Since mid-2018, DeFi’s popularity has steadily increased among tech enthusiasts that today the total value of DeFi locked is over $77 billion. It brings a new age of DEFI – if you want to build the best defi app ever, this article is for you!
1. Plan your DeFi App Type
If you want to build the best Defi app ever, the first step is to decide what type of DeFi application you want for your user market. Decentralized finance is a huge field. DeFi applications are contributing to it in various ways from assisting with borrowing and lending of digital assets, trading assets, mining cryptocurrency, getting insurance, and more.
2. Build a Blockchain App Development Team
Blockchain is a growing technology. You will require a software development team with special roles as employed below:
- A business analyst
- UX/UI Designer
- Web or mobile app developers with blockchain development experience
- Application tester/quality assurance engineer
- A project manager
3. Decide on your DeFi Application Blockchain infrastructure and other requirements
After you have finished all the tasks above, it’s time to decide on your web or mobile application infrastructure and other blockchain-specific application development requirements.
Mobile or web infrastructure including backend servers is one of the most important decisions, as well as data storage services, networking and security technology are serious matters, too. Today, businesses prefer to invest in cloud infrastructure developed and maintained by cloud service providers.
This allows your best DEFI app developers to focus on business development and application development. Amazon Web Services, Microsoft Azure, etc. are popular cloud service providers today.
They help businesses start developing and testing software applications right out of the box at a small scale using the latest tools and technologies, and scale their applications as required.
In manifesting blockchain specific requirements, you will have to decide on the blockchain network your application will run on. Ethereum has been a popular blockchain network for DeFi and DApps in general for quite some time.
However, more people participating in a blockchain network also means network congestion, resulting in slower transactions and more costs.
4. Select an App Development Methodology
At the right time that you are starting DeFi application development, choose an application development methodology that your entire blockchain project team will follow.
The software development industry mainly uses agile development methodology, especially for web and mobile application development projects, given their nature today. Today’s applications largely depend on real-time user data and follow a user-first design approach.
User preferences are very changeable when it comes to technology products. Businesses must stay up to date when it comes to app features and user requirements. Software developers ensure this through regular code revisions and feature updates.
5. Design a User-Friendly App Interface
Most of the users of your DeFi application will be unfamiliar with the concept of decentralized finance and blockchain technology in general. There are new terms to understand and rules to follow. You don’t want to add a difficult application interface on top of it.
Interact with experienced UX/UI developers to develop user-friendly, easy-to-use and visually appealing application interfaces. Intuitive app interfaces are a great source for building your business identity and retaining app users.
Use tools like Adobe, Sketch, etc. to select UI elements, their placement, design application layouts through dynamic prototypes, etc.
6. Build DeFi App
SmartOSC is considered the first choice of blockchain developers to develop and deploy smart contracts. It is an object-oriented programming language. Its syntax is similar to C++ and Python and provides programming concepts like functions, variables, loops, etc. like other modern programming languages.
Want to build an DEFI app – Let’s SmartOSC experts help you!
Contact us if you have any queries about Blockchain development services, dApps development, NFT marketplace development, Crypto wallet development, Smart contracts development.