If you’re reading this, you probably have decided to leverage the benefits of blockchain technology for the purpose of adding value to business. And, now are facing the dilemma of where to start from. Blockchain is being used globally for advancements and every other brand is looking to capture in on the market. The best blockchain solutions are being searched for and companies are anxiously trying to maximize their potential by securing this new technology in their operations.
The first question that every business must decide on when opting for blockchain is whether to hire an established blockchain development company or freelance blockchain developers. Of course, there is a third option which is to hire a resource on permanent basis that knows the skills needed. This might not be the best blockchain solution for a temporary position. Hiring time and costs almost always come out more than the other two options. The question isn’t as simple as it may seem; making the right choice requires looking at contractual models offered, core competencies and services provided. Here is a comprehensive guide on hiring the right blockchain development company or freelance blockchain developers.
Freelance Blockchain Developers
A freelance blockchain developer works outside the typical 9-to-5 realm. Mostly, these developers are self-employed, meaning they pursue a career on a contractual basis. Let’s discuss the benefits and drawbacks of hiring a blockchain developer.
Advantages of Hiring a Blockchain Developer
Freelance Blockchain developers often have great work experience in different fields. They deliver the work faster as they dedicate all their time to a single project. Moreover, the freelance economy is very competitive; this causes lower rates among freelancers, helping you to hire at a lesser cost. If your project size is small or medium, hiring a blockchain developer as a freelancer will be the right decision.
Disadvantages of Hiring a Blockchain Developer
Hiring a freelance blockchain developer is a big risk for companies, at first. Freelancers usually showcase their all-time best work in their portfolio instead of their most recent work. This makes it hard for the companies to analyze their capabilities of producing excellent work at present. These developers may seem outstanding during the selection process but then fail to deliver what they promise. Also, freelancers take no responsibility after the deployment; you need to employ more people for the support and maintenance of the project. If you believe you can manage that, then landing a blockchain development freelance contract will be a good budget option for you.
What is The Cost of Hiring a Blockchain Developer?
According to the data from Upwork.com, a freelance developer charges $11-125 per hour. This means it will cost you around $2500 for an intermediate and $30,000 for an expert, with 8 hours per workday. This is a useful option if the organization already has a supporting team. Resources such as UX/UI designers, requirement analysis, content writers, and Quality assurance are needed.
Blockchain Development Firm
Hiring a Blockchain company comes with plenty of extra perks. It provides a full-fledged blockchain solution, from consultation to maintenance and support of the project. On the contrary, freelance blockchain developers will be responsible for managing only the development and deployment of the project. Once you provide the firm with all your design and software requirements, a team manager will look after all the processes inside the team. A blockchain development company will be able to grasp the accountability of your business requirements, due to its extensive experience in handling small to big size projects. These companies also help in cutting down costs. So you don’t have to pay for administrative, electricity, and office maintenance expenses.
How Much Does It Cost to Hire an Enterprise Blockchain Development Service Provider?
The complete cost depends on the nature, size, and complexity of the solution. The average cost range, provided by a specialized development company, is $5,000 to $150,000. This covers the cost of end to end services involving UI/ UX design, development, testing, deployment, and support. Experts recommend consulting an experienced company over freelance blockchain developers as they comprise of well-structured processes, optimized framework, and a project manager who ensures timely delivery of the tasks.
Blockchain Development Company Versus Freelance Blockchain Developers
Expertise to Search in A Blockchain Development Firm or Developer
Understanding the skill set of a good blockchain developer will help you to distinguish between who can deliver and who will only disappoint.
- Expert in important concepts such as OOP, data structures, database, multithreading, and socket programming.
- Solid competency in blockchain development technologies, including:
- Blockchains frameworks (Hyperledger Fabric, EoS, Corda, and Ethereum)
- The ethereum virtual machine
- Distributed ledger
- Smart contracts
- P2P networks
- Data security
- Consensus methods
- Good knowledge of deployment
In a nutshell, an experienced blockchain developer is required to develop a sustainable solution as no ordinary software developer can do it. Along with examining a rich experience and broad expertise, it is essential to make sure that the firm or developer has an extensive portfolio. Ask them if they delivered an end-to-end enterprise-grade blockchain solution in the past or not.
Best Blockchain Development Companies
Reactive Space is based in Pakistan with another office located in the United Arab Emirates. The technological solution provider offers services in Hyperledger Fabric development, Corda development, EoS development, Ethereum Development, Virtual Reality, Augmented Reality, Data Science, Artificial Intelligence and more. The company has a proven work record in solving various existing industrial solutions using blockchain. Their outstanding services and customized solutions include consultation, UI/UX design, development, testing, deployment, and support. Their mission is to build purposeful projects that will solve real industry problems.
Global Green Tech Solution (GGTS), is an Enterprise Blockchain Solution Provider serving top-notch clients globally in various industries including FinTech, government, waste management, retail, and many more. Operational for more than two decades, they have hands-on experience in building public and private blockchain using underpinning technologies like Ethereum and Hyperledger. GGTS works with start-ups and enterprises helping them to reshape their businesses for the digital era. Their main objective is to help global corporations create decentralized economies where they can interact with their clients in unimaginable ways.
Where to Find Freelance Blockchain Developers?
The best and most credible source to find freelancers experienced in Blockchain would be online freelancing portals such as Upwork & Freelancer. Although there are many freelancing portals in the world, these two are by far the best and the most credible out of the bunch. There is no way to know for sure who will be a good fit as a resource over there unless you ask and verify it yourself. Point is, that it takes a lot of effort to get the right resource but once you do find the best fit, it usually works out in the long run for multiple projects as well.
One such freelancer who has worked with us on multiple occasions is someone we can definitely vouch for so if hiring a freelancer is your thing, we are leaving his link right here: Hassan Abbas. As far as hiring a separate resource goes, it can get tricky which is why we wont recommend doing that for temporary projects. For a long term solution, it might be the way to go but the pros and cons of that debate is a different matter.
According to Juniper Research, 55% of big corporations are leveraging blockchain to make a useful impact in their business processes. Blockchain experts are rare and highly desired due to the growing need of blockchain integration in the business processes. To gain a competitive edge, it is essential to employ the right talent which will deliver what was promised. However, the final decision is always yours, whether to appoint a freelancer or a company to develop your blockchain solution. Have a project in mind? . Click right here for a free consultation.