LimeChain offers all kinds of full stack public blockchain development. We have experience with layer 2 solutions, along with innovations and services such as monoplasma, bonding curves, smart wallets, and more. Our portfolio further includes third-party integrations, such as KYC and payment providers.
Public Blockchain Explained
A public blockchain is a distributed virtual ledger that operates on the basis of a peer-to-peer network and is accessible for anyone to view, read, or write data on it. It is also known as a permissionless blockchain since no permission is required to access it or participate in it. Public blockchains are one of the three main types of blockchains. Due to their decentralized, distributed nature, public blockchains are controlled by all of their participants, rather than having a centralized point of power or decision-making.
Once a transaction has been recorded on the ledger, it is immutable and cannot be reverted. In other words, public blockchains are “append-only”. For a transaction to occur, though, it must be approved by majority of the nodes in the blockchain.
To execute the purpose for which they have been created, public blockchains make use of automated smart contracts. These are self-executing contracts that trigger processes and operations once specific conditions are met.
Beyond their use for cryptocurrency exchange, for which they are known, public blockchains have effectively been used in various other areas. These include the public sector, supply chain management, quality assurance, accounting, voting, stock exchange, energy supply, and more.
Interested in how public blockchain development can work for your business? Here are some of its benefits:
Benefits of Public Blockchain Development
for Your Business
Whether you’re looking to store information on simple cryptocurrency balances or find a unique solution to storing valuable property ownership, medical record, reservation, or other data, public blockchain development can offer a robust solution with the following advantages:
Due to the distributed nature of blockchain, validation of transactions occurs through the consensus of all nodes. This means that you do not need any independent third-parties to establish trust, nor do you need to review and evaluate any type of documentation.
All of this lowers the costs associated with hiring legal consultants and other such parties that establish trust or verify authenticity.
There is no way to trick or change the ledger once a transaction occurs and is validated by the network. This means that there are full transparency and traceability of all transactions or processes. It also eliminates the need for trust between parties since it is guaranteed by the nature of the technology itself.
Public blockchains are highly secure as record-keeping systems.
To change a record on a blockchain, one would need to change all subsequent records. But since the ledger is distributed throughout all nodes, rather than on a single server, this would need to happen everywhere at once. This means that once a transaction is recorded, it is impossible to change.
Blockchain-enabled business processes are faster and more reliable than traditional ways of verification of transactions. Instead, thanks to smart contract development, you can pre-set conditions on the blockchain. Once conditions are met, smart contracts are triggered and self-execute and conduct transactions, without the need for oversight or approval.
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The Public Blockchain Development Process
LimeChain is a blockchain-agnostic development company. This means that we choose the technology that fits the project best in terms of efficiency, feasibility, and scalability.
When working on public blockchain development projects, we implement an agile development methodology, working in sprints to build and ship products faster, better, and stay flexible as we go.
Our approach and the tools we use allow us to deliver projects that meet the highest standards for the development of enterprise blockchain platforms
We offer the following services related to the development of a public blockchain:
• End-to-end product / MVP development
• Smart contract development
• dApp development
• Wallet development and integrations
• Decentralized autonomous organizations (DAO) and Continuous organization development (COD)
• Tokenization of assets
• Token offerings
To build our blockchain-based business solutions, we use the following public blockchain protocols:
• Hedera Hashgraph
Public Blockchain Development
LimeChain has worked on over 70 blockchain-related projects since 2017. Our approach is blockchain-agnostic and we have completed projects across all major protocols.
We also have experience with layer 2 solutions, along with innovations and services such as monoplasma, bonding curves, smart wallets, and more. Our portfolio further includes third-party integrations, such as KYC and payment providers. If needed, we can also provide you with legal support in the implementation of your blockchain project.
We have also developed our own development frameworks and tools which include:
• Etherlime (funded by ETH Community Fund)
• EOSlime (funded by EOS VC and Block.one)
• Polkadot tool (funded by the Web3 Foundation)
• Aeternity tool (funded by the Aeternity Foundation)
Do you want to develop a public blockchain for your business? Get in touch with us so we can discuss your needs and requirements and see how we can help you with your project!