John Cvetko, TFxCloud
One of the most talked-about and misunderstood topics in recent times, blockchain technology is completely overhauling the way digital transactions are conducted and could eventually change the way several industries conduct their daily business.
In the early days of blockchain technology, many blockchain companies focused solely on (bitcoin) payment processing and exchange trading. As the wider scale of blockchain technology started to become more apparent, new blockchain companies started to emerge with use cases in industries other than just crypto-currency. For example, blockchain can also be used to secure and facilitate things such as smart contracts, e-payments, microtransactions, legal services, supply chains and more.
Blockchain enables contracts and transaction records that are permanent, tamper-resistant, secure, and efficient via a decentralized platform via smart contract, removing the need for a middleman broker (prone to occasional mistakes, and inconsistent processing times) to physically oversee every transparent action in real-time while still preventing fraud. Verifying and validating the implementation of blockchain offers several challenges due to the inherent structure of the technology as well as the distributed nature of the system.
A primary factor that influences the required level of verification and validation is dependent on whether the implementation is on a public platform like Etherum or Openchain or customized platform that is purpose-built for the needs of the organization. The latter needs more setup and effort in testing. In this paper, we will discuss the testing challenges of this emerging technology.
Key takeaways include:
- Understanding new technology
- Blockchain Understanding its impact and potential
- Understanding its application in specific business sectors Challenges with testing