The problem with building a blockchain related project from scratch

The problem with building a blockchain related project from scratch


Crypto APIs Team

May 17, 2019 • 4 min

Have you ever tried to build a blockchain based product from scratch? Even if you have developed an application with a kickass UI and UX design, you’re not even half the way there. Launching a product on the blockchain or integrating it with blockchain technology takes a whole new level of skill, time, and resources. 

We take a look at the barriers to entry for start-ups and established businesses entering the market, and the solution.

The Challenges in Starting from Scratch

A blockchain product will have all the same starting headaches as centralized applications, such as the issue of setting up servers. Whether they are hosted in the cloud or located locally, the support cost is huge. Obtaining constant high-availability CDN, the security risks of the IoT and the huge labor-intensive task of maintaining BIG DATA.

But due to the specialist technology, blockchain has its own set of unique challenges.

Running and Maintaining Blockchain Nodes

In order to communicate with the blockchain, an application needs access to blockchain nodes. These nodes are like the server which stores, validates and maintains the distributed ledger. The problem is that each blockchain has its own network of nodes, each with its own set of protocols. 

Running nodes is an expensive, and a technology- and labor-intensive operation. You need specialist equipment with particular specs, which need regular maintenance. Syncing can take weeks, if not longer. 

Nodes have to run 24/7, so there are bandwidth limits and energy costs to factor in. And remember, each blockchain has its own network of nodes, so to talk to more than one network, you need more than one node. 

READ MORE: Blockchain Nodes Explained

Skills Gap 

Blockchain technology is still relatively new and it is constantly evolving. Blockchain developers are few and far between, and then add expensive into the mix. These blockchain experts need to have the knowledge to be able to instantly react to soft and hard forks or any other changes made to the blockchain network. 

Finding and being able to afford your own team of skilled and experienced blockchain developers is a huge issue especially for start-ups with limited resources. 

Blockchain Infrastructure Development Time

Your product needs a backend design, an infrastructure that will connect it to the blockchain. Even if a company does have its own in-house team of developers, designing infrastructure from scratch takes a considerable amount of time, money, and effort.  

All of which will slow down a product’s time to market. In a fast-paced market, start-ups and SMEs can’t afford to be late to the table. 

Multiple and Complicated Data Sources

A major issue for developers is the sheer volume of data sources. The blockchain ecosystem boasts thousands of crypto and digital assets with more being added almost daily. 

They are traded 24/7 across multiple decentralized exchanges globally and with no unified standardization. Every crypto exchange also has a different API which can change frequently. All of which makes gathering and keeping track of crypto data a nightmare.   

READ MORE: The Challenge of Accessing Blockchain Data for DeFi

What is the Solution?

Crypto APIs is a blockchain infrastructure provider that simplifies all of the above. Using Crypto APIs’ product suite and powerful unified endpoints, any business can launch their product on the blockchain in a matter of days instead of weeks or months. 

The product suite includes:

Wallet as a Service

Blockchain Events

- Node as a Service

Blockchain Data

Blockchain Automations

Market Data

Blockchain Tools

Through a simplified integration we have built a best-in-class solution.

Crypto APIs give businesses reliable access to fully-synced nodes for top protocols and networks. Our services work with multiple blockchains, with 25ms processing speed and 99.9% uptime. With access to powerful developer tools in your preferred language from our SDK library and enhanced APIs, you can easily send your dApp traffic to the blockchain via us.  

With Crypto APIs you get powerful and robust endpoints for the top networks including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP) and many more. Plus, we are constantly adding networks as new chains emerge. 

We also provide valuable live data from 12 of the top crypto exchanges by market cap. 

Simplify Access to Blockchain with Crypto APIs

Crypto APIs products and advanced integrations unify the way developers interact with blockchain technology. The all-in-one platform delivers multiple and major benefits for startups and established businesses:

- 100+TB Big Data storage

- Locally hosted nodes

- Quantum secure MPC wallet infrastructure

- 9 SDK libraries

- 100+ Unified API endpoints

- 30+ networks supported

- 25ms average processing time

Crypto APIs is your one stop solution to drive your business innovation, acceleration, and help you reduce time, cost, and risk. Is your product ready for blockchain infrastructure? Check out our Getting Started guides.

Related articles