Blockchain application development:
● Blockchain programming
● Smart contracts development
● Coins and token development
● Blockchain Consulting
● Cost of Blockchain projects
What is Blockchain?
Blockchain is a revolutionary mechanism for storing and exchanging information in the form of linear chains of blocks of transactions. The blocks are used in a centralized database, which is modified simultaneously for each new transaction.
Simply put, Blockchain is a database that operates concurrently on thousands of computers (nodes) such that each of them only holds the most important information. Decentralization is accomplished by this mechanism, that is, there is no “core server,” like we used to see.
The key idea is the openness of all operations carried out (each individual will see any operation at any time) and the impossibility of adjusting them for previous times. Each block in this database includes information about the previous block. It is also difficult to modify the information in a different block “retroactively” so this would affect all existing blocks before the very first one.
At the point of its growth, Blockchain technology was used solely for cryptocurrencies, and certain banking systems were introduced a little later. Today, though, the latest framework in its creation penetrates our everyday lives very profoundly. Platforms for the creation of business apps based on Blockchain technologies can also monitor copyright compliance, track the manufacturing processes of a given product in line with the specified requirements, not to mention all financial transactions.
Development of Smart Contracts
Parties without human intervention and appraisal use Smart Contracts for these kinds of operations where the execution of commitments can be automated. The Smart Contract independently tracks when those terms of the contract have been met in full. Around the same time, thanks to the Blockchain mechanism itself, the code is fully shielded from any intervention by third parties. In other words, no cracker would be able to alter the lines of code – the terms of a deal signed between two (or more) individuals.
Smart Contracts were first introduced technically in 2013 to the Ethereum project, which is now most often used by ICOs: on the basis of a written memorandum (white paper), investors are channeling funds to the account of the corresponding Smart Contract in return for capital that plays the part of the shares of this start-up.
We are implementing Smart Contracts for the Ethereum blockchain and others.
Release of the Own Cryptocurrency
By using Blockchain technologies, you can build your own cryptocurrency (coin) analogous to Bitcoin: the back codes are publicly accessible. Around the same time, this involves the exemplary integrity of the developers in order not only to be able to do it well but also to ensure safety and security.
Ethereum tokens are just digital objects that are created on the top of the Ethereum blockchain. They are using the current Ethereum architecture instead of pushing developers to build a brand new blockchain.
We take the current back code to build our cryptocurrency, make the requisite improvements to it, and compile it. As a law, the production process consists of the following stages:
● Compilation of core coin + wallet for Windows and Linux
● Deployment of 2 main nodes
● Building of block explorer and mining pool
● Compilation of mobile wallets (iOS and Android)
Unless major improvements to the center are required, the production of a coin will take approximately one month and costs up to USD 20,000. Integration of online providers and wallets is being built separately.
The cost of Blockchain projects
We are also frequently asked how much it would cost to create a project using Blockchain, though, as a rule, the whole overview of the project fits in a few lines. Of course, on the basis of very little detail, it is difficult to estimate the cost of developing a project. At the same time, the estimated cost benchmarks for Blockchain ventures are as follows:
● Developing technical requirements from USD 2,000 to USD 4,000;
● developing a web wallet from USD 15,000;
● developing and issuing coins from USD 20,000;
● developing a Smart Contract and Token issue from USD 3,000.
To calculate the exact cost of the project, we often recommend beginning with a clear list of specifications. As part of the criteria list, you can measure the number of hours to be spent on project construction and measure the overall cost by multiplying the number of hours by their cost (100 USD per hour).