How much will a blockchain cost?
The cost to build a blockchain project depends on various factors, including features, complexity, type of blockchain, a blockchain platform, and other technology stacks.
The 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 the app runs smoothly on every OS release
Upgrade
New features, Changes in Smart Contracts
Third-Party Tools
Hosting, Storage, Notification System, Collaboration
The complexity of a Blockchain project
A developer has to pay a certain fee to deploy a contract on the blockchain. The cost of Blockchain implementation also depends on the complexity of your project.
It’s classified into three categories based on their complexity:
Low Complexity Blockchain Apps
- Basic Smart Contract Development App
- Payment applications built with existing cryptocurrencies
Medium complexity blockchain apps
- Semi-decentralized apps
- dApps built on the blockchain platforms like Ethereum, Hyperledger Fabric/Sawtooth, EOS, and more
High complexity blockchain apps
- Building a blockchain platform from scratch
- Building a complete decentralized network
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There are three ways to get an app built and each will cost differently with some benefits and limitations:
- Startup — Building a blockchain app with an in-house team
Here you should agree on payment with your partners.
2. Outsourcing — Hiring an agency to build a blockchain app
The advantage of outsourcing is no management efforts for recruitment, administration, training, or other HR activities are required by the client.
3. Outstaffing — Hiring developer for blockchain app where Crypton Outstaffing shares our best personnel for the duration of your project.
The advantage of outsourcing is no management efforts for recruitment, administration, training, or other HR activities are required by the client.
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