Blockchain technology is one of the most important advancements of the cryptocurrency industry. Also, it has a vibrant history that includes mysterious cryptographers, challenging sustainability issues. Due to its high budget and resource scarcity problems, the world's offshore technology started offering offshore blockchain software development services globally. But how challenging is offshoring blockchain solutions given its high-security requirements?
With this informative blog post, let’s explore it all!
Blockchain software development includes creating an immutable and decentralized digital ledger that saves all the digital transactions that have occurred since its start. Blockchain technology has extensive usage - from contributing to FinTech solutions to storing valuable information in the healthcare industry.
1. The blockchain contains distributed records of events or transactions.
2. Data modification is impossible in the blockchain.
3. The records in the blockchain always connect back to the originating point.
There are numerous benefits of offshore blockchain software development services. The most important of them are listed below -
When you avail of offshore blockchain software development services, you get an opportunity to access advanced blockchain technology at a reduced cost.
The offshore cryptocurrency industry has a plethora of talent and skilled resources. Moreover, you can hire a dedicated offshore cryptocurrency team at a feasible cost.
For instance, a leading offshore blockchain software development company, BJIT, offers enhanced performance in all the supply chain processes through advanced blockchain technology at a much lower cost than other offshoring countries.
Along with that, BJIT is offering 360-degree blockchain technology solutions to first-world markets such as the U.S.A and Europe.
Hiring an in-house team of blockchain specialists is costly, time-consuming, and takes up all your focus span. That's why a dedicated offshore team of blockchain professionals will give you more free time to focus on your core business goals.
The blockchain software development process can be broken down into six steps. The feasibility analysis and the PoC (Proof of Capacity) verification are two of the most critical parts of the entire process. BJIT ensures the entire process is executed smoothly while considering customer requirements and maintaining the service standard.
All the stages of the blockchain software development process are listed below –
Investing in blockchain technology requires a large number of resources, effort, and time. That's why going through a feasibility analysis before you start the project is essential.
Adequate research in picking the right blockchain platform is essential. As of 2022, blockchain technology has evolved robustly, and many platforms are being born in this process. That's why researching, analyzing, and choosing the right blockchain platform for your business is essential.
The token is a much-used term in the blockchain sector. Like coins, tokens are also the digital assets used in the blockchain process. Understanding and studying the token economy is vital to developing a blockchain solution.
PoC verification or verifying if the blockchain project will sustain the real-world scenario is essential in the blockchain development process. Leading blockchain development companies like BJIT go through this step diligently before heading towards the next step.
The final design of the user interface and the application architecture bring out the project's actual world feasibility and sustainability. Therefore, the technical and visual design of the blockchain solution has to be showcased in this step. After the experts agree with the design and PoC verification, the project finally moves to implementation.
As the project moves toward the final step, the application architecture is brought to life through the successful development of the API. After that, the integration process is followed by the final deployment.
Tools Used in Blockchain Technology
Solidity is a popular language to build blockchain systems. Blockchain developers can create robust smart contracts through this language.
Mist is a powerful blockchain wallet made by none other than Ethereum itself. Smart contracts can easily be deployed through this bitcoin wallet.
Geth is a powerful command-line interface tool in the Go programming language. Also, this tool can be deployed in Windows, Mac, and Linux to build blockchain applications.
It's a Solidity (programming language for building blockchain applications) compiler. It translates Solidity scripts for EVM or Ethereum Virtual Machine.
It’s an IDE or Integrated Development Environment to develop smart contracts. The programming language that can be used in Remix is Solidity. Also, it has powerful debugging and testing options.
BJIT is a top offshore software design and development company in Bangladesh with 20+ years of experience in the IT industry. Also, the company is offering offshore blockchain software development services at a much-reduced cost compared to other offshore industries.
The key highlights about the company's services are –
1. Implementation of agile methodology.
2. Advanced security measurements.
3. Superior cost-effectiveness.
4. Young, skilled and driven talents of the local IT industry.