Considerations to recall when selecting a blockchain for project success.

Selecting the right blockchain ecosystem is a decision that can impact the success of your project. Thus, before making a choice, it’s important to evaluate factors such as:

• Scalability.
• Security.
• Protocols.
• Bridging.
• Consensus mechanism, e.g. PoW/PoS.

For example, in NFT projects, you need to consider criteria like cost, smart contracts, transactional speed, and adoption rate in addition to the ones mentioned above. Keeping in mind that many artists tend to prioritize their audience, community, and collectors’ preference.

Furthermore, the code base, quality of the documentation, availability of tutorials/guides/tools, and the strength of the community play a big role when choosing a blockchain platform to develop with.

For instance, Ethereum can be difficult to understand at first, as you need to learn about how it works, smart contracts, Solidity language, calculating fees, new tools, and more. But there’s lots of information available facilitating learning and experimentation.

Types of protocols

• Pubic → open-source.
• Private → have higher efficiency in terms of scaling and compliance but are more susceptible to network manipulation.
• Hybrid → combine public and private protocols.

Knowing what app or project you want to create and its requirements can help you choose the best protocol for it.

• Metaverses need strong interoperability between different digital spaces.
• To support the buying and selling of NFTs, marketplaces require compatibility with smart contracts, storage facilities, record-keeping, fraud prevention, and validation.
• DeFi lending apps need a fast blockchain protocol for real-time transactions, while a DeFi staking app may not need a such immediate recording of transactions.
• When building decentralized storage systems, it’s important to save space and time to reduce costs.

At last, analyzing the market and strategizing is also key to choosing the blockchain that best meets your goals, and even though it can be challenging to pick one that fits all your project needs, you are not alone in this quest.

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