Recent years have witnessed the growth of several new technologies across the globe, out of which, blockchain is a pivotal one. It wouldn’t be wrong to assume that it is gradually becoming the mainstay and may even overtake other existing public ledgers in no time. According to a report by PwC, the technology has immense potential to improve global GDP by more than $900 billion in the next 8 years. Several industries, including manufacturing, food and agriculture, healthcare, financial services providers, etc. are leveraging this technology to increase their market growth. It is predicted that in the next 6 years, blockchain in healthcare may reach the value of $1189.8 million and $1.48 billion in the agriculture and food sector by as soon as 2026. Top blockchain development companies in 2023 are focusing on Decentralized Applications (dApps), Smart Contracts, DeFi (Decentralized Finance), Scalability Solutions, Privacy and Confidentiality, Tokenization and NFTs.
While numerous tech-savvy enterprises are keen to invest in this technology that apparently can take their business to an all-new level, others still do not recognize its unmatched potential. They are probably not even well-acquainted with blockchain development and its benefits. So, before we get down to the list of top blockchain development companies in 2023, let us first explain what blockchain is and how it can benefit your business in the long run. Scroll on!
In the simplest terms, a blockchain is a decentralized database of financial records that does not require any third-party security system to guarantee safe transactions. The main difference between a traditional database and a blockchain is the latter can store financial information in the form of blocks that are strung together to form a cryptographic chain. In the traditional database system, information is stored in the form of centralized tables that can easily be tapped into and exploited. Whereas, in blockchain development, the database is decentralized, thus giving no scope for any inconsistency. Each participant in the blockchain has a record of the data, which gives no one the scope to make changes in the timeline. Even if there is any change made by a malicious participant, the blockchain will immediately verify the same with the other records set in the timeline and restore it to the correct form. Hence, unlike traditional databases, blockchain is a more secure way of recording and storing financial information in a world full of malicious hackers, who do not leave a single chance to exploit critical financial information.
As the term implies, the companies or agencies concerned with the development of blockchains are known as blockchain developers. However, the work is not as easy as it sounds. These enterprises deal with a multitude of advanced tools and systems to create impermeable blocks that may store critical financial data.
There are two main types of blockchain developers – the core developers and the blockchain software developers. The core developers can also be referred to as blockchain architects, as they are concerned with the architecture of the system, its design, and security conventions. On the other hand, blockchain software developers are groups of professionals developing advanced blockchain applications using high-end technologies, like Truffle, Solidity, etc. Well, there are some developers who also use technologies like Java, React Native, etc., to create web or mobile-like applications in the blockchain.
Now that you are aware of the basics of blockchain development, let us give you a thorough idea of the top blockchain development companies in 2023.
|1. HashCash Consultants|
|5. L&T Infotech|
|6. Alpha Point|
|9. Antier Solutions|
|11. Rather Labs|
HashCash Consultants is one of the top blockchain development companies based in a US. The products authorize businesses to trade or move assets, and make real-time cross-country payments for remittances, Payment Processing, Trade Finance, etc. HashCash Consultants has launched its crypto exchange platform, PayBito, and a crypto payment processor, BillBitcoins. The blockchain development company offers white label crypto exchange, crypto payment processor solutions, ICO Services, and customized user applications. HashCash drives technological advancements through its investment arms, Satoshi Angels, and Blockchain 101 Programs. The metaverse company has offered white label blockchain solutions to large enterprises in over twenty-six countries. The company has been placed on top of the list as the best blockchain development company in San Francisco. Even during the global recession, the company has announced its plans of hiring over a hundred employees across its development centers in the Middle East and India. The company has also announced its plan to build a HashCash Park in Bengal Silicon Valley, Kolkata. The blockchain development company is globally recognized for its IoT, AI, and Big Data solutions, through its products, platforms, and services. HashCash provides innovative solutions and strategies to address difficult issues, for its global client base.
Infosys, the world-renowned MNC, started its journey in Pune, Maharashtra, India, with a seed capital of $250 USD in 1981. Its revenues are currently worth $16 Billion (2022). Infosys is also among the leading players in the blockchain. Infosys blockchain services are disrupting industries around the world. Their list of clients includes diverse industries such as Supply Chain, Government, Insurance, Financial Services, Pharma, Communications, FMCG, Retail, etc.
On blockchain technology, CEO and MD Salil Parekh said that it “allows authenticated work to be done”. He said that Infosys is working with various companies and helping them transact between different countries and institutions.
“Infosys has witnessed the successful digital transformation of its clients. Interest in quantum and metaverse will increase over the next two to three years. We are already seeing many real-world applications of the metaverse, and blockchain is being used with the client. Fundamental technology is very good,” he added.
Being one of the leading leaders in technology, extended its services into Blockchain technology years ago. IBM has over 1600 experts working on blockchain, using insights gained from over 100+ real-world networks, helping clients with the three core design points: governance, business value, and technology. Industry leaders are using specialized applications of IBM blockchains to reduce friction, enhance trust, and unlock new value, in industries and across the world. IBM’s Blockchain services are pretty popular across industries such as Supply Chain, Health Care, Government, Retail, Media & Advertising, Oil and Gas, Telecommunications, Manufacturing, Insurance, and Financial Services.
ConsenSys is a leading Ethereum software company. They empower developers, enterprises, and individuals around the world to create next-generation applications, deploy cutting-edge financial infrastructure, and access a decentralized network. ConsenSys suite of products, comprised of Infura, Quorum, Truffle, Codefi, MetaMask, and Diligence, serves millions of users, supports billions of blockchain-based queries for our customers, and has processed billions of dollars of digital assets. Ethereum is the largest programmable blockchain in the world, leading the way in enterprise adoption, developer communities, and Defi businesses. On this trusted, open-source foundation, they are building the digital economy of tomorrow.
In August 2020, ConsenSys acquired Quorum from JPMorgan Chase & Co. Financial terms of the transaction were not disclosed. In November 2021, ConsenSys raised $200M from Animoca Brands, Coinbase Ventures, and HSBC, among others, for a valuation of $3.2B. In March 2022, ConsenSys raised $450 million in a new round led by ParaFi Capital, with Microsoft, SoftBank, and Temasek also joining as new investors in the company.
“We have arrived at a breakthrough in how we can build trust into all of our systems. We are at the beginning of the next revolution, the Trust Revolution.”
Founder of ConsenSys and Co-Founder of Ethereum
Being the industry leader L&T Infotech is featured as the top contender on the Everest Group PEAK matrix assessment of enterprise blockchain services for 2020. This firm’s blockchain solutions are powered by Microsoft Azure. Security and transparency have been the primary criteria for L&T Infotech from its inception in 1997.
Alongside this, L&T offers numerous other services in the area of digital innovation from its global locations. They help companies in industries such as payments, supply chain, ID management, insurance, and health care deploy tailored DLT solutions.
AlphaPoint is a white-label software company that powers cryptocurrency exchanges around the world. Through its secure, scalable, and configurable distributed ledger platform, AlphaPoint allows customers to launch and run markets, and digitize assets. This award-winning blockchain technology-providing company has helped more than 150 clients across 35 countries identify and execute their blockchain strategies since 2013.
This New York-based firm has developed financial technology solutions for institutional operators that enable access to digital assets and cryptocurrency worldwide. Their full suite of tools includes exchange technology (matching engines, order management systems), liquidity solutions (remarketers, market makers), custodial solutions (wallets, risk management), and yields (lending, staking, interest-bearing accounts).
LeewayHertz is a leading Web 3.0 & Blockchain Development Company that specializes in building world-class digital solutions & applications for enterprises and startups around the world.
They have a team of 250+ developers, designers, and full-stack innovators that have developed 100+ digital solutions. LeighwayHertz leverages emerging technologies such as Web 3.0, Blockchain, and Cloud, helping companies to roll out next-generation applications and solutions that are more open, effective, and secure. LeewayHertz is an echo of the motto: You Dream it: We Build it.
They are tech industry pioneers with deep expertise in how conceptualizing custom software development ideas and delivering an expected final product. Having worked with over 30+ Fortune 500 companies, building a wide range of solutions for the On-Demand, they have a spectacular portfolio of works that showcases their proficiency. Industries served by LeewayHertz are healthcare, government, media, insurance, education, identity management, supply chain, lending, and many others.
Peiko is the company that designs the most demanding and technically challenging web projects, where there are no ready-made solutions available in the market. This Ukraine-based company provides Blockchain solutions, web and mobile development, user interface/UX design, business analytics, and QA services to projects in different industries with various needs.
The major areas where Peiko is currently developing software solutions are Financial Technology, Banking, e-commerce, Healthcare, and Blockchain. However, they are always looking for new challenges.
Antier Solutions is a Blockchain Development Company providing various services such as Cryptocurrency Exchange & Wallet Development, P2P Lending Platform Development, ICO/STO/IDO, Coin Development, Crypto Bank Platform Development, DeFi Development, NFT Development, Metaverse Development, The DAO Development. Moreover, the company specializes in building customized blockchains according to the needs of businesses.
Antier’s cross-functional team supports you through each stage of your blockchain adoption journey: from a design-thinking-driven evaluation of your blockchain solutions across different dimensions, through piloting development, to deployment. Forward-thinking insights, rigorous research, and personalized consultancy help companies to identify and capitalize on opportunities to take advantage of an unprecedented decentralized ecosystem. Combined with innovative approaches and an unprecedented depth and breadth of expertise, Antier guides businesses into the next wave of digital businesses, fueling growth and driving deep, positive change.
SotaTek is a global software company based in Hanoi, Vietnam. This software company offers all kinds of full-stack public blockchain development, including custom blockchain solutions that fit your needs.
SotaTek is part of Sota Holdings, a worldwide Software Development as a Service (SDaaS) & Blockchain Development group with 8 offices in Vietnam, the United States, Australia, and Japan.
With 1000+ team members, this blockchain development company successfully completed 350+ projects globally and in 21 countries. Their clients are from various sectors such as Finance, Banking, Health Care, Retail, Real Estate, Logistics, Manufacturing, Education, Media & Entertainment.
Rather Labs is a blockchain technology hub based in Buenos Aires, Argentina. This blockchain development company was founded by industry experts who have huge expertise in finance, gaming, NFTs, token launch, DeFi, real estate, and much more.
Rather Labs has completed more than 30 blockchain projects worldwide and helped entrepreneurs, and funders design and build their blockchain & crypto products.
Interexy is a global blockchain development company. Headquartered in Miami and with a development center in Europe Interexy team has successfully designed and developed world-class custom blockchain solutions for their clients using the latest technologies and partnered with platforms, like Sandbox. Interexy developers are capable enough to develop decentralized platforms for NFTs, bridges, DEX, tokens, metaverse, and dApps. They work with top blockchains like BNB, Solana, Avalanche, Chainlink, and more. This company also helps mobile startups & enterprises design and develop high-quality market-winning mobile products | swift, Objective-C | Java, Kotlin | React Native, Flutter, Ionic | node.js, PHP, Ruby on Rails, and AWS.
INC4 is one of the top blockchain development companies in 2023 that is fully prepared to turn your ambitious ideas into reality. Their focus is on delivering customized outsourcing development services that encompass smart contracts, decentralized applications (dApps), decentralized finance (DeFi), wallets, and other blockchain products. With a team of 60+ professionals INC4 has successfully delivered 80+ projects since 2013.
Labrys is one of the top blockchain development companies in 2023 based in Brisbane, Australia. Their expertise lies in designing, developing, and launching products that leverage blockchain technology. However, their approach goes beyond simply building on the blockchain; they also develop the necessary supporting infrastructure to enable any Web 3.0 solution.
Labrys has successfully assisted various entities, including startups, enterprises, governments, and major players in the blockchain industry, in utilizing this technology to revolutionize their existing processes and become leaders in their respective fields.
To accomplish their goals, Labrys collaborates with some of the most talented individuals in the industry. Their team of expert engineers specializes in developing smart contracts, web and mobile applications, minimum viable products (MVPs), proofs of concept (POCs), tokens, non-fungible tokens (NFTs), layer-2 scaling solutions, wallet integrations, and more.
SoluLab is one of the leading Blockchain development companies. SoluLab also offers other software development services like mobile application development, customized software solutions, data analytics services, and software using technologies such as IoT, Machine Learning, Artificial Intelligence, Cloud, and more. SoluLab has worked with Fortune 500 companies and high-growth startups including Walt Disney, Goldman Sachs, Mercedez Benz, Cambridge University, Georgia Tech, and others. Led by leadership teams from Goldman Sachs and Citrix, SoluLab targets over 50% savings to customers through a modernized recruiting model, which increases recruiting speeds by 400% over other industry players.
Headquartered in California, Suffescom Solutions Pvt. Ltd. is a global IT service provider specializing in blockchain and metaverse development. They developed various Gaming & Mobile applications, NFT Marketplace, and Crypto application-based projects.
Suffescom has a strong client base, according to them, they have delivered over 50+ blockchain projects so far. They are working on more than 150 blockchain, crypto, and metaverse projects.
Blockchain also known as ‘Distributed Ledger Technology’ makes any digital asset transparent. Here, the data is stored in blocks and is unalterable once held. The blocks are secured through cryptographic hashing, and cannot be tampered with.
Blockchain technology came into the market in 2009, with the inception of cryptocurrencies. The crypto industry uses state-of-the-art technology to decentralize and secure any transaction record. However, the usage is not limited to cryptocurrencies. Today, the technology is used in different sectors, and might also bring a revolution among top global industries. Blockchain technology is utilized in any industry to make data immutable.
Blockchain technology mechanism is similar to how Google Docs work. When a Google doc is created and shared among people, the doc is not copied or transferred but simply distributed. This provides a decentralized distribution chain that provides access to everyone at the same time. Any changes made by the people will be saved in the time, and date format.
The only difference between a Google Doc, and blockchain technology is that a blockchain network doesn’t allow any change in the data once stored. Blockchain is a promising technology and is forecasted to grow at a CAGR of 59.9% between 2023 to 2030.
There are four different types of blockchain networks.
Public blockchains are completely decentralized and do not impose any restrictions on anyone. Anyone around the world with a stable internet connection and a computer can avail of the network. All computers under the network hold a copy of the blocks present.
There are several advantages of a public blockchain as its trustable, anonymous nature, decentralized, and secured. However, there are disadvantages as well. It provides a slow transaction process, and the network consumes high energy. Since no government and laws exist, accepting and implementing the technology takes time.
The public blockchain network is secured with POW or POS mechanism and can be utilized to displace the traditional financial protocol.
These networks are fully decentralized such as the public blockchain networks. Here, only selected people can participate in the network making it more secure.
Some of the advantages of private blockchain are its high transaction speed, modified scalability, high-level privacy, and its restriction to only authorized users improve network performance. Private blockchain networks provide security, but the centralized nature may cause malpractices, and make the blockchain vulnerable.
If proper maintenance and security are provided to the network, it can be a great way of sharing information without making it available to the public.
Hybrid blockchain is a mixed content of public and private blockchain networks. Here, some parts of the network are controlled by organizations, while others are visible to the public. The users get information through smart contracts. The transactions cannot be altered.
There are advantages of a hybrid blockchain network such as the ecosystem. The network cannot be hacked as 51% of users cannot access the network. The transactions are cheap. The architecture is customizable and maintains security, integrity, and transparency. The participants can be chosen and the transactions can be made public. Some of the disadvantages are efficiency and transparency.
The hybrid blockchain network provides a better solution to the government, real estate, fintech companies, and healthcare industries. The network is best where data can be accessed publicly but secured privately.
A consortium blockchain is a creative solution to solve the basic needs of any organization. This network initiates and receives transactions and also validates them. Also known as federated blockchain it is a hybrid of both public and private blockchains.
Some of the advantages of consortium blockchain are speed, authority as multiple organization scans take part, privacy, and the flexibility of the network. However, the disadvantages of the network are approval issues with differences of interests among organizations, lack of transparency, and chances of vulnerability in the blockchain.
The network has high potential in banks, businesses, and other remittance sectors.
Blockchain software is a complex network and takes time to build. For basic software with bare minimum features, it will take a minimum of four to five weeks. While several readymade solutions are available in the market, if you plan to build blockchain software from scratch, it may take 2 to 7 months depending on the complexity of the software.
Blockchain development is a complex process. The cost of developing software could range between $15K to $500K depending on the development, design, technology used, time frame of the product, testing, and updates.
Blockchain software is a complex product and requires expertise to run successfully in the market. Here are 5 tips to choose the right blockchain development company for your business.
There are several blockchain development companies in the industry today, which makes it hard to choose the best that fits your company’s goals. Here we have a few tips or questions that you must ask before signing the contract.
A blockchain development company with the right infrastructure will be able to provide you with data integrity maintenance, transaction verifications, and a secured network from hackers. The right infrastructure will ensure quick data transactions, low compliance fees, and secure transactions. Therefore, while choosing a blockchain development company always check if they have a proper infrastructure.
To successfully build a blockchain application, it is crucial to have a skilled and dedicated team of blockchain developers working on your project. Therefore, while choosing the best blockchain development company always ask for a team of developers that will focus particularly on your project.
There are hundreds of blockchain development companies revolving around the market. To choose the right one for your business, it is crucial to look at their past projects. Therefore, before signing up a contract, always check their portfolio of previous projects, or if they have worked on a similar service before. This will not only give you an idea about their work but also assure you that your project is in good hands.
Blockchain development services require a fortune. This is why, it is important to conduct thorough research before investing in a company. Once you go through the portfolio, contact previous clients to get an overall review and idea about their services and products.
Blockchain itself is a powerful technology. However, like every other technology, it is evolving every day. Therefore, look for certified, and skilled blockchain developers, who are up-to-date with the latest technology. This will help you receive a top-notch platform to run your business.
Today, the number of hackers and cybercriminals has increased in the market. Therefore, your product must be well-secured. While choosing the right blockchain development company, don’t forget to ask about the security technology they use. Advanced security system like 2FA (Two-factor-Authentication), provides added layer of security. Other than that, an advanced security layer will help to keep the platform safe, and teh data protected from hackers.
It is crucial to compare prices while choosing the top blockchain development company for your business. Several factors contribute to the cost of developing a blockchain-based application. These are location, the complexity of the project, timeframe, the experience level of developers, the number of developers involved in your project, and other services. Always compare prices before signing a contract.
Overall, hiring a top blockchain development company for your project is a crucial task. Since it involves a high budget, hiring skilled developers will benefit you in the long run.