How To Choose A Blockchain To Fork In Blockchain Development

To start your own crypto by using blockchain to fork, you need to understand the essentials to keep in mind. As a blockchain development company, we can help to explore the best platforms that can be used to build and customize your crypto integration.

5 main essentials to choose the best option for blockchain development:

Consensus model
Smart contracts
Masternodes
PTS
DAO

Each case of blockchain app development services can be used considering the features of your project. How to find out which network fits the best and what are the requirements for your needs? Let’s look closer at each one of main 5 aspects.

1. CONSENSUS MODEL

There are 2 types of consensus in all blockchains, that were described above by our blockchain dev team:

PoW—Bitcoin, and Dash
PoS—PIVX, Qtum, and Avalanche

How to choose Consensus, which is a primary thing in planning on making a fork?

Our blockchain company has explored both to analyze the difference you need to know.

Basically, PoS is faster and cheaper. PoS uses very little energy to secure a blockchain and without vast energy consumption, it is almost impossible to identify and stop participating validators on a PoS. Though, you can align consensus with your unique requirements by investing your time in cryptocurrency development to change the consensus algorithm in the Parity node to PoA or PoS as an example.

2. SMART CONTRACTS

Ethereum and Qtum fork is often used by developers as the best option to run smart contracts. As a cryptocurrency development company, we can guarantee, you will get the most reliable and verified solution.

Using an Avalanche example, we can see the possibility of integration and EVM forks, which also shows the conversion to other programming languages.

3. MASTERNODES

Masternodes not only store a full copy of the blockchain, but they also provide specialized functions to all members of the network. So our blockchain dev team recommends you not to forget about this useful feature, which can enhance protocol security and help to attract network members with guaranteed incomes.

You can set masternodes according to the client’s needs during the process of creating your fork. Also, it’s possible to change all features, such as fee prices for example.

In Dash and PIVX, there’s a masternode – that’s equipped more heavily than full nodes. Alongside the operations run by full nodes, masternodes can facilitate special events on the blockchain. For example, Dash and PIVX masternodes govern voting events and execute anonymous operations and other protocol-specific operations. And since the code for Dash and PIVX is open-source, you’re free to add any feature: communication protocols, network operations, payment and fee structures, consensus protocols, etc. Usually blockchain companies use masternodes when the ordinary servers can’t handle transactions.

4. PTS

Dash’s PrivateSend service is another thing that our blockchain development services company wants you to remind about.

The current implementation of the system allows increasing of the anonymity of transactions by combining multiple inputs from different users into one transaction with multiple outputs. This obscures the flow of funds and also limits the ability to directly track transactions.

In your blockchain application development, you can choose different services, such as PIVX SwiftX and Quorum Tessera instead of PrivateSend with similar features.

5. DAO

A decentralized autonomous organization (DAO) is used by top crypto companies for the protocol governing. DAOs are fully autonomous and transparent. As they are built on open-source blockchains, anyone can view their code, at the same time it’s high cost and can take time to integrate it in already existing system.

Otherwise, the better decision can be using PIVX and Dash with inbuilt features to have a governing layer.

CONCLUSION

These are the most well-known examples for starting your own cryptocurrency development, which our blockchain solutions company has analyzed. We can help you to find your best solution for your projects. Anyway, you can fork any open-sourced blockchain code and actually add custom features by yourself.

Keep in mind that you are not limited to the above mentioned ledgers and can take any blockchain code to fork: EOS, Polkadot or others.

When you’re ready to develop new crypto or to run your own blockchain, you can keep in memory the top-5 essentials from our experts at CryptoMind.

Our blockchain development team is confident that this review will help you to boost the way to leveling up your current business via blockchain solutions.