Blockchain Companies

Revolutionary Blockchain Services. 2021 Checklist

At the stage of the emergence of blockchain and blockchain tech companies, this technology was used exclusively for cryptocurrency. Then, somewhat later, it was adopted by banking structures. Today, the new system enters our everyday life quite deeply and is found in many areas of social life.

So what is the importance of blockchain? Blockchain software development platforms and business app platforms can monitor copyright compliance, track the production of goods for compliance with stated standards, let alone absolutely all financial transactions. Such system mechanics reduce risks and costs for all parties involved.

Blockchain Services

So what is blockchain after all? It's an innovative system of storing and transmitting information in the form of sequential chains of transaction blocks. Block information is copied and stored on different computers without being linked to any particular server, which makes it impossible to switch records.

Simply put, blockchain is a database that runs simultaneously on thousands of computers (nodes), allowing it to keep track of all relevant information. Thanks to this, decentralization is achieved, i.e. there's no "main server." Such operation principle offers all authorized network participants shared and fully transparent access to information in an unchanged registry. That's why global companies are actively implementing blockchain technology in all their structures.

Most Popular Blockchain Platforms. Blockchain Software Companies

We are increasingly seeing the emergence of blockchain platforms that support blockchain-based app development. Like any development platform, the right blockchain software development allows enterprises to experiment in data management and transaction processing.

List of blockchain companies

1. IBM Blockchain

IBM stays ahead of other leading blockchain companies, due to a separate division that deals exclusively with blockchain app development. With IBM Blockchain, companies can improve and modify their business relationships through the transparency of IBM's trustworthy structure.

2. Ethereum

Blockchain Ethereum is responsible for the development and release of cryptocurrencies and crypto token development. This platform offers many useful and convenient features, including Turing-complete languages (AKA “universal” languages), software tools for developers with the ability to choose different programming languages, and a virtual Ethereum wallet. The latter allows you to store and protect crypto-assets, simplifying the development of smart contracts.

3. Ripple

Ripple is a company-developing blockchain focused on the financial activity environment. Founded back in 2012, this company links Internet exchanges, resources, payment providers, banks, and more via Chainlink (a popular oracle network for powering hybrid smart contracts). This is a great opportunity to create large-scale payments using the platform or even, say, your own financial solution. Currently, more than 250 companies around the world choose Ripple for their digital asset transactions.

4. Hyperledger Fabric

The platform serves as the basis for creating blockchain-based solutions that provide a high level of flexibility, reliability, and scalability, which is great for corporate-level applications. In addition, transactions include signatures from all supporting participants and are submitted to the order service for review. Hyperledger Fabric is widely regarded as "the best platform to build a public blockchain."

5. Hyperledger Cello

Hyperledger Cello allows developers to build a Blockchain-as-a-Service (BaaS) platform from scratch, as well as manage the blockchain lifecycle. It's both a blockchain platform and an operating system.

6. Corda

Corda is an open-source blockchain platform that allows you to achieve a higher level of privacy for your team due to the approved model and no intermediaries. It's important to note that Corda has no cryptocurrency of its own, unlike many blockchain platforms.

Companies Developing Blockchain

The growing popularity of the crypto coin development subject caused increased interest in blockchain technologies. Obviously, a logical question arose: what's the best blockchain platform? What is the best solution for your business project development? Many experts from all over the world tried to determine the best blockchain. However, there are no unsuccessful or positive options because each distributed registry solves specific problems. Therefore, successful choosing of the best platform for your blockchain business largely depends on the functionality of the project and the expertise of blockchain development companies.

The Complexity of Choosing a Blockchain Platform

When choosing the optimal platform, you have to understand that different blockchains implement different tasks: some of them are focused on the creation of cryptocurrencies for instant payments. Others can be used to implement smart contract algorithms or are suitable for crypto token development. However, there's no all-in-one solution for every task type.

Public vs Private Blockchains. What Should You Choose?

When mentioning the "blockchain" term, most people immediately recall something like crypto-assets and equality of network users. In fact, this only applies to public blockchains. Here and further are the advantages of blockchain types.

About Public Blockchain

A public blockchain is a completely transparent registry that any user can join whenever he/she wants. Since such a blockchain is decentralized, data in it is encrypted and stored on multiple devices.

Advantages of Public Blockchains

• High level of security;
• Full accessibility;
• Anonymity;
• Immutability;
• Decentralization (which is completely absent in private blockchain networks). Because each has a copy of the registry, it also generates a distributed nature.

About Private Blockchain

A private blockchain is a network run by a specific organization. One can only participate in the system by invitation from the owners, with their permission. Blockchain participants must have permission to read, record, or check the system.

Advantages of Private Blockchains

• High efficiency due to the lack of additional resources and platform underflow (unlike public blockchains).
• Complete confidentiality;
• Enterprise and blockchain technology expansion;
• Invariability of low transaction fees;
• No illegal activities;
• Functional regulation of rights for employees in a corporate company.

Blockchain Engineering

Blockchain consortiums are on the boundary between public and private chains, combining some of the properties of both. Their essence is a temporary association of independent businesses and organizations, where access, as validators, can be equal from all sides. It's a great tool for blockchain software development through connecting specialists.

Is a Smart Contract Always Necessary?

On the one hand, a smart contract is just a software code, an ordinary calculator-like app, i.e. just an electronic set of protocols, used by the parties to fulfill their promises. On the other hand, such a contract is a solid foundation for any system operating in an environment without trust and centralized authority. It's the basis for any decentralized app, especially if there's an exchange of value: money, goods, rights, etc.

Smart contracts are the most used products in blockchain engineering. They operate according to an invariable algorithm, which creates a user-safe environment. As a result, smart contracts have found an excellent implementation of their functions on blockchain platforms.

Blockchain Software Development

Blockchain software development is a crucial element in the Blockchain structure. Before choosing a platform for yourself, it's worth evaluating the following blockchain parameters:

• Consensus algorithm;
• Company's tech support and communication;
• Cost of issuing a token and transaction price;
• Network bandwidth;
• Test networks availability;
• Functionality for creating and using individual smart contracts;
• Wallet security level;
• Transaction speed;
• Liquidity (interaction with exchanges);
• Scalability.

Blockchain Development Company. How Do You Choose It?

Blockchain development research predicts the full adoption of blockchain in all areas of life by 2025. Blockchain actualization is growing almost every day. And many organizations are finding that it is the Blockchain platform that offers the most convenient system to implement their needs as a technology solution.

However, finding a suitable, qualified blockchain development company to implement blockchain technology is a real challenge today. In fact, blockchain project development requires not only knowledge of coding languages but also a full understanding of the scheme of decentralized applications (or dApps) and skills in cryptography.

Finding the right company to develop your blockchain-based idea means searching for an organization based on certain characteristics. So what are the factors to consider before choosing a company and blockchain technology?

Blockchain Tech Companies

There are many options for choosing a team of experts to implement a blockchain company, but not all of them have the necessary skill set to implement a full-fledged DLT product.

Project Category

When choosing a suitable company, we recommend starting with its specialization. For example, there are companies that only write Ethereum-based smart contracts or blockchain tech companies that are only into cryptocurrency issuance.

Innovation Aspect

When creating your project, to get maximum benefit and efficiency, it's essential to focus on all innovations in the blockchain industry. It's worth making sure that the companies developing blockchain have competent people following the latest trends in the IT industry.

Professional Development Team

Choosing a team with the necessary blockchain software development skills is important here. Blockchain project development requires certain skills. Thus, only specialists with successfully completed projects in the past can ensure efficient and prompt performance.

Blockchain Security Companies

For any respectable blockchain company, uninterrupted data protection is a must. It's necessary to understand how much and what security filters the development team uses when developing your project. They should use all possible options for the multi-signature feature to integrate two-factor authentication. Then there are also special blockchain security companies, which can help you with related problems.

Blockchain Service Providers

Understanding how outsourcing models affect project development and payment will help avoid potential problems and misunderstandings when contracting with blockchain service providers.

Major Outsourcing Models

The "fixed price" model, where the cost is pre-determined by discussion, assumes no change from the effort and resources spent on the blockchain project.

The "dedicated development center" model assumes long-term cooperation and consists of building a team of specialists by the outsourcing firm for client needs. This model is justified if there is a constant volume of IT tasks, which will provide a continuous workload for the team, as client payments go on a constant basis, regardless of the stage of blockchain software development.

The "actual labor costs" model has quite a flexible character and implies no specific project price: payment is only made for the actual amount of work. This model allows you to quickly modify the project if new conditions arise.

About Blockchain Solutions and Their Popularity

Today, Blockchain is helping transform businesses in all industries across the globe. It's all thanks to its operating technologies and transparency. It's a great way to establish a trusting connection between customers and developers. Thus, there's no surprise Blockchain has become the modern version of the business revolution. And almost all sorts of organizations have not hesitated to use it.

Blockchain Options

Opportunities and blockchain services have applications in almost any existing structure. Widespread blockchain solutions are already widely used by a multitude of financial organizations of all kinds, from food to heavy industry; as well as banking, healthcare, media, entertainment, art, and even politics.

Supply chains have also gained a lot of popularity allowing public access to the delivery history of a product, from the beginning of its journey to the direct processing and the finished version. Such a system allows for a trusting, positive relationship between supplier and customer.

FAQ

Q: What is Blockchain?

A: Blockchain is a network, multi-user database, designed to record transactions, store various assets, and provide transparency into the relationship between consumers and producers.

Q: Which are the most popular blockchain platforms?

A: IBM Blockchain, Ethereum, Ripple, Hyperledger Fabric, Hyperledger Cello, Corda are definitely among the leading platforms. And their popularity is growing rapidly every day.

Q: How to choose the right platform for your blockchain project?

A: Identify the focus of your project and its functionality, then engage a parametric search among reputable blockchain platforms. Choose the most experienced ones and those that have great customer feedback.

Q: Which are the most widespread blockchain solutions?

A: Blockchain solutions have a multitude of applications in almost any existing structure. The most popular ones are monitoring and transparency of global supply chains, secure exchange of medical data, identity security, international payments, trading platforms, and, of course, a cryptocurrency exchange.

Q: How do you choose an ideal blockchain development company?

A: To choose the most reliable professional blockchain development team, do research to find out the number of their successfully completed projects. You should also understand their focus on IT innovations and trends, as well as their methods, and data security assurance.