Should I use Blockchain for my project?
If you’re wondering whether or not to use Blockchain for a business solution, the first thing to do is be clear when this technology is really needed.
IBM has put forward 5 questions that everyone should ask themselves before implementing a Blockchain-related project:
1. Is a business network involved?
Firstly, ask how many organizations will be part of the network.
2. Is Consensus required?
We need to set clear rules in order to allow us to know what is the authentic blockchain regarding other sub-chains that could appear.
3. Is Provenance required?
One of the main use cases is the traceability of a digital asset or a physical file that was digitized.
4. Does the solution need to be Immutable?
In a blockchain, the transactions are encrypted and are impossible to modify.
5. Is Finality important?
A blockchain thus acts as a single source of truth, and members in a blockchain network can view only those transactions that are relevant to them.