Blockchain Protocol Development
Blockchain protocols, also known as enterprise blockchain protocols, govern different parts of blockchain technology. In the blockchain, protocols maintain the decentralized approach, eliminating the central authority nature by spreading in the entire network.
he disruptive blockchain technology is transforming the way businesses operate. With decentralization at its core, blockchain is enabling better transparency, security, speed, and efficiency in processes.
Almost every industry – including finance, real estate, healthcare, entertainment, art, and more – is ripe for blockchain adoption. Start-ups, enterprises, and decision-makers are harnessing the potential of blockchain to simplify and optimize their operations while reducing the overall cost. According to International Data Corporation, worldwide spending on blockchain solutions is expected to reach $12.4 billion in 2022.
Blockchain Protocol Development
At 19loops Solutions, we offer end-to-end blockchain protocol development solutions to help start-ups and enterprises navigate their journey towards blockchain. Our diligently crafted solutions, deep domain knowledge, and rich experience together expedite the journey while enabling our clients to take the lead.
If you are a start-up or a small or medium-sized enterprise looking for blockchain protocol development solutions, we can successfully cater to your needs. Whether you want to venture into the Defib space, NFT space, or any other domain, we align our solutions with your requirements to achieve meaningful outcomes.
Consensus Algorithm: Achieve Better Decision-Making
When it comes to transactions, blockchain records them on a distributed ledger. It is of paramount importance that every node maintains an identical copy of the database. Failing to do so can lead to conflicting information.
A consensus algorithm is a mechanism that allows users or machines to coordinate in a distributed setting. It helps ensure a single source of truth.
At 19loops , we leverage different consensus algorithms to build high-performance blockchain products.
Proof of Work (Pow)
It involves validators (also referred to as miners) competing to solve a puzzle using their computers’ processing power. The first miner to solve the problem is rewarded for their work
Proof of Stake (Pops)
The PoS algorithm does not have validators competing as the block creator is chosen by an algorithm based on users’ stakes. As the creator solves the puzzle, he/she receives a transaction fee
Proof of Authority (P0A)
It provides a small and dedicated number of blockchain actors the power to validate transactions or interactions with the network to update its more or less distributed registry.
Delayed Proof of Work (DPOW)
It is a modified version of the Proof of Work consensus algorithm that allows one blockchain to take advantage of the security provided through the hashing power of a secondary blockchain
Leased Proof of Stake (LPOS)
It is an enhanced type of Proof of Stake consensus algorithm that is used by the Waves blockchain network to achieve the distributed consensus to secure the network.
Delegated Proof of Stake (DPOS)
DFi Protocols Development
Decentralized finance (DeFi) protocols have witnessed a staggering growth over the last two years. As of today, the total value locked in DeFi is $66.35 billion. DeFi protocols potentially address the pain points in the traditional finance industry – such as centralized control, delayed transactions, inaccessibility, and more.
At 19loops , we offer mission-driven solutions for DEFi protocols development, helping start-ups and enterprises to launch their DEFi platforms and tap into the billion-dollar market
One of the popular DEFi lending protocols, Aave is an open-source and non-custodial protocol to earn interest on deposits and borrow assets.
It comprises a string of DeFi-focused protocols that leverage multiple lending services, including Compound, Dydx, and Fulcrum to optimize lending options.
A decentralized platform designed for tokenized margin trading and lending. It enables users to lend assets for interest or enter into short/leveraged positions.
A decentralized exchange built on Ethereum’s smart contract protocol that facilitates trading and swapping of ERC-20 tokens directly from the Ethereum wallet.
A decentralized exchange built on a blockchain compatible with Bitcoin and Ethereum. It allows traders to engage in transactions involving currencies other than ERC-20 tokens.
Compound is an open-source, autonomous protocol built for developers. It enables algorithmic, efficient money markets on the Ethereum blockchain.
Synthetix is a crypto exchange built on Ethereum. It allows users to participate in margin trading in a completely decentralized manner.
Notional is an on-chain Ethereum protocol that enables users to lend and borrow at fixed rates and predefined maturities. If you want to build a DeFi platform akin to these, we can expedite and simplify your development journey.
NFT Protocol Development
Non-fungible tokens, popularly known as NFTs, are digital representations of assets that are unique, and thus, non-interchangeable in the real world. The year 2020 laid down a solid foundation for NFTs, and 2021 witnessed them gaining mainstream adoption, owing to major partnerships from sectors including digital art and sports.
Various start-ups and enterprises across industries are tapping into the NFT market to capitalize on its potential. At 19loops, we offer NFT protocol development solutions to help businesses take their idea into execution.
NBA Top Shot
Sorare is a global fantasy soccer game that allows users to buy, sell, and manage a virtual soccer team with digital player cards that are non-fungible tokens based on the ERC-721 standard
Decentral land is an Ethereum-based decentralized virtual world that enables users to utilize customized avatars, trade collectibles, and participate in the virtual world’s governance process.
Hashmarks offers digital art collectibles created by more than 70 artists from across the globe. The platform lists a total of 16,384 digital portraits with unique characteristics like eye color, skin color, mask, and items.
Ethereum Name Services
Why choose us for Blockchain Protocol Development
By partnering with 19loops , you can rely on a team of technical experts with real-world experience creating success stories.
Our work does not end with the product launch. We provide extensive post-delivery services so that you can focus on your growth.
We deliver customized products suited to your target audience. A coherent roadmap ensures smooth and accelerated development and deployment.