the Rholang programming language
  on the list of blockchain programming languages.
  It is a relatively new language in the IT world,
  and more user- friendly language. This ease of
  use reduces the cognitive load that most
  developers face.
• Solidity
• A more reliable and adaptive coding style for
  smart contracts is provided by the statically
  typed blockchain programming language known as
  Solidity. It also delivers excellent accuracy
  rates. Globally, developers advocate Solidity as
  the most popular and reliable Blockchain
  programming language.
• C
• Without the assistance of a developer, C employs
  straightforward Object-Oriented and Extensible
  Markup Language or techniques. For the
  distribution system it is nothing but the
  support. Having a rich library class, it is easy
  to implement and easy to use menu functions.

Now Thinking to Move Your Business to the
Blockchain? Blockchain Technology allows users
to authenticate, validate transactions, and store
information in the ledger to save from
corruption or modification. For this, Blockchain
Technology uses five key elements that are -
Encryption, Distribution, Immutability,
Tokenization, and Decentralization. If you
decide to develop software and applications on a
blockchain framework, there are a few steps you
will have to go through.
info_at_katchintech.com
www.katchintech.com
6

• Decide precisely for which parts of your business
  you want to use blockchain for.
• Verify that, Is Blockchain application the best
  solution for your commercial requirements?
• Incorporate your blockchain solution into your
  business plan, profit forecasts, costs and
  revenues.
• Decide which framework is best for your
  Blockchain app.
• Build blockchain implementation in partnership
  with all stakeholders.
• Katchin Tech provides product engineering
  services including Blockchain development
  services which makes Make dApps a Paít of Youí
  Business Reality and is the Leading Blockchain
  Development Company in India. Lead youí industíy
  by embíacing the íevolutionising technical foíce
  deliveíed by Blockchain.
• Visit for the more information _at_
  https//katchintech.com/blockchain-development-
  services/

info_at_katchintech.com
www.katchintech.com