Blockchain Companies

Ranking Blockchain Development Companies

Our Step-By-Step Evaluation Methodology

This research endeavour is based on a complex methodological system designed to carry out a multilayer analysis of several factors. Below, you can find the details of our approach.

The Company’s Website

The first step of our research effort is visiting each company’s website. Once we land there, we try to pick all the relevant information about the company in question. 

First, we find out how long the company has been on the market. New blockchain companies can be equally successful as companies with a long history; however, we trust the latter more. 

Next, we focus on uncovering the proficiency of the company. For that purpose, we check their portfolio and case studies and try to learn more about the approach the team takes, their problem-solving capabilities, and the industries in which they specialize.

Diving deeper, we take note of how successfully they have met the client’s goals and objectives by checking out the actual solutions they’ve built.

Finally, we look for client testimonials. Needless to say, we favor companies that have more satisfied customers. 

Services & Proficiency 

After carrying out the in-depth website visit, our next step is focused on understanding the products and services being offered by the blockchain companies. With this in mind, we consider the following:

Type of Development

The type of development doesn’t influence how the companies are ranked. However, it does enable us to classify them. We take into consideration two types of blockchain development:

• Core blockchain development which generally tackles the design, software architecture, and security of a blockchain-based system;
• Blockchain software development which deals with the actual code that resides in any blockchain-based app or network.

Type of Solutions or Products Offered

Another important aspect we note is the type of solutions offered by the blockchain developers. Here is a part of the services we take into consideration:

dApps

dAPPs, or decentralized apps, are open-sourced and run on a peer-to-peer computer network. They use the same frontend technology as conventional web apps but their backend uses smart contracts to connect to the blockchain network. dApps provide enhanced security features and, since they don’t rely on a single server, the risk of central point of failure is reduced.

Private Blockchain Development

Private blockchain is a decentralized network which requires a member to receive an authorization to access the system. It provides the full spectrum of blockchain technology benefits, high-level of scalability and security, and full control of data and transactions. Mostly used in enterprise software, private blockchain provides a unique opportunity to create an effective system according to the specific needs of the client. 

Cryptocurrency Wallet

A cryptocurrency wallet is needed for any cryptocurrency transaction. Custom wallet development means creating a tailored solution for your business transactions and involves additional services like cryptography implementation, cryptocurrency integration, and employment of the best security practices. 

Cryptocurrency Exchange Development

A cryptocurrency exchange enables fast and secure trading with digital currencies. Such a platform enables integration with different payment methods, as well as high-security standards. With the cryptocurrency business advancing rapidly, the need for reliable solutions serving this field is bigger than ever, giving businesses the opportunity to use this untapped potential.

Smart Contract

Smart contracts permit safe transactions to be carried out between anonymous parties. They utilize an agreement between the two parties (the buyer and the seller) written into the code which exists in a decentralized blockchain network. Such a system might help you gain customers’ trust ensuring they will get an easy and secure transaction.

Supply Chain

A supply chain connects a company and its suppliers with the end-goal of producing a specific product to the buyer. A chain is developed to enable the company to reduce its costs and allow for a faster cycle of production. 

Blockchain Development Platforms & Frameworks

A professional blockchain development company should be able to develop blockchain-based services on-top of the markets’ most popular platforms. Picking the right platform depends on a series of factors, including activity, supported programming languages, popularity, type of network, GitHub Repo, costs, and technical support. Most of the blockchain development companies outlined above offer consultation services and will adapt their services based on your platform of choice and current demands. 

Ethereum

Based on the Ethereum Virtual Machine, Ethereum is a trustless smart contract platform which allows everyone to develop decentralized apps on blockchain. Its ecosystem is fueled by its own cryptocurrency called Ether. 

OpenChain

OpenChain is open-sourced and best suited for businesses that want to handle their digital assets. Characterized by security and scalability, this platform uses a client-server architecture where the transactions are validated by the asset admin. 

Stellar

Stellar is an open-source platform designed to ease the cross-asset transactions. Powered by its own digital currency, XLM, this platform enables blockchain technology development of banking tools and wallets.

NEO

NEO is an open-source platform which uses Delegated Byzantine Fault Tolerance mechanism. It digitizes assets and automates their management process using smart contracts. Furthermore, NEO supports multiple languages such as Java, C#, and Python.

EOS

EOS is an open-source blockchain protocol aiming to provide sApps hosting, decentralized storage of enterprise apps, and solve scalability problems with Ethereum and Bitcoin. 

R3 Corda

R3 Corda is an innovation platform that enables companies to make transactions with smart contracts at reduced costs. What was first meant to serve only the finance sector is now applicable to other industries including healthcare, government, and supply chain.  

Quorum

Quorum is an open-source platform based on Ethereum aimed to serve enterprises. Only authorized participants can be part of the transactions executed on the platform. With a mission to make blockchain adoption an easy process, Quorum provides full-service support. 

MultiChain

Multichain is designed for private blockchains development and deployment. It offers full control over every aspect with optional proof-of-work. Additionally, it enables multi signatures, external private keys, and admin by consensus. 

Ripple

Via its network, RippleNet, Ripple enables financial institutions to process payments instantly and securely. Payment providers can use the digital asset XRP to reduce costs and tap new markets.

Programming Languages

The team’s proficiency in the core programming languages is another important factor that we kept in mind when designing our list of blockchain companies. Generally, blockchain-based software is built via several languages, including:

C++

C++ is perfect for blockchain-based apps since it offers greater control over memory, multi-threading capabilities, alongside core object functionalities that are perfect for core blockchain development, and less-suited for blockchain software development. 

Java

While in many ways similar to C++, Java features an object-oriented approach and can be thoughtfully integrated within a large variety of apps and platforms. It’s perfect for blockchain development thanks to its portability functionalities. 

Python

Studies have showcased that Python-based blockchain apps underperform when it comes down to carrying out complex cryptographic operations. However, this is an excellent language for blockchain technology companies looking to create workable prototypes of their ideas. 

Solidity

Solidity is by far the quickest growing programming language for blockchain development since it was scripted with smart contracts in mind. It’s perfect for Ethereum core development, and it helps developers solve a plethora of blockchain-related challenges. 

JavaScript

JavaScript developers are known for being able to create highly-capable apps that also take creativity into account. This language comes pre-installed on most systems; therefore, cross-platform compatibility is ensured. 

Go

Also known as Golang, this programming language is syntactically similar to C. It provides, however, memory safety and garbage collection. Those features, along with its scalability and speed, make it perfect for developing smart contracts and other blockchain solutions.

Blockchain Development Tools

Our ranking of the best blockchain companies wouldn’t be complete if we failed to take the development tools into account.  

Mist

Many blockchain services require a wallet, and Mist represents a great solution in this regard. Developers and users can leverage it to store ether tokens and execute smart contracts. 

Geth 

Perfect for Ethereum development via the Go programming language, the Geth tool acts as a full node for the Ethereum blockchain. Top blockchain companies can utilize it to carry out a variety of tasks, including mining ether tokens, transferring tokens between addresses or creating smart contracts that can be seamlessly executed via the Ethereum Virtual Machine. 

Solc

Solc serves as a solidity compiler, which transforms scripts written in the Solidity language, to formats that can be read and executed by the EVM. 

Remix

Written in JavaScript, Remix is a great compiler for small contracts. It’s also the best choice for learning Solidity. Developers are given a side screen to write the code which then they can deploy onto the blockchain on the other side of the screen. 

Blockchain Testnet

Blockchain Testnet enables Ethereum project testing before using the Mainnet to deploy it. The Ethereum blockchain in Testnet is identical to the one in the Mainnet. The only difference is that Mainnet is used for actual transactions that have value.

GanacheCLI

A fast and customizable blockchain emulator, GanacheCLI replicates the Ethereum network and enables making calls to the blockchain without any hassle. Additionally, it has a simple Graphical User Interface and enables recycling, resetting, and instantiating of all accounts in the Testnet with a defined amount of Ether.

Metamask

Metamask can be installed as a browser extension, enabling users to use an Ethereum wallet and store their ERC-20 tokens, as well as interact with Ethereum dApps.

Project Management, Communication, & Reporting

A company with impressive skills but poor project management is bound to fail. Therefore, when listing the companies developing blockchain we took this factor into account. We gave advantage to the companies that implement Agile management as that is the method that has proven to be the most efficient in development.

Additionally, we valued companies that invest in transparent communication. We expect that the person appointed for contact to be available to communicate with the client throughout a variety of channels. What is more, they should deliver comprehensive reports on progress and inform the client about the actions they are about to take.

Pricing Model Analysis

Given that blockchain technology represents one of the market’s most innovative trends, it’s understandable that prices tend to be higher when compared to the industry standards for general software development companies.

When compiling our list of blockchain companies,  we looked for candidates that offer prices aligned with the industry standards, and respect a relative price average for projects they work on.

It’s worth mentioning that we weeded out the companies offering extremely low, or unreasonably high prices. The type of billing (per hour or per project) didn’t influence our rankings since this is a matter of client preference.

How to Hire a Blockchain Developer Using Our List

A Comprehensive Guide

Last but not least, we would like to offer several tips to ensure that you make the best hiring decision. There are several factors worth taking into account when shortlisting the companies.

Why Do You Need Blockchain?

Generally, there are three reasons why one would need blockchain:

• For internal use within the company;
• For hosting services intended to market;
• For creating a distributed app or smart contract.

This is an important aspect to consider since each of the three reasons requires different development methods. The best blockchain software development company for you is the one that specializes in writing and developing the exact type of software you need.

What Type of Blockchain Development Do You Need?

When we curated the list we made sure to include companies that offer core blockchain development, as well as those that provide blockchain software development. Determine what type of development you need before proceeding to the next points of our guide.

What Type of Solution/Product Do You Need?

Next, you need to define what type of solution or product do you need from the blockchain development company. Some developers provide all solutions and products but most of them specialize in one or few of blockchain solutions. On our list, you will find candidates from both categories so once you outline your needs it will be easier to shortlist them.

Does the Company Have Experience in Your Niche?

Many blockchain companies specialize in specific areas such as real estate, government, or healthcare. You should shortlist the companies that are familiar with your niche and, better yet, have worked on projects similar to yours. This means you won’t have to spend hours explaining what you want and, the chances are, you will be satisfied with the end product.

What’s Your Budget?

Your budget plays a very important role in choosing the best company for blockchain development. Namely, if you are on a tight budget it might be a better option to opt for one of the blockchain companies that offer a fixed price model which will align with your business model. The disadvantage here is that you will be limited in terms of the number of changes the developer will be willing to make for the fixed price. An alternative is the Agile Fixed Price model which enables greater flexibility than the Fixed Price model. On our list, you can find great companies which utilize Agile management which allows for changes along the way.