Blockchain is a revolutionary technology that is transforming businesses worldwide. The increasing use cases of blockchain apps make it inevitable for businesses to adopt this revolutionary technology. Industries like banking, finance, insurance, etc, are investing in enterprise blockchain app development to provide users with secure financial services.
Yes, you have read the word investing.
Enterprise blockchain apps & software solutions are more like an investment for businesses looking at the ROI aspect. If enterprise blockchain development cost is why you are skeptical about giving the green signal, then this post is a must-read for you.
An enterprise blockchain app development company can build an application within a $30k budget. However, keep in mind that every business has needs and requirements that dictate the application development cost. In this post, we have shared all the factors that impact the enterprise blockchain software price in detail.
Hopefully, going through this post will give you an idea of how most blockchain development companies share enterprise blockchain app development costs.
Data privacy and scalability are extremely vital for enterprise applications and software development. Enterprise software applications don’t run on a public blockchain like Ethereum, as it is difficult to create restrictions or limit access on a public blockchain. For this very reason, enterprise blockchain app development companies employ Hyperledger Fabric, R3 Corda, Ripple, and Quorum private blockchain. These enterprise blockchains empower the admin to limit and restrict users’ access to the platform.
Private blockchain-based enterprise apps and software solutions are effective in accounting, auditing, inventory, supply chain, and human resource management. While creating a roadmap for enterprise blockchain app & software development, blockchain development firms focus on these business aspects;
Enterprise blockchain apps and software solutions need to pay additional charges, as you are not relying on open-source storage options. Cloud storage providers like Microsoft, Amazon, Google, and Oracle, provide storage solutions for enterprise apps.
Most enterprise software development firms focus on creating a peer-to-peer network for your business application. When it comes to a private blockchain software application, the peer-to-peer network cost is considerably high.
The enterprise blockchain app and software development cost vary depending upon consensus mechanisms such as PoW, PoS, and others. The energy usage, software effectiveness, and security needs vary depending on your application's consensus mechanism.
With pre-build application programming interfaces (APIs), enterprise blockchain development companies enable the effective handling of specific tasks.
Businesses can easily handle auditing, accounting, resource management, supply chain management, and other processes. Based on the feature, the cost of implementation of APIs might vary.
Next, an enterprise blockchain development company focuses on the front & back end of the application. The application user interface, app features, and admin panel add up to the additional cost of enterprise app and software development.
Enterprise blockchain app development cost depends upon the development roadmap and developer expenses. However, most USA-based blockchain development companies charge more than $30k for a basic enterprise blockchain app and software.
The complexity of enterprise apps or software directly impacts the development cost. High-complexity enterprise blockchain solutions require the developer’s or development company’s efforts compared to low-complexity applications. Consensus mechanism, app features, tech stack, integrated APIs, and UI/UX features determine the complexity of enterprise applications.
Next, the size of the development team directly impacts the enterprise blockchain development cost. A blockchain development company with more professionals working on your project increases the overall project development cost.
The high development cost charged by a blockchain development company doesn’t indicate a quality product. The difference in currency value makes enterprise blockchain app development expensive in the USA and UK as compared to India or other Asian countries.
Most enterprise software development companies carefully analyze application requirements and other details, before sharing an estimated development time. Complex enterprise applications require more development time due to more features, functionality, and tech stack, affecting the overall project development budget.
As a business owner, you need to focus not only on the development cost but also on the implementation part as well. The estimated cost of enterprise software implementation depends upon various factors, such as project management, maintenance, and implementation. Most blockchain development companies charge between $5k to $10k for enterprise app implementation.
Enterprise blockchain development companies charge a development cost based on business software features & design. Basic enterprise blockchain software with basic design & features will cost less than software with complex design & features.
The functionality of enterprise software directly impacts the enterprise blockchain software price. Enterprise solutions that can handle simple to basic business functions will cost less than medium & complex functionality. The development cost varies depending on the functionality of enterprise blockchain software.
The below-mentioned table and pie chart represent the development cost breakdown of enterprise apps & software in percentage.
Hope, now you have understood all the factors that impact enterprise blockchain app development costs. However, if you want an exact quote for an enterprise blockchain app, then, reach out to our experts at RisingMax Inc. After carefully understanding your project requirements, our team will share a customized enterprise blockchain software development cost within a day or two.
Today, businesses in different verticals understand the advantages of implementing the enterprise blockchain application. Following are some of the leading real-world use cases of enterprise blockchain applications;
Similarly, enterprise blockchain applications are used in healthcare, supply chain, eCommerce, manufacturing, entertainment, and other business verticals. As a trusted blockchain development company, RisingMax Inc.
assists businesses in aligning their current apps & software solutions with blockchain technology. Our experienced developers follow an agile development approach to build business-oriented software solutions. Reach out to our experts and share enterprise blockchain software requirements. Move fast & move smartly with a reliable blockchain partner like RisingMax Inc.
We design and develop complex web and mobile apps, that bring value to customers, and change the way people think and act. Check out our portfolio to make sure we are a good fit for you.
Over the years, RisingMax Inc. has had the privilege of assisting startups and enterprises worldwide in integrating next-gen technologies and being future-ready.
With our hands-on development experience, we offer tailored blockchain business solutions that solve real-world business issues and add value to clients’ businesses.
No matter how complex or unique your enterprise blockchain app requirements are, our experts will get the job done within your budget & agreed time frame.
Schedule a FREE consultation call with our experts at RisingMax Inc. and discuss your enterprise blockchain app development requirement TODAY!!