How To Select Blockchain Software Development Company Step-By-Step

20 Jan 2023
blockchain software development article

Launching a new product to the market is not only a time-consuming journey but also stressful. The main fears are to enter the market on time, when there are few competitors in the field, and to present impeccable design and the latest technological solutions to gain and retain customers. These factors play a crucial role in the business’ success and may guarantee high ROI. As development is the base of the process, that is why it is desirable to choose the right company.

Professional development firms can solve many problems. For example, some startup owners are very passionate about their idea but lack the technological background. Without the actual product, even the brightest idea is not relevant. In this case, people usually would consider hearing some advice from professionals. Consulting is especially helpful for startups as enterprises are generally more confident in their ideas or at least have previous experience. Most experienced development companies provide such a service. It is the first step to the goal: consulting specialists form the possible solution and technical assignments for developers. In this way, they are like intermediaries that help to find common ground between the business owners and the developers.

Next, the development team has it under control: research, coding, testing, etc. At this stage, everything depends on meeting deadlines and the ability to fix bugs quickly. Again, with the right company, you can delegate all the management and wait for the presentations of the results. If a company satisfies you in communication, performs accurately, and meets the deadlines, congratulations on receiving a reliable partner.

When it concerns blockchain software development technology, there are some other moments to count. With blockchain striving and gaining popularity, there are more and more companies offering their services. One may get lost in the variety of them and may consider choosing a suitable firm to be challenging.

Our guide is here to help to compare the firms and finally settle with the best option.

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Primary Research for Blockchain Software Development Company

Before there is an intention to compare and decide, there has to be something to choose. References in mind for what exactly you are looking for are certainly a plus. Maybe you heard some advice from the people in the industry or have top priorities formed by yourself. It makes the initial steps easier and helps to filter the companies from the beginning. Keeping it in mind, you can create a list of blockchain software development outsourcing companies based on recommendations from friends, google search, or Clutch, for example. Reviews and market presence analysis will help to narrow the list.

Reviews Indicating the Best Blockchain Software Development Company

Reviews indicate the attitude and feelings of the former clients and are especially helpful when they are concrete. If a company specializes not only in blockchain software development technology, it helps to see the positive reviews about someone’s journey exactly about blockchain. 

Reviews sometimes also include the specifics about working processes and communication, which can help to understand whether you are compatible or if it is better to exclude the company from the initial list and continue to compare.

Market Presence

While reviews are about what others usually say about the firm, market presence is about what the company tells about itself and how it does this. It involves online communication through the site and social media, recognition by the other players in the industry, references by media, and efforts to innovate. 

Even one quick look at the site may help to form the impression. If a company has a website with simple navigation and call-to-action buttons and if it contains all the necessary information, it is a sign that the firm is at least capable of doing pleasant presentations. 

Social media activity usually indicates that the company keeps on track. It is also a suggestion that they are open to discussions and communication. Moreover, some footage of the company’s work processes and ethics is shown on social media. 

Media references, like reviews, show outside approval. Innovation efforts speak for themselves: a company offers unique solutions and paves itself the way to the top of the industry.      

This initial surfing most likely leaves you with a list of similar companies, which makes the final choice even harder. So, the further steps are more advanced and hopefully will help to decide.

Deep Analysis of Blockchain Software Development Outsourcing Companies

After primary research, there are many other factors to consider. Some are about technological aspects, and the other concerns organizational points. The former covers the availability of consulting, post-launch services, blockchain software development tools, cases, experience, and clients. The latter is about workflow in general, the team size, location, and prices. Each factor is relevant to the whole comparison process in its own way.

Blockchain Software Development Challenges to Consider

As was previously mentioned, consulting is especially helpful for startups. Enterprises are usually more confident in their ideas or at least have previous experience. It is especially valued when blockchain software development outsourcing companies have strong expertise to manage to advise on whether the project needs blockchain solutions at all. If a company provides full-stack development services other than blockchain, it is even better as it can faster understand the specifics of the idea and adjust to it.

Regarding the later stages and their importance, it is unlikely to anticipate all future bugs. After the release, some problems may occur occasionally. That is why most companies conveniently provide support after the launch for some period. In this case, there is a slight chance of panic if something happens, as you are sure the company will fix it as soon as possible.

Expertise in blockchain software development technology is the main reason why people seek blockchain development companies. Blockchain has already proved its advantages when it comes to safety and transparency. It is most likely associated with decentralized finance systems, cryptocurrency, and crypto-wallets. Now, most companies provide many more blockchain IoT software development services, namely smart contracts, smart contract audit, tokenization, bridge development, staking, farming, DApps development, etc. Metaverse, NFTs, and Play 2 Earn are gaining popularity too. There is no wonder why blockchain has become a game-changer for many industries besides finance: asset management, lot/lineage provenance, government identification services, eCommerce, healthcare, manufacturing, transportation, etc. When choosing the firm for implementing your idea, make sure it uses the latest blockchain software development tools and can prove it. At least some of the most used technologies should be mentioned on the company’s site, like Solidity, Quorum, Algorand, Tron, Hyperledger Besu, Polygon, BSC, and Ethereum.

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The examples of cases are the most important and exciting part of the website that is worth a thorough and detailed examination. If blockchain is not the only specialization of the company, it is necessary to seek blockchain cases exactly. The firm can be professional with many development technologies, but blockchain can be a weak link. It is a pleasant sign if there is something you use in everyday life or at least heard about among the company accomplishments. It shows the impressive level of their job. If you find a successful case that somehow is related to your idea, don’t hesitate to contact this particular client. Maybe they will become your source of unbiased opinion and shed light on the peculiarities of the collaboration with this blockchain software development company. 

The list of cases is also an indicator of the company’s years on the market, preferable industries for cooperation, and quantity and quality of their clients. 

Regarding experience, new companies may view things curiously and are more open to unusual projects. However, the companies which began earlier totally had more variety of cases. Hence, they had more chances to improve their performance, learn something new, and become experts. Usually, the latter are the ones that provide consulting services.

Mentioning clients, they characterize the firm in two ways. The first is simply quantitative — whether a company chiefly cooperates with small businesses, midmarket, or enterprise can help to understand if it is suitable as there are different approaches to different kinds of businesses. The second is about company values. If there is a firm that cooperates with clients with a questionable reputation, such collaboration will throw a shadow on the company’s reputation as well. Clients from different industries mean expertise in a wide range of topics.

Blockchain Software Development Company Organizational Specifics

People generally choose a full-stack development company for its ability to organize every process and present intermediate and final results. It is more convenient than having different freelance specialists because their communication may be difficult. 

Another valuable point when comparing blockchain software development outsourcing companies is their approaches to the work process. You can dig into how they divide it into stages, how people from different departments communicate, whether there are any obstacles between them, and how they will present the results to you. Of course, some of this information may be unavailable just from the look on the site. Although, some companies do mention what programs they use for project management purposes.

As blockchain may not be the only technology the company uses, it is better to double-check there are sufficient blockchain professionals since it is decisive to meet the deadlines. Also, you can analyze whether the company is interested in excellent performance by how they respond to your emails. If there are any delays and dry conversations, it is better to continue the search.

The company’s location can help to make the final decision. For example, if there are two suitable companies, but one is located far away in a different time zone, it is more comfortable to choose the one closer or at least the one that can guarantee their availability. 

Although, for lower cost, some may reconsider the initial decision. Startups, for instance, generally lack financing, so prices matter to them a lot. Enterprises in this situation are freer. Companies usually adjust to the customers and offer either time & material or fixed price cooperation models. Each model has its advantages and disadvantages, so it is up to you to decide. 

For instance, if the project has limited functionality and future changes are unlikely, it may seem comfortable to calculate the budget for all the services and deadlines in the beginning. A fixed price means that there will be no changes after the contract. 

Time & material, on the other hand, works differently. The team estimates possible time frames and costs for every project stage. As soon as the task is complete and the result is satisfying, you should pay. This collaboration model means that there will be additional communication with the team where you can discuss all the concerns.

Blockchain IoT Software Development Company as a Reliable Partner

Therefore, with the development process having such a crucial role in the project, it is not surprising that there is a wide range of factors for comparing blockchain software development outsourcing companies. Most obvious points like reviews or costs of services are only on the surface, while many others influence the final choice. While the reviews and market presence help to create the list of the firms for comparison, the analysis of technological aspects and organization specifics help to settle finally. A software development firm is not a random contractor. It is a reliable partner. 

If you are looking for that only company, feel free to contact the Idealogic team. We are ready to implement your idea according to your wishes within the minimum possible time frame.

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