- August 5, 2022
- Posted by: DxMinds
- Category: Blockchain Development
Blockchain is the newest buzzword, with nearly all fintech professionals and enthusiasts discussing its worldwide potential. It was created in 2008 by Satoshi Nakamoto, a mysterious internet user, before going live in 2009. Several attempts to identify Satoshi have been made without success. In particular, breakthroughs in blockchain and distributed ledger technologies (DLTs) have compelled the technology far beyond disillusionment through the hype cycle. They are driving productivity improvements in major industries such as finance and trade. Primarily, blockchain and DLTs are altering the nature of conducting business across organizational borders, allowing enterprises to reinvent how they create and manage a range of tangible and digital assets.
While there are several blockchains, each blockchain protocol has its characteristics and capabilities. Amid the surge in blockchain demand, hybrid blockchains have increased as enterprises seek the optimum mix of blockchain technologies. In the case of banking and trade, it is clear that such businesses require a hybrid solution that allows them to reap the benefits of both public and private blockchain networks. These advantages include: enhancing access to a large number of adopters and securing sensitive data.
Hybrid blockchains, which combine the characteristics of public and private blockchains, promise game-changing benefits, particularly in the global commerce and financial industries. The networks are very efficient and interoperable, allowing for the creation of highly scaled decentralized apps (DApps) and blockchain-powered platforms.
The XDC Network uses the XDC delegated proof of stake (XDPoS) blockchain technology, which aligns with the trend toward hybrid blockchain networks. The protocol encourages decentralization in a variety of businesses. The XDC network, with its highly interoperable smart contracts, rapid block finality, low energy usage, and low network congestion, provides an ideal environment for DApp development.
What is XDC Blockchain?
The XinFin XDC Network is an enterprise-ready, open-source hybrid blockchain for global commerce and finance. All EVM-compatible smart contracts, protocols, and atomic cross-chain token transfers are supported by XDC Network, which implies that everything that works on Ethereum will also run on XDC Network. The enterprise-grade XinFin Network is ISO 20022 financial communications standard compliant and can enable various unique blockchain use cases.
The XDC Network provides numerous significant advantages to its customers, including cheaper transaction costs, lower energy usage, faster confirmation time, double validation, and randomization for security assurances.
What is dApp?
The advantages of dApps include the protection of user privacy, the absence of censorship, and development freedom. The possible inability to grow, problems establishing a user interface, and difficulties making code adjustments are all disadvantages.
Why build dApp on the XDC blockchain?
The XDC Network is a developing blockchain platform built on the idea of its predecessor, Ethereum, for a decentralized, blockchain-powered ecosystem with code-enforceable smart contracts. The XDC Network is entirely Ethereum Virtual Machine (EVM) compatible, positioning it to attract a massive community of Ethereum developers and encouraging various dApps established on the Ethereum Network to transition to XDC. XDC Network is a platform for mainstream utility and recognizes that potential through its unique technology by providing the following benefits:
- No downtime
Once you’ve deployed the smart contract at the heart of your XDC-based dApp, the network may service customers that want to interact with the contract.
You do not need to disclose real-world identification to launch or engage with a dApp on the XDC Network. Your XDC account is your login, and you only need a wallet to obtain access.
- Censorship resistance
No organization inside the XDC Network may prevent users from submitting transactions, building dApps, or accessing data from the XDC blockchain.
- Complete data integrity
Data saved on the XDC blockchain is irreversible and irrefutable due to the network’s cryptographic primitives. As a result, bad actors cannot falsify transactions or publicly available data.
- Verifiable behavior
Smart contracts on the network may be examined and assured to execute in predictable ways without requiring faith in a central authority. This differs from previous arrangements in which we must rely on a central authority to safeguard crucial information. An excellent example is the internet banking system, in which we must trust that financial companies will not abuse or tamper with our financial information. In certain circumstances, they are hacked by malevolent parties.
- Multiple APIs
The XDC network features ten different types of APIs that developers may use to construct dApps on the network.
How to build a dApp on the XDC blockchain?
To create a dApp, you must first select a blockchain protocol. You can choose a private, public, or hybrid ecosystem based on your requirements, such as the XDC Network.
Depending on the microservices the dApp aims to provide, both on-chain and off-chain data must be acquired onto the blockchain from numerous sources, including external sources.
Processing of data
Once the data has been collected on the blockchain, it is time to analyze it and construct an interface that allows users to engage with the dApp while still trusting the data. Following that, the structure of the dApp is prioritized.
The front-end development of a decentralized application is focused on creating a user-friendly interface. This involves optimizing web pages and app aesthetic components, correcting problems, and increasing the overall user experience. The following is the technological stack you will need to construct a dApp on the XDC ecosystem:
The backend of any dApp focuses primarily on smart contract development, as well as the following components-
- User identification: User identification involves several fundamental issues, such as whether the identity should be centralized or decentralized. This is a critical aspect in determining the success of the user interface.
- Roles and Authorization: To limit user movements, establish where authorization can be kept, and guarantee that roles are appropriately handled, authorization and roles must be examined.
- Notifications: Notifications give out information regarding actions occurring on and off the chain. They have an off-chain nature.
- Logic in Business: Business logic governs how business logic data is presented to the public. This entails deciding whether the data will be accessible off-chain or on-chain.
- Storage: You have two options for data storage: store it in the cloud or enable the blockchain to save it. Depending on the demands of the dApp, you may select which storage solution to use.
Smart contracts govern and define the blockchain’s operation. They also control how Oracles interface with external data sources and APIs.
Variations in dApps are increasing as more people see the possibilities of decentralized technology. The timely release of tools and continuous improvements to their functionality will maintain the XDC Network’s momentum as a hybrid, EVM-compatible (Ethereum Virtual Machine) blockchain. Creating and maintaining XDC dApps may be difficult, requiring concentrated work, skilled supervision, and meticulous process execution. As a result, collaborating with an XDC development team to assist you design and managing your XDC dApp without problems is always beneficial.