The Important Role of Design in Blockchain Products
There are a few things to keep in mind when designing for blockchain while keeping it simple.
Blockchain. Even the mere name of it brings up mental pictures of mathematics, cryptography, and nodes, the digital currency that enables smooth, quick, and safe transactions.
But how does any of this relate to design? You must first understand the underlying ideas of blockchain in order to design for it. Here, we list the four main guidelines for blockchain design.
What is Blockchain?
You must comprehend blockchain in order to design for it. The existence of cryptocurrencies like Bitcoin and Ethereum is made possible by blockchain technology.
It is fundamentally a distributed ledger where transactions are openly and chronologically recorded. Each transaction is then saved on a block of data that is difficult to tamper with after being cryptographically confirmed by network nodes.
Even though Bitcoin and Ethereum employ different forms of blockchain technology, they have several things in common. The decentralized nature of blockchain is the most striking comparison. It stores transaction information independently of any central authority.
A group of interconnected computers form the blockchain network, which receives copies of the blockchain and verifies transactions to preserve the integrity of the ledger.
As a result, there can be no single point of failure, and the system cannot be altered or controlled by a single entity.
Blockchain technology is most often used by Crypto, which is presumably how you first heard of the term. However, the technology can be used for everything from financial transactions to keeping track of medical information and more.
The name “blockchain” refers to a system where data is stored that cannot be altered.
The ability of blockchain technology to support decentralization is its other side, in addition to the fact that it makes cryptocurrencies possible.
Blockchain decentralization moves decision-making away from a centralized place or authority.
Decentralization increases an organization’s efficiency and effectiveness by getting rid of pointless components, cutting down on duplication, and preventing single points of failure. Members of decentralized networks are meant to act independently without seeking approval from the centralized grid.
Three fundamental network structures—centralized, decentralized, and disseminated—are frequently employed when considering a technology setup.
Although decentralized networks are typically used by blockchain technology, a blockchain application may or may not be decentralized. Decentralization should therefore be implemented further up the grid and at both the technological and administrative levels.
Therefore, it is crucial to keep design principles in mind when working on a product that supports decentralization.
Blockchain Design Principles to Follow
Design and development of fintech apps has been gaining ground quickly. Here are the three blockchain design tenets that you ought to abide by. We’ve limited it to just three because designing for blockchain and cryptocurrency projects is more about understanding the technology, its intended audience, and the future blockchain brings than it is about adhering to the rules.
The most important aspect of blockchain is that users must have faith in it. Blockchain must be created in a way that is clear to all users in order to gain their trust.
Therefore, one of the most crucial aspects of blockchain design is how user-friendly it is. Giving people who may not be extremely tech-savvy basic, intuitive user interfaces is one method to do this. If you are looking for an example, you can download bitcoin trading app for iPhone made by CEX.iO
Designing for Trust
Designing for the blockchain entails planning to create a service or application that can be relied upon, is unchangeable, and is (nearly) completely transparent to all users and stakeholders.
The fundamental function of blockchain is the handling of private data. Therefore, it’s crucial to keep the user’s trust when it comes to that information1.
Reliability and stability of the platform are affected in some way by that trust. To preserve user confidence in your design and product, pay attention to customer feedback and maintain consistency.
Simplicity at the Core
Make your application as simple and easy to use as possible. Blockchain creates an almost endless stream of data and information, so keeping your interface simple will make it easier for people. This also helps diminish entrance barriers to your platform. The less a user has to figure out, the easier it is to start using.
With that said, there are a few things to keep in mind when designing for blockchain while keeping it simple.
- Security –Even with 2FA, users should have no trouble entering their login information (a secure password or biometrics). More importantly, every page, file, and transaction must encourage a sense of security while maintaining the design’s simplicity and navigability.
Additionally, security shouldn’t be equated with resistance. You want a platform that makes every interaction feel safe and secure.
Privacy –Some degree of privacy is necessary for sensitive information. Users desire privacy for their identities as well as for their activities on your platform. No matter what your product does, pseudonyms and private keys are two blockchain technology cornerstones that you should incorporate.
Transparency –It takes time to complete a blockchain transaction, but we rarely know exactly how much of that time is related to network utilization. Users ought to know about their own transactions because the data is sensitive. Maintain your users informed when designing and keep transparency in mind.
For people to understand how your product functions and how it differs from those of your competitors, a transparent governance approach is also crucial.
- Consistency – Establish one design language, and use it as much as you can. It enables consumers to move through your product with ease, pinpoint their location at any given moment, and decide what steps to do next. If the user interface of your blockchain project is clear, uncluttered, and adheres to a single design language throughout, it will be more successful.