{"id":3702,"date":"2019-11-26T20:02:33","date_gmt":"2019-11-26T20:02:33","guid":{"rendered":"https:\/\/atozcrypto.org\/?p=3702"},"modified":"2019-12-05T00:39:08","modified_gmt":"2019-12-05T00:39:08","slug":"top-5-avoidable-mistakes-in-blockchain-implementation","status":"publish","type":"post","link":"https:\/\/atozcrypto.org\/top-5-avoidable-mistakes-in-blockchain-implementation\/","title":{"rendered":"Top 5 Avoidable Mistakes in Blockchain Implementation"},"content":{"rendered":"\n<p>In the last year, there were more then\n85,000 blockchain projects started in the blockchain project ecosystem.\nUnfortunately, only eight percent of the projects are actively maintained. Even\nwith the excitement surrounding blockchain technology, many blockchain project\ndevelopers repeat the same mistakes when they try to implement their blockchain\nprojects. If you want to launch a blockchain project this year successfully,\nthen you&#8217;ll want to avoid making these common mistakes.<\/p>\n\n\n\n<p><strong>Providing\nthe Wrong Statement of Project During Token Introduction<\/strong><\/p>\n\n\n\n<p>Blockchain operates with data through the\nprocessing of tokens. A significant number of blockchain-based projects require\ntokens to be introduced, which is usually followed by an initial coin offering\nto obtain investments and gain capital for further development. Unfortunately,\nthe following mistakes at this stage can lead to future problems.<\/p>\n\n\n\n<ul><li>Not specifying a mission,\nsetting goals, or clarifying the meaning of the project. <\/li><li>Implementing a low level of\nproduct development<\/li><li>Having an insufficient resource\ninvestment<\/li><li>Lacking patience<\/li><li>Fear of making mistakes<\/li><li>A poor level of security<\/li><\/ul>\n\n\n\n<p><strong>Wrong\nDecision on Blockchain Type and Consensus<\/strong><\/p>\n\n\n\n<p>Consensus with different sizes of blocks, configurations of nodes, and sequences of node competition are leading to new customers or private blockchains being created. Each has limitations of processing times, scalability, and support of smart contracts and security. A significant share of these projects introduces tokens with the Ethereum platform and later struggle to further the project with the creation of a solution. More projects are abandoned when they can\u2019t find a solution. <\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/atozcrypto.org\/wp-content\/uploads\/2019\/11\/1-copy-1024x1024.jpg\" alt=\"\" class=\"wp-image-3704\" width=\"475\" height=\"475\" srcset=\"https:\/\/atozcrypto.org\/wp-content\/uploads\/2019\/11\/1-copy-1024x1024.jpg 1024w, https:\/\/atozcrypto.org\/wp-content\/uploads\/2019\/11\/1-copy-150x150.jpg 150w, https:\/\/atozcrypto.org\/wp-content\/uploads\/2019\/11\/1-copy-300x300.jpg 300w, https:\/\/atozcrypto.org\/wp-content\/uploads\/2019\/11\/1-copy-768x768.jpg 768w, https:\/\/atozcrypto.org\/wp-content\/uploads\/2019\/11\/1-copy-850x850.jpg 850w, https:\/\/atozcrypto.org\/wp-content\/uploads\/2019\/11\/1-copy.jpg 1080w\" sizes=\"(max-width: 475px) 100vw, 475px\" \/><\/figure><\/div>\n\n\n\n<p><strong>Wrong\nBusiness Model<\/strong><\/p>\n\n\n\n<p>Some of the blockchain projects that fail\ntry to recreate an existing centralized business model with blockchain\ntechnology underneath. The blockchain is a robust technology that needs a\ncomplete redesign of the business model. During the implementation process,\nteams are trying to invent blockchain under business models without changing\nthem, which makes blockchain effectively useless. <\/p>\n\n\n\n<p><strong>Profitability\nvs. Cryptocurrency Return<\/strong><\/p>\n\n\n\n<p>There are two significant issues with\nprofitability and cryptocurrency return. The first being that it is more\nprofitable to gain cryptocurrency during an initial coin offering then to wait\nfor an increase in prices. Secondly, due to the high volatility of\ncryptocurrencies, some projects end up suffering from a lack of financial\nresources because of the wrong financial management during implementation.<\/p>\n\n\n\n<p><strong>Wrong\nMarket Estimations<\/strong><\/p>\n\n\n\n<p>Due to custom-blockchain immutability after\ndeployment and smart contracts, some projects mis-estimate their token\neconomics and types of incentives for users. Wrong predictions will lead to a\nsignificant drop in the economic value of the token and failure of the project.\n<\/p>\n\n\n\n<p>It is essential that you pay attention and avoid these common mistakes if you want to run your blockchain project successfully.<\/p>\n\n\n\n<p>By<a href=\"https:\/\/byatek.com\/\"> BYATEK.COM<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the last year, there were more then 85,000 blockchain projects started in the blockchain project ecosystem. Unfortunately, only eight percent of the projects are actively maintained. Even with the excitement surrounding blockchain technology, many blockchain project developers repeat the same mistakes when they try to implement their blockchain projects. If you want to launch &hellip;<\/p>\n","protected":false},"author":1,"featured_media":3703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pgc_meta":"","_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[17],"tags":[],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Top 5 Avoidable Mistakes in Blockchain Implementation - AtoZcrypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/atozcrypto.org\/top-5-avoidable-mistakes-in-blockchain-implementation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 5 Avoidable Mistakes in Blockchain Implementation - AtoZcrypto\" \/>\n<meta property=\"og:description\" content=\"In the last year, there were more then 85,000 blockchain projects started in the blockchain project ecosystem. 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