20 questions to ask yourself before using Blockchain in your project | by Daniel Diaz | Web3 Magazine | Aug, 2022

It’s well-known that the Blockchain brings nice worth to many use circumstances. Nevertheless, on the subject of selecting which type of storage to make use of, we should always not get carried away by the hype generated by this know-how. Comply with me via this submit by which I analyze a collection of points to consider.

NOTE: The method will probably be guided by pictures, in addition to some issues.

A few of these questions could offer you clues as as to whether Blockchain is an efficient match on your challenge:

Do you want constant shared storage?
Do you want a tamper-proof registry?
Are there belief points along with your resolution?
(…)

If after this primary filter, you continue to assume it’s good to use blockchain, it’s as much as you to determine: public community or non-public community?

Should you plan to retailer private information or different delicate data (firm secrets and techniques, invoices…), discard this feature! Even utilizing cryptography, the data could be distributed via unknown nodes all around the world, which might result in data leaks and litigation. Due to their restricted nature and smaller dimension, non-public networks could also be a safer possibility.

Equally, discard a public community in the event you want excessive throughput charges (excessive transaction quantity and low latency). It must also be stated that networks reminiscent of Ethereum (“the merge is approaching”) promise to enhance these charges considerably. Likewise, non-public networks current higher efficiency metrics.

Should you additionally have to replace or delete information, don’t use a public community!

Maybe a non-public community could be a greater possibility…

Even on this case, delicate data should be handled rigorously. Think about using cryptography or different mechanisms reminiscent of Hyperledger Material Private Data Collections.

Alternatively, though some non-public networks permit updates and deletions, these are solely fictitious. A duplicate of the previous state will stay within the earlier blocks. You should be extraordinarily cautious with this side due to authorized obligations reminiscent of the proper to be forgotten in some nations.

What number of organizations take part in your community? In case your reply is one and you aren’t in an auditing use case, it’s possible you’ll rethink utilizing a non-public blockchain.

Have you ever been sincere? Nicely, you continue to have to guage many different questions (shock!):

Technical questions: what number of nodes are there, and the way distributed are they? Are they sufficient to withstand 51% assaults?
Financial and monetary questions: is the challenge viable, does it add worth, does the market want it?
Environmental questions: how is the environmental impression of the blockchain resolution adopted? Is it in keeping with Company Social Accountability and the corporate’s values?

Lastly, do not forget that good contracts are packages whose guidelines should be very nicely outlined. Does your challenge match? Good, now you “solely” should implement it and take it to manufacturing, with an exhaustive technique of testing and safety examinations.

Good luck!