Finding a blockchain development company may be tricky for you if you don’t have knowledge of blockchain and how it works. Besides that, you also need to know what skills and expertise a developer must offer you to develop a high-quality, accurate, and secure blockchain system.
This is why we will discuss some important aspects of the blockchain that you need to understand before hiring a developer. Plus, you will also know the tips and tricks to search for the ideal development company.
What Exactly is Blockchain?
We can define blockchain as a system of recording data in a way that makes it almost impossible or tricky to hack, change, modify or cheat the system. Experts believe that it is a safe digital ledger of transactions that are distributed and duplicated across all the computer networks that are on the blockchain.
It is important to note that every block in this chain comprises a specific number of transactions. So, when a new transaction takes place on the blockchain, information of that particular transaction is added to each participant’s ledger. In addition to it, when multiple participants manage the decentralized database, experts call it Distributed Ledger Technology (DLT).
You also need to know that a blockchain is a form of DLT which records transactions with the help of an immutable cryptographic signature, known as a hash. In other words, if a block in a single chain is changed, it will be easy to identify that it has been tampered with. This way, if the hackers want to hack a blockchain system, they need to change each block in the chain. When companies understand the different blockchain tech applications for your business, it may assist with improving client currency security and additional sales.
Who Created Blockchain Technology?
Blockchain was launched in 2008 by the unknown individuals behind the online cash currency Bitcoin, under the name of Satoshi Nakamoto. The aim of this technology is to create one of the first digital currencies, Bitcoin, and to address the issue of double-spending without supervision from a central server.
You also need to know that Bitcoin technology has inspired experts to make other applications. Another reason for its popularity is that blockchains are widely used by cryptocurrencies and are readable by the public.
How to Find a Good Blockchain Developer?
Like hiring a developer for any application, you need to consider certain factors before hiring a blockchain developer. It is important to note that developing this technology can cost you considerable money. So, you need to hire someone who can give you outstanding results.
Here are some tips for finding an ideal blockchain developer for your business.
Check Some Hiring Websites
When you are searching for a highly expert blockchain programmer, you should look into some global digital freelance platforms. Some of them include:
· Toptal
· Stack Overflow Talent
· People Per Hour
· Blocktribe
· GitHub Jobs
· Hired
· Space-O Technologies
· Freelance.com
· Guru
· Upwork
You might have already heard about these websites that offer you a way to connect with different experts in various fields. Apart from this, these websites have an extensive database of blockchain programmers.
On most of these platforms, you will need to post a job and attract companies and individuals to contact you. These marketplaces also offer you broader options; for instance, you can find different quotes of the work you want to be done.
Look for Essential Skills
Simply put, a blockchain programmer needs to have the expertise to develop this system. They also need to have an understanding of ledgers, decentralized technologies, data security, Ethereum network, cryptocurrencies, and cryptography.
Besides that, they should also know the following concepts:
· JavaScript
· Java
· C and C++
· Node.JS
· Python
· Go
· Solidity
The companies you are planning to choose should also have knowledge of data structure, as they have to work with hash tables, linked lists, and acrylic graphs. The last and most important thing is that your blockchain programmer should have a grasp on concepts like:
· Immutability and DLT
· Consensus
· Dapps
· Smart contracts
· Sharding
Choosing Between In-house or Outsourced Development
Both in-house developers and independent contractors have their own benefits and drawbacks. However, if you are planning to create an in-house department, you need to hire an exceptionally professional and skilled team that has the expertise to develop blockchain.
Since you will have your own team, not only will you have to supervise them, but you also have to pay considerable money. Not to mention, your company might also be subjected to taxes, insurance, utility bills, and other additional money.
On the other hand, when it comes to outsourcing your work, you never have to waste your time and effort on additional tasks. All you need to do is specify your requirements and needs to the programmers so that they can build software that suits your company.
Plus, the fee you will pay will cost you less than the amount you may have to shell out on your own blockchain development department.
How Much Does it Cost to Build a Blockchain?
The fees for blockchain developers can differ from one company to another. The cost greatly depends on a list of factors. The level of the blockchain developer’s experience and the size of the company are some of the most obvious factors.
Generally, the prices can range from $2000 for a simple decentralized application to $35,000 for a whole blockchain-based app with a range of functions and features.
What is an Example of Blockchain?
The most common examples of blockchain technology are Ethereum and Bitcoin, which are continually and constantly developing as the experts are adding blocks to the chain.
Another example is IBM; the company has created its Food Trust Blockchain in order to trace the route that food products take to reach their destination. The idea behind this technology is to make sure that people get clean and healthy food.
Conclusion
Now, you know how you can hire a blockchain deployment company. It is important to note that you should have a clear vision of the result you are looking for so that you can choose your programmers and guide them accordingly.