Blockchain technology has proved efficient in several business operations and industries, such as real estate, banking, gaming, automotive, and stock trading, contrary to the popular opinion that blockchain is only reserved for cryptocurrency.Â
Blockchain stores verified electronic records as a decentralized ledger for its users. It protects, validates, and allows users to access and share data. The blockchain revolution has attracted plenty of developers, given its growing demand in the corporate and public sectors, but that doesn’t mean you should work with just anyone who crosses your path.
Blockchain development companies have different levels of experience, expertise, and resources, hence the need for evaluation before choosing their services. You should put your business’s needs first and end up with the best option. The US and China are at the forefront in registering an impressive number of blockchain startup companies as worldwide spending on open ledger technologies continues to grow.
There are several benefits of blockchain technology awaiting you, whether you are looking for a company to develop a private blockchain or help you choose from the existing platforms. The outstanding advantages of using a distributed ledger include fraud protection, keeping records, and facilitating transparent transactions. Before getting to the developer hiring part, it is important to understand first what blockchain development entails to make an informed choice.
Understanding the Blockchain Development Process
Designing a comprehensive decentralized digital ledger is a detailed process that consists of several stages. It is crucial to get the impression of how blockchain technology is developed. The development steps include the following:
- Goal Identification: the first step is identifying the prevailing problem and understanding if a blockchain system will solve it. If a blockchain can provide solutions to your needs, proceed to the next step: finding a suitable platform or developing one from scratch.
- Selecting a Blockchain Platform: choose a blockchain platform depending on your needs. You can select among the available ones or have one created for you. A blockchain development company can help you to select a blockchain that meets your needs.Â
Still, you can go for custom blockchain development services if privacy is a concern. Your choice of blockchain development company should be able to deliver solutions seamlessly.
- Blockchain Roadmap: the next step is identifying an appropriate workflow design that offers value to all users. At this point, on-chain and off-chain business entities to be included in the design are selected. Also, a decision has to be made on whether the system will be built in permissioned, public, or private networks.Â
- Proof of Concept (PoC): this is a prototype or theoretical presentation of the project showcasing what it is aimed to achieve. It is shown to stakeholders if any, and the project commencement relies on its approval.Â
- Development Kickoff: the actual blockchain development process starts after the successful execution of the other stages. Developers get down to creating applications that visualize the requirements of participants and deploying them into already established servers.
You can find a suitable developer now that you have an idea of the blockchain development process. This article discusses the tips for choosing a blockchain company, as your choice of a blockchain developer matters. If you’re to get the most out of blockchain technology, use the following tips for a successful selection of your developer:
Industry Experience
It would be great if a company you are interested in had the experience of working in various sectors requiring blockchain services. If you need blockchain car sharing services or another decentralized app in a specific niche, find a company with experience in the same.Â
In doing that, there are better chances that the company will offer you what you need on top of quality services. This is because they already have delivered similar services and are more likely to know the best procedures and practices to get you good results. More years of industry experience imply that they are conversant with their work area.
Customized Blockchain Development
Getting a company that can deliver customized solutions is crucial if the pre-defined blockchain platforms only meet some of your business needs. A company that offers custom blockchain development services can analyze present challenges and offer tailor-made solutions.
Client Portfolio
A reliable blockchain development company should have a portfolio to which they can refer their potential clients to review their past performances. The portfolio should highlight all their completed projects and ongoing ones. Look out for projects that are similar to yours and check how they have been executed. If need be, contact the owners of the projects for their opinion on what it was like to work with the company.
Expertise and Industry Knowledge
If you are interested in crypto, it will help if you hire a company that is well-informed on different blockchains so that they can help you select the best. They should know how different and popular blockchains operate, such as Bitcoin, Ethereum, Binance, etc.Â
Knowledgeable blockchain creators should also show an understanding of programming languages and tools. You should also consider hiring a blockchain development company that keeps up with the latest trends in the blockchain world. That way, you are sure they’re up to date with the technology and will offer the best solution for your needs.
Customer Reviews
Reviewing past client reviews can help you discover if a blockchain development company’s services are fulfilling or not worth trying. Unbiased testimonials or client feedback reveals if the company is keen on delivering as per customer expectations and if they can keep time, among other revelations.Â
Cost
The final result of your investment should match the company’s price, giving you value for your money. Compare the pricing of reliable companies and settle for the one with the most reasonable budget. Cost and quality should go hand in hand. Beware companies that are not straightforward with their pricing from the word go to avoid overstretching your budget with hidden charges.
Customer Support
Getting involved with a responsive company that is attentive to its customers during the consultation and even after the project completion is important.Â
Closing Thought
Clearly, a qualified company can help you develop a robust blockchain application that safeguards your business operations. However, you can only benefit from involving such a company if you take your time to scrutinize their qualifications. Start by paying attention to the shared tips and only agree to engage a company that proves they can implement workable solutions.
