When building one Blockchain For a platform-centric corporate network, it is very important to define and build a network with operational efficiency for sustainability. In our previous postWe discussed how important trust is for building these networks and what key role blockchain plays in enabling trust and transparency for all participants. We also outlined the four dimensions that are critical to building effective business networks.
Be successful, Companies Platforms need to focus on all four dimensions – business, operations, law, and technology (BOLT) – from the early stages of development. We want to take this opportunity to look at it Operations Dimension in detail.
Inside the building Blockchain In platform-centric corporate networks, usability plays a key role in the success of running blockchain corporate networks. Most of the time, user reflection on the network is based on its functionality. Therefore, it is of the utmost importance to define and build operational efficiency from the start.
1. Participant: The effects on the network are based on more participants and more transactions in the network
It is important to have a well-defined, step-by-step process so that the organization can get on and off the network for both direct and indirect participants. This includes the need to categorize the participating organizations in order to assess their complexity and incorporate them into both network and application components. You should focus on automating the processes to make them robust, secure, easy and fast.
Compliance with security regulations is an essential aspect of building trust in the market. It is necessary to securely configure and manage identity, access control, keys, and certificates as organizations become involved. Be sure to evaluate the integration protocol and the external systems being integrated for both inflow and outflow of data. Examination ability is another important aspect. Create and review the activity checklist and consensus mechanism among participants for onboarding and offboarding compliance.
2. Day Two Operations: The second day after deployment is critical for a go-live network
Define and execute a network operating model for business and technical teams that covers a broad network principle, technical management tasks, business processes and a commercial model for operationalization. Define and execute security standards such as considerations for identifiable and verifiable participants and access control with certificate configuration.
It is necessary to define the health check mechanism to allow automated and manual review of business, system performance and capacity checks. Also define authoritative units, network operating rules, indicators such as transactions per second (TPS), read throughput, transaction latency, various agreed performance indicators, and review mechanisms to monitor implementation.
3. Support model: A robust support model avoids operational disruptions
The support model should take into account both business and technical perspectives. Define and execute end-to-end solution Monitoring includes a consolidated log for your blockchain platform, applications and services. Implement an automated method for log separation, analysis, and proactive alerts and actions. Also, create and run a monitoring dashboard to enable service management for all managed services, application components, and business metrics.
Define and execute the backup strategy for both the blockchain platform and all applications with the support team and establish simple recovery procedures including the disaster recovery approach. Well-defined release management will operate and operate the network, including planned improvements, SLAs for incident management, various severity levels of ticket handling, maintenance release models, and other tasks.
4. Technical and functional improvements: expanding business and technical skills
Future improvements in expanding the network are very important for maintaining your network. A detail-oriented thought process must be applied and roughly divided into the following areas:
- The ability to provide business enhancements like adding new features and more use cases on the existing network in a customizable way
- The ability to handle increased transactions to take on the volume increase
- Add more organizations to the network to allow membership expansion
- Replicating the network across different regions, ie running multiple instances of the network in different regions and / or expanding the network across different regions
Planning your operations perspective from day two through to the expansion and scalability of the business technology is key to being successful in operating and maintaining your blockchain business network.
Stay tuned for our future posts as we continue our delving into the other dimensions that you can use to build an effective business network. For more information and discussions on this topic, please contact us.
What is blockchain for businesses?
Building on a common, unchangeable ledger that can increase the efficiency of trustworthy partners.