How Much Does Hyperledger Development Cost?

Wondering to know how much does hyperledger development cost? Let’s get straight to your answer: hyperledger blockchain development cost around $50,000 to $130,000 based on many factors, APIs, technologies and features you want to integrate in your solution.

We at RisingMax have years of experience delivering blockchain based software solutions to our clients. Request a quote today to know the exact amount you need for your software or app solutions. We are happy to assist you at every point of your journey.

In this blog, we have explained every possible factors that adds up to the cost of hyperledger blockchain development. Keep connected!

But before knowing the cost of hyperledger development, let's take a quick look at:

• What are Hyperledger Development Services?
• What are various frameworks used in Hyperledger project developments?
• How can you calculate hyperledger development services cost?

What Are Hyperledger Development Services?

Hyperledger is an open-source blockchain technology-based framework. The permission-based blockchain network brings a great revolution to the business world regarding technology, trust, and reliability. Therefore, major industries like finance, banking, healthcare, food safety, and others started using this platform. An enterprise-ready mindset idea includes all the essential features of blockchain and additional features like enhanced security and data privacy. 

What are Various Frameworks Used in Hyperledger Project Developments?

When speaking about tools, libraries, and reusable components in hyperledger, frameworks have great significance. These assist in building smart contracts and facilitate seamless collaboration between enterprises and developers. Here we have a list of majorly used frameworks in Hyperledger projects. 

• Hyperledger Fabric
• Hyperledger Sawtooth
• Hyperledger IROHA
• Hyperledger Burrow
• Hyperledger Quilt
• Hyperledger Caliper
• Hyperledger Composer
• Hyperledger INDY

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How Can You Calculate Hyperledger Development Services Cost?

As you know, the cost of building a hyperledger application is majorly based on the app's functionality, efforts, and goals. Still, there are other factors that contribute to the development of blockchain app.  

Generally, there are three ways to develop a hyperledger project:

• In-House Development
• Hiring A Freelancer
• Hiring Hyperledger Development Company

• In-House Development

In-house project development involves when you plan to develop a product at your premises. This is the most expensive deal as you need a complete set of infrastructure and hire experienced hyperledger blockchain developers. It’s undeniable that you can customize projects per needs, but if the issue persists, you will need an additional team to solve it. It can cost you around $500,000 to $2,000,000. 

• Hiring A Freelancer

Freelancers are people who work remotely on specific projects. Mainly these freelancers handle short-term projects with low complexity levels. Freelancers' charges are very low could be between $30,000 to $90,000. But there is always an attached risk of the project's successful completion. 

• Hiring Hyperledger Development Company

This is an ideal approach to building your dream project. Hyperledger blockchain development companies involve years of experience in handling simple to complex projects. A professional Hyperledger blockchain development company also hires experienced blockchain developers ready to cope with changing business needs.

Most importantly, there are very few chances for issues to still arise, and the company takes responsibility. Best of all, companies charge an amount based on decided features, i.e., around $50,000 to $130,000.

How Do Professionals Charge Costs For Hyperledger Development Services?

Industry Of The Application

The first and foremost factor that affects Hyperledger development cost is the industry to which an app will belong. Some of the industries involve healthcare, finance, the public sector, social media, supply chain, real estate, retail, manufacturing, and more. So, the cost will vary depending on functionality, users, and security level requirements. 

Project Complexity 

When it comes to the complexity of the project, there are numerous factors that need to be considered. Some of them are: who will be the end-user? What are the current situations? How will the system resolve end users' issues? And more. These help hyperledger app development companies to know your business and decide on price strategy. 

Tools And Frameworks

Hyperledger is segmented into two categories - Tools And Frameworks. A few commonly used frameworks involve Hyperledger Fabric, Hyperledger Burrow, Hyperledger Indy, Hyperledger Sawtooth, and Hyperledger Grid. Hyperledger Tools are Hyperledger Caliper, Hyperledger Cello, Hyperledger Explorer, Hyperledger Composer, Hyperledger Quilt, and Hyperledger Ursa. Which framework or tool you use will affect the cost of overall hyperledger development.

Consensus Mechanism

Unlike other blockchain technologies that use Proof-of-work, Hyperledger uses a Byzantine Fault-Tolerant consensus algorithm for the final transactions. This blockchain technology does not require mining or transaction costs but has the potential to execute contracts at a much greater scale. 

Stack

To develop the software in hyperledger blockchain technology, you need a separate set of programming languages and tools. Developers using chain code (smart contracts built using HyperLedger Fabrics) are written in Golang. They also use Java SDK for developing hyperledger blockchain applications. Further, Python is used for DApps and chain code development, and SQL is used to communicate data between databases like MySQL, SQL Server, PostgreSQL, and Oracle easier and more efficiently. 

The APIs

APIs are used to connect business networks with administrators or obtain resources for business operations. API in Hyperledger projects is utilized to develop applications for Fabric v2.4 onwards and does not require Gateway peer capability. The function of these APIs is to perform data authentication, monitoring, creating pairs, collecting information, and handling smart contracts smartly. 

The UI & UX

Once you are prepared with everything, it's the right time to determine an attractive UI/UX cost. For this, you will need to bear the correct front-end programming language, dedicated server, and external repositories cost. 

POC or MVP

In layman's language, if you want to view how your project will look after completion, you can go with Minimal Viable Product or Proof of Concept cost. 

App Complexity

All the above-mentioned aspects are technical, and these will be considered after taking your project's complexity. If you want to know more about which category your project will fall into, remember we have lined up a few project examples depending on project complicity. These are: 

Low Complexity Apps

• Building payment gateway applications around cryptocurrencies
• Basic smart contract development app

Medium Complexity Apps

• dApps that run on a P2P computer network
• Semi-decentralized apps

High Complexity Apps

• Building hyperledger apps from the ground 
• Developing an entire decentralized network. 

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Application Requirement Based on Business

The next biggest factor is to understand your business application requirement. For instance, whether you plan to solve general business problems or plan to generate high income. Find out your business needs in healthcare, utilities, travel, NFT gaming, education, and more! 

Third-Party Tools

There are various 3rd party tools for which you need to pay a server host. The cost for these tools depends on the number of uses, downtime, data, bugs, and more. 

•  Amazon Web Services
• Monitoring Services like Uptime Robot and Statuspage
• Notification Services 
• Analytics
• Bug Tracking Tools like Instabug and Bugsee: 

These tools will cost from $10 to $1000 (based on the selected tool and its purpose).

People’s Costs Involved

How many people will be required to build your project? This is another matter of concern to calculating cost. As for hyperledger blockchain app development, you need to hire a software designer & developer, project manager, and more. From designing a beautiful layout to ensuring your platform is working smoothly without error, there is an expert required at every stage. The cost of these experts is also involved in your project cost. 

Process Cost

The process cost involves how long it will take to build your app. The process involves various stages, and every stage adds some charges. 

• The design process involves high-fidelity designs with a prototype 
• The development includes coding and testing
• Deployment on Cloud Platforms
• Moving from the existing platform to the blockchain 
• Maintenance is required for new updates and testing to run the app smoothly
• Upgrade to add new features and audit smart contract 
• Third-Party Tools for Hosting, Storage, Notification System, and Collaboration. 

Project Management

To track your regular meetings, weekly scrums, and ongoing testing for bugs and errors before a deliverable project management team will be required. Professionals from the testing team facilitate testing with software such as Trello, Jira, Confluence, and more. This software also adds up to the total budget. 

Maintenance

Building platforms in Hyperledger is at an early stage. Therefore, companies keep on updating technology to make it more scalable, flexible, and traceable. Platforms like Apple, Google, and others release a new OS annually to keep the platform ready to meet changing industry and business norms. 

Similarly, hiring a reliable hyperledger development company also ensures you keep up-to-date with future-ready projects. 

Hope you have learned- in detail about hyperledger project development costs; now it's a turn to hiring a skillful hyperledger developer or a company. Then what are you waiting for? We are just a call away. 

Why Hire RisingMax Inc. for Hyperledger Blockchain Development Services?

RisingMax is a global leader in building every blockchain technology project. We understand your business requirements and create a solution that can eliminate discrepancies and assist users in navigating easily. We build, audit, and upgrade smart contact based on various hyperledger blockchain technology. Our designed smart contract benefits enterprises across the globe. 

Our hyperledger blockchain-based applications ensure businesses are rewarded with huge profits. We have also created on-demand applications like delivery apps, eCommerce apps, taxi booking apps, and more with the power of blockchain technology. 

With this, we have proficiency in building NFT marketplace platforms like OpenSea, Rarible, and SoRare. Crypto exchange platforms like WazirX, Robinhood, WeBull, CashApp, MetaMask, and Binance apps. Besides that, we developed a customized platform for developing token standards. We are also known for various features:

• Network Platform 
• Higher Accuracy 
• Open-source security
• Reliable Business Model 
• Scalability and transparency 
• Confidential transactions

Our developers have the skill to build an infrastructure that allows you to multitask without worrying about information sharing for information-sensitive businesses.