Top Blockchain Companies – September 2019 Reviews

Rankings as of July 13, 2024

Blockchain is an expanding list of records known as blocks, interconnected via cryptography. That means, the records cannot be tampered and are hack-proof. For business, private blockchains are the recommended ones. By 2024, the global blockchain market is predicted to grow over $60 million as more and more number of companies are adopting this technology to grow their businesses with complete security and accuracy.

Entrepreneurs breaking the stereotypes are taking maximum advantage of this tokenized economies and are acting as catalysts for blockchain ecosystem expansion at the global level.

Many companies belonging to different industry-niches like medical, healthcare, travel & tourism, retail, eCommerce, banking, etc are using blockchain solutions to execute their company processes in a hassle-free manner.

You can find many blockchain development companies online claiming to deliver high-quality blockchain solutions. But not all of them really fulfill their claims! We have taken the initiative to rank the top performers in this category, to help you find the most suitable and reliable blockchain development company.

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Top Blockchain Developers

Total Records: 10
To help you analyze and select your ideal company, here is a tabular format of our curated list of Blockchain Development Companies. Choose your decision wisely in terms of selecting a blockchain company.
Rank Company Location Employees Score Website
1 Zfort Group Kharkiv, Ukraine 50 - 249 99% Visit Website
2 Cubix Washington, DC 50 - 249 98.8% Visit Website
3 El Passion Warsaw, Poland 50 - 249 98.6% Visit Website
4 Venture Aviator New York, NY 10 - 49 98.3% Visit Website
5 Intellect Soft Palo Alto, CA 250 - 999 98% Visit Website
6 Altoros Sunnyvale, CA 250 - 999 97.5% Visit Website
7 Itransition Lakewood, CO 250 - 999 97.2% Visit Website
8 ArcTouch San Francisco, CA 50 - 249 97% Visit Website
9 LeewayHertz San Francisco, CA 50 - 249 96.8% Visit Website
10 Appinventiv Manhattan, NY 250 - 999 96% Visit Website
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What is Blockchain?

Blockchain refers to a carefully constructed “truth” algorithm which is designed for business purposes. It is an algorithm which is entirely transparent and records any kind of activity of the established network and displays the activity for anyone who is present in the network. It is incorruptible, and a transaction made through the algorithm cannot be hidden or removed from the system without notifying everyone in the network, it is this quality that makes it the truth algorithm.
The basic idea of double bookkeeping method of ancient Italian merchants which then became the major strategy of bankers is the base idea behind one of the greatest internet innovations which are blockchain. Transactions listed in a blockchain can be of different values like actual money or cryptocurrencies like Bitcoin, or it can denote the exchange of any asset in the network or digital assets. These transactions which are bundles into blocks and then interlocked using cryptographic locks results in a proper blockchain. As a centralized source is non-existent, data present on a blockchain is easily accessible and verifiable but not corruptible. This special feature makes your data safe from any online hackers but also displays your data to anyone who looks for it.
Blockchain also has an autonomic authority which means that there will be one controller of the whole network and it is only through this person that any alteration can be made to the network. With all these secure norms regarding the incorruptibility of the algorithm; blockchain is also very easy to access network where you can get the required data or details within a few clicks on your mouse. Adding to its other features, blockchain also has a lot of customizing properties which can be utilized at the developing stages of the network, more of which you can find by reading on.

Different types of Blockchain

Just like any commercialized technology out there, blockchain has different types of its own to serve specific or different purposes of a company and thereby help bring up the levels of efficiency in your company. The three types of blockchain are namely private blockchain, the federated blockchain, and public blockchain.

Private blockchain: As the name suggests, private blockchains are private in nature which only provides the ‘write’ option to the private party only leaving the read option to private or public according to the preference of the private party involved. Companies use specifically created groups to maintain a private blockchain to maintain surveillance or to asses all the transactions internally without exposure. This type of blockchain reduces transaction costs due to lesser involvement and also makes document handling better as there is very little exposure. An example of a company which has a well established private blockchain is Hyperledger, an umbrella project, which relies on third parties to complete online transactions. MONAX and Multichain are other examples.

Federated blockchain: The federated or the consortium blockchain works only under the leadership of a group. With high scalability, this type of blockchain is faster compared to the other types of the blockchain. Used mostly in the banking sector, the federated blockchain hold privacy as its specialty and this is achieved with certain preset nodes that define the blockchain. These nodes define the federated blockchain and achieve the desired privacy. The reading of the details of the blockchain can be made public or kept private according to the preference of the group that runs the blockchain or employs it. R3(bank), EWF(Energy field) and B3i(insurance field) are some examples of companies which run federated blockchains.

Public blockchain: Public blockchains give the read and write permission to the public which is everyone. It runs on the protocol which is known as the Proof of Work (POW) consensus that enables anyone to download the code and start running a public node on their local devices and thereby also validating any transaction to happen on this platform. This also means that any transaction will be displayed on the open ledger of the blockchain if it is a valid transaction as any transaction on a public blockchain can be accessed using the block explorer. The most popular public blockchains are Bitcoin and Ethereum. These companies have proved the efficiency of the technology and also removed third parties like banks or agents. Moner and Dash are other popular examples.

Blockchain for your firm

As an open ledger that records any valid transaction that happens on any time-savings network, a blockchain network can bring in a lot of relevant purposes to your firm through its implementation. Here are some reasons why blockchain implementation would work wonders in your firm.

Enhanced security: The blockchain network which is entirely encrypted and repeatedly encrypts any kind of data that it receives, assures its user that the data that is stored in the encrypted network of a blockchain stays secure with the autonomic authority that runs the network. In other words, blockchain deals with intense levels of coding which makes it strong against any hacking attempt making it a desirable network to have in an office environment where confidential matters will remain confidential no matter what.

Increased speed: With security as its prime advantage, blockchain will also offer your firm a higher rate of efficiency through high levels of processing speeds. The powerfully encrypted network is also equipped with the coding to give rapid access to the required data and to transfer data across interoperable protocols which can make file sharing between different departments easier.

Cryptocurrency: Cryptocurrency is the instrument which will help your firm to have an enhanced, secure and fast blockchain network. Put in simple words; cryptocurrency is nothing but encrypted currency which can be used for transactions online without the fear of financial fraud. This encrypted program that can take the form of monetary value has proved to be very useful and efficient to conduct a traceable yet safe transaction on the global platform without any interference. Critics and tech experts have tagged Cryptocurrency as the currency of the future as they foresee a time when all online transactions will be dealt in cryptocurrency which offers accurate accountability and safety above all.

Precise and accurate data: Another significant advantage of having a successfully implemented blockchain network established in your firm is the precision and accuracy that comes along with it. In regard to the preset nodes, which are set during the developing stages of the network, the blockchain will check if a particularly that happens on its platform is valid or not. This validation process removes any kinds of glitches and only records the valid transactions that happen through the network. So any data available on the network will be precise, accurate and also free from any corruption due to its strong encryption.

Time and cost savings: As an inter-operating network which can connect across different departments of a firm, blockchain is an algorithm which can bring in a lot of savings in terms of finance and time. The facility of sharing collected data across different platforms and the ability to transfer files across different protocols makes blockchain a time-saving technology as it has no limitations distance-wise. Also, a successfully implemented blockchain in your firm means that any data saved in the blockchain is safe and secure. This fact also implies that now you do not have to spend a lot on security measures as it is an unbreakable algorithm that protects your confidential company documents.

Improved traceability: As a network that follows each and every step that takes place on its platform, blockchain maintains a clean record of any activity that happened and displays it in the chronological order. This feature of the blockchain helps in the manufacturing stage of a product where any problem regarding the manufactured product can be traced back to any one of the steps of production that it went through.

Why Hiring an Agency is better?

Here are a few factors to why one should hire an agency for developing Blockchain:

Cost Efficient:
The difference between in-house blockchain development and outsourcing might surprise one. Hiring an agency might cut the cost down by almost 40% in comparison to in-house. The agencies with experience are effective in working within the given budget.

Time Efficient:
An agency would be more devoted to your work than an in-house team. The agency will have more minds working solely on your project while an in-house team would be divided with more practice. By hiring an agency, you deliver the product to end user in less time.

No Competence Issues:

To avoid a competitive environment, so everyone works to their full potential it is better that you hire an agency. Not all your in-house employees would always be successful in all projects. The in-house team should be equipped to solve specific problems and not everything.
Blockchain being a new technology can create such issues since it requires a more personalized approach to learn it. A good agency would have served clients across the globe and would be more proficient than the in-house team.

Flexible Business:

Outsourcing is better than going through the process of recruiting, hiring, turning and housing candidates for short term projects. These processes are time-consuming. One has to find the right agency and person to develop their blockchain, and they can get the work done in no time.

Solves your Business Problems:

As mentioned above outsourcing will be time efficient. You can use this saved time in resolving other business problems or investing this time in other attributes of the business. For example, Azati a software company usually invites the winners of computer science olympiads to join their internship program to hire bright professionals from a young age. This way they save much time which can be further utilized in other parts of work.

Blockchain Trends in 2019

Here is a list of expected blockchain trends in 2019:

Digital Asset Services by financial institutions:
 Started in 2018, this trend will have a good hold in 2019 as well. Even Though some companies are trying to adopt the new editions of Blockchains available in the market, others still prefer the rapidly evolving cryptocurrency market. Even though the prices of cryptocurrency went down in 2018, the technology didn’t. On the contrary, it stayed in demand and is here to stay. Audience’s user experience of managing their assets has been frightening and from a business point of view want custodial services in exchange for digital assets. Financial incumbents like Microsoft and Starbuck realizes this requirement and are building out their services called Bakkt which was supposed to launch in January but has been postponed.

 Everyone knows privacy is one of the significant challenges in blockchain since the tractions are easily traceable. Further, the participants who sign up to be clients can be identified by regulated businesses. Open blockchain has the most privacy concerns compared to the other types of blockchains new developers are coming up with new solutions quite often. In 2018, one such improvement was implemented in cryptocurrency Monero. It had a massive impact on its scalability and its privacy.

Scalability and Micropayments: Blockchains hit their capacity as the demand outgrew the network’s capability in 2017 and in 2018 steps towards solving these were rejected. Lighting Networks on Bitcoin was released, the first tech-savvy users made small payments to each other and settled their balances on an underlying Blockchain layer. And In 2019, the technology is expected to become more user-friendly with new interfaces; so small payments can be taken off the blockchains without any drawbacks and damages.

USP Tests:
 The projects that have launched last year follow the trend of not separating cryptocurrency and digital currency to make small payments like that to a dentist or graphic designer. But this is possible with just one cryptocurrency instead of having to facilitate both cryptocurrency and digital currency. The unavailability of this feature is one of the primary reasons why some companies lose their investors who were interested in single purpose currencies which offers them a choice to do transactions using any one of the currencies instead of sticking to just cryptocurrency.

Timestamping Use Cases:
 Blockchains have a tamper-resistant design which provides a useful place to store a lot of specific data to a particular point in time. In 2019, it is expected that more businesses and the government will use this. Everyone is benefited from it only once they learn how to implement it.

Tokenisation in Real Estate:
 Since the real estate market isn’t accessible to small investors, putting shares in it on Blockchain becomes easier and faster for large groups to invest. They can further exchange ownership of part of the building.

Decentralized Identity:
 2018 was disappointing since a lot of large platforms got hacked, which also resulted in their growing desire to have a digital identity. It gave users the privilege to control the data access and decide who gets it. The Decentralised Identity Foundation has a lot of organization along with Microsoft at the forefront of this development. It’s expected to be available in 2019 as well.

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