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Best Blockchain Development Solutions

Blockchain Development Solutions

In the world of blockchain and cryptocurrency, there is such a thing as the blockchain scalability trilemma. This is a theorem formulated by Vitaly Buterin that in distributed decentralized ecosystems, one cannot simultaneously achieve the maximum in terms of scalability, security, and decentralization. Therefore, when launching your blockchain project, you must choose which of these parameters is more essential and develop your future platform or application based on this choice.

  • Scalability – the speed of work with increasing load on the system.
  • Decentralization – all participants have equal access, rights, and opportunities.
  • Security – protection against hacking, data theft, DDoS attacks, etc.

This also means that there are no one-size-fits-all blockchain solutions on the market. Instead, we have many blockchain chains and platforms with their features, advantages, and disadvantages. For example, Bitcoin is the most secure chain for relatively simple financial applications. Simple, since the Bitcoin network does not support smart contracts that allow you to create more or less complex solutions.

Ethereum supports smart contracts. It is the most popular network for running and deploying smart contracts and decentralized applications, making it the most secure (more participants → more security). But at the same time, Ethereum has low speed and very high fees (at least until the network switches to Ethereum 2.0), so many startups are looking for an alternative to it and use the Polkadot, Solana, or Binance Smart Chain blockchains.

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How To Choose A Blockchain Developer?

As you probably already understood, unlike other popular advanced modern technologies such as virtual and augmented reality, the practical implementation of blockchain-based solutions (Dapps, NFT, DeFi lending platform development) requires the involvement of highly qualified specialists. The situation becomes especially tricky if you need to create a complex solution that will work with multiple databases and types of participants (for example, cryptocurrency exchanges, marketplaces, or supply chain platforms).

To find a competent programmer with sufficient qualifications in this area, many business owners can spend months looking for just one employee. Therefore, in this case, the best solution is to outsource development to a development company specializing in blockchain.

The search for such a company will be discussed in this section. We will tell you where to look for such companies, what to look for when evaluating them, and how to speed up the process of finding the best blockchain development company in just a few simple steps.

Define The Concept And Goals Of The Project

So, the first thing you need to do when looking for the best blockchain development team decides on your business idea. You need to carefully work out the concept of your project and determine its goals and objectives. Understand the target niche and study competitors (at least superficially). The clearer your understanding of your idea, the easier it will be to find a team that implements it.

For example, if you intend to launch your own NFT platform, you need a blockchain marketplace development company that understands how to work with non-fungible token technology. If it will be a website tailored for a specific industry (sports, music, real estate, art, etc.), it is also desirable to have experience in this area.

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