hyperlink infosystem
Get A Free Quote

The Cost To Develop A Blockchain-Based App Platform

Blockchain

16
Dec 2020
2148 Views 5 Minute Read
the cost to develop a blockchain-based app platform
podcast
Blockchain technology is one of the most trending technologies these days and is used for more than just economic transactions. Blockchain tech can transform the traditional ways to do business and transact with each other. The term Digital transformation perfectly blends into the definition of blockchain.
 
Blockchain represents the decentralized network essential these days, and companies do not want to let this go. Businesses seek a top mobile app development company with several years of experience in building the blockchain app according to their needs. But the question is: how much does it cost to build a blockchain-based app platform?
 
The cost to develop a blockchain-based app depends on multiple factors, including app features, blockchain type, complexity, a blockchain platform, and other tech stacks. Considering numerous factors, examples, & numbers, we have evaluated the cost of blockchain-based app platforms.
 
In this blog, we will look at the various factors that should be considered to estimate a blockchain app's cost.
 
- Process or Phrases
- Complexity
- Development Resources
 
We will look into each one by one. Let's begin!
 
Cost Determination of Blockchain-based App
 
1. Process / Phrases
 
process-phrases
 
Cost of blockchain implementation is invested in various activities or phrases of the project, including:
 
- Design: System Blueprint, UI/UI design including wireframes, low-fidelity designs with app flow & high-fidelity designs with a mock-up.
- Development: Coding & Testing
- Deployment: Deployment on DevOps, Cloud Platforms, and Delivery
- Migration: Moving the current solution to the Blockchain platform
- Maintenance: Maintaining new updates & testing if the app runs seamlessly on each OS release. 
- Upgrade: New features, Modifications in Smart Contracts
- 3-rd Party Tools: Hosting, Storage, Collaboration, Notification System
 
Blockchain-based platforms also incur other costs, such as a developer paying some fee to deploy a contract on the blockchain.
 
Below are a few third-party tools that blockchain apps might use:
 
- Bug tracking tools like Instabug & Bugsee: Collecting and reporting live bugs
- Amazon web services: Computing, storage, and delivery
- Analytics with Mixpanel: Analytics of funnel, insights, data, and reporting
- Notification services like AmazonSNS: facilitating notifications inside the app
 
Project Management Cost
 
For instance, applying an agile method to execute frequent meetings or daily scrums, track the existing sprint, testing, bugs, timeline, and deliverables. And using tools like Jira and Trello to enable the agile technique. The cost of using such tools can also contribute to the cost of blockchain. For example, using the Jira tool to deliver action items to customers & track the internal team's progress.
 
Continuous Integration
 
It is essential to preserve a pipeline of quality code. Every developer must write code and conform to a standard code depository to ensure that it works seamlessly with everyone else's code. The correct way to check this is by using an automated process. The source code can be handled with tools like Github and Bitbucket. These tools also contribute to the blockchain-app cost.
 
Maintenance
 
Since this tech is still new in the market, and new platforms are entering the market each day, the apps can be converted to different platforms based on their flexibility, scalability, and confidentiality. Moreover, every year Google, Apple, and various blockchain platforms release new OS updates. This calls for a maintenance cost of 15-20% of the overall project cost, and it could differ based on the complexity.
 
2. Complexity
 
The cost of blockchain depends on the complexity of your app, and the complexity depends on multiple factors.
 
We have segregated the blockchain app into 3 categories based on their complexity:
 
Low-Complexity Blockchain Apps
 
- Basic Smart Contract Development App
- Payment apps developed with current cryptocurrencies 
 
Medium-Complexity Blockchain Apps
 
- Semi-decentralized apps
- dApps developed on blockchain platforms such as Hyperledger, EOS, Ethereum, Fabric/Sawtooth, and more
 
High-Complexity Blockchain Apps
 
- Developing a blockchain platform from the start
- Creating an entire decentralized network
 
3. Development Resources
 
development resources
 
The cost of recruiting a team for mobile app development is a significant contribution to the estimated cost. Salaries to the software developers are the main expense, but other imp factors include vacations, incentive compensation, benefits, holidays, and payroll taxes.
 
There are several ways to develop a blockchain app, and some of them are as follows:
 
- Developing a blockchain-based app with an in-house team
- Recruiting a freelancer for a blockchain-based app platform
- Recruiting an agency to develop a blockchain-based app
 
In-House Team
 
Maintaining an in-house team of blockchain developers seems complicated only cuz' of monetary factors. However, digging deeper, you will know there are plenty of issues. Although, you will have a dedicated team who will be on their toes if any problems arise. You will have complete control over your blockchain development and manage the team's expenses, including their incentives, vacations, workspace, and more.
 
Since blockchain is still nascent, there is a lack of experienced developers in the market. The average pay of a blockchain developer is $150k annually. It can be more expensive to recruit an in-house team than outsourcing a blockchain development company.
 
Freelancers
 
Hiring freelancers can be the least costly for blockchain app development; however, 80% of businesses face problems like their availability, quality, response time, and more. You can recruit a freelancer if your project is small because the risk factor rises with the project scope.
 
Agency
 
Any blockchain specialized agency can be the best option. Agencies serve as a full-time service provider and are experienced in the app development practices like Agile & DevOps. The cost of a blockchain app is lower than the in-house team. Sign a contract before starting to work on your project, which includes deliverables with particular timelines. Hence, you can count on them for your core business competencies.
 
The Endnote
 
Blockchain is still evolving, undoubtedly, but choosing the top blockchain development companies can solve your problems. Developing a blockchain can be somewhat costly if you build it with an internal team, as mentioned above. Hiring a company can do a great job saving you lots of money and offering you a great service simultaneously. This is the best time to get a blockchain app that will help you achieve new heights in your business and easily resolve your problems.
Hire the top 3% of best-in-class developers!

Harnil Oza is the CEO & Founder of Hyperlink InfoSystem. With a passion for technology and an immaculate drive for entrepreneurship, Harnil has propelled Hyperlink InfoSystem to become a global pioneer in the world of innovative IT solutions. His exceptional leadership has inspired a multiverse of tech enthusiasts and also enabled thriving business expansion. His vision has helped the company achieve widespread respect for its remarkable track record of delivering beautifully constructed mobile apps, websites, and other products using every emerging technology. Outside his duties at Hyperlink InfoSystem, Harnil has earned a reputation for his conceptual leadership and initiatives in the tech industry. He is driven to impart expertise and insights to the forthcoming cohort of tech innovators. Harnil continues to champion growth, quality, and client satisfaction by fostering innovation and collaboration.

Our Latest Podcast

Listen to the latest tech news and trends we have discovered.

Listen Podcasts
blockchain tech
blockchain

Is BlockChain Technology Worth The H ...

Unfolds The Revolutionary & Versatility Of Blockchain Technology ...

play
iot technology - a future in making or speculating
blockchain

IoT Technology - A Future In Making ...

Everything You Need To Know About IoT Technology ...

play

Feel Free to Contact Us!

We would be happy to hear from you, please fill in the form below or mail us your requirements on info@hyperlinkinfosystem.com

full name
e mail
contact
+
whatsapp
skype
location
message
*We sign NDA for all our projects.

Hyperlink InfoSystem Bring Transformation For Global Businesses

Starting from listening to your business problems to delivering accurate solutions; we make sure to follow industry-specific standards and combine them with our technical knowledge, development expertise, and extensive research.

apps developed

4500+

Apps Developed

developers

1200+

Developers

website designed

2200+

Websites Designed

games developed

140+

Games Developed

ai and iot solutions

120+

AI & IoT Solutions

happy clients

2700+

Happy Clients

salesforce solutions

120+

Salesforce Solutions

data science

40+

Data Science

whatsapp