What is blockchain development

What is blockchain development?

Blockchain development is a sought-after skill in the tech industry. There is great potential for blockchain technology in the area of services and entrepreneurship. Utility-oriented aspects of blockchain in particular make it a valuable technology for innovation.

Unfortunately, for the vast majority of blockchains, these aspects are overshadowed by other aspects that fall under the buzzword 'crypto'. Nevertheless, blockchain development is a rapidly growing field, offering newcomers a lot of opportunities.

Different aspects of blockchain development

Blockchain development can be broken down into two categories. On the one hand, there is blockchain software development, which focuses on building applications, software and services, that utilise certain properties of the blockchain to solve certain pain points in an industry e.g. through microtransactions, on-chain data storage or peer-to-peer communication.

On the other hand, there is the so-called crypto development, which focuses on blockchain architecture, token economics, smart contract development, and cryptography, which is important for complex services. Of course, both categories are closely related and have overlapping areas.

The BSV Academy offers training and education for both aspects in two different course streams - the Software Engineering stream and the Software Development stream.

Blockchain software engineering

The blockchain engineering course stream, Software Engineering, is focused on understanding the functions of Bitcoin's highly scalable network and leveraging its high-speed always-on interface to design next-generation systems and services.

The stream consists of five courses, including:

Blockchain software development

The course stream, Software Development, is focused on understanding the complexities of developing applications using Bitcoin SV, a blockchain based on the original Bitcoin protocol. The stream consists of four courses, including Bitcoin Theory, Bitcoin Development, Bitcoin Basics: Protocol and Design, and Bitcoin Primitives: Digital Signatures.

What a blockchain is and what it is suited for

Blockchain technology is essentially a distributed ledger that records transactions between two parties securely and transparently. It provides a tamper-proof record of transactions, making it an ideal tool for tracking and verifying data. Blockchain development involves designing and building blockchain-based applications that can interact with the blockchain network.

The Bitcoin SV blockchain is unique regarding its on-chain scalability, which allows for micro- and nano-transactions at a fraction of a cent, massive on-chain data storage and true peer-to-peer data transfers and communication.

This allows for a wide range of innovative business solutions, which you could learn more about at the course stream of the Bitcoin SV Academy that focuses on business applications of the blockchain.

Why the Bitcoin SV blockchain is best suited for blockchain development

Similar to the Internet, which offers more and more added value and usefulness by allowing everything and everyone to connect to it, this is also the case with blockchains. Therefore, the most valuable blockchain is the one that can leverage the most transactions at the cheapest cost allowing for true peer-to-peer communication and unlimited on-chain scalability.

So far, there is no better solution to leverage the full potential of a peer-to-peer electronic cash system than what Dr Craig S. Wright, aka Satoshi Nakamoto, outlined in his white paper. Thus, the Bitcoin SV blockchain is the most suited to become a universally accepted infrastructure for all purposes that benefit from utilising a blockchain.

Legal aspects of blockchain development for businesses

Of course, legal aspects also play an important role when it comes to choosing the right blockchain. In many blockchains, developers choose to handle transactions off-chain. Often their blockchains fail to scale and thus are forced to find make-shift solutions that contradict their promise of being decentralised and scalable.

But another central aspect of the so-called ‘crypto’ adherents is that transactions must be hidden from any - in their opinion - illegitimate external entities, including all state institutions. Unfortunately, crypto-assets have therefore also become an established payment medium in many illegal transactions.

A crypto-asset that disguises transactions cannot be regulated and is incompatible with the law. Therefore, such approaches are in no way suitable for legal business applications and services.

It is also important for businesses and regulating authorities to understand how blockchain works. This is the focus of the course stream: Law, which you can find here.

Learn more with the BSV Academy

The BSV Academy is an institution that constantly imparts new knowledge and expands its courses. To keep up to date with new content, register with the BSV Academy or start one of our courses right away.

Micha Sprick, Editor
Micha Sprick