Decentralized applications development on Ethereum blockchain
The Blockchain technology
Blockchain seems to be the driving technology behind the next generation of the Internet, also referred to as the Decentralized Web, or Web 3.0.
Decentralized applications (the so-called DApps) are mobile or web applications – with a decentralized protocol as a backend – which interact with smart contracts.
A smart contract is defined as a computerized transaction protocol that executes the terms of a contract. Thus, smart contracts are digital as well as self-executable in nature, meaning that when certain conditions in the code of these contracts are met, they are automatically deployed. The result of the contract execution is stored on a blockchain, immutable and visible to anyone.
Ethereum, the open-source blockchain platform, has introduced the smart contracts in the Blockchain ecosystem.
Decentralized applications are more stable, more flexible, and safer. The main benefits of adopting DApps and decentralized protocol as a backend are:
- Trustless technologies
DApps are designed to run natively on a decentralized network with trustless protocols – or a blockchain. Since DApps use contract code as their back-end logic, the entire service can be inspected and verified by anyone, which helps find and expose vulnerabilities, especially backdoors.
This makes DApps more resilient, autonomous, stable, and secure than traditional applications. Decentralization solves multiple problems traditional apps face, such as censorship or centralized control. Furthermore, DApps are immune to any single point of failure. Since none of the nodes are instructing the other nodes, decentralized applications will not theoretically need any sort of downtime.
- Absence of user credentials
With blockchain, there is no need to create, store and manage new user access information. Consumers can use their existing accounts with a public/private key, practically impossible to hack, and totally controlled by the user (like logging by using MetaMask address).
- Built-in payment system
With blockchain payments, there is no need to integrate DApps with payment gateways since DApps mainly employ cryptocurrencies as the built-in medium of exchange.
CWBI DApps services
CWBI offers custom services for varied business needs:
- Design and development of decentralized applications (DApps) on Ethereum, based on decentralized solutions (blockchain and smart contracts);
- Creation of hybrid marketplaces and exchanges, with online order books (open buy and sell orders) and atomic swaps (exchange of funds – coins and/or tokens) on Ethereum blockchain using smart contracts, with the possible use of advanced protocols such as 0x Protocol and Wyvern Protocol;
- Decentralized storage integration via IPFS (InterPlanetary File System) and Ethereum’s Swarm;
- Consulting on the design of fungible and non-fungible smart contract tokens, based on ERC20, ERC721 and subsequent developments.
For developing applications on Ethereum we use tools, components, frameworks, and platforms such as:
- OpenZeppelin – open framework of reusable and secure smart contracts in the Solidity language;
- Solidity – Ethereum smart contracting language;
- Remix – Web IDE with built-in static analysis, test blockchain VM;
- Truffle – smart contract development, testing, and deployment framework;
- Ganache – app for test Ethereum blockchain with visual UI and logs;
- MetaMask – Chrome extension wallet to interact with DApps.
For more information, get in touch with us in the Contacts section.