What does a Blockchain consultant do?

A booming NFT marketplace. A range of FinTech projects. Wallet development. Enhanced data security. All of these software solutions have come about thanks to blockchain development services.

Blockchain has evolved and gained considerable prominence and popularity since its initial introduction as the backbone of Bitcoin. And it has risen in our collective psyche and knowledge as an important technology to watch and have on our radar.

The blockchain development team is responsible for researching, analyzing, developing, and testing existing and custom blockchain solutions. With the technology’s capabilities extending far beyond Bitcoin, where many trace its origins, into today’s NFTs and an expansive metaverse, blockchain consulting services are in increasingly high demand. 

Blockchain projects have many applications. A blockchain software development company works with clients across industries and niches, ranging from FinTech to social media to real estate, to identify and meet the most pressing business needs. Businesses from startups to enterprises to create a range of blockchain solutions.

A blockchain development company offers a range of software solutions to help your team bring its next blockchain project to fruition. Just some of the ways they can address your business needs include:

  • Devising and implementing blockchain protocols
  • Employing an agile development process
  • Documenting solutions and projects
  • Creating blockchain-based products
  • Leveraging experience and expertise to make recommendations on your technology stack, development cycles, protocols, and more 
  • Identifying opportunities for building blockchain technology
  • Otherwise improving the user experience

Custom blockchain development services can also use their expertise to help companies — startups, enterprises, and everything in between — make improvements to their existing blockchain development projects, augmenting their existing team with experts in this space.

What Is Blockchain Tech?

So, you know a little bit more about what blockchain development services bring to your business. But how does blockchain actually work?

Blockchain development projects are a segment of software development that leverage blockchain technology. The blockchain is a distributed public ledger that monitors and registers the transactions made between interconnected nodes within a network. It has helped businesses create new trustful and verifiable networks by guaranteeing the validity of a transaction from three pillars: decentralization, immutability, and transparency. 

By running on a decentralized format, blockchain networks have no parent authority every bit of data is hosted by millions of computers at the same time. This means that information can’t be owned by a single entity. Instead, it is shared by all parties who are part of the network. As a result, all records are public and easily validated, while also being accessible internet-wide. 

However, public data also has to be safe. That is why blockchain makes use of cryptographic hash functions to become immutable. Massive amounts of calculations and algorithms are run on every node of a network to keep data secure. Simply put, once data is uploaded to a blockchain, it is impossible to tamper with it. This means better overall data security.

Finally, blockchain networks have introduced a new level of transparency never seen before in any financial system. Although all transactions are public, individual identities remain hidden via complex encryption and are only represented by a public address. This preserves privacy to a certain extent but also forces honest transactions within the network.

4 Common Blockchain Applications

Enterprise software can benefit your company in numerous ways. Here are specific blockchain solutions that an app development company or consulting firm can help you build and implement.

  • Smart Contracts

    Smart contracts are one of the most popular vehicles for blockchain platforms. They are digital protocols designed to facilitate, verify and enforce contracts without relying on third parties. This format allows negotiation terms to be stored, replicated, and supervised by the computer network running a blockchain. In other words, smart contracts guarantee a super-specific set of outcomes, which allows you to avoid any confusion or any need for litigation.

    All of this means that exchanging money, shares, property, or anything of value can be done without resorting to middlemen — namely lawyers and notaries—in a transparent, conflict-free way. Today, along with the increasing adoption of bitcoin and blockchain technologies, smart contracts are growing in popularity, and are often built to trigger payments in digital currencies.

  • Crowdfunding

    Traditionally, business funding has always taken one of three forms: bank funding, venture capital, or self-funding. The problem is that most businesses find it very difficult to follow any of these paths, due to several financial prerequisites that they are unable to meet. This can inhibit the growth of ideas with great potential.

    As an alternative, blockchain facilitates crowd-sourced venture capital funds with a new prototype of economic cooperation. These low-risk campaigns allow creators to retain full control over their product and get support from their target audience through a transparent process. There is no middleman taking a cut, and donors can be sure that their money reaches its destination without any obstacles. Of course, this entire process is regulated through a smart contract, backed by blockchain technology.

  • Supply Chain

    An efficient supply chain management is crucial for the success of any business. However, current management methods are hard to track down, may incur unexpected costs, and are highly vulnerable to human error and corruption.

    With blockchain software development services, every step taken throughout the supply chain is documented, effectively creating a permanent data log of any product or material, from manufacture to sale. All the flaws mentioned earlier can be easily mitigated with blockchain, making blockchain-based supply chain management systems the norm for the future.

  • Stock Trading

    Blockchain can potentially allow for trade confirmations to be executed peer to peer, without the need for intermediaries. This would make it easier to transfer property rights and other assets while also reducing transactional costs and boosting investor trust.

    In a blockchain-based environment, shares are represented digitally and all transactions are registered in real-time. This way, corporate shareholders are able to transfer their voting rights to a proxy, making it easier to verify share ownership and notably reducing transaction time.

BairesDev Strengths

BairesDev offers extensive experience in the blockchain app development realm. Offering enterprise-grade blockchain-development service, we hire only the top 1% of talent to turn your blockchain solution into a reality.

Blockchain development is not our only area of expertise, but no matter what your project, we will bring the right knowledge, technology stack, and skills.

We are well-versed in a range of tech stacks, and we employ an agile development process to help ensure efficiency, quality, and customer satisfaction. Our strengths lie within our developers and other professionals on the blockchain development team, including project managers, UX designers, quality assurance engineers, and others.

Why Should Your Company Use Blockchain Tech?

Blockchain development offers plenty of advantages to both businesses and customers. Some of the chief benefits of creating and leveraging a blockchain app are:

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Transparency

Blockchain is a distributed ledger that increases transparency in a range of transactions. Every participant has access to every document but needs permission to share or update them. 

Improved Security

Information is recorded and stored across a network of computers connected through a secure validation mechanism, maximizing data security and confidentiality. 

Increased Efficiency

Because blockchain platforms function by using a single digital ledger, everyone has access to the same information, which makes it easier to trust each other and work in a more efficient way.

Decentralized Collaboration

Anyone can transact and participate in the Blockchain. And since transactions are recorded across different devices, no record can be altered without changing subsequent blocks.

Scope of Services

As a top blockchain development company, we offer full-scale service for a range of clients and users across sectors. Our primary goal is to help you enhance the user experience and provide the best blockchain software development to meet your needs. 

We can help you create a range of custom blockchain solutions that serve as the basis for:

  • Wallet development
  • Smart contracts
  • Record-keeping platforms
  • Platforms with several payment options
  • Numerous additional blockchain applications

      We offer end-to-end blockchain development services, meaning our custom blockchain development team will create your platforms and products using our own expert blockchain developers, who will help you find opportunities to tap into the blockchain network. The final decision-making will be yours, our blockchain development firm will give you dedicated service and create your blockchain software independently. 

      In addition to custom blockchain solutions, we can also augment your existing blockchain-based development process by bringing in talented blockchain developers to assist you with any part of the blockchain software development cycle. 

      Whether you are creating an MVP, building a smart contract, or trying to tap into the NFT marketplace, our blockchain development firm can bring you the best service and improve your development process.

      Blockchain Frameworks

      Blockchain implementation, like any application or software process, demands a solid tech stack and foundation. Blockchain development services use a range of frameworks and tools for their app development. Examples include:

      • Ethereum
      • Exonum
      • Hyperledger Fabric and other Hyperledger variations
      • Corda
      • Quorum

      When you’re choosing a blockchain framework — or working with a software development company to facilitate custom blockchain development — there are several different factors to consider. For example, you want a tool that’s backed by a large community to lend your support and guidance, as well as offer resources. That doesn’t mean you should automatically choose the most popular framework, though.

      In your decision-making process, you should also think about your niche and the platform’s strengths within that area. Additionally, consider the expertise and focus of your development company or the external blockchain app development services.

      Think about the cost of the framework and whether or not it’s open source, too. The specific features, of course, are critical in your decision, too. 

      If you’re working with an app development company, you may find that they have a preferred tech stack. Still, it’s a good idea to investigate the possibilities yourself.

      How We Develop Blockchain Tech Projects

      Adopting blockchain technologies can seem quite daunting at first, but the right assessment can turn implementation into a smooth process. As this technology continues to evolve and become more sophisticated, the IT industry will definitely continue exploring new blockchain applications for more businesses. 

      We are well-versed in software development services of many different types, from building social media chatbots to implementing full-scale app transformation. Our blockchain app development services are well-established and well-honed. We have vast expertise and experience in this niche.

      At BairesDev, we offer full blockchain development services to help you work in a smarter way, reducing risks and improving traceability and security. Our software engineers have deep knowledge and extensive experience in providing blockchain solutions. Our blockchain development team can help you improve or construct a range of blockchain apps from scratch.

      Clients' Experiences

      FAQ

      Bitcoin was introduced as the first cryptocurrency in 2009. It incorporates blockchain, which caused blockchain software development to rise in prominence.

      The metaverse is a multifaceted entity. Blockchain is involved in numerous aspects of this innovation, particularly in terms of payment options. It is the magic behind the exchange of NFTs, for example, as well as crypto — which are both proving critical to the metaverse.

      Blockchain technology is a digital ledger and means of record-keeping. Users can tap into these platforms to ensure that their information is kept protected.

      Blockchain app development is considered highly safe because the ledger is immutable and the process is transparent.

      The blockchain itself has numerous capabilities. Even if you’re leading a software development company, chances are, there are many projects in the pipeline, and you can’t always dedicate your attention specifically to blockchain app development. But when you work with external blockchain consulting services, you can take advantage of dedicated expertise, as well as alleviate some of the pressure your developers are facing. 

      This is true across industries, from real estate to marketing.

      Smart contract development refers to the creation of an application that automatically executes a legal agreement between two or more parties when certain requirements are met.

      Related Pages

      Start Building Your Development Team with BairesDev Today!

      Whether you need help getting your blockchain MVP off of the ground, are looking for improvements in your existing apps, or want to create an entirely new blockchain project, we are the blockchain software development company to turn to. Your blockchain project will be in good hands, thanks to enterprise-grade expertise and skillsets, no matter how big or small your company is. 

      We’re here to help you with your blockchain implementation and bring your blockchain solution to life.

      We create impactful solutions that drive meaningful change with a strategic vision.

      Clients' Experiences

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