With the Web 3.0 and the hype generated around NFTs, surely blockchain technology is gaining popularity on a fast pace. Besides financial transactions, we’re beginning to see how blockchain is now advocated for a variety of corporate uses, making this presumably utopian technology touch upon many aspects of the way business operate.
From increased security to faster information sharing while maintaining decentralization, blockchain is truly the future, but many organization leaders don’t know where to start when it comes to its implementation.
The first course of action should be to seek out a blockchain development company in order to get insight and access to professional developers. However, not every blockchain company or startup is going to be able to give you what you need and on an agreeable budget. That’s why it’s vital to do your research on the best blockchain development companies out there before making an investment.
In this article, we’ll break down what blockchain development and web 3.0 development actually are, providing you with our take on Top Ten Blockchain Development companies in Europe that are becoming major players in the world of blockchain technology.
What is Blockchain Development?
Blockchain is a decentralized public network, an open market that does not comply to any governmental or private entity power, where both people and institutions can store and securely transfer information and currency in seconds.
Core developers and app developers are the two primary sorts of developers in this technology. The developer builds the code for a blockchain client in core development. Blockchain clients are written in low-level computer languages. App developers are a bit different.
Blockchain clients include the Bitcoin blockchain, the Binance smart chain, and the Ethereum blockchain.
Most blockchain developers, on the other hand, work on developing web and mobile apps, and this is what most people think of when they hear the term “blockchain development.” Instead of constructing an entire blockchain from scratch, they create apps on top of a blockchain client in blockchain app development.
Essentially, blockchain development involves the work of core developers and app developers to create blockchain web and mobile apps. Organizations in a wide range of niches can benefit from seeking out the services of blockchain developers.
Why consider Blockchain Development for your business?
There are numerous things to consider when integrating blockchain into your business, providing new blockchain-based goods to your consumers, or investing in blockchain application development.
This cutting-edge technology has the potential to have a significant influence on how your company runs. Specifically, blockchain technology can be used to construct everything from digital wallets to more user-friendly applications and more effective advertising.
By incorporating blockchain technology into their companies, businesses will have access to automated execution, digital asset management, improved business networks, and greater security.
Let’s break down the benefits a bit more.
To begin with, organizations can benefit from the decentralization of blockchain technology. Blockchain eliminates the need for a middleman. This means there will be no government money and no third-party verification. Furthermore, transactions are distributed among thousands, if not millions, of machines, with only your blockchain network having access to them.
Basically, data is never lost as a result of this decentralization. In addition, blockchain technology is unchangeable. A blockchain’s data structure is based on an append-only format. Data that has already been recorded cannot be changed or deleted by ill-intentioned persons. This, of course, adds an added layer of protection.
Improved security is probably one of the most significant advantages of blockchain for enterprises. To keep everything extra secure, blockchain uses cryptography to encrypt the data stored within blocks. Blocks can only be added to the chain after undergoing a verification process that necessitates agreement among ledger participants. Another advantage of blockchain technology is more transparency. Everyone in the network has access to the same documentation because blockchain is a distributed ledger. You don’t have a dozen unique copies of sensitive information because all of these digital copies are linked to the same digital information.
What should you look for in a blockchain development company?
The agency you decide to work with must be able to demonstrate good knowledge of most, if not all, of the programming languages utilized in blockchain development. Developing commercially effective blockchain technology, smart contracts, or complicated products necessitates knowledge of a number of unusual technologies. Your preferred blockchain development firm should have teams who are knowledgeable with blockchains, cryptocurrencies, EVM, distributed ledgers, consensus techniques, decentralized technologies, IoT, and cybersecurity.
A good blockchain development company will also have its thumb on the pulse of current trends. Today, people all around the world are actively experimenting with blockchain technologies in order to get the most out of them. That is why it is critical to have a skilled and dependable team of developers on board that are up to date on all blockchain industry developments. These advancements might be beneficial to your blockchain project. Ascertain that the organization is up to date on the current software development industry trends, and learn from them what tools are popular now for trend adoption. When it comes to business solutions, this is always crucial.
A competent blockchain development firm will also have contract terms that are compatible with your business strategy. If you are unable to pay pricey blockchain-based services owing to a restricted budget, you should request that your preferred blockchain provider create a contract tailored to your business model. Blockchain technology engineers will be better equipped to comprehend your preferences and design a tailored solution to match your business demands once you discuss your business goals and initial financial resources. If you are unable to pay for the full project, you can enter into an agreement with the firm in which you will be charged a defined proportion of the earnings. This implies you’ll split the earnings with the developer to cover the cost of the contract.
Check with the contractor to see what they know from the above and if there are any issues. This must be done because it has an impact on the end product’s functioning or safety. After you’ve established that your contractor has the bare minimum of expertise required to produce a commercial blockchain product, you’ll need to ask yourself a second, equally essential question: Does the developer have prior experience developing the sort of blockchain product you require? If the answer is no, you should certainly avoid becoming affiliated with this firm, as you may come to regret it later.
What are the approximate costs of blockchain development?
Because blockchain is a feature-dependent technology, the ultimate pricing will vary depending on the project specifications. One can claim that the cost of developing a blockchain app ranges from $5,000 to $200,000. However, there are several things to consider. One thing to think about is project management. The cost of project management is also included in the creation of a blockchain app. A corporation can, for example, utilize an agile approach to hold regular meetings or daily scrums, track the current sprint, testing, deadline, defects, and deliverables, and so on. Confluence, Trello, and Jira are some of the technologies they utilize to help with the agile process. The cost of such software tools is also factored into the cost of implementing blockchain.
Basically, there are a few things outside of just paying a developer that will contribute to the cost of blockchain technology. Consulting, designing, development, quality assurance, deployment, maintenance, and management will all be factors that cost money in a blockchain project. Migration and upgrades, in addition to third-party tools, will also contribute to the cost of blockchain development. Because the cost of blockchain development can be a little steep, it’s vital to invest in the workforce of a top-notch blockchain development company.
Top 10 Blockchain Development Companies in Europe
RebelDot is a UX and UI design and software development firm situated in Cluj-Napoca, Romania, that was created in 2008. Their team of 46 specialists, situated in Romania and Denmark, offers a comprehensive spectrum of online and mobile app development services for startups and enterprise-level businesses, all of which are based on blockchain technology. Lautec, Samba Communications, Riggsafe, and Pivot Sport are some of RebelDot’s more well-known clients.
Eligma is a global platform that enables smooth and safe crypto payments in both physical and virtual establishments. Eligma uses blockchain technology to create crypto payment network communication standards. Its goal is to make cryptocurrency a part of everyday life and trade. Eligma was founded in 2017 with the goal of improving the way people purchase and pay today.
They chose to seek the support of future users through a public crowd sale at the beginning of 2018, supported by corporate investors and almost 1,500 Eligma believers, after receiving stamps of approval from numerous renowned businesspeople and entrepreneurs who eventually became Eligma’s advisers. Eligma created a crypto payment infrastructure that allows retailers to accept cryptocurrency in exchange for their local currency, as well as a client app that allows for immediate cryptocurrency payments.
Zfort Group (Ukraine)
The Zfort Group offers a diverse development portfolio that focuses on challenging technologies like AI and Blockchain. The company’s headquarters are in Ukraine, but it also has offices in the United States, Canada, the United Kingdom, Australia, Germany, and Israel. On projects of any scale, a big number of highly qualified programmers work. Small individual websites to huge ERP systems and decentralized trading platforms are among them. There are projects for decentralized exchanges, NFT minting, crypto bots creation, cryptocurrency development and ICO, and many other smart contract projects in stock.
This firm can fit those who require a blockchain-based project or people who want to incorporate a blockchain to their project because the development team can perform projects in any way. For example, if you currently have a product but want to add the ability to generate NTF tokens from it, Zfort Group can assist you.
Ledger uses a patented technology to offer security and infrastructure solutions for cryptocurrencies and blockchain applications for consumers and businesses. With over 1,000,000 units sold in over 165 countries since its launch in 2014, Ledger has swiftly established itself as a worldwide leader in the hardware security device sector.
Ledger announced the Vault, a fully managed SaaS solution for organizations and corporations that addresses the requirement to preserve a huge number of numerous cryptocurrencies while minimizing both IT and physical attack threats. The firm also has a presence in the industrial IoT industry, where it uses its secure hardware technology to connect sensors and machinery to smart contracts or blockchain-based assets. Ledger is based in Paris, with headquarters in San Francisco and a production site in Vierzon.
Intellectsoft is a multinational firm with operations all over the world that has its beginnings in Ukraine. Excellent programmers who work with emerging technologies are employed by the organization. Innovations, blockchain technology, AI, and other technologies are always being worked on. In the public sphere, the corporation consistently ranks top in lists of the finest companies, with revenues increasing year after year.
In terms of technology, the company works on mobile, web, and application development, as well as eCommerce solutions for major businesses and blockchain systems. Intellectsoft was created in 2007 and has a long list of satisfied customers, so we wouldn’t consider them “new” in the realm of blockchain technology in Europe. However, this company has been steadily gaining an excellent reputation when it comes to blockchain development.
Aave (from the Finnish word “ghost”) is a non-custodial open-source Ethereum protocol for decentralized lending and borrowing. The protocol issues ERC20-compliant aTokens to lenders in a 1:1 ratio to the assets they supply. Interest begins compounding immediately, as seen by a constant increase in the number of aTokens held by the lender. Separate from the aTokens that represent the underlying principle, this interest stream may be routed to any address.
Aave offers flash loans, which are trustless, uncollateralized loans that must be borrowed and repaid in the same transaction. This functionality, which is aimed at developers, might lead to new DeFi applications. As blockchain-based transactions, lending, and borrowing grow increasingly commonplace in the coming years, this is a startup to keep an eye on.
OTR (Eastern Europe)
OTR is a collection of development firms based in Eastern Europe, the European Union, and the United Kingdom that was founded in 2000. While its headquarters are in the United Kingdom, they have clients all around Europe. The major focus is on the financial and banking sectors, where blockchain technology is already well-established. More than 2,400 full-time staff work on front-end and back-end development projects using Java, PHP,.Net, React, Vue, and Angular technologies.
As with the previous ones, blockchain technology is not the primary corporate technology. They did, however, integrate it into banking systems and financial initiatives for mutual settlements and digital banking with great success.
Blaize is another firm on our list that is primarily focused on blockchain and bases all of its operations on it. However, they also offer additional development options, allowing the organization to work on any project. Decentralization is their major emphasis, and they have a lot of expertise with decentralized banking, decentralized autonomous platforms, decentralized exchanges, and other things.
Bitcoin, Ethereum, Tezos, EOS, Substrate, Near, Hyperledger, Tendermint, Solana, Corda, TRON, Dash, PIVX, and others are among the technologies they support. Despite the fact that this firm is still relatively new, having been founded in 2016, it is creating a lot of interest in the blockchain development community.
WISeKey is a worldwide cybersecurity firm that uses a proprietary technique to establish large-scale digital identification ecosystems. For the Internet of Things, Blockchain, and Artificial Intelligence, WISeKey’s Swiss-based cryptographic Root of Trust (“RoT”) delivers safe authentication and identity in both physical and virtual contexts. The WISeKey RoT acts as a shared trust anchor, ensuring the integrity of online transactions between objects and between humans. Their vertically integrated trusted platform combines a variety of chips with software applications to meet the security and business objectives of their customers.
WISeKey’s software contains company-developed proprietary technology including RoT and Public Key Infrastructure (“PKI”). These technologies are available as stand-alone solutions as well as part of the completely integrated new Vertical Trusted Platform, which allows WISeKey customersto manage their digital identity, information, and communications in a smooth process backed by complementing technology. They give their customers the ability to adapt to a shifting device environment without jeopardizing their digital security. The connectedness of digital gadgets was triggered by the fast expansion and spread of internet-based devices, as well as people’s reliance on them for personal and business requirements.
OpenLedger is a startup that produces its own blockchain apps on popular blockchain platforms, in addition to providing blockchain technology and development services. As a result, it has a lot of expertise with blockchain technology. The firm was established in 2014 and has a large number of satisfied customers.
This company can create decentralized projects on current blockchains or create totally new blockchains using OpenLedger. As a result, I would suggest this company’s services to anyone looking for basic blockchain solutions.
At RebelDot we’re constantly on the look for talented, passionate and beyond all, nice people. Should you consider developing or even just starting a career in Blockchain Development, our team is excited to get to know you and build amazing digital products with you.
If we sound like a fit for you, consider visiting our careers page to learn more about the culture, growth opportunities and specific vacancies we have available.