Guide to a successful blockchain project: part 1
You have decided to develop your blockchain project with Crypton Studio. For the successful completion of the project, it is necessary to have a clear understanding of the task and precise specification of the required parameters.
Before starting the development process, it is better to conduct a preliminary evaluation and market research, as well as to calculate the tokenomics. Then you should follow the development and launch your final product. And all these milestones are made up of other smaller steps. With so much information to keep track of, it is easy to forget something important.
So we have prepared the checklist to make sure you don’t miss any of these steps. Here is the first part explaining what you should know and do during the preliminary stage.
Using our guide, you will learn how to plan the right organization of communication with the development team and business analysts, and what information about your project you should have to share with Crypton Studio before the start of development.
PRELIMINARY PHASE AND EVALUATION
Define the problem
The first step in developing your own blockchain project is identifying the problem you want to solve. This can be anything from supply chain management to online voting. You also need to define your target audience and the features they need. Why is it important? Without this understanding, you will move at random and waste time and money practicing unsustainable concepts that are not interesting to your audience and do not solve their issues.
Research
Conduct thorough research on relevant blockchain projects, use cases, and technologies to identify potential opportunities and challenges. Consider the type of blockchain technology you want to use and its crucial aspects.
Bound the scope
Clearly define the scope of your product, including key features, functionalities, and technical requirements.
Determine your budget
Determine your budget for the project and be prepared to discuss it with Crypton Studio.
Choose the type of blockchain that best suits your needs
There are three main types of blockchain: public, private, and hybrid. Public blockchains, like Bitcoin and Ethereum, are open to anyone and are highly decentralized. Private blockchains, on the other hand, are restricted to specific users or organizations and are more centralized. Hybrid blockchains combine features of both public and private blockchains.
Sign a non-disclosure agreement
Before sharing any details about your project, make sure to sign a non-disclosure agreement (NDA) with the blockchain development company. This will protect your intellectual property and ensure that your project details are kept confidential.
Prepare a list of questions
Prepare a list of questions to ask the Crypton Studio. These might include questions about their development process, experience with blockchain technology, and prices.
Be open to collaborate
Blockchain development is a complex process that requires collaboration between the development company and the customer. Be open to working with us to refine your project requirements and ensure that the final product meets your needs.
In the next part of this guide, we’ll discuss other important pre-development steps that can ensure your project’s success. These will be tokenomics and marketing research. Stay tuned!
