How To Find The Best Blockchain Application Development Company?
Cryptocurrencies might have run into trouble in various countries. But the blockchain technology behind it has caught on. Companies and institutions all over are trying to commercialize it. Many have been successful in doing so. Blockchain has been helping industries to save billions of dollars.
Moreover, it is taking care of the regulatory framework. The immense potential of blockchain has given rise to a new wave of entrepreneurs. As per the Angel List, there are more than 1500 blockchain start-ups globally as of December 2017. Thus, the actual number is going to be much higher.
There is no stopping the blockchain wave, save one major problem. That is the lack of quality blockchain developers. Blockchain development companies are struggling to find an expert who offers blockchain development services. According to estimates, there are fewer than 5,000 experienced blockchain developers worldwide. On the contrary, the number of qualified software professionals is around 18 million globally. Hence, considering a software developer as a blockchain expert is not right. To be a blockchain developer requires specific skill sets and experience. This shortage of talent is thus going to be around for a while.
Biggest Challenges in Blockchain Development
There are some serious challenges in finding blockchain developers in India and other countries. Only adequate knowledge and experience can help to overcome these obstacles. Following are the significant challenges that need specialized blockchain development skills.
1. Complexity:
The blockchain is full of complex vocabulary that developers need to learn. They need to understand these complex concepts and then apply them in work.
2. Integration with legacy applications:
Integrating blockchain technology solutions with existing applications is challenging. Thus, the practical implementation of blockchain technology is not possible with traditional IT skills.
3. Scalability:
The blockchain is a decentralized system. As such every component of the network requires processing of every single transaction. Thus, it poses the challenge of scalability for a blockchain development company.
Factors to consider before selecting a blockchain development company
Are you into blockchain application development? Are you facing a shortage of talented blockchain developers? Then, to hire an outsourcing team isn't cause of worry anymore. There are several expert blockchain developer companies in India and other countries. These companies have some of the best blockchain developers in their team. As such, they can handle even most complex projects with ease.
It is not easy to find a blockchain development company with the requisite expertise. Therefore, you need to undertake some serious research to be able to identify the most suitable company for you. Here are some factors that need your consideration.
1. Budget:
You need to decide how much you are willing to spend on a project. Different blockchain development companies have different charges. So, you must identify your budgetary constraints before selecting a developer.
2. Timelines:
Some companies take more time developing a blockchain application. But their work quality is excellent. Others might deliver it but, might not be able to meet your expectations.
3. Skills Required:
Not all blockchain development companies are expert in all aspects. You must understand your requirements first and then identify a suitable candidate.
4. Support Services:
Blockchain technology is still evolving. Make sure the software development company you select offers you good support services. It will make sure that your applications are compatible with future developments.
How to find the best blockchain development company
Finding a suitable blockchain development company could be a tricky task. Here are some suggestions to help find the best blockchain application development company.
1. Attend Blockchain Exhibitions:
Blockchain exhibitions attract talent from around the world. These are the best places to meet all types of companies as well as developers. Avoid cryptocurrency events and focus on blockchain events. These events will offer you information on the latest development in the community. Also, you can hire a developer or company for your project here.
2. Create a Hackathon:
Hackathons are useful to find best blockchain development companies. Throw a challenge like the work quality you desire. The developers or companies who are able to solve the challenge are suitable for you. It might take some time and effort from your side to organize such an event. But in the end, it is worth the effort.
3. Freelance Marketplaces:
If you need blockchain development companies, they also need clients. Freelance marketplaces can be an excellent platform to meet them. It assures you of good quality service and timely delivery. The developer also is sure about receiving the payment. It is a win-win for both the parties.
4. Specialized blockchain groups:
Blockchain companies are active in blockchain groups and communities. You can post your need there and get in touch with the required developers. You can also read reviews shared by other clients. This will help to identify trustworthy companies.
However, the blockchain is one of the most significant innovations of this century. It is going strong and will continue to do so in future also. Thus, the benefits offered by blockchain applications are substantial and worthy of your investment. Not investing in this amazing technology now, might leave you behind the competition. You must avail the services of an expert custom web development company in India.
At Signity Solutions, we offer you excellent blockchain development solutions. Our team of experts has been helping clients globally with their blockchain requirements. With our skills and expertise, we take care of all your needs. Get in touch with us now and avail the fantastic benefits of the blockchain. Contact us now.
