Blockchain development: How to hire the right company?

blockchain development

Previously, blockchain development used to be jargon in the technology industry. But now it’s attracting multiple businesses in various industries. The technology can cause major disruptions in various fields, such as finance, supply chain, real estate, and hospitality. As the technology gains popularity, many blockchain development companies have emerged in the market.  While many companies in the market offer a variety of choices to clients, you may be at a loss on the right one to choose. If you’re looking for a blockchain developer, here is the best guideline to help you.

Hiring Framework

The first step entails determining the right hiring model. Here, you can either choose an in-house or outsourced hiring framework. The main difference is that an in-house group is your team working from your premises while an outsourced time is a different firm that you contract to work for you. Each of the models mentioned above has its pros and cons, and the framework you choose depends on your project type.

If you intend to support your blockchain project, an in-house team can be the best solution.  But these days, an in-house model has multiple disadvantages, such as time wastage and requires high capital investment. An outsourced blockchain development team can deliver high-quality services within the shortest time possible.

Project specification

Before contacting blockchain development firms, prepare the details of your project specifications. Although this area belongs to expert developers, you can set the ground for negotiations with the right development companies by explaining what you need. When describing the specifications of your project, it’s important to focus on the following areas:

  • Your business concept: Describe what you do, the type of products/services you offer, and your ideal customers.
  • Your expectations: you may expect to reap multiple perks from blockchain technology. For example, you may anticipate saving on expenses, quick processing, proper documentation management, enhanced safety, etc.
  • Your preferred solution: you may have a specific need for the type of blockchain technology you require. For example, if your field is payments, you may require a technology that supports virtual currencies.
  • Your timelines: You need to explain the key milestones of your project.

Look for candidates

Multiple platforms exist where you can find a blockchain development company. Search in niche communities like Reddit and Discord. You can also check the reviews of developers on websites, such as Clutch. When evaluating a specific developer, go through the description, read reviews, and compare the rankings.

Apart from online research, you can also find blockchain development partners at offline cryptocurrency events, such as conferences, hackathons, etc.  At such events, you may meet the representatives of the developers who can give you details on what they do.

Once you’ve got a list of developers, contact them to discuss the experience, technologies they work with, their work portfolio, and their price. You can schedule a meeting with the company for more discussions about their offerings.

‘Look for discussions and reviews around software development and, specifically, around technologies, frameworks, and language of your interest. Then, pay attention to the answers to discover the people that seem to have the most expertise around those. You can then engage with them to see if they are interested in participating in a project or if you can reach them with an offer.’


Interviews with a prospective blockchain development company

While evaluating the developer, you should pay attention to the following areas:

1. Find out if a developer knows about basic programming concepts

When hiring a blockchain development company, it’s critical to ensure that the company you’re evaluating understands various ideas of programming languages. Some of the development concepts include C, C++, Python, etc. An experienced blockchain developer should also understand the following concepts: OOP (Object-Oriented Programming Structure), syntax,  Multi-Threading, and socket programming.

  • OOPS: OOPs denotes objective-oriented Programming Structures developed around the idea of objects. These objects are organized into classes, making it possible to group them. It’s possible to modify objects without interfering with other objects in the program. The object-oriented language enables updates to be performed any time when a need arises.
  • Syntax: Any blockchain developer should demonstrate profound knowledge of syntax programming language. In programming, syntax entails the principles that particularize the overall sequence of signals used to develop structured programs for the particular functionality of an app.
  • Multi-Threading: This is the ability of a computer processor in a multi-core processor to operate many threads or procedures simultaneously. Thus, the best developer should understand the installation of multi-threading in various kinds of applications.
  • Socket programming: The socket programming language helps a developer link two nodes, enabling them to interact with each other.

2. Find out if the developer understands the security needs of blockchain technology

The developer should understand the security needs of your blockchain project and use different encryption techniques to deliver it. An experienced developer should understand the concept of secure Hashing Algorithm, Encryption and Decryption, and private and public keys.

  • Secure Hashing Algorithm (SHA): SHA technology enables a developer to surmount multiple cyber-security risks and keeps information safe. The algorithm changes the information with the hash feature and comprises modular additions, bitwise, and compression roles. Because blockchain installs encryption protocols, a blockchain developer must have a thorough knowledge of encryption ideas.
  • Encryption and Decryption concepts: whereas encryption entails transforming data into unreadable text, decryption involves converting the unreadable information into legible text.
  • Private and public keys: the two forms of keys are either used to encrypt or decrypt information. Whereas public keys are accessible to each individual, private keys are confidential and accessible to their respective owner.

3. Inquire from the developer if they understand data structures

Understanding the concept of data structure is essential in software development. Some of the data structures that a developer should demonstrate an understanding of include: Linked List, Hash Table, and Acyclic Graph.

Data structures:

  • Linked List: This is a series of data elements linked together through pointers.
  • Hash Table: This data structure installs an associative array of info types, which locates keys to their corresponding values. A hash table can turn an index into multiple slots through a hash function, facilitating the location of the required value.
  • Acyclic Graph: it’s a bipartite graph without curves. The graph lacks recurring vertices, excludes ends and starting vertices.

4. Inquire whether a developer knows the basic concepts of blockchain

An experienced blockchain developer must understand the fundamental ideas in blockchain development. Here are the basics of blockchain development that a developer should understand:

  • Distributed Ledger Technology (DLT) allows virtual information to be shared and replicated across different nodes. A blockchain development firm should know how DLT functions and how it should be applied in various kinds of blockchain.
  • Immutability: the concept of immutability means that something is irreversible. So, when information is put on a blockchain, no one can alter it.
  • Consensus: the consensus mechanism enables decisions, as blockchain lacks a central authority to govern it.
  • Token creation: tokens are tradable virtual assets that reside on a blockchain. A skillful blockchain development firm should understand how to create these assets.
  • Smart contracts are virtual self-executing agreements that allow a quick exchange of shares, property, money, etc.  You expect an experienced developer to offer high-quality smart contract services.
  • Mining: It’s the procedure of adding or validating settlements on the blockchain technology. Miners use their computational knowledge to create new blocks.
  • Decentralized applications (DApps): the developer you want to choose should understand the concept of DApps which are delivered on a P2P network of computers. Due to their decentralized nature, DApps lack a central authority to monitor them.
  • Sharding: sharding is a database division method used by blockchain developers to enhance scalability, allowing the system to execute more settlements per second. Through sharding, developers divide a company’s whole network into minute divisions called shards. Every shard has its own information, making it different and individualistic from the rest.
  • Public blockchain: A public blockchain network is a decentralized network where anyone can participate at any time. This network has nil restrictions and anyone can join and participate. Furthermore, a public ledger is visible to everyone, allowing them to participate in the consensus procedure. For instance, Ethereum is one of the public blockchains.
  • Permissioned blockchain: in a permissioned blockchain, each person can read the information on the network. However, specific players can mine or confirm settlements. In other words, permissioned blockchain presents an additional security layer, allowing specific individuals to perform particular actions. Examples of permissioned blockchains include Hyperledger Fabric, R3 Corda, and Hyperledger Sawtooth.

5.  Find out whether the developer knows the right tools to use

Developers of blockchain technology use multiple tools. The key ones include:

  • Composer: it’s an open-source tool to develop blockchain apps.
  • Explorer: it’s used to develop user-friendly web apps.
  • Remix: you can use this tool to craft solidity agreements directly from the browser.
  • Metamask: essential when transferring virtual currencies from one wallet to another.
  • Etherscan: used to verify various digital agreements and all settlements happening on the Ethereum network.
  • Mist: its role is to manage the transactions and assets in the ethereum network.
  • Caliper: it’s used to evaluate the performance of a specific blockchain installation.
  • Bitcoin Blockchain Explorer: the tool provides in-depth information about BTC address, settlements, and blocks.

Key Takeaways on hiring the right Blockchain Development company

Finding the best blockchain development team can be a challenging task for most people. With all the searches, interviews, hiring models, and reviews, you’re in the best position to make an informed decision. Suffice to say; you should resist the temptation to focus on choosing contractors with low rates. A technology with potential abilities to shape the future comes with a premium price. Remember that experienced blockchain developers are somewhere in the middle and top of the pricing list. Furthermore, the best services that come with high prices will be topnotch with minimal issues. If you can find the right development partner to work with, you’re assured of taking your business a notch higher. Here is a summary of points explored above:

  • Hiring model: You can either use an in-house or an outsourced model. An outsourced model is the best for most blockchain projects because of quick and outstanding solutions.
  • Project specification: you need to figure out particular specs of your project by determining what you expect from the blockchain technology, your business idea, and important timelines. Being clear on what you want helps you to find the right company to offer it.
  • Identify candidates: when evaluating a candidate, you should ask them what they know about programming languages, the security of blockchain networks, the basic ideas about blockchain, and the tools to use. You should also inquire about their experience in the industry.

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