The fact of blockchain tech emerging made the number of bitcoin holders adding to the millionaire list has increased recently, including Changpeng Zhao, who owns $65 billion. The sources cited from d by BitInfoCharts indicate that 23 active wallets hold more than a billion dollars in Bitcoin. Rewinding to 2011, we never imagined that a single Bitcoin value of $1 could be worth 20,040.90 USD as of today. Considering the current situation, blockchain technology became a gaming changer for businesses. Businesses use Blockchains to record transactions and track assets between each other as a shared, immutable ledger. With its high level of security, blockchain transactions are transparent and data-stamped, paperless, and automated with smart technology that helps verify the transaction effectively and quickly. However, the question is, how do we find the right blockchain service provider and what type of services do they offer?
What does a Blockchain Service Provider Do?
Managing the accounts of a business manually can be a complex task, especially in this digital age, especially with so many transactions that can get into the wrong hands such as hackers. Therefore, choosing a blockchain tech provider is much better since it takes care of setting up, managing, and maintaining all the infrastructure and hardware components including nodes. Additionally, the provider ensures that the business customer’s infrastructure is agile, operational, secure, and up-to-date using their expertise and resources.
How to Choose the Right Blockchain Service Provider?
Level of Privacy:
Security is a concerning thing for any business that is dealing with the structure of data with inherent security qualities digitally. So, make sure, the blockchain service provider is featured with a multi-layered approach with ISO certification. Although BaaS automates backend development and manages cloud infrastructure, it sometimes allows for more access and mishandling of data. As a result, the provider should install robust security or identity and access management (IAM) software on the platform.
Dependability:
As we know, a blockchain network is decentralized and carries multiple transactions 24/7, so establishing a user-experience network is a prime task for any blockchain infrastructure provider. They need to ensure a high level of uptime and performance with a low possibility of system failures.
Ease of integration
A quality provider should allow you to access all aspects from using multiple databases, administering tools, scheduling a meeting, and other tasks at a time without any hassle or difficulty.
Support
A blockchain service provider must guide its client with end-to-end service from providing “How to” guide blogs on each product to having their back if something goes wrong.
Cost
Always, compare the price model with its quality since implementing blockchain tech into your business is quite pricey.
Scalability
Keep in mind the provider permits the option to scale services up or down, enabling excellent flexibility and cost-effectiveness. Because change is a must in an uncertain business environment that could help in creating a new customer base.
How does CBNITS blockchain technology help you?
1. Smart Contracts Development And Audit
Blockchain technology, on which smart contracts are based, helps individuals and smart contract professional developers to perform transactions, transfer data, and exchange tangible goods without the involvement of banks or other third parties. A smart contract’s terms cannot be altered by anyone. Participants can therefore believe in every piece of information that occurs on the blockchain.
2. Distributed Application (Dapps)
DApps build a cutting-edge, secure, and robust open-source software ecosystem on top of a blockchain-based peer-to-peer network that functions as a form of the operating system. Furthermore, it enables programmers to design new web tools, many of which have caught the attention of international corporate marketplaces. Resources will be shared among many devices around the world using DApps.
3. Blockchain Technology Consulting
A blockchain consultant’s job description is that Blockchain technology should be researched, designed, developed, and tested. Applying new tools and technology should be evaluated. the upkeep and expansion of the current client- and server-side business logic and integration applications.
4. Public And Private Blockchains Development
In contrast to private blockchains, which are centralized authorities that govern the ledger, public blockchains are decentralized peer-to-peer networks, hence the primary distinction between the two is the level of access that users are granted. Public blockchains are permissionless networks that are available to everyone, allowing anybody to join the network.
5. Hyperledger Development
To aid in the creation of distributed ledgers based on blockchains, Hyperledger was developed as an open-source initiative. The frameworks, protocols, tools, and libraries required to develop blockchains and related applications are being created through the Hyperledger collaborative effort.
6. Supply Chain Development
Blockchain possibly reduces communication or data transfer errors by giving all participants in a certain supply chain privy to the same content. Reduced time can be devoted to data validation and more time can be devoted to distributing facilities raising quality, lowering cost, or doing both.
7. Ethereum Development
Ethereum is a decentralized blockchain-based platform that creates a mentoring platform for safely executing and validating smart contract application code. Participants can do business with one another using smart contracts without the need for a reliable central authority.
8. Crypto Asset Exchange Development
However, it’s important to keep in mind that cryptocurrency exchange is different from a regular or corporate website. Creating a cryptocurrency exchange is a fantastic business startup. On this trading platform, you can trade, sell, and buy digital assets. Exchanges for cryptocurrencies allow users to trade them for other assets, such as fiat money and digital money. Exchanges for cryptocurrencies essentially function as a middleman between buyers and sellers, earning revenue from commissions and transaction costs.
9. Cryptocurrencies, Wallets And Exchanges
The ability to store, manage, and trade cryptocurrencies are provided by a blockchain wallet, which is a digital wallet. Additionally, a unique wallet service offered by the business Blockchain is known by the term “Blockchain Wallet.” People can store and send cryptocurrency with this E-wallet.
10. Distributed E-Commerce Solutions
As a digital ledger of online transactions, blockchain technology stores the transaction data on encrypted databases that are dispersed over numerous computer networks. The development of a decentralized online marketplace using this technology is possible in the e-commerce sector.
Conclusion:
Using our blockchain solutions in your day-to-day business eliminates the risk of data getting misled and unproductive performance. Whereby your organization gets to adopt high-tech in order to conduct business successfully, allowing them to manage the data carefully, paperless, and transparently. You can contact CBNITS on business@cbnits.com to get quick response on any query related to Blockchain service and all other kinds of IT services.
