ben brown

November 18, 2022

Business

6 Programming Languages to use for Developing Blockchain Apps

ben brown

November 18, 2022

Business

Blockchain technology has taken industries by storm. Among many features, its ability to streamline and automate processes while enhancing the performance of operations has made this technology highly sought after. Anytime new technology makes a buzz like this, companies want to make it more accessible to their users.

If you consider technology nowadays, you’ll see that there’s no better way to increase accessibility to a product than by having a high-quality application.

Even though Blockchain technology has the upper hand in competitive markets, many companies underestimate some programming languages or are simply unsure which to use when integrating them into their applications. For this reason, we will go over the various languages commonly used when developing these applications.

Why do you need a programming language?

Software development requires the right tech stack. In the case of tech stacks for Blockchain solutions, companies will find a wide variety of options that all serve different purposes. This means we’ll need to identify which is right for your application.

Here are some of the top 6 solutions:

1. Python:

This is an obvious choice for its simplicity alone. Although Python is still considered new in the Blockchain space, it’s commonly used for networks like Steem, NEO, Ethereum, and QTUM among others.

Many developers choose Python for its ability to quickly materialize new ideas in a prototype. Additionally, its resources include frameworks, plugins, and libraries as well as external ones. Note that everything here is open-source, meaning that if an issue should arise while developing the Blockchain application, it can be quickly and easily resolved.

2. C++:

In the world of programming, this is a go-to for general-purpose programming simply because of how diverse it can be for building software, especially solutions for Blockchain. Bitcoin, Ripple, Litecoin, and many more are all written using C++.

Among the many draws to C++, one of the biggest reasons for its popularity is that the solution is object-oriented (OOP) and makes low-level functions accessible. This means that the development process is much faster and simpler. Additionally, it's highly compatible, allowing it to easily be used in low-level coding. Programmers know that this is a huge advantage when it comes to scalability and the speed of a product.

3. Java:

This is one of the biggest competitors for C++ due to its popularity and how comprehensive it is during software development. Blockchain solutions such as IOTA, NEO, and Ethereum were created using Java.

What makes Blockchain developers happy with this language are three things in particular: portability, OOP, and API. These contributors are what make applications that are well-structured, high performing, and that can easily operate on almost any device or platform. Another big draw to Java is its highly secured interface. Security threats are mitigated through the systems that manage security such as byte-code verifier checks and Java Virtual Machine.

4. Golang:

Commonly referred to as GO, this language is great for building Blockchain solutions quickly and painlessly. Software developers building apps with GO can make multi-threaded platforms where computing resources can be used efficiently which is paramount for operating Blockchain solutions.

Another reason developers would use Golang is that it's a statically-typed and compiled language. When it comes to Golang apps, this is going to protect them from errors with the runtime as well as make sure that the development process is efficient.

Among the other draws to Golang, one of its biggest advantages for programmers is that it compiles itself in machine code instead of using virtual machines. Performance-wise, Golang will operate similarly to C++. It will use various other programming practices from different languages which is why the code is easier to write.

5. Simplicity:

A programming language specifically for developing Blockchain, Simplicity was originally made to replace Bitcoin’s script and Ethereum's EVM and is also used to create smart contracts.

When it comes to the creation of Smart Contracts for Bitcoin and Ethereum, Simplicity is meant to mitigate complexity and create solutions full of features that can be relied on. Additionally, its compatibility with Blockstream’s Element platform allows it to support various open-source software.

6. Rust:

Recently, this has been one of the top choices for blockchain developers, primarily for its low friction and secure features. On top of this, it’s a relatively easy language to learn.

Developers who are sufficient with Rust are in high demand specifically for the crypto industry. Among the many draws to the language, when it comes to blockchain applications, the ability to prevent memory bugs while compiling is critical.

What’s next?

While many industries are finding ways to implement blockchain technology, those already using it are finding ways to enhance it. Whichever stage you and your business are at, make sure you’re using experienced developers who won’t waste your investment. Technology is moving forward and it’s not waiting for hesitating businesses confined to outdated methods.

Written By Ben Brown

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ISU Corp is an award-winning software development company, with over 17 years of experience in multiple industries, providing cost-effective custom software development, technology management, and IT outsourcing.

Our unique owners’ mindset reduces development costs and fast-tracks timelines. We help craft the specifications of your project based on your company's needs, to produce the best ROI. Find out why startups, all the way to fortune 500 companies like General Electric, Heinz, and many others have trusted us with their projects. Contact us here.

ben brown

November 14, 2022

Business

How Software Developers Can Capitalize With Remote Work

ben brown

November 14, 2022

Business

Researchers have found that 98% of surveyed employees this year prefer to work remotely a minimum of two days per week. More than half wanted three days from home, and just around 40% of executives said they wanted to return to full in-person working conditions. It doesn’t take an expert to see that there is some level of disconnection here.

The reality of working conditions today is that there is no getting rid of remote/hybrid working. The shift has become so important to employees that some work it into their contract, and talented workers can easily be snatched by companies willing to offer this simple perk.

Software development companies know that talented individuals are an asset needed to build teams that succeed in this market. In the best interest of finding and retaining these individuals, we need to outline how this dynamic can work for companies who are unsure of remote work or struggling to fit it into their organization.

It seems like a common fear among executives is that unsupervised employees may not be productive or as productive as they could be in an office. Fortunately, studies have been done over the timeline that remote work has been around and proved that employees are more productive when working remotely.

It’s been found that when employees are in their own space, they’re willing to put in more hours of work. This is likely because their minds are free to tend to work and life-related situations. However, it must be acknowledged that everyone is different, and what’s working for one person isn’t always ideal for another.

The Process of Change For Companies

The pandemic was a surprise for the world and while some businesses were certainly hit harder than others, everyone felt the impact. Nonetheless, people still need to work which is where the remote model shined. Some managed the transition better than others who in some cases couldn’t make it work for them.

The point of this argument is that most people were overwhelmed and frightened by the uncertainty of that time. A lot of companies as well weren’t prepared to make the switch but some did. The successful ones overcame the virtual shift by going back to the drawing board and designing new processes to bridge the gap.

In 2021 alone, Zoom made $4 Billion in revenue, and Google Teams, Microsoft Azure, and Skype were all resources being used by companies to make the most of the situation. So it’s not that there was no infrastructure to support this lifestyle for companies. This example speaks to the forever-standing knowledge of how important being able to pivot is.

How Software Development Teams Make it Work

Software development and engineering is never a solo effort. It requires collaboration, openness, and flexibility. Look at agile for example; software development teams were able to effectively handle projects and empower teams as well as customers. The emphasis here is on flexibility and openness which in every software development project is intrinsic to its success.

Whether you’re a software development company or working on a software project, you’re likely encountering some form of remote collaboration. Of course, this is fine as it is becoming the new norm for many outsourcing companies, but communication cannot be overwritten. This is sometimes difficult in software, especially if you are working with offshore teams in different time zones. Typically, this is why going with local talent is your best bet, however, every project is different and so is what people think is best for their business. For your project that is fostering some form of remote work, these should be the non-negotiables:

Outline communication standards (how many touch points per day and who to reach for urgent matters)
A clear goal for the project
Mutual agreement for the timeline and budget

On the flip side, if you’re trying to make remote work beneficial for your internal team, you should follow these minimum standards:

Effectively delegate responsibilities
Stay updated as much as possible with the progress of tasks among team members
Ensure the necessary resources are available to everyone
Identify weekly goals

You’ll notice that most of these points are similar to how a business should function even without remote work. That’s because day-to-day remote working isn’t that much different from regular in-person standards when it comes down to the basics. Of course, there may be situations where the team or client needs to be met with in person, and for those instances, it should happen exactly that way.

What to Remember

Software development and engineering require a team effort. Teams are highly effective in environments that are fueled with transparency and flexibility. Now, just like anything, this is going to require boundaries. If inadequate results are a factor, then take measures to ensure that the goals of the company are being fulfilled. It ultimately comes down to communication; it’s the only medicine proven to produce results.

Written By Ben Brown

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ben brown

November 11, 2022

Business

How AI and ML Can Help the Banking Industry

ben brown

November 11, 2022

Business

Artificial intelligence (AI) is how banks work smarter in today’s digitally driven market. In addition to the security benefits that prevent fraud and breaches, the operational assistance features of AI speak for themselves. These include lower operating costs, managing risk, automating workflows, and personalizing the end-users banking experience.

Automation and personalization are what suggest the viability of a product or service to consumers in this day and age. Trends for 2023 present AI as a considerable contributor to the advancement of the digital banking sector, specifically for its ability to provide valuable options/advice and protect users' information.

Banks are a perfect example to look at when considering AI's impact in the present and future. For example, the Royal Bank of Canada (RBC) uses AI for several processes, including data analytics, the construction and implementation of applications powered by AI, and features that analyze financial forecasts.

The common thread among these features is that they contribute to delivering an enhanced experience to customers fast and efficiently. An Insider study from this year found that 75% of banks (holding over $100bn worth of assets) are strategizing with AI and ML. They also found that this adoption rate sat at around 45% for banks holding less than $100bn in assets.

So what makes Artificial Intelligence so great?

When it comes to running a business, knowing your customer as best as you possibly can is everything. The traditional importance of human intelligence and the ability to build rapport with the people you interact with day-to-day is just as relevant in the digital world. Advising is a service that has been and forever will be sought after, which has made it consistently lucrative.

The actual functioning that makes AI beneficial to the financial industry stems from its ability to manage data. Take the example of advisors at your local bank. If you go there looking for investment advice, AI-generated algorithms will help them find shares, funds, or bonds that suit your specifications and goals.

Now, the liability that comes with managing people's finances is among the highest importance. Last year alone, companies saw a 53% increase in cyberattacks. This presents immense levels of concern for financial institutions, wealth management firms, and especially newly established neobanks who need to generate credibility around their product to succeed. The demand for state-of-the-art security has made financial institutions gravitate towards AI and ML technology.

Here are three of the key features backing this movement:

Fraud detection and compliance regulation: History has shown that the financial industry is not foreign to losing millions of investors' dollars. In the United States, efforts like the Sarbanes–Oxley Act of 2002 were meant to mitigate the impact of breaches and prevent them altogether by enforcing heavy penalties.

For this reason, financial institutions have found it in their best interest to automate compliance using a Decision Management System (DMS). For fraud to be prevented, it needs early detection and consistent auditing. A Decision Management System makes this possible through its software and machine learning capabilities.

Lower risks and operating costs: Having a representative provide a personal touch at your institution is great. However, mistakes slip by people, which can incur seriously negative repercussions in the banking sector. This is where and why institutions will turn to AI-powered DMS.

When it comes to something like onboarding, for example, DMS will make the process easier and lower the risk of missing something and causing an error. In turn, this will reduce the costs of labour and allow institutions to reallocate their resources from data entry to business development.

Better accuracy when evaluating investments: Institutions are constantly on the hunt for fruitful investment opportunities. This has made investment software a highly sought-after resource for its ability to provide suggestions that take into account how much risk the investor is willing to take.

The software can easily and accurately evaluate funding proposals from clients, which is especially useful when you consider how difficult and complex understanding industry-specific information is. Investment analysis software takes all the necessary variables into account to make this possible for the end user.

The key takeaway from this list is that AI and ML present new methods of data collection that deliver a far more efficient mode of managing funds and customer service. In turn, this will save institutions time and money while showing their clientele that they’re prepared to operate long-term.

Process automation is a pillar of business development and service delivery in 2022. There is no doubt that this trend will only become more prevalent in the coming years. Right now, nearly 70% of companies use Business Process Automation (BPA) software.

Three Easy-to-Grasp Changes:

AI provides a platform where fraudulent/suspicious activity can be identified quickly and prevented thoroughly.
Financial institutions can better invest their funds and resources. In effect, customer apprehension will be mitigated which can grow the institution's consumer base.
The experience of banking for customers becomes far more enjoyable through the flexibility and accessibility provided by AI.

What’s Next?

Businesses are always on the lookout for new ways to improve their services. Speed, quality, and solutions that suggest longevity are the minimum standard for a financial institution in today's market. Your efforts are going to require the right software that will set you up for success and keep your customers that depend on you.

Written By Ben Brown

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