The Blockchain testing approach should be comprehensive to cover the various logical and systemic components of the Blockchain such as Identity & Access, Ledger, Peer/Node, Smart Contract, and integrations across Third Party Interfaces. Read more: https://www.cigniti.com/blog/creating-assurance-blockchain-world/

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Creating Assurance in a Blockchain World

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Creating Assurance in a Blockchain World
A Blockchain is a distributed ecosystem marked by the absence of a central authority and involves a Distributed Ledger spread
across multiple nodes managed by multiple entities. The transactions are recorded using an immutable cryptographic signature
known as a hash and added as a chain of “blocks.”
The blockchain market trends
The blockchain technology market is expected to showcase a rapid growth of ~67% over the next four years. The banking and
financial services application area is expected to hold the largest market size in the blockchain market during the forecast
period.
The top emerging blockchain technology trends are
• Emergence of Blockchain as a service (BaaS)
• Enterprise Blockchain Adoption further accelerated by the Pandemic
• Hybrid blockchain models having a mix of public and private blockchain features
There is phenomenal growth potential in the blockchain space within which Consortium based permissioned Enterprise
networks are gaining traction.

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Creating Assurance in a Blockchain World
A plethora of opportunities in Blockchain
The current market trends open a plethora of opportunities in blockchain. Some of the trends are as follows –
90% of European Payments Council members believe that blockchain technology will fundamentally change the industry by
2025.
Moving securities on blockchains could save $17B to $24B per year in global trade processing costs.
A survey among 8 global banks found that blockchain technology could bring down the average cost of clearing and settling
SWIFT transactions by $10B annually.
Components of a comprehensive Blockchain Testing Assurance program
The major components of the testing program can further be classified into
Functional Testing spread across UI/Mobile app interface, User Acceptance, API Validation, System Integration.
Blockchain centric testing spanning the four central pillars of Immutability, Transparency, Security and Consensus
Non-Functional Testing with the key focus areas as such as Consistency Validation, Fault Tolerance, Database Failover,
Resilience, System Performance, Latency, and Synchronization

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Creating Assurance in a Blockchain World
Cigniti is one of the few IT service providers to have invested in a couple of its own blockchain sandboxes across diverse
blockchain technologies. These sandboxes are designed to quickly create a viable prototype for any business application
providing a ready environment to test the viability of the concept and effectiveness of its configuration. Cigniti offers
targeted testing services for applications that include comprehensive validation methods across API testing, functional/non-
functional testing, integration testing, security testing, compliance testing, and performance testing and also includes
specialized testing features, such as peer/node testing and smart contract testing.
Need help? Talk to our Blockchain Testing experts to learn more about vendor financing on Hyperledger Fabric and identify
the issues a typical blockchain project has, and how Cigniti can help in making the blockchain compliant.
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https://www.cigniti.com/blog/creating-assurance-blockchain-world

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