- 1. In-depth knowledge of blockchain technology
- 2. Competency
- 3. Assess the creativity and flexibility of the blockchain development team
- 4. Inquire about how the developer will be communicating to you
- 5. Check for C-level authority and community activity
- 6. Consider the price of the blockchain development services
- Final Thoughts
When looking for an ideal blockchain developer, you’re likely to use various search terms, such as blockchain development team. But sometimes, the perfect blockchain developer you see while searching may not be the correct one for your project. Suffice to say, hiring an outstanding blockchain development team can be a daunting task for some people. Are you wondering how you can pick the right blockchain development team? If so, please keep reading to discover the six key things to consider.
1. In-depth knowledge of blockchain technology
Blockchain technology is a technical field that requires a team with a deep understanding of how it functions. The blockchain development team you’re evaluating should demonstrate a grasp of various technology components, including data structures, smart contracts, blockchain architecture, cryptography, and interoperability.
‘There’s a lot of hype in the air about blockchain technology at the moment. A recent World Economic Forum report predicts that by 2025 10% of GDP will be stored on blockchains or blockchain related technology. This means it’s probably something which everyone involved in business should take notice of. However, there’s still a lack of understanding about what it is, and what it does.’
- Data Structures: The blockchain ecosystem comprises data structures. Thus, a professional blockchain development team must display deep knowledge of the data structures on the open ledger. The data structures help a blockchain developer understand how the core component of blockchain, a block, behaves. Some of the most common information structures include Arrays, Linked List, Hash tables, and blockchain. As per the blockchain structure, a piece of data can be represented by any value. The information can denote different things, such as a vote, an element of a company, or a digital proof of ownership. So, besides answering questions like blockchain development, a developer should demonstrate a deep understanding of how each data structure functions.
- Smart contracts: Virtual agreements have become an integral component of blockchain projects. They make it easy for the exchange of services without the need for intermediaries. Blockchain technology allows the production of digital agreements. So, the blockchain development team you’re assessing should demonstrate their understanding of this area.
- Cryptography: Developers of any blockchain project must understand the business’s security needs. Cryptography is internet security, enabling a blockchain developer to transform data into a code-encryption. This ensures that only the intended party can access the information. Encryption of information secures it from potential hackers. The developer you’re evaluating for blockchain development services must understand various ways of encrypting data, including symmetric, asymmetric, and cryptographic hash. A deep understanding of these techniques enables the developer to create a robust and safe blockchain project.
- Blockchain Architecture: The blockchain has various components, such as nodes, blocks, chains, miners, consensus, and transactions. There are also three types of blockchain architecture: private, consortium, and public. A developer should understand the main components of a blockchain architecture to create a system that meets your needs. For example, a public blockchain design enables whoever wants to access the data and use the platform.
- Interoperability skills: the ability to gather data across different blockchain platforms is called interoperability. Currently, it’s not possible to share information across other blockchain systems. So, there’s a need to develop systems that enable easy data sharing to achieve interoperability. And a simple way to attain interoperability between blockchains is to use the concept of application programming interfaces (APIs). Thus, the blockchain developer you want to hire should possess interoperability skills to help your business gather information across various blockchain networks.
When evaluating a blockchain development team, it’s vital to assess whether it’s competent enough to deliver the best solutions. There are many ways of doing this, like evaluating their past projects, interviewing the team’s engineers, and taking note of Github authors. You can also find out the reviews of previous customers to understand the quality of blockchain development services the group offers. A preponderance of positive reviews tells you that the company knows to provide the best services.
3. Assess the creativity and flexibility of the blockchain development team
Once you know and craft the critical insights of your blockchain concept, you can share the concept paper with the blockchain development team. This enables the developer to create an in-depth proposal for you. When making your blockchain concept note, it’s critical to ask many relevant questions to allow the developer to understand your need to respond appropriately.
After responding to your queries, check how many solutions they’ve proposed to you and their corresponding rates. The company should offer alternatives that are creative and affordable. This is especially if your project is large scale.
4. Inquire about how the developer will be communicating to you
Once you’ve signed a contract with a blockchain development team, it’s essential to inquire about how they’ll be communicating to you. The best team shares information with you during project development. While speaking with the firm’s project manager is essential, requesting that the development team gives daily calls for updates is essential.
5. Check for C-level authority and community activity
The C-level executives are the pinnacle ranking executives in a company. Each company has different C-level executives determined by multiple factors, such as company size and scale.
Community activities are also critical when evaluating a company’s trustworthiness. You should check the firm’s postings on social media platforms.
6. Consider the price of the blockchain development services
The cost of hiring blockchain development services differ from one company to another. The price of developing blockchain depends on multiple factors, including software features, the type of blockchain, and the complexity of your project. Before hiring a specific firm, it’s essential to compare the prices in the market and pick one that falls with your budget.
As the popularity of blockchain technology keeps rising, many businesses are figuring how to integrate it into their businesses. But choosing the right blockchain development team is a challenging task. The tips and tricks we’ve shared here can help you make an informed decision.