Talk to US-Based Blockchain Experts
No longer reserved for cryptocurrency, blockchain technology has begun to reach into new sectors like banking, healthcare, property management, government, and many others.
Ecodelogic maintains a stance of being on the curve of new technology advancement, and with this, we aim to provide fully customized and individual blockchain development services along with a top-of-the-line implementation of blockchain platforms, ledgers, and protocols.
All of this can be implemented into your business and tailored to fit your needs.
Our blockchain development services include the following:
Blockchain Mining Software
Blockchain Smart Contract Development
Blockchain Banking Solutions
Blockchain Wallets and Exchange Apps
What is Blockchain?
At its core, a blockchain is data storage and management across multiple networked computers rather than a single database. Every transaction, every pass of information has bits of data that become stored in a ‘block’ the moment they happen. Blocks can consist of hundreds of transactions at once. Once the block is created, it is verified by hundreds or thousands of computers, with the majority determining whether the information within is accurate. That block is stored at the end of the chain, a chain built upon multiple other blocks. It allows for quick and secure access to any point in the chain without compromising the security of those involved.
Think of it as an online store purchase. When you go through the checkout process, every piece of information you put in is encrypted, then passed by multiple computers. Each computer determines whether you did indeed purchase this item, and upon confirmation submits the information to the chain. Now that purchase is stored amongst the chain securely, and can only be accessed by an agreed upon vote. If the store you purchased from didn’t use the blockchain, and instead used a single provider to process payment, a hacker need only access that single provider to have your information. The blockchain would need the majority to agree to let the hacker in, which is a statistical impossibility.
Why Do I Need Blockchain?
For businesses that process any transaction, be it bank deposits, generating medical records, writing or accessing property records, navigate supply routes, and even voting, there is a need for blockchain development. Due to the way the process works, there are a handful of advantages:
- Lower costs per transaction
- Highly accurate automation
- Increased security and privacy
- Lowering Costs
- For every transaction you now make, you have to go through a central authority, be it a bank or otherwise. For each transaction you have an associated cost; this is why certain businesses deal in cash, to avoid this cost. At scale, that’s not feasible, and that’s where the blockchain comes in. Blockchain can process any transactions without associated fees, thus cutting down your cost considerably.
- Because our blockchain development networks thousands of computers together, no one person is responsible for verifying that information is correct. Each access point verifies individually, and even if one computation is incorrect, the majority overrides. This type of development ensures that your transactions are made without human error, because of checks and balances that exist within the blockchain.
- When information is stored in one centralized location, any security breach can be catastrophic because there is no additional level of security; that information becomes compromised. In Blockchain Development the information exists across multiple networked computers, and should one go offline or become compromised, the other computers still secure that information on the network. We can help set you up with this network to process your transactions or pass along information in blocks, thus keeping them in a secure environment accessible only by those who are part of the chain.
Regardless of what benefit appeals to your business the most, blockchain development can bring significant changes to your business infrastructure. While it’s not a new technology, it’s still relatively untapped, and can make a tremendous difference in your growth and optimization strategies.