Blockchain Development Cost: A Comprehensive Guide to Pricing and Factors

What is Blockchain?

Blockchain is a distributed and decentralized digital ledger system that records transactions securely over a large number of computers. This makes the blockchain intrinsically safe and impossible for data manipulation by guaranteeing that the recorded transactions cannot be changed backward. A list of transactions is contained in each block of the blockchain, which is added to the chain in a chronologically linear sequence when each block is finished. In addition to being the foundation of cryptocurrencies like Bitcoin, this technology is used in many other sectors for secure data sharing, supply chain management, and smart contracts.

Blockchain Development Company

Osiz is a reputed Blockchain Development Company that provides essential blockchain solutions. With more than 15+ years of experience, we offer blockchain development services to various industries. Additionally, we offer end-to-end blockchain solutions to fit your specific business needs and requirements. By leveraging our blockchain development services, you can improvise security, operational efficiency, and security organically. 

Factors that Determine Blockchain Development Cost

There are so many essential factors that help you determine the blockchain development cost. For instance, the complexity of the project, developing time, tech stalks, the experience of the developer, etc. Take a look at the main factors that determine blockchain development cost. 

Size of the Company
The size of the company plays a vital role in developing blockchain solutions. Here is how the company’s size is classified.

Large Companies: These companies often have a wide range of services and extensive resources. They provide high-quality services at high costs. 
Mid-Sized Companies: These companies will balance the quality and cost equally and provide competitive prices with the best services.
Startups: These companies will provide cost-effective blockchain services. Also, their services will be flexible and provide long-term support. 
Industries You Serve Blockchain

Just like the company’s size impacts the blockchain development cost, the industries you serve might also impact the same. Here are some examples of industries you serve blockchain solutions, 

• Healthcare
• Banking
• Manufacturing
• Insurance
• Education
• Logistics
• Energy
• Oil and Gas
• Travel
• Government
• Retail
• Automotive

The Complexity of Blockchain App

Here is the list of the complexity of blockchain applications that significantly affect your blockchain development cost. 

Basic Applications: The development expenses of basic applications with minimal functionalities, such as a wallet for cryptocurrencies or a sApp, are lower.
Intermediate Applications: These applications need more time and resources to construct since they include additional features, such as smart contract integration and moderate transaction volumes.
Advanced Applications: Complex applications that need a lot of knowledge and effort, such as multi-currency exchanges or platforms with a lot of smart contract functionality, end up costing more.

Blockchain App Category & Services

Blockchain applications are usually categorized based on the use cases and services they provide. Here is the list of Blockchain app categories and services. 

• Smart Contracts
• Cryptocurrency Wallets
• Cryptocurrency Exchanges
• Supply Chain solutions
• Decentralized Applications
• NFT Marketplace
• Identity Management

How Much Does It Cost to Develop Private and Public Blockchain?

The cost of developing private and public blockchains might vary on many factors. The following are the factors of cost to develop private and public blockchains. 

Private Blockchain: Typically, developing a private blockchain is more costly, Since it requires specialized solutions and improved security features, the cost might be higher. Costs might vary greatly, based on requirements and complexity, from $50,000 up to a few hundred thousand dollars.

Public Blockchain: Usually, creating a public blockchain might be less expensive than another blockchain. This is because of the scalability and security of the service and the demand for hefty investments. Costs might vary based on the size and complexity of the project, from $30,000 to $150,000 or more.

However, these above-mentioned costs for developing private and public blockchain services might differ at Osiz. We collect required business information from our clients and then quote the cost according to their features and functionalities. 

Hire Blockchain Developers

Osiz, the top-rated blockchain development company has been in the industry for more than 15 years. We have a successful portfolio of delivering 1700+ projects with over 75 global countries. So, leveraging our blockchain development services brings you more profits. Also, we have first-class experienced blockchain developers who can help you develop a robust blockchain solution. At Osiz, our developers will understand all your specifications and provide the exact service for you. So, hiring our blockchain developers will hugely impact your business in many positive ways. 

Tech Stacks Used to Create Blockchain Development

Check out the technology stacks we use to create your own blockchain development services. 

Blockchain Platforms: Bitcoin, Hyperledger, Ethereum, Avalanche, Fantom, Tezos, Graphene, POA, Stellar, Solana, Polkadot
Development Frameworks: vv 
Advanced Technologies: Artificial Intelligence (AI), Data Analytics, AR/VR/MR, Cloud, Internet of Things (IoT), Metaverse
Cloud: IBM, Amazon, Oracle
Databases: MongoDB, BigchainDB, IPFS
Smart Contract Tools: Ganache, Metamask, Remix IDE
Security Tools: Solhint, Oyente, MythX

Why Choose Osiz as Your Blockchain Development Company?

Osiz is the highest-rated Blockchain Development Company that provides an explicit range of blockchain services. The dedication, proficiency, and innovation bring Osiz the best name. We have excellent team members who have tremendous knowledge of blockchain technologies and provide first-class blockchain development solutions. To create reliable and scalable blockchain apps, our team of talented engineers puts security first and makes use of the newest tech stacks. We offer end-to-end services to make sure your project is successful and up to date, from consultation and development to deployment and maintenance. So, what are you still waiting for? Join hands with Osiz for dependable, creative, and safe blockchain solutions. Start leveraging Osiz’s blockchain development services and advance your company globally.