Blockchain development
Scrump team develops blockchain apps for business. We can help you implement your own cryptocurrency, develop an exchange and hold an ICO.
Blockchain and industry
Blockchains powers cryptocurrencies like Bitcoin or Ethereum. Bitcoin is especially popular and dominates the stock market. Digital currencies like Bitcoin have the advantage of low-cost transaction fees as well as being decentralized from government-issued currencies.
A block in a blockchain signifies the digital information or data that is recorded. Blocks are linked together using cryptography which is essentially a means of keeping information discrete and secure. The cumulation of these blocks creates a chain equivalent to a public database.
Blocks
The digital information contained in each block consists of three parts:
- Information about the blockchain transaction such as the date, time, and dollar amount of the transaction is recorded
- More specific information is recorded related to who is participating in the blockchain transaction. The purchase is recorded without using identifying information and relies on digital signatures.
- A cryptographic hash function (CHF) distinguishes the current block from the last block. This is a mathematical algorithm that maps data into a unique code comprised of a hash distinctively set apart from the hashes of other blocks.
A single block on a Bitcoin blockchain can store approximately 1 MB of data. In other words, a single block can hold the information of thousands of transactions.
For a block to be attached to the blockchain, a couple of things must happen. Of course, the transaction must occur. It is then verified through thousands of computers distributed across the net. The transaction data is stored in a block with the information from the first two steps listed above. And lastly, as per the third step, a hash is created. The distinction of one block from another is very important.
If you, for example, make a purchase on Amazon and make a nearly identical purchase just five minutes later, blockchain is equipped to distinguish the two transactions.
Smart-contracts
Each member of the blockchain network has a copy of the chain, hence the term distributed ledger. Blockchain networks also provide smart contract (chain node) services to applications. Smart contracts generate blockchain transactions in the first place which are distributed to peer nodes within the network where they are recorded.
The main difference between Ethereum and Bitcoin is the smart contracts, which are not present in the Bitcoin blockchain. Also, the Bitcoin network is only for Bitcoin tokens, while the Ethereum network can participate in other ERC-20 compliant tokens.
Advantages of Using Blockchain
Decentralized. Blockchain doesn’t depend on an intrusive middle man. This means no government currency and also no third parties for verification. In addition, transactions are spread across thousands, or perhaps even millions of computers – although only your blockchain network can access it. Thanks to this decentralization, data is never lost.
Immutable. The data structure of a blockchain uses an append-only format. Ill-intentioned parties can not alter or delete data that has already been recorded. Naturally, this provides an extra layer of security.
Secure. Cryptography has Greek origins tracing back to the words hidden and secret. Even its modern denotation signifies a method of secure communication. Blockchain uses cryptography to encrypt the data stored within blocks, keeping everything extra secure. Blocks can only be attached to the chain after going through a verification process that requires a consensus between ledger participants.
Transparent. As blockchain is a distributed ledger, everyone in the network has access to the same documentation. These digital copies all root back to the same digital information so you don’t have a dozen individual copies of sensitive information.
Efficient. Cost-efficiency is a basic tenet of blockchain technology. But blockchain is efficient in more than one way. When you trade using your traditional pen and paper, it slows down business operations. Digital transactions are much faster, and therefore more efficient. At the same time, digital information makes it much easier to store and record important business assets, ensuring traceability.
Our blockchain development services
- Individual cryptocurrency development.
- Cryptocurrency wallet development.
- Smart contract development.
- Nft-development.
- Defi-development.
Our team guarantees
High quality of our services.
Meeting all development deadlines.
Selection of the product strategy.
Implementation of the interface and basic functionality.
A reasonable price for the services.
Thorough check and analysis of each development stage, which will definitely allow you to achieve success in projects as well.
Launch and maintenance of the project to attract more active users.
Our ultimate goal is to work for the result, and the reputation we've earned over the years makes it impossible to think otherwise.
For business
By issuing your own tokens on blockchain, there is an opportunity to attract investor interest and capital so that your business idea can be realised quickly and productively. Every day, we are inspired by our collaborations with companies that make this world more inclusive, equitable and sustainable.
Cases
Cryptosnake
Blockchain platform Mineplex
Electus
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