Solving real world enterprise problems using Blockchain

By Srimathi Harinarayanan

October 18, 2024

Summary

Incremental Delivery: When working with smart contracts, it's essential to adopt incremental delivery approaches. This means adding features by feature, rather than trying to deploy a massive contract at once.
Versioning and Upgrades: To facilitate upgrades, we must introduce versioning concepts and carefully plan how to integrate new code into the existing contract. This ensures seamless deployment without disrupting the network.
Separate Code from Data: Smart contracts should keep execution logic (code) separate from data storage. This allows for easier maintenance and updates.
Consensus Algorithm Selection: When choosing a consensus algorithm, consider the specific needs of your use case. For our example, we opted for Proof of Authority, which is well-suited for private networks with known stakeholders.
Immutable by Design: Embrace the immutability of blockchain technology, but be judicious in applying it to each use case. Not every problem requires a smart contract solution.
Business Collaboration: Collaborate closely with stakeholders to understand use cases and determine what should be stored on the ledger. Weigh the trade-offs carefully.
Prepare for Pivots: Be prepared to iterate and pivot as needed, acknowledging that complex systems often require multiple attempts to achieve success.

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