Blockchain platform that will give your business an edge

Aug 24, 2020

The blockchain development company in India can provide the blockchain platform that could help you in protecting your confidential data. Moreover, as the name suggests, blockchain is a series of digital blocks holding information about online transactions in real-time. This innovative technology can successfully drive your business since it works on a decentralized system which helps in dispersing any regulatory power from any governing body. The best part is, the amount of data passing through the blocks in the network gets updated to all its participants present in the network in a consistent manner.
Some of the top blockchain companies in India can provide the aspiring businesses with the required framework and the network which is needed to keep track of the business transactions in a secured manner. The blockchain platforms are quite efficient as it allows the stakeholders to directly interact with the consumers and dissipate the involvement of the third parties or the intermediaries. The blockchain platform helps businesses prevent any kind of fraud which may lead to modification or mislead any confidential information.

Should you opt for blockchain?
The top blockchain development company in India suggests opting for the blockchain technology as it can help business entities or individuals save themselves from the breaches and thefts of personal information. Moreover, to move on with business in the current market we do need to carry a lot of identification information like computer passwords, identity cards, smart keys, social security ID, etc. here the blockchain platform is best used for creating encrypted digital identities in a more secure manner.
You can even audit your business transactions because the blockchain platform helps in managing each transaction taking place in the network which is recorded indefinitely and in a sequential manner. Moreover, you get hold of a lasting audit trail in terms of your business management as the technology work on Peer to Peer or P2P network. Using the blockchain platform you can easily audit every transaction which is quite necessary in terms of verifying the authenticity of the information.

What are the benefits of using blockchain platforms?
Some of the best blockchain development companies in India suggest that there are several benefits of using a blockchain platform for your business.

• The blockchain platforms help in managing the business databases by putting in the important information into one place. Moreover, it also helps in keeping track of the transactional information in a well-structured manner.
• By being very transparent the blockchain network is more audible and provides an accountability factor. This way every individual present in the network can be held responsible is anything is not working the way it should.
• This platform protects you from any kind of fraudulence activities and makes it impossible for anyone to misuse any information.

What are the different types of blockchain platform?
According to a blockchain services company in India there are particularly three major types of blockchain platforms –

• The public network - It is basically a decentralized network that is open to all and everyone can participate in it. This network includes running full blockchain nodes, trading coins or tokens, mining cryptocurrencies, and many more. However, it can be expensive and slower in speed but it is the most preferred and best-used blockchain platform.

• The permission network - Generally, this type of blockchain network is visible to the participants but they work in a more controlled manner. In comparison to the public network, it is fast and has a huge storage capacity as well.

• The privatized network - In comparison to the public and the permission network, it is mainly shared between the trusted parties only but is also open to the public as well. It has zero latency and is quite fast at the same time. However, many private networks are built to use cryptocurrencies and also do not offer the immutability advantage like the decentralized ones.

What are the top blockchain development frameworks?
The blockchain app development services in India are designed with some of the best development frameworks such as

• Ethereum - It is developed to dominate the blockchain domain and is among the top chosen platforms particularly useful for designing decentralized applications.

• EOS - It is basically a smart contract which is a blockchain technology-enabled platform used to deploy different types of decentralized applications. Moreover, it is a public network suitable to be used by everyone simply by creating EOS accounts.

• Hyperledger - Basically it is open-source permission enabled blockchain framework which is best used for the creation of high-performing DLTs for cross-industry collaborations. Moreover, it is one of the most popular because of having six frameworks and several tools for helping business enterprises.

Why should you choose ITSpectrum?
ITSpectrum provides the best blockchain development services in India by being user-centered and create different mobility solutions. With several years of experience, ITSpectrum is recognized as a market leader globally with a strong market presence and best client experience. We follow the best product development cycle by ensuring effective communication with all our clients.
We are a blockchain service providing organization providing the blockchain technology all around the world. ITSPectrum has proven expertise which has earned the global recognition as a competent Blockchain Development Company. Our only motive is to earn global recognition by rendering quality products and services and earn customer satisfaction in return.