Ethereum Development

What is Ethereum?

Ethereum was first proposed in 2013 by a white Russian-Canadian programmer Vitalik Buterin. Ethereum development is based on blockchain technology, one of the 20 most popular technologies, for the next 10 years.

Ethereum is an open source public blockchain run by Ethereum Foundation. It provides a decentralized platform for applications that aim to operate without third-party interference. In other words, the best way to describe Ethereum would be that it is an open source environment in which anyone can request, publish or trade anything and is said to be able to replace internet 3.0 (i.e. the current web we know of with Google).

The creation of this new environment was not without hurdles- its concepts were indeed unprecedented and might appear a little too distant as well as unrealistic at first look which made it hard for people to understand what it really is. Notably, there are four core components of Ethereum: smart contracts, ether currency, dapps and blockchain technology.

Why you should build a Ethereum product?

Ethereum can provide business with a different type of global reach through its decentralized bookkeeping system. It offers not only the ability to accept credit cards, bank transfers and other traditional currency forms but also has no need for fiduciary vigilance and archaic corporate are banks.

Ethereum allows users to make sure that once a transaction occurs, it will always stay as such. Now, imagine how this could help you run your business in the most secure way possible- with no margin for error. Furthermore, Ethereum has more than 224 potential use cases that it could help out with. Out of all those, whether your product idea is related to finance, real estate or supply chain management- Ethereum can probably be applied in uniqueness ways across all industries.

Ethereum is often considered to be the global computing network which controls itself through blockchain technology. The current frameworks help in making a seamless channel for all kinds of operations on the Ethereum ecosystem. All rules are etched in stone and are impregnable with attack vectors completely eliminated. Banks, governments, wealth management firms and remittance companies among others use the unique attributes of the network to execute trusts-less operations 24x7x365 on zero cash flow or dependence on systems or intermediaries forming a perfect living organism that frees users from costly overheads and provides security without any pitfalls.

Full Report

Ethereum Development Steps

Empathizing

  • Defining and understanding the participants and roles in the product being created – in the development process and in the target solution
  • Defining and understanding the end user

Problem definition

  • Defining the problem that exists in the market for a given user profile
  • Frame your problem statement according to specific users

Ideation

  • User story mapping. Defining the Product Backlog (scope of work) with the help of User Stories describing the processes
  • Sketches (low fidelity) presenting the user flow in the application
  • Definition of processes interacting with other modules

Building prototypes

  • High fidelity wireframes visualizing the graphical interface
  • Extending mockups with a clickable prototype
  • Database structure. Database model describing table and field structure

UI/UX Product Design

The key is to select the most important problems whose solution will significantly change the life of the target user. Thanks to such an approach, already at the stage of Discovery and Design, it will be possible to build a successful product on the market much faster. It is always worth asking yourself the question “what value does the feature give to our user? Is it worth the investment?”

Our Blockchain Software Development Services

Trading/Market Place Platforms

Automated trading solutions are designed for brokers, traders, asset managers, and various financial institutions as well as any other customer who trades on a regular basis.

These platforms are fully automated with no human intervention required whatsoever. They analyze information for all stocks available on public exchanges and then automatically trade based on their analysis.

The main advantage of these programs is that they do not require high-speed connections to work effectively. They can be used just about anywhere in the world with an internet connection.

Internet of Things with Blockchain

The Internet of Things (IoT) is rapidly evolving and has expanded into various industries, including the financial industry. Artificial intelligence-enabled devices are one of the most common ways to connect to the IoT.

The Internet of Things (IoT) is a network of physical devices, vehicles, home appliances and other items embedded with electronics, software, sensors, actuators, and network connectivity that enables these objects to collect and exchange data. IoT solutions are becoming increasingly popular in the FinTech industry for various reasons.

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    List of tools that we use for Ethereum Development

    Technologies we use