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Author Topic: Need advice on which blockchain to use for startup  (Read 91 times)
BuALI (OP)
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September 29, 2018, 12:59:19 PM
 #1

I am working on a startup idea for a payment platform and I want the payments to be processed using blockchain technology. I have 3 reasons for this, first, I would like to stay ahead of the curve as we all know that this technology is the future where finance is concerned. Second, where I'm from blockchain technology in a startup is something very rare which could be a big plus to attract investors, and third the technology itself provides many benefits.
I'm hesitant to construct the payment platform around a new private blockchain which is more costly to create, I think using a public blockchain may be more beneficial.
Any thoughts are welcome!! thank you for your advice.
butka
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September 29, 2018, 02:46:28 PM
 #2

I don't know if I get your problem right.

If you are looking for crowdfunding, most start-ups use the Ethereum Blockchain for their projects. They issue ERC-20 tokens, ERC-20 being the standard for smart contracts. This is probably the most simple solution. All you need to do is to find a developer to create the smart contract for your future token and do the testing. After that, you are good to go. The Ethereum blockchain has competitors, of course. You may want to look into Ethereum Classic, Cardano, Tezos, LISK, Stratis, NEO, EOS, Waves, etc.

If you just want to process payments, you can use merchant solutions like Coinpayments or Bitpay to handle bitcoin payments. In this case you will accept BTC and use the BTC public blockchain.
NeuroticFish
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September 29, 2018, 05:11:46 PM
 #3

I am working on a startup idea for a payment platform and I want the payments to be processed using blockchain technology.

What kind of payments you want to process? Cryptocurrency, or fiat, or both?

I have 3 reasons for this, first, I would like to stay ahead of the curve as we all know that this technology is the future where finance is concerned. Second, where I'm from blockchain technology in a startup is something very rare which could be a big plus to attract investors, and third the technology itself provides many benefits.

Blockchain should be usable for your problem, else you'll attract some more money only until the point you cannot deliver.

I'm hesitant to construct the payment platform around a new private blockchain which is more costly to create, I think using a public blockchain may be more beneficial.
Any thoughts are welcome!! thank you for your advice.

Although I understand you don't want to give out details, without more details I don't understand how you want to use the blockchain (or the database).

A public blockchain need something to feed it. A coin that pays the miners. If you don't have that, I don't think you can have a public blockchain.
So you'll go for tokens. The previous post shows a lot of platforms where you can build your tokens. Since you may not want others buy/sell your tokens outside your app, you'll have them private, for your own use. It's OK, just keep in mind that moving around the tokens from one wallet to another (and you may need this) costs coins of the underlying platform.

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Marcel666
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September 29, 2018, 05:19:15 PM
 #4

All the current blockchain platforms are available for you to build your project on, as there is no process or license requirements.
You have to select the one most suited for your plans (as you did not elaborate).
Ethereum platform is the most popular choice, but my personal favorite is EOS.

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