How much does it cost to implement blockchain?

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Blockchain is a highly adopted and trending technology about which people are running crazy.Blockchain refers to a decentralized network which is also known generally as the ‘modern internet’ among people.When it comes to developing blockchain based solutions (e.g. Blockchain based platforms, Cryptocurrencies, Crypto Trading Platforms, etc.), the most commonly asked question is usually how much does it cost to implement  and how to acquire the sufficient human resources to build such blockchain solutions

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Very much like in the sense of mobile application development services, the blockchain app development cost is also dependent on the application complexity, company size, objective, etc.

NOW, HOW MUCH DOES IT COST TO CREATE A BLOCKCHAIN BASED APPLICATIONS

Cost of blockchain implementation is spent on multiple activities or phases of the project including:

  • Design: System Blueprint, user interface/experience design including wireframes, high-fidelity designs with a prototype and low-fidelity designs with app flow.
  • Development: Coding and Testing
  • Deployment: Deployment on Cloud Platforms, Delivery and DevOps
  • Migration: Moving the existing solution to the Blockchain platform
  • Maintenance: Maintaining new updates and testing that app runs smoothly on every OS release
  • Upgrade: New features, Changes in Smart Contracts
  • Third-Party Tools: Hosting, Storage, Notification System, Collaboration

Blockchain platforms and frameworks also contribute to the overall cost of app development. You can also include the cost of integrating some third party tools for blockchain app development in your budget. The major tools worth consideration-

    • Amazon Web service– this tool offers cloud computing, storage, and delivery services. 
    • Bug tracking tools-some of the bug tracking tools will allow you to report and remove the live bugs
    • App monitoring service- applications like uptime robot, etc will allow you to send real-time notifications for the downtime. 
    • Notification services- notification service tools like Kumulos, will cost you $10 to $50.
  • Analytics with mixpanel-this tool will allow you to conduct application data analysis, funnel reporting, insight generation, and many more.

 

The bottom line

The standard cost to develop or implement blockchain application technologies is derived from various sources like open source tools, web development team, analytical verticals, feature integration, and many more. All these factors provide an oriented representation of the blockchain app development company range. The cost of setting any blockchain application requires a strong project estimation about its cost to develop or implement.

 

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