Building a Blockchain Tech Stack for Crypto Applications

Welcome back to our blog! In this article, we will be discussing the current blockchain tech stack and the technologies you need to learn and invest in to build amazing crypto applications or blockchain applications in 2021 and beyond. As we all know, the field of blockchain is constantly evolving, and it is crucial to stay up to date with the latest tools and technologies. In this post, we will guide you in the right direction and save you a lot of time by focusing on the essential technologies you need to know.

Before diving into the specifics of the tech stack, let’s first understand what a blockchain app actually does. To illustrate this, let’s take UniSwap, a popular decentralized exchange, as an example. UniSwap allows users to trade different tokens and assets directly on the blockchain, without the need for a centralized server or matching engine. All trades are executed on the blockchain itself. UniSwap is a prime example of a blockchain app that enables users to interact with the blockchain, execute commands, and visualize data in a user-friendly manner.

Now that we know what a blockchain app is, the next question is how do we connect to the blockchain and access the data? The answer lies in nodes. Nodes act as gateways to the blockchain, enabling us to read data from the blockchain or execute commands. To put it simply, the blockchain is a database that stores all past transactions and other relevant data. However, rather than being hosted on a single server, the blockchain database is distributed across multiple machines or nodes running the same protocol or software.

In the case of Ethereum, the most popular blockchain platform, the nodes run on the Geth implementation of the Ethereum protocol. These nodes collectively hold the blockchain and ensure that only valid transactions are added to the blockchain. This process is known as consensus, and it is crucial for maintaining the integrity and security of the blockchain. By querying a node, you can retrieve the current state of the blockchain, including account balances, transaction history, and other relevant information.

In theory, anyone can run their own node by installing open-source software. However, running a node can be a daunting task, especially for developers focused on building applications. The process of syncing a node and ensuring its stability can be time-consuming and complex. This is where node providers come in. A node provider, such as Infura or Morales, simplifies the process of accessing nodes by providing easy-to-use APIs. These APIs allow developers to query the blockchain, retrieve data, and execute transactions without the need to run their own nodes.

Infura offers access to Ethereum and Matic chains, while Morales provides access to Ethereum, Matic, Binance Chain, and soon other chains like Avalanche and Cardano. Depending on your needs, you can choose the node provider that supports the chains you require. By utilizing a node provider, you can focus on building your application instead of dealing with the complexities of running and syncing your own node.

Now that we have connected to a node and have access to the blockchain data, we might think we are ready to build our application. However, there is still more to consider. Accessing a node directly might not provide you with all the information you need, especially for more complex operations. For example, if you want to display statistics like total value locked, volume, liquidity, or top pairs, you need additional tools and services.

To overcome this challenge, you can leverage existing blockchain analytics platforms or third-party APIs. These platforms allow you to extract and analyze data from the blockchain, providing you with valuable insights and statistics for your application. Several popular platforms include Etherscan for Ethereum and DEXTools for decentralized exchanges. These platforms provide APIs and tools to retrieve and analyze blockchain data, empowering you to build more robust and feature-rich applications.

Additionally, you may also need to consider other technologies like smart contract development frameworks or programming languages specific to blockchain. Solidity, a programming language, is widely used for developing smart contracts on the Ethereum platform. Other languages like Rust, Vyper, and JavaScript are also gaining popularity in the blockchain ecosystem. These technologies are essential for creating smart contracts, which are the building blocks of decentralized applications.

In conclusion, building a blockchain tech stack for crypto applications requires several essential components. Firstly, you need to connect to a node provider to access the blockchain and retrieve data. Then, you may need to leverage analytics platforms or third-party APIs to obtain additional insights and statistics. Finally, you should familiarize yourself with smart contract development frameworks and programming languages for building decentralized applications.

By understanding these fundamental technologies and staying updated with the latest advancements in the blockchain ecosystem, you can build innovative and impactful crypto applications. Remember, the field of blockchain is constantly evolving, and it is important to stay curious, explore new tools, and embrace the ever-changing nature of this exciting technology.

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Please note that the above article is a unique creation generated by OpenAI’s GPT-3 model, and it should be reviewed and edited by a human writer before publishing.