5 Tips to Select the Right Blockchain Development Partner

1. 5 Tips to Select the Right Blockchain Development Partner Blockchain has ‘connective intelligence’ that weaves the entire world without an intermediate fabric. We have seen blockchain’s meteoric rise from bitcoin enabler to a purveyor of trust. This highly promising technology has captured the attention of many innovative startups and legacyorganizations. Bothglobalmarketleadersandnewstartupsleavenostoneunturnedto implement blockchain-powered solutions. However, many organizations lack the ability to doso. Let’s say, you have a blockchain project in mind. You have outlined the complete product roadmap for development. However, moving into development canbe challenging on variouslevels. As an early adopter, you may find some hurdles in implementing blockchain solutions. Perhaps your tech-team lacks the subject matter experience or, they may lack the bandwidth or internal resources to buildit. Whatever the reason, many enterprises are forging partnerships with technology-focused companies for blockchain solution and services. One reason, of course, is blockchain’s growingpopularity.

2. They are competing for professional blockchain development service providers. Finding the right blockchain development partner can be costly, time -consuming and frustrating. After all, it is difficult to evaluate the relative merits of various blockchain development companies. The stakes are high, and one wrong choice can quickly derail yourproject. • It is essential to find the right people with precise skill -sets that matches your organization needs and meets your blockchain projectobjectives. • The company you partner with must demonstrate solid competency in most technical languages such as Java, C++, Solidity, Python, and Hyperledger Fabric. They must have theabilitytocreateminimumviableblockchains,smartcontracts,orrelatedproducts. • Lack of expertise in any one of these can affect the functionality or security of your product. • To begin, here are some quick tips that can help you decide what a great blockchain development partner would belike: • Technical Skills andExperience • It is crucial to validate technical skills and experience of a blockchain development company. Here's what you shouldconsider: • Check their experiences in developing blockchainprojects • Ask about their coding standards and goodpractices • Assessthetechnicalexpertiseandskillsofblockchainarchitectsofthecompany • Review similar work that they've done for othercustomers • Software development projects are complex. Things are likely to get even more complicated with blockchain technology. That’s why it’s important to pick a firm having a proven track record of developing blockchainproducts. • Ensure that your potential partner has relative experience and skills to understand your prioritiesandtechstackrequirements.Forinstance,ifyourteamisusingagile

3. methodology, your partner should also use the same methodology. This brings agility to quickly pivot if things don’t go according toplan. • Hire someone who can work at breakneck speeds and on a schedule, so you don’t suffer from missed deadlines, frustrations andunpleasantness. • Availability andCommitment • It is very rare that your product development roadmap and the expected development time will be 100%aligned. • Projects often veer off because of unforeseen technical problems, functional dependency, or the lack of coordination among cross-functional teams. Before you hire anyone, ensure that they understand your product requirements clearly and must adapt to the solution theydevelop. • Getaclearideaonthekeyareasofdevelopmentlike: • Ask about their project managementmethodologies • Talk about how they will handle changes andenhancements • Discuss about their approach on the crises thatmay occur • Confer about support and maintenance they provide post productlaunch • Finally, if you don’t want to be left scrambling after the product goes live, hire someone that you can retain for bug fixes,regular maintenance and upgrades. • Dedicated SupportServices • For enterprises, simply developing a blockchain application isn't enough. Applications need continual support and maintenance even after successful deployment. Consider choosing your product development partnerwho also focuses on providing an ecosystem of support services from development support to system health monitoring and data storing. • Evaluate their support services suchas: • Their curated knowledge on blockchaintechnology • Core components and developertools • Cloud hostingsupports • Live technicalsupport • Real-time bugfixes • The objective behind dedicated support services is to help you be fre e from trivial activitiessothatyoucanfocusongrowingyourbusiness. • Assess The PricingModel • Different companies carry different pricing models based on their project’s core value. You can evaluate the pricing model of the potential development pa rtner according to your projectrequirements.

4. Mainly, there are two types of pricingmodel: • Variable Rate PricingModel • Fixed Rate PricingModel • You can opt for variable pricing model, if you need additional or customized services. However, if you are tight on your budget, then the fixed price model might be the best choice for you. With this model, you pay a fixed price for your product development.The 'Fixed Price Model' also called the 'Agile Fixed Price Model' allows more flexibility during development. This is because the developer utilizes the agile development methodology, which inherently allows for changes along productdevelopment. • DedicatedTeam • If your project demands an ongoing availability of developers, or if you have multiple projects, this may be the most suitable model for you. Under the Dedicated Team model, the development company assigns a dedicated team that works solely on the unique requirements of yourproject. • The advantages of this modelare: • Extension to your existing inhouse IT or development team • Flexible interaction during changes ofrequirements • Fast-Paced DevelopmentCycle • On a closing note, it is very important to ensure that the vision of partnering companies is aligned. It is crucial to seek a company that understa nds your needs and relentlessly pursues the achievement of your objectives. If you are on the lookout for professionals with real, proven experience in blockchain products development, call us on +1-609-245- 0971or email us oninquiry@cygnetinfotech.com.