Here are the top blockchain development companies of 2023 ranked by industry experts. If you’re looking for blockchain development services for your business, you could be in great luck.
According to a report by PwC, technology would have an infinite potential to grow global GDP by about 900$ billion in the next eight years. Recent progress in the blockchain technology sector has only strengthened this source of information. Many industries utilize Blockchain Development Services to increase their overall market reach, such as healthcare, agriculture, logistics, financial services providers, etc.
What is Blockchain?
Blockchain keeps financial records (or any other data) decentralized to secure the third-party security system. The prime difference between a traditional database system and a blockchain is maintaining entire blocks to create a cryptographic chain. In blockchain technology, no space is given for any mistakes or inconsistencies.
Each blockchain participant holds a data record that leaves no room for improvement or changes in the timeline. In short, blockchain is capable of detecting any change or trouble. If there is any damage, the blockchain will verify it soon enough to store financial information safely, leaving no chance of exploitation.
How Does Blockchain Works?
As we have clarified, a blockchain is a network of individuals sharing potentially crucial data. This data type often depends on the blockchain’s industry; for instance- cryptocurrency-based blockchain stores important information on trader, recipient, and currency exchanged amount.
Before we indulge in noting down the top six blockchain development companies, let us explain what benefits they provide.
Benefits of Blockchain Development
Blockchain creates strong trust between entities where it is either nonexistent or can’t be proven. These entities thus include transactions or data sharing that they otherwise may not have needed or required. Unbreakable trust is most valued and is cited as one of the most enormous benefits of blockchain development; its significance is pretty evident in the early use cases of blockchain. Cryptocurrencies and bitcoin are prominent examples of how blockchain is behind the enablement of trust between participants who potentially do not know each other.
Improved Security and Safety
Another leading benefit of blockchain development is an improved sense of security of its enable system (systems). The high security sure does create a record of end-to-end encryption, which without a doubt, shuts down fraud and unauthorized activity. Additionally, data on the blockchain is stored as it is evident across a network of computers, making it nearly impossible to hack traditional computer systems that usually keep data in servers.
Amazingly Reduced Costs
Organizations are on the go to look for ways to decrease expenditure. Now the sole nature of Blockchain can cut down costs as it creates efficiencies while processing transactions. It also, to some extent, reduces manual tasks like amending data and additional auditing processes—Blockchain’s ability to streamline settle translation into the cost savings process. If we go wider than vendors and third-party providers- we also have given what Blockchain can perform or deliver.
Top Blockchain Development Companies
Infosys is a well-known name in the blockchain technology industry; businesses look after Infosys as a source of inspiration. They serve different sectors, including manufacturing, insurance, AI, digital marketing, pharma, financial services, retail, and communications. Now the renowned MNC started its business journey in Pune, Maharashtra, in 1981, and since then, it has grown huge. The company started with only a capital of $250 in 1981, and now its revenues have crossed $16 billion (according to 2022 statistics).
A CMMI Level 5 company, Seasia Infotech has proven its mastery of blockchain technology solutions by delivering over a hundred blockchain projects. The company specializes in web application development, mobile application development, web design, dot net, PHP, Java, and many other services.
“Our Vision Defines Our Excellence,” written on Seasia’s about us page, points at what most companies have forgotten in today’s time. A company’s vision speaks the most of its credibility. Seasia Infotech blockchain development company provides advanced and efficient blockchain-based technology solutions.
Seasia offers blockchain development services such as innovative contract development, wallet development, blockchain consulting, and others. It is more than safe to say that Seasia Infotech has become an inspiration in the market for blockchain development services.
HIVE Blockchain Technologies Ltd.
Founded in 1987, HIVE Blockchain technologies ltd. It is one of the first blockchain development companies ever to exist. With its headquarters in Vancouver, Canada, the Blockchain technology development company has grown to a great extent. The company owns green energy-powered data center facilities in Canada, Iceland, and Sweden.
Not many blockchain development services can say that we own so and so country’s data centers. It would not be misfitting to express that HIVE Blockchain technologies ltd. It is the shark when it comes to blockchain technology. The company also mines digital currencies such as Ethereum and Bitcoin.
Silvergate Capital Corp.
Founded in the same year as HIVE Blockchain technologies ltd, Silvergate Capital Corp established itself as a well-known blockchain development services company in the USA. The blockchain development company provides users with services to easily participate in the digital currency industry. The company’s headquarters are in La Jolla, California, United States.
Hyperlink InfoSystem was founded in 2011 and is one of the best web and mobile app development companies. Their team’s ability to provide accurate and extraordinary blockchain development services is their specialty. Hyperlink Infosystem delivers IoT, artificial intelligence, and data analytics services.
Alpha Point is a software development company with its headquarters in New York. The company power cryptocurrency exchanges worldwide. Alpha Point is unique because they give consumers a chance to launch and run their own market and digitize assets. The organization has won several awards for its services and has assisted more than 150 clients worldwide in executing their blockchain strategies since 2013.
Blockchain has become a great source of technology advancements for various companies/organizations. Everyone wants to be in the race to be a modern blockchain development company. Although it’s not that easy, one needs to be an expert and know every detail about the technology.