Blockchain technology has emerged as one of the most important technologies which can transform businesses. Nowadays, a lot of companies ranging from small to large companies are exploring blockchain technologies to empower their businesses. In today’s competitive world, many blockchain app development companies are present which are providing their services.
It is expected that by the end of 2025, blockchain technology is expected to grow by USD 39 billion. Blockchain technology offers the best opportunities for entrepreneurs, but there are multiple issues involved. Due to this reason, partnering with multiple blockchain app development companies is a necessity.
What is Blockchain Technology?
Blockchain technology is a decentralized and public database mechanism which allows the recording of transactions across multiple computers. With blockchain, it’s easy to deliver information as it provides complete transparent information which is stored in an immutable ledger. This can only be assessed by specific permissioned members. With the amount of attraction Blockchain technology is gaining, undoubtedly, we can look for more industries in the upcoming year.
Key Elements
Following are the key elements of blockchain technology:
- Distributed ledger technology.
- Immutable records.
- Smart contracts.
- Public key cryptography.
Types of Blockchain Technology
Before discussing different blockchain app development companies, we need to understand the types of blockchain technology. Following are some of the main types:
- Public Blockchain Networks: Allows everyone to join; these are permissionless, and every member of the network has equal rights.
- Private Blockchain Networks: Also known as managed blockchains, the authority determines who can be a member and what rights they will have.
- Hybrid Blockchain Networks: Have elements of both private and public networks. Due to this, companies can have access to specific data while the rest remains public.
- Consortium Blockchain Networks: Multiple organizations use Consortium Blockchain Networks in which pre-selected organizations have the responsibility of determining access rights.
Benefits of Blockchain Technology
Following are some of the benefits of blockchain technology which are provided by multiple blockchain app development companies:
- With the help of blockchain solutions, transparency can be improved, which is necessary for developing employee trust.
- Blockchain app development services also increase the overall security of your system, as all transactions are encrypted and linked to one another.
- Blockchain platforms also lower the cost of outsourced technical support as you don’t need to pay money to the centralized player.
- The blockchain technology is fast and efficient and also maximizes the business output.
- Blockchain nodes are unique, due to which they are resistant to technical failure.
- Best for small businesses who are looking for efficient ways to raise capital.
Pros & Cons of Blockchain Technology
Following are some of the pros and cons of blockchain technology:
| Pros | Cons |
|---|---|
| Enhanced security. | Energy-intensive. |
| Decentralization. | Scalability issues. |
| Transparency. | Lack of regulation. |
| Reduced costs. | Complexity. |
| Improved traceability. | Little risk of hacking. |
| Increased efficiency. | Potential for illegal activities. |
| Trustworthy transactions. | Data privacy concerns. |
Top Blockchain App Development Companies
Some of the top 10 Blockchain App Development Companies are as follows:
LeewayHertz
LeewayHertz is one of the leading blockchain development companies that has more than 15 years of experience. They specialize in delivering customized solutions to multiple organizations, whether they are small or large. Along with this, blockchain app developers also specialize in building decentralized applications and helping increase ROI.
| Company Name | Founded In | Rate Per Hour | Headquarters | No of Employees | Additional Information |
|---|---|---|---|---|---|
LeewayHertz | 2007 | $50 – $99 / hr | San Francisco, CA, USA | 300+ | Has worked on more than 60+ blockchain projects while delivering decentralized apps. |
InvoBlox
InvoBlox is a well known company which offers a range of blockchain application development services. They offer services for trade, payments, supply chain and much more. The company’s headquarters is in Toronto, Canada, and its key clients include Artefy, Mintsclub, etc.
| Company Name | Founded In | Rate Per Hour | Headquarters | No of Employees | Additional Information |
|---|---|---|---|---|---|
InvoBlox | 2007 | $50 – $99 /hr | Toronto, Canada | 401-500 | Provided services to multiple industries including Health Care, Real Estate etc |
Consensys
A leading company providing cutting edge solutions is Consensys, whose main focus is on building Ethereum blockchain apps. They have also developed a variety of developer tools and enterprise solutions for multiple industries.
| Company Name | Founded In | Rate Per Hour | Headquarters | No of Employees | Additional Information |
|---|---|---|---|---|---|
Consensys | 2014 | $800+ /hr | Brooklyn, NY, USA | 100+ | Well known products are Metamask, Diligence, Truffle and Infura. |
Markovate
In the world of blockchain app development companies, Markovate is a well known company that has been providing services for more than 8+ years. Their development team provides blockchain as well as machine learning and artificial intelligence solutions to multiple organizations.
| Company Name | Founded In | Rate Per Hour | Headquarters | No of Employees | Additional Information |
|---|---|---|---|---|---|
Markovate | 2015 | $25 – $49 / hr | San Francisco, USA | 51-100 | Known for developing Smart contract, & Image Recognition apps |
Innovecs
Innovecs is an outstanding blockchain software development company offering world-class services. Operating for more than 10 years and offering services across various fields, their blockchain software developers have enabled Innovecs to expand its business globally and grow.
| Company Name | Founded In | Rate Per Hour | Headquarters | No of Employees | Additional Information |
|---|---|---|---|---|---|
Innovecs | 2011 | $25 – $49 / hr | New York | 250 – 999 | Worked globally with multiple organizations and has worked on enterprise cryptocurrency platforms |
Vegavid Technology
Vegavid Technology is one of the top blockchain app development companies in the USA. They have an experienced team of developers who specialize in building custom blockchain technology solutions for multiple organizations. Their main focus is on providing the best and latest solutions to their clients.
| Company Name | Founded In | Rate Per Hour | Headquarters | No of Employees | Additional Information. |
|---|---|---|---|---|---|
Vegavid Technology | 2019 | $30 – $50 / hr | California, Boston, Houston | 100+ | Known for blockchain app development, distributed document management |
Altoros
Altros is a blockchain app development company that has been providing scalable applications to its clients for a long time. They specialize in blockchain development and help organizations improve their customer experience and transparency.
| Company Name | Founded In | Rate Per Hour | Headquarters | No of Employees | Additional Information |
|---|---|---|---|---|---|
Altoros | 2001 | 50 – $99 / hr | Pleasanton, CA, United States | 250 – 999 | Develops scalable and intuitive apps for their clients. |
IBM
IBM is the top blockchain app development company that has been in business for a very long time. They have generated revenue of more than $ 5,735 crores because of their well trained blockchain developers. They are constantly improving and developing new solutions for their clients.
| Company Name | Founded In | Rate Per Hour | Headquarters | No of Employees | Additional Information |
|---|---|---|---|---|---|
IBM | 1911 | $50 – $99 / hr | Austin, Texas | 2,82,100 | Well known for cloud cost management, Automation, and High performance computing. |
Coinfabrik
Coinfabrik is a blockchain app development company that has now become an expert in providing blockchain technologies. Their portfolio also includes a crypto wallet and an anti fraud system as well. Along with this, they have also developed smart contracts and loan projects.
| Company Name | Founded In | Rate Per Hour | Headquarters | No of Employees | Additional Information |
|---|---|---|---|---|---|
Coinfabrik | 2014 | $100 – $149 / hr | Buenos Aires, Argentina | 10-49 | Develops best UI/UX designand also provides continued support |
MLG Blockchain
MLG Blockchain is a well known company that has a distributed team in more than ten countries. They have been providing services for more than 5 years and have expertise in blockchain development and much more. MLG Blockchain has also developed apps on different platforms, including Hyperledger, Ethereum, EOS, Neo and much more.
| Company Name | Founded In | Rate Per Hour | Headquarters | No of Employees | Additional Information |
|---|---|---|---|---|---|
MLG Blockchain | 2016 | $100 – $149 / hr | Toronto, Canada | 50 – 249 | Worked on diff platforms including Hyperledger, Ethereum, EOS, Neo. |
Steps For Building A Blockchain Solution
With proper blockchain technology, the probability of achieving better ROIs is possible. Due to blockchain technology, it’s difficult for hackers to harm the data stored in the backend. Built for this a proper blockchain solution is required. Following are some of the steps for building a blockchain solution:
Research
Proper research can make your app successful. So, it’s important to thoroughly study your target customers and identify the problem. This way, you will have enough information to plan your app strategy well. Proper research helps you find out what issues can be solved using a new blockchain solution. Research can help you build a full proof strategy that meets the client’s needs.
Brainstorming
After identifying the problem, the next step blockchain app development companies follow is brainstorming. After you find the problem and have enough data for a good solution, talk to experts at your chosen blockchain company. Together, plan how to make your blockchain solution. Discuss all the steps involved in a proper strategy.
Budget
As part of the development process for blockchain projects, allocating a budget is essential. Knowing your allocated funds allows for better planning when allocating them. Consider costs for hiring developers, software testing fees and any additional expenses as you formulate this budget.
Design Preparation
This step is one of the most essential, as it serves as a roadmap towards building an impactful blockchain project app. Before selecting your development partner, carefully consider all features you’d like incorporated into your app. Check if their services match those requirements or not. Discussing any requirements with them can prevent potential future complications from arising.
Development
Once the prototyping stage is complete, development begins. Our experienced developers offer tailored solutions tailored to meet your specifications.
Testing
The testing phase of the blockchain development cycle is also very important. In this phase, the QA team tests the app multiple times for bugs. If there are any bugs, they are resolved immediately, and only then the app passes to the deployment phase.
Deployment
In this phase, the blockchain app is completed and is ready for the clients to use. Development is the process in which the apps or modules are delivered from developers to the users. After the app is deployed, only then the customers can use the app.
Maintenance & Upgrades
After deployment, blockchain app development companies use customer reviews to plan how to maintain and improve the app. Updating the app regularly is a chance to get more users. You need to hire skilled blockchain developers who know the latest trends to keep your app updated.
Why To Choose Leed Software Development?
Leed Software Development Company is one of the top choices when it comes to blockchain software development companies. Our experienced team has been serving our clients for years and boasts expertise across a number of fields. Our developers and designers work diligently on intuitive applications tailored specifically to our client’s needs.
From developing blockchain apps to the development of cross-platform apps for both iOS and Android, we have got you covered. In addition, we place a high priority on testing to ensure that no bugs remain in your software.
Conclusion
In the end, the importance of blockchain app development companies can not be denied. Now, it’s necessary to partner with these companies if you want to develop a successful app. By selecting a reliable partner, you can develop the app with the desired functionalities. Do remember while choosing a company that is in your budget and fulfil your needs.
For you, Leed Software Development is the best option as it will cater to your needs. Regarding the steps of building a blockchain solution, the first is research, after which brainstorming comes. Next is to decide the budget and prepare the design. Choose a company which offers maintenance as well after the release of the app.
