There’s a common saying in the startup world that when there’s a gold rush, you can either mine for gold or sell pickaxes to the miners. The returns that cryptocurrencies have provided in the last decade are exceptional and despite the volatility and downturns, it’s still a new gold rush. Founders are either introducing more cryptocurrencies or tools and services for those that choose to use them. Or both.
Most of our clients offer tools and services that help the world of crypto in numerous ways. If you’re similar to them, you’re probably looking for top blockchain development companies to help you build tools and protocols that will be used by the crypto community.
Let’s not forget, however, that the blockchain space is much broader than that.
Blockchain development in crypto vs FinTech
There’s a slight difference between developing software that utilizes blockchain among spaces such as crypto, FinTech, supply chain, or manufacturing.
While blockchain development might be a similar process across industries, the approach differs based on the problems it should solve. In FinTech, it is actually one of the core technologies that is believed to transform the industry. This does not have to do anything with cryptocurrencies and their volatility.
Fintech benefits from blockchain in bringing transparency and the much needed transparency. Instant transaction settlements and their ultimate traceability can impact finance greatly in the upcoming years. Here, often private blockchains are used the most because of the enterprise need of maintaining their competitive edge. Transparent public blockchains put them at a risk of exposing their edge, however the recent advancements in privacy-preserving protocols on public blockchains can mitigate the risk while getting resilience of well-decentralized blockchains.
On the other hand, the crypto industry uses blockchain to secure transactions and offer tools and servies for those that choose to use crypto natively, with their dedicated tokens, swaps, DeFi protocols, and more. Here, the development security is even more critical as once smart contracts go live on a blockchain, they’re executing according to the programmed rules–no matter if there’s an error in them or not. This is why development for crypto requires extra care and oftentimes extensive audits, such as the ones Ulam Labs conducts.
Top Blockchain Development Companies in 2022
Finding one of the top blockchain development companies is not the whole picture. The size and tech stack should also be put into consideration among other things.
Among the other questions you should ask, there are:
- minimum project size
- development portfolio
- project starting dates
- understanding the market that project is targeting–this is a big advantage!
- focus–sometimes blockchain operations are just a small fraction of the company
With that down, we can look onto the companies that are recognized as the top in the market. For identifying them, we’ll take a look at the Clutch ranking as well as mention other notable companies.
Consensys is one of the most established blockchain development companies active in the Ethereum ecosystem. They were responsible for building MetaMask, Truffle, Infura, Quorum, and Codefi, all of which are well-known standards in the space.
R3 is one of the most prominent development companies that has introduced the Corda private blockchain and empowers it being used by institutions in banking, capital markets, supply chain, trade finance, and many other sectors. So far, over 400 institutions have embraced their ecosystem, in private and public sectors.
IBM, one of the oldest companies in IT, offers an alternative to R3’s services in blockchain technology. They offer a set of tools to build on top of Hyperledger solutions, as well as offer IBM Blockchain Services that help enterprises establish their DLTs. In their network, they ave over 1,600 technical and business experts, making it a great fit for corporations and large institutions.
Peiko is among the top companies on Clutch that offer blockchain development services. Based in Kyiv, they build smart contracts on Ethereum, Binance Smart Chain, Polygon, Tron, Tezos, Hyperledger, Avalanche, and Hedera.
Suffescom Solutions Inc
A California-based software development company that entered the blockchain space around 2017. With many projects already deployed, they helped to build NFT Marketplaces, Play2Earn gaming platforms, and several other projects in Web 3 and metaverse spaces.
Newwave is based in Vietnam and is dedicating over 45% of their business to blockchain development. They mostly serve midmarket and enterprise clients with services ranging from web&mobile to game development.
Infograins is a New York-based software agency with their own R&D department and provides services outside development as well–in marketing and content writing. They use both private and public blockchains, especially focusing on Cardano.
Sotatek is another software services company from Vietnam that builds on blockchains and beyond – AI, Machine Learning, ERP, CRM, Cloud solutions, and more. They are a huge company with over 800 employees worldwide.
PixelPlex is a tech consulting company that offers a wide range of services such as custom software development, blockchain development, mobile application development, UI/UX design, and testing. They operate from New York since 2007.
Solulab is a large blockchain development company that has worked with well-known brands such as Mercedes-Benz, Walt Disney and Goldman Sachs. They are also recognized as a Hyperledger Certified Service Provider and Vue.js Enterprise Partner.
A tech consulting company focused on all the new technologies, including blockchain, machine learning, computer vision, big data, data science, and more. They operate in fintech, supply chain, manufacturing, as well as media, and marketing sectors.
Blockchain Development Companies – How to Find the Best One?
The question is not always whether one company being better than the other, as it’s more about which suits your project better.
For example, enterprise-grade projects with a large scope require multiple teams to be working in unison. This is a task predominantly to be taken care by larger service providers that have access to hundreds of developers at hand, ideally all working in-house.
For small and medium businesses, a more focused approach is needed. This is where you can get the best quality and teams working exclusively for your project, similarly as your own team. This is also the approach we like to take the most, working with our clients as their tech partners. Some projects eventually turn out to be long-term operations–we work with several clients for years after starting on a project basis.