If blockchain applications are to enter mainstream organizations, they must be available, scalable, and easy to use to ensure wide adoption across businesses.
To be productive and help them work faster, workers prefer simple, streamlined, and transparent processes and procedures. But, for many decision makers considering which platform to build their new application, blockchain seems to add a layer of complexity to business operations across all industry sectors. However, with careful planning and design, your staff can leverage safe and secure scalable applications that have been built on the BSV blockchain without impacting workforce productivity.
Successful enterprise applications must be carefully tailored to work for your specific business, given the complexity required to perform your critical operations. Ensuring your line-of-business application is secure and well-managed will allow your staff to focus on the specific task the application is designed for and will allow them to improve benchmark performance.
But there is a potential problem with the use of blockchain-based applications for users. When a transaction is placed in a block ready to be released on-chain, each transaction placed on the blockchain incurs a cost. And those costs for some blockchains could be prohibitive in a fast-paced business with hundreds of thousands of transactions. However, when a transaction is placed on the BSV blockchain, this cost is a fraction of a penny, but the cost still has to be incurred for the application to work.
Thus, by subtracting the cost of each transaction from the end user and placing this payment function in a different part of the application, it is paramount to be hidden from users. Day-to-day workers don’t care about the cost of storing data in the cloud, and indeed, cloud solution providers like Amazon Web Services and Microsoft Azure account for the cost of placing data on the cloud by charging users a monthly subscription to use the service. And enterprise licensing solutions support managing the monthly cost for each employee who uses the service.
Blockchain also charges its users for using its storage service. However, it charges each time a transaction is made. But ordinary workers don’t want the complexity of managing transaction costs for every action they take. Authentication should be seamless and costs should be centralized and managed by the finance department for each iteration of the application. Centralizing these costs through an abstraction layer eliminates the need for workers to get involved in day-to-day transactions so they can continue to do their jobs. In a well-written LoB application, all costs incurred can be recorded and centralized so that the finance team knows which cost center is using the blockchain application the most and which specific cost center is struggling with the process.
Cost centralization is vital for governance and management, regardless of the type or size of organization. Data on the BSV blockchain maintains its integrity by being stored on multiple copies of the blockchain stored on distributed nodes. Having an immutable and tamper-proof ledger demonstrates that the organization is complying with regulatory mandates and reporting for governance purposes.
The back-end machinations of enterprise applications are of little interest to end users who are looking for a simple way to work. They don’t care what’s going on in the background while they’re working. They want to make sure their app works whenever it needs to. They want no single point of failure and require the service to be secure and reliable.
When developing a blockchain-based business application, the planning team should consider the following:
- The development team must fully understand the solution and why they need to create this application.
- Applications should provide a seamless and frictionless user experience where possible, allowing the end user to streamline their work.
- Unnecessary steps to place the transaction on the blockchain should be eliminated.
- End users must be consulted at all stages of the design. Design should not be a UX designer’s dream, but a user’s nightmare.
- The application lifecycle should be considered and updates scheduled within a structured time frame.
Adding a layer of abstraction in the application design middleware will ensure that the end-user experience is good, that employees have an efficient product that works as needed, and that the finance department can centrally manage and capture costs. Creating layers of abstraction for the BSV blockchain means that blockchain-based applications can become ubiquitous in businesses that want to scale their operations
Watch the BSV Global Blockchain Convention Dubai 2022 Day 1 here:
Watch the BSV Global Blockchain Convention Dubai 2022 Day 2 here:
Watch the BSV Global Blockchain Convention Dubai 2022 Day 3 here:
New to Bitcoin? Discover CoinGeek bitcoin for beginners section, the ultimate resource guide to learn about bitcoin – as originally envisioned by Satoshi Nakamoto – and blockchain.
#abstraction #layer #essential #enterprise #blockchain
Trading2 weeks ago
Pharma Co. Exec’s wife signs insider trading SEC settlement – Law360
Investment5 days ago
Time Series Data Reveals Insights to Inform Investment Decisions
Blockchain1 month ago
Top 20 Cryptocurrencies to invest In 2022 before you regret
Forex1 week ago
3 Israelis arrested for links to Forex fraud, face extradition to Italy
Blockchain4 weeks ago
Catheon Gaming partners with CyberStep to launch Onigiri on the blockchain
NFT1 month ago
Sports NFTs of the week