Blockchain technology has been in the market for many years now. Due to its benefits, such as security, decentralization, fraud protection, transparency, and more, businesses from various verticals are opting for the technology into their business processes.
·According to Statista, global spending on blockchain solutions in 2020 is USD 4.3 billion
·Finance sector has the highest distribution of blockchain market value
·More than 50 million people were using the Blockchain wallet by the end of June 2020. This number is expected to grow further in the future.
These figures clearly depict how the world is inclining towards this new technology named Blockchain. And if you, too, are looking out for a Blockchain development services, then this article is exclusively for you.
Here, we will talk about points you should keep in mind before choosing a Blockchain development company. But before you check out the same, lets’ throw light on Blockchain and Blockchain development.
What is Blockchain?
Blockchain is defined as a chain of time-stamped blocks (aka, digital records) that are connected cryptographically. In simple words, it is a digital ledger of transactions with no way changing, hacking, or cheating the system.
Blocks are made up of the digital piece of information, such as time, date, and the record of your transaction.
These blocks also record other information like the participants in a transaction along with the information that makes it different from the other block.
Four things that are necessary to make the technology work include- there should be a transaction, the transaction should be verified, the info related to that transaction should be stored into blocks, and these blocks should have a hash.
Types of Blockchain networks
In general, there are three types of Blockchain frameworks- public, permissioned, and private.
·Public networks are decentralized networks where any user can run full nodes, trade tokens, and mine cryptocurrency.
·Permissioned networks can be accessed by any user but with certain restrictions. This type of framework comes up with great storage space.
·Private networks are shared among reliable firms; it means the general public cannot access them.
Top Blockchain Frameworks
·Hyperledger
·Ethereum
·R3 Corda
·Quorum
·EOS
Choosing one of these Blockchain development platforms depends mainly on two factors: privacy and scalability requirements of the app.
Tips to choose a reliable Blockchain development company
With the increase in demand for Blockchain development services, the number of companies that offer the same has also increased. Therefore, hiring the one for your Blockchain app development requires you to choose the one carefully.
Here are some of the tips that can help you do so:
Set your Blockchain development project goals
Having a clear vision of what you want from your Blockchain application is one of the most important things to keep in mind. Since the technology is not so old in the market, research well and check what’s your competitors are doing to decide these goals.
After this, list down your specific app requirements.
Find a Blockchain development company that offers consultation as well
To shape up your project idea, you need guidance from an expert. Therefore, look for a company that offers Blockchain consultation services.
These services will further help you to narrow down or design your Blockchain app requirements precisely.
Make sure the company follows an agile development process
These days, software and mobile applications are not built using a fixed model; they require an agile approach. This type of development includes collaboration between the cross-development teams, the client, and the end-user.
This collaboration ensures that the project is moving in the right direction.
The company should have experienced professionals
Make sure that the company you choose to get Blockchain development services has highly experienced professionals. It would be an added advantage if those professionals have already developed Blockchain software or applications similar to the one you want to develop.
Look for a dedicated full-stack development team including developers, testers, QA analysts, and support and maintenance professionals.
Timely delivery is a must
Not completing a project within the given deadline directly impacts its cost. Moreover, it also increases the time to market.
Therefore, the company you select should promise for the timely delivery of your project.
Quality comes at a cost
Generally, what people do is to look for a company that offers inexpensive development services. However, it is recommended not to make cost as the prime factor while searching for a Blockchain company.
Choose the one that offers value for your money. Remember, quality comes at a price.
Check the company’s portfolio
Reviews and feedbacks provided by a company tell a lot about the way of their work. Therefore, it is advised to go through the company’s website and check their previous Blockchain development projects.
It would definitely help you to make your choice.
Get highly advanced Blockchain development services today!
The Bottom Line
To develop a Blockchain app, the first thing you need to focus on is to choose the right partner. It is actually the prime factor that leads to the success of your Blockchain development project.
Apart from finding such a company, you can also hire Blockchain developers for your project. However, in that case, also, you need to find trusted sources.
No matter either you choose to go with a custom mobile app development company or Blockchain developers, settle on the one that offers you the worth of your money without comprising the quality of the application. Check out other factors for the same in this post.
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