Blockchain-based Product Development : Minddeft

Transform your business models - regardless of your domain of operations - by leveraging the game-changing potential of Blockchain and Blockchain-based products and applications.

If you haven’t yet explored Blockchain for your organization, it’s about time you took the route to Blockchain integration!

Blockchain integration, whether in the form of Blockchain UI, Blockchain Backend, Crypto Exchange, helps you instill trust in your users. With blockchain, you’ll establish efficiency, affordability, security, and trustworthiness.

Benefits of Blockchain-based Products

Improved and seamless money transfer - both national and international - without the need for middlemen.

Reduced costs for international money transfer as compared to the costs using legacy methods.

Reduced interest and transaction fee rates during decentralized lending, decentralized exchange, and decentralized collection of all the records on a Blockchain.

Improved loan management with more transparency, accuracy, security, and efficiency, as De-Fi connects lenders with borrowers more easily, allowing credit checks and digital assets to be transferred easily.

Minddeft for Blockchain Product Development

The experts at Minddeft follow industry-specific standards and practices to develop Blockchain products and DLT solutions. During the entire journey, our process is to provide improved security, efficiency, transparency, cost-efficiency, and speed.

For any Blockchain Product Development assignment, we broadly follow the below-listed steps as a part of its lifecycle:

Requirement Analysis

Analyzing the business idea, requirements, use cases, and the implications like security and compliance.

Conceptualization

Identifying suitable blockchain technology and on-chain and off-chain entities to define the application roadmap and architecture.

Development

Creating the application flow diagram and developing smart contracts to meet industry-specific business needs.

Deployment

Deploying the application on testing and production environment and then going live

Here’s what we provide

If you’re looking for Blockchain experts for developing products that are fully secure and trustworthy, you’re in the right place. Or, even if you’re working by yourself on your dream Blockchain project and need a little help - we’re a mail away!

Here’s what is in our services spectrum when it comes to Blockchain Product Development:

Smart Contract Development

Helps you unlock the true power of Blockchain. Smart contracts are not easily alterable and our team is backed by immense experience of creating smart contracts across industries.

Blockchain UI and Backend

Blockchain backend and Blockchain UI development allows you to focus on business-critical missions while our team of engineers and developers takes care of the development work - based on Blockchain.

Blockchain Development Consulting Service

We offer consultancy services, too, especially to young startups and entrepreneurs starting out with Blockchain and decentralized applications.

Hyperledger Development

One of the latest technologies in this domain, hyperledger supports the collaboration of different Blockchain.

Blockchain POC Development

A Proof of Concept (POC) is used to demonstrate the feasibility and practical potential of any blockchain project in any field such as Energy, Communication, Services, Insurance and Healthcare. A POC can either be a prototype without any supporting code or any MVP (Minimum Viable Product) with bare featureset. It is used for internal organization who can have a better understanding of a particular project. To create a POC, we walk with you through the core devetlopment stages that will in end create a potential solution for a project's feasibility. We keep your requirements at the focal point during the entire journey so that the entire Blockchain POC development process revolves around your targets!

Some industries that have been transformed by Blockchain

Since its inception, Blockchain has truly taken the world by a storm by enhancing operations far and wide. You can reach out to us and know how it can help your case, too, but here’s the list of all the industries Blockchain has undoubtedly overhauled

Banking

Insurance

Real Estate

Transportation

Automobile

Supply Chain

Healthcare

Education

E-commerce

Government

Blockchain-related woes? Minddeft’s your ideal partner! Here’s why

Experienced team of developers
Quick issue resolution
Customized solutions, designed to fit your needs
Full support - both during and after the project lifecycle
Prompt response to queries and concerns

FAQs

1. What is Blockchain technology?
Blockchain technology can be understood as a technology based on a publicly accessible ledger that is transparent and trustworthy. This tech allows superior security, especially when it comes to transferring the ownership of units of value using public key encryption and proof of work methods.

The Blockchain tech is not centrally connected to a bank, corporation, or the government, and uses decentralized consensus instead. The decentralization of this network increases with an increase in the size of the network, and consequently, the security increases too.

While this technology was introduced by Bitcoin, the potential that this holds extends far beyond just cryptocurrencies. It has found its way in a lot of traditional industries, including finance, NGOs, government services, e-commerce, and so much more.
2. How is this tech used in businesses?
Blockchain essentially works by eliminating the middleman. In doing so, it offers secure sharing of business processes including business activities, records and contracts between firms and partners in an encrypted manner. Since these transactions are not centralized but done in multiple locations, these are extremely difficult to tamper or alter.
3. What is BaaS?
BaaS stands for Blockchain as a Service. In today’s world, most of the technology is available as a rental. Likewise, BaaS allows organizations to rent out a Blockchain infrastructure in the cloud.

The software and hardware required to run blockchain applications are completely provisioned, managed, and hosted by the service provider. All the after sales support, maintenance, and everything else is taken care of by this provider. The Baas partner can build the blockchain network on any blockchain platform such as Ethereum, Hyperledger Fabric, Bitcoin, Corda, Quorum, or more.
4. What are Blockchain Consensus Algorithms?
Consensus Algorithm is what is responsible for verifying the transaction, balance, and signature. There are broadly two important implementations of the Consensus Algorithm -- Proof of Work and Proof of Stack.