Private Blockchain Development Company In Kansas

The key difference between private and public blockchains is in terms of their accessibility and control. Public blockchains are decentralized public networks that anyone can participate in, view transactions and verify them. Two noteworthy examples of public blockchains include Bitcoin and Ethereum.

Private blockchains, on the other hand, are accessible to selected group members, individuals, or organizations. Unlike public blockchain, these networks are not open to anyone and any outsider requires permission to participate in or join the network. Private blockchain development is more used by business organizations or firms for their internal purposes which require more control over their network operations. Private blockchain data is not accessible to the public and transactions are validated only by the network participants who have the authority to do so.

Private blockchain development allows your business to safeguard your data by giving limited access to authorized participants or network members only.

Here are the key benefits of private blockchain in business –

Cryptographic auditing – Audits via cryptography provide an additional layer of security to private blockchains and are much more secure than public blockchains. It adheres to your organization’s privacy policy, it eliminates all the potential loopholes and vulnerabilities.

Enhanced efficiency – Given all the numerous benefits offered by private blockchain including the secure sharing of data and information within the network, it has proven to improve operational efficiency.

Glorified database – Private blockchain is an interconnected network that allows members or participants to join only after authorization. This makes the database safest as anyone cannot view or access the data without entity authentication.

Network Control – Another benefit that private blockchain development offers is complete supervision of the network and its operations.

Here is an overview of the most critical aspects that the developers of our private blockchain development company in Kansas focus on while creating a private blockchain network:

Privacy – Being a private network, we give immense importance to the privacy of the participants in the network, terms, data, and transactions. We ensure that our private blockchain application operates efficiently in the best interest of the participants.

Smart Contracts – Smart contracts streamline the process of contract execution by automating the verification and enforcement of the terms of the agreement between the parties. So developers need to incorporate smart contract functionality into the network to automate the chain’s operations.

Data Integration – Implementation of a private blockchain network requires proper integration of traditional databases which facilitates transaction analysis and processing.

Interoperability – By creating interoperable blockchains we make sure that our networks work seamlessly with other networks and interact with each other to facilitate the easy exchange of data and assets across blockchain platforms.

Governance – Private blockchain networks require control and governance to ensure that the network is working efficiently and transparently.

Scalability – As an established private blockchain development company in USA, we ensure that our private blockchain is customized to your business model and at the same time is scalable to accommodate the increase in transaction volumes.

To create a blockchain network and build a solution on it, a developer needs to follow the below steps with their core logic to attain success.

Step 1 – Selecting the protocol

The selection of the blockchain framework is the first and foremost step in building a private blockchain. For Ethereum-compatible network development, an EVM-based protocol needs to be chosen. One can also select Substrate for faster and safer development. Cosmos on Provenance framework is ideal for building private blockchains experiencing a scalable ecosystem. If you are unable to pick your ideal blockchain platform, you can make changes to an existing protocol. You can also reach out to our private blockchain development company in Olathe, Kansas to assist you with the protocol selection.

Step 2 – Building a core logic

After protocol selection, comes the stage of building core logic which includes modifying the current logic, making a decision regarding the consensus algorithm, setting transaction fees, and updating header info. You also need to make changes in the block height as per requirement, build pallets, decide on permission modules, and select the right storage option for your blockchain.

Step 3 – Stage of Development

This is the DevOps phase which involves several crucial steps such as hosting the test network, selecting file storage, and genesis key store creation. After completion of these steps, you need to select the total number of nodes and their geographical locations at the time of deployment. API will be integrated with seamless and free transfer of information with external sources.

Step 4 – Testing Stage

This is one of the most crucial stages of private blockchain development after the core logic has been built because testing ensures that it is functioning properly on the test network. Testing ensures that integrations are working properly, locating vulnerabilities in blockchain and resolving them, checking for connectivity problems, and looking for migration possibilities. The testing process is useful for evaluating the performance of the chain.

Step 5 – Launching the private network

When testing is completed, and security issues and connectivity issues are addressed properly, you can deploy the main network.

Step 6 – Network Integration

After deployment of the network, the final step is the integration of wallet, SDKs, block explorer, faucet, benchmarking, and monitoring tool, with the main network. This makes your private blockchain networking ready for operations.

Zero-knowledge proof is the cryptographic technology integrated with private blockchain development to keep the information during transactions sealed except for the exchange of essential values between the prover and the verifier. ZKP allows a user to prove to another user the truth of the statement by revealing the content of the statement.

By integrating the ZKP with a private blockchain, one can get the following benefits –

Simplicity – ZKPs need no technical knowledge or software expertise to operate, yet it brings powerful results with capabilities to impact our everyday lives. Although ZKPs are completely unencrypted, they are highly secure.

Security – Sharing information on a private blockchain with ZKP is tightly secured and users can share transaction information with confidence.

Time-saving – ZKPs are famous for cutting down the time needed for processing and completing blockchain transactions. While saving time, it also offers value to users.

Privacy – ZKPs safeguard every user’s privacy and never require users to share sensitive data.

If you want to integrate ZKP into your private blockchain network, our private blockchain developers in Kansas, USA are the best experts to reach out to.