How much does it cost to build a blockchain app?
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Want to know blockchain app development cost? Herewith I am sharing with you the complete guide that helps to decide the cost for your next blockchain app development project.
Blockchain is the most emerging technology that is a highly secure, reliable, fairly simple platform for buying, selling & exchanging a cryptocurrency. Before you create a blockchain app you must know the benefits here,
- Added Security
- Fraud Prevention
- Transparency
- Cost-effective
- Easy access
- High speed
- Traceability
The cost of the blockchain app development depends on various factors, such as:
- The Industry of the application
- The complexity of the project
- Cost of people involved
- App building process
- Project management methodology
- Continuous integration
- Maintenance
1. The Industry of the application
Industry |
Cost |
Healthcare |
$55-$100K+ |
On-Demand |
$40-$80K |
Social Media |
$45-$100K+ |
Public Sector |
$70-$100K+ |
Finance Sector |
$50-$100K+ |
2. The complexity of the project
• The Platform Used
• Consensus Mechanism
• Technology Stack
• The UI & UX
• POC or MVP
3. Cost of people involved
How many resources or project teams do you need to build an app? The cost of hiring a blockchain app development team contributes significantly to the estimated costs.
4. App building process
• Design
• Development
• Deployment
• Migration
• Maintenance
• Upgrade
• Third-Party Tools
5. Project Management
They use an agile method to hold routine meetings and weekly scrums to track ongoing sprints, tests, times, bugs and deliverables. The agile methodology can be facilitated using the software.
6. Continuous integration
To make sure that the code works seamlessly, every developer should write & validate code in a shared code repository. An automated process is the best way to check this. The use of Bitbucket & Github for managing source code leads to the heightened cost of the blockchain app.
7. Maintenance
Also, various blockchain platforms release new OS updates annually. The maintenance of a blockchain app normally costs around 25-30% of the overall project cost and may vary depending on the complexity of the app.
We should say that the blockchain app development cost starts at $5,000 and can go as high as $200,000.
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Comments
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