5 Tips to Select the Right Blockchain Development Partner - PowerPoint PPT Presentation

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5 Tips to Select the Right Blockchain Development Partner

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Blockchain has ‘connective intelligence’ that weaves the entire world without an intermediate fabric. We have seen blockchain’s meteoric rise from bitcoin enabler to a purveyor of trust. This highly promising technology has captured the attention of many innovative startups and legacy organizations, Quick tips to decide on the right Blockchain development company to help you with digital transformation. – PowerPoint PPT presentation

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Title: 5 Tips to Select the Right Blockchain Development Partner


1
5 Tips to Select the Right Blockchain Development
Partner
Blockchain has connective intelligence that
weaves the entire world without an intermediate
fabric. We have seen blockchains meteoric rise
from bitcoin enabler to a purveyor of trust.
This highly promising technology has captured the
attention of many innovative startups and legacy
organizations. Both global market leaders and
new startups leave no stone unturned to implement
blockchain-powered solutions. However, many
organizations lack the ability to do so. Lets
say, you have a blockchain project in mind. You
have outlined the complete product roadmap for
development. However, moving into development can
be challenging on various levels. As an early
adopter, you may find some hurdles in
implementing blockchain solutions. Perhaps your
tech-team lacks the subject matter experience or,
they may lack the bandwidth or internal
resources to build it. Whatever the reason, many
enterprises are forging partnerships with
technology-focused companies for blockchain
solution and services. One reason, of course, is
blockchains growing popularity.
2
  • They are competing for professional blockchain
    development service providers. Finding the right
    blockchain development partner can be costly,
    time -consuming and frustrating. After all, it
    is difficult to evaluate the relative merits of
    various blockchain development companies. The
    stakes are high, and one wrong choice can quickly
    derail your project.
  • It is essential to find the right people with
    precise skill -sets that matches your
    organization needs and meets your blockchain
    project objectives.
  • The company you partner with must demonstrate
    solid competency in most technical languages
    such as Java, C, Solidity, Python, and
    Hyperledger Fabric. They must have the ability
    to create minimum viable blockchains, smart
    contracts, or related products.
  • Lack of expertise in any one of these can affect
    the functionality or security of your product.
  • To begin, here are some quick tips that can help
    you decide what a great blockchain development
    partner would be like
  • Technical Skills and Experience
  • It is crucial to validate technical skills and
    experience of a blockchain development company.
    Here's what you should consider
  • Check their experiences in developing blockchain
    projects
  • Ask about their coding standards and good
    practices
  • Assess the technical expertise and skills of
    blockchain architects of the company
  • Review similar work that they've done for other
    customers
  • Software development projects are complex. Things
    are likely to get even more complicated with
    blockchain technology. Thats why its important
    to pick a firm having a proven track record of
    developing blockchain products.

3
  • methodology, your partner should also use the
    same methodology. This brings agility to quickly
    pivot if things dont go according to plan.
  • Hire someone who can work at breakneck speeds and
    on a schedule, so you dont suffer from missed
    deadlines, frustrations and unpleasantness.
  • Availability and Commitment
  • It is very rare that your product development
    roadmap and the expected development time will
    be 100 aligned.
  • Projects often veer off because of unforeseen
    technical problems, functional dependency, or
    the lack of coordination among cross-functional
    teams. Before you hire anyone, ensure that they
    understand your product requirements clearly and
    must adapt to the solution they develop.
  • Get a clear idea on the key areas of development
    like
  • Ask about their project management methodologies
  • Talk about how they will handle changes and
    enhancements
  • Discuss about their approach on the crises that
    may occur
  • Confer about support and maintenance they provide
    post product launch
  • Finally, if you dont want to be left scrambling
    after the product goes live, hire someone that
    you can retain for bug fixes, regular maintenance
    and upgrades.
  • Dedicated Support Services

4
  • Mainly, there are two types of pricing model
  • Variable Rate Pricing Model
  • Fixed Rate Pricing Model
  • You can opt for variable pricing model, if you
    need additional or customized services. However,
    if you are tight on your budget, then the fixed
    price model might be the best choice for you.
    With this model, you pay a fixed price for your
    product development. The 'Fixed Price Model'
    also called the 'Agile Fixed Price Model' allows
    more flexibility during development. This is
    because the developer utilizes the agile
    development methodology, which inherently allows
    for changes along product development.
  • Dedicated Team
  • If your project demands an ongoing availability
    of developers, or if you have multiple projects,
    this may be the most suitable model for you.
    Under the Dedicated Team model, the development
    company assigns a dedicated team that works
    solely on the unique requirements of your
    project.
  • The advantages of this model are
  • Extension to your existing inhouse IT or
    development team
  • Flexible interaction during changes of
    requirements
  • Fast-Paced Development Cycle
  • On a closing note, it is very important to ensure
    that the vision of partnering companies is
    aligned. It is crucial to seek a company that
    understa nds your needs and relentlessly pursues
    the achievement of your objectives. If you are on
    the lookout for professionals with real, proven
    experience in blockchain products development,
    call us on 1-609-245- 0971 or email us on
    inquiry_at_cygnetinfotech.com.
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