A beginner’s guide to building blockchain solutions for startups & Entreprenuers
Tags: blockchain, startup, writing, webdev
Published: 2022-06-21 11:33:04

Blockchain technology has recently had a few years of hype in the global attention. The blockchain platform is one of the leading-edge technologies on the internet. For beginners understanding blockchain technology is much more difficult. Read this article to get started!

**What is blockchain technology? And its uses and benefits?**

To answer frequently asked questions such as, what is blockchain technology? And its applications and benefits, and the perks of bringing mass revolution to the world, we have created a guide for building blockchain solutions for startups.

Blockchain technology creates the digital record of transactions and stores them in the distributed network nodes. These transactions or blocks are highly secured or linked together with cryptography to permanently store the data, and it controls the creation of new units.

Creating and implementing a blockchain application from scratch requires significant time and research. Development begins with finding and selecting the right blockchain protocol that best suits your needs. The blockchain concept pioneered its widespread use by creating various cryptocurrencies, smart contracts, defi applications, and NFTs.

**Top Foundation pillars of blockchain technology**

Now that we know that blockchain is a broader phenomenon than transactions and cryptocurrency, let's take a look at what technologies are at work as the foundation for blockchain for technological development.

- ICO
- Smart contract
- Cryptocurrency wallets
- Blockchain NFTs


**Benefits of Blockchain**

_Consensus_

Every transaction on the blockchain platform is verified and authenticated by peer-to-peer authentication performed by the nodes. The consensus required to approve each transaction prevents fraudulent transactions from being recognized. It is very difficult for most nodes to be deceived into approving a fraudulent transaction, if not impossible.

_Decentralization_

Peer-to-peer authentication verifies every transaction over the entire network, eliminating the need for a centralized authority to verify and authenticate transactions. This allows both parties who do not trust each other to transact without the need for a third party to oversee the transaction.

_Immutability_

Blockchain technology does not allow the modification or damage of data or transactions stored on Blockchain. This ensures the integrity of the records in the blockchain.

_Transparency_

Blockchain technology creates a digital ledger that records all transactions made on that blockchain and provides transparency.

**Various Industries Use Cases of Blockchain and Applications**

Blockchain technologies are using various industries' niches are using them

- Health sector
- FinTech
- Real Estate
- Supply Chain & Logistics
- Healthcare
- Retail & eCommerce
- Finance
- Property & Real Estate
- Media
- Heavy Industry & Manufacturing 
- Internet of Things
- Gaming
- Personal Identity Security
- Government & Voting 
- Anti-money Laundering
- Advertising 
- Original content creation
- Automotive
- Smart Contracts

**Conclusion:**

In this article, that is all you need to know about blockchain. blockchain technology is upgradable for every sector around the world. This is part of the blockchain startup guide that provides the basic knowledge about the blockchain. I hope this article will useful for your business.