Development of solutions for business based on blockchain ​​technology

Alex Alex 13 October 2022 Follow
Development of solutions for business based on blockchain ​​technology

Blockchain is a continuous chain of blocks. The blocks are not only numbered, but also linked by the so-called hash sums, which are the result of data processing by a special function. Each chain block contains two hash sums, its own and the previous chain block.

4irelabs blockchain engineers provide professional advice on integrating blockchain technology into our client's business and blockchain development. The development team assists clients in selecting the most suitable blockchain platform and makes recommendations on the technology stack and network infrastructure to maximize the performance of their business.

Transactions in the blockchain are made according to the following scheme:

  • The participants in the transaction initiate it, the blockchain sets the encryption.

  • Blockchain validates the transaction and creates a new block for it.


  • The created block is attached to the blockchain chain.

  • Completing the transaction and updating the registry.

  • This scheme provides blockchain technology with a number of advantages over the currently most common databases.


The most important thing is the reliability of this system. Blockchain chains are, in the vast majority of cases, open source. This allows developers and users to modify it, which makes it easier to work with. At the same time, it is almost impossible to make such changes imperceptibly - for this it is necessary to control more than 50% of the computing power of the network, and it is almost impossible to achieve this.

Reducing transaction costs. Blockchain works without intermediaries and there is no need to pay for their services. In the traditional settlement scheme, the intermediary is most often a bank that charges a fee for transactions.

Acceleration of calculations. Banks and financial institutions are closed on weekends and holidays. The speed of performing duties by people is limited by physiology. As a result, a transaction conducted through an intermediary takes several days. Blockchain operates 24 hours a day, 365 days a year.

The advantages of using blockchain technology are especially obvious in networks with a low level of trust between users. In the same bitcoin system, transactions are carried out by millions of users scattered around the world and personally unknown to each other. There is no question of trust, and there is no intermediary guaranteeing the deal. If you are not sure whether you need blockchain technology, ask the developer. Traditional databases, in some cases, perform better.

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Comments (1)

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    3 months ago

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