How Much Does It Cost To Develop Decentralized E-commerce Store

Blockchain E-commerce platforms are shaping the future of online stores. A huge number of startups are joining the decentralized Ecommerce platform to make the business global without the currency difference. Cryptocurrencies have provided the world with one such type of currency where it does not change its figure across the border. 

Let’s see some of the numbers that will show you how people and businesses are accepting the blockchain as the future.

Stats & Facts Of Blockchain 

• The market size of the complete blockchain industry was $10.2 billion in 2022. And is expected to grow up to $17.21 billion in 2023. And more than $19 billion in 2024.
• 3.9% population, which is approx. 300 million people are using blockchain technology for cryptocurrencies.
• 90% of the banks of the most developed countries like the US, Canada, and European countries are planning to implement blockchain.
• Globally there are approx. 82 million crypto wallets exist.

A decentralized online store is one such platform that is in high demand in this era of Web 2.0. The decentralized world of digitalization is creating space for every business, from decentralized online stores to Web3 gaming platforms. The decentralized version is not just creating better opportunities for every business but also helping reach customers globally.

In this blog, you will get to learn about 

• How much does it cost to develop a decentralized online store?
• How can you develop a decentralized online store?
• Benefits of building a business on the blockchain platform.

If you are planning to move your online store business to a decentralized platform, then read the complete blog, as we have something more offers for you apart from information. 

What Is An E-commerce Decentralized Platform?

An E-commerce decentralized platform creates a space completely user-centric and safer for the users. The decentralized platform has the ability to serve on the global stage without the limitation of international boundaries and protocol. Popular examples of decentralized E-commerce stores are Carrefour, Nestle, Walmart, and De Beers. There are multiple other startups as well who are welcoming the decentralized format in their business. 

E-commerce is one of the most enhancing industries that are helping the world to get anything on their doorstep. And with that, the responsibility of E-commerce companies is also increasing to deliver the product with accuracy and manage the data and track record of the products. The blockchain has the potential to maintain the supply chain and enhance the functionality of the E-commerce platform. 

Features That You Could Include In a Decentralized E-commerce Store 

Here are some of the must-have features for moving or developing the online store on the decentralized platform. 

User-Friendly Navigation

User navigation is one such thing that is important in making the platform a user-friendly decentralized application. You have to try your best to simplify the online store as much as you can so that the user will find it much easier to search for the preferred product. Easy navigation helps business platforms to get more frequent sales.

Footer Navigation

The next important thing that should be available in a decentralized online store is footer navigation. This will help your users to jump on to the product they want directly. It can be with multiple options to jump onto the required product or section directly. This will help the platform generate good revenue as each thing will be at its fingertips.

Order Tracking

So, when discussing this, let me show you one benefit before explaining this section. You can make your single platform open for all countries. Anybody from anywhere can get in touch with you to place their order. As the payment method is fully decentralized, one can pay you with the same cryptocurrency, and you will receive the amount not just the same but also in a flash of a second. 

The order tracking should be very high-quality, with real times trackers and instant updates for the users as well as for you. Usually, the users are curious about knowing the update of their product. So keeping a keen eye on the order tracking status will be beneficial for the decentralized online store.

Push Notification By App

An important indicator that will offer you a clear picture of how well your online store is doing is user retention. The number of users that downloaded the app & used it, and then went back to use it again may be determined by blockchain app developers and enterprises using this crucial measure.

Developers of blockchain apps continually solicit user feedback and consider other factors, such as the features consumers prefer when the app is updated or adjusted. The value of your app is zero if a user downloads and installs it on his or her phone but never uses it again.

For complete information and Free Consultation, get in touch with our experts. We are available 24*7 to assist you with the free IT consultation service. We are among the top 5 blockchain development companies in NYC, US, and also serving on the global platform.  

Cost To Develop a Decentralized Online Store

When it comes to development costs; there are various factors that affect the price. From what features you include in the application, the complexity of the application to the size of the company you are hiring for development, etc.

The next thing that affects the cost of the development is the complexity of the platform. The complexity of the platform helps it to be easier to use the store panel. As the investment will be one-time, it should be of high quality and with great features. So instead of thinking about how much you are investing, you should think about how you can get a better platform.

Cost As Per Complexity Level of The Decentralized Online Store

The other thing that matters in the cost to develop a decentralized online store is the size of the company you are hiring for the blockchain application development.

Small Size Company

The average small business has between 10 to 50 employees. If you just have a modest sum of money to invest in the project, hiring small businesses might be a smart solution. In a small business, each employee focuses on multiple projects and does their best to complete them flawlessly. But when it comes to the drawbacks of small companies, there are a number of factors that could make it a risky decision for an established company or a startup. Managing many projects at once has the drawback of potentially delaying project completion.

Medium Size Company

The middle ground between the two extremes is provided by medium-sized businesses. Medium-sized businesses have skilled development, design, project management, and quality assurance teams, as well as reasonable development costs. The best partner for you in the construction of a decentralized online store can be a medium-sized business.

Large Size Company

When it comes to large corporations, one thing is clear: they always make sure to exceed expectations. The big-size company's problem, however, is with the development costs. Large organizations typically incur more development costs than smaller ones. Hiring them could be expensive if you are a startup, but a well-established business can engage a large corporation for the hospital management system.

Size Of The Company

How Can You Develop A Decentralized E-commerce Store?

Here is the list of steps that you can consider for the development of the decentralized Ecommerce store with 100% accuracy and high-end features.

Research

The very first thing for setting up the blockchain Ecommerce business is the research the business and make the blueprint of the business. The retail industry is vast and covering each of the portions at a time will be more time-consuming. In that case, you can initially start with the on section of the decentralized e-commerce and later move on to the next thing.

E-commerce Prototype

Building a prototype of the Ecommerce platform is something that could be a beneficial option for you. The development cost of the Ecommerce platform on the blockchain is quite higher than the other web2 platform development. And before investing a huge amount in the blockchain platform you have to be very sure of the application. Blockchain prototype development can be a good option for you before investing a huge amount into the platform. 

Hire Blockchain Ecommerce Development Company

The next step in the procedure of developing a decentralized Ecommerce platform is hiring the correct company for Ecommerce development. You can set your own parameters for hiring them; it could be depending upon the development cost, the time they are taking, the manpower they are providing, etc. 

The blockchain Ecommerce development company will be the perfect solution provider for you to integrate into the blockchain. 

Beta Testing

Before the final launching of the Ecommerce platform, the beta testing phase is the most important thing as it will help you to get a complete idea of the user’s response to the platform. 

Deployment

After-deployment service is the crucial thing in the decentralized Ecommerce platform. After-deployment services should be very accurate for the platform and with instant solutions. 

Conclusion 

Either your online store is for fashion apparel, accessories, or anything else, small business to large business. The blockchain platform is for everyone and with a broader scope. A good number of startups are joining the decentralized platform to get the best possible exposure and users on the global stage. Don’t be too late to take your company to new heights with emerging business-centric technology. 

Fill out the form and schedule a meeting with our experts for the consultation and development of a decentralized online store.