Since Blockchain applications are on the rise, the demand for Blockchain developers is reaching sky high. Considering the high-grade Blockchain project, the cost of developing these projects is at its peak.
So if you need tohire Blockchain developers, it is necessary to consider the price of hiring these resources for your project. Several parameters affect the development process of building Blockchain apps and the overall estimation of its development.
This blog will explain the various factors influencing the cost of hiring Blockchain developers.
Factors Affecting the Cost to Hire Blockchain Developers
The total cost of hiring Blockchain developers depends on various factors given below.
1. Blockchain Project Scope
Blockchain technology is used in various industries, including Finance, Healthcare, Real Estate, Media & Entertainment, Supply-Chain, Legal, Manufacturing, etc.
As per your industry types, the project development requirements changes, including tech stack, app features, UI/UX design, etc. Therefore, discover your app idea to estimate the cost of development.
2. App Feature Complexity
Another critical factor affecting the development cost is the app’s features. Based on the types of the app, the features of the app vary, influencing the complexity of the app.
The higher the app’s complexity with advanced features, third-party integrations, and legal aspects, the higher the development will be. In contrast, a low complexity with basic features will cost you less.
3. Developer’s Geolocation
The region from which you will hire Blockchain developers will also affect the development cost. As per the country, the cost of hiring the developer will vary as per the hourly rate.
For instance, the cost of hiring USA developers will be $150-$200 per hour. Similarly, in Europe, the Blockchain development cost will be $100-$150 per hour. In contrast, the cost of hiring Blockchain developers from India will fall anywhere between $40 to $50 per hour.
4. Developer’s Expertise
The expertise level of the Blockchain developers will also affect the cost of hiring the developers for your Blockchain project. Since Blockchain is an ever-growing technology; therefore, developers must upgrade their skill set accordingly.
However, the more experienced developers you will hire, the higher it will cost you. In contrast, beginner-level employees will cost you comparatively less.
For instance, beginner-level developers will cost you anywhere between $500,000 – $1,50,000 (or more as per project requirements). However, an expert developer will cost you between $2000,000 – $2,50,000 (or more as per project requirements).
1. Application Maintenance & Support Services
Any application needs maintenance after the development to ensure all the deployed functionality will keep working smoothly. Thus, the Blockchain development cost should also include app maintenance and support services.
Therefore, ensure the Blockchain developers you hire also provide app maintenance services, including mobile app upgradation, system maintenance, post-launch support, etc.
Your entire business depends on your Blockchain application; therefore, it is crucial to hire Blockchain developers as per your project requirements.
There are several factors on which the cost of hiring Blockchain developers depends. We hope this blog helped you understand those parameters. So, you have a Blockchain application to develop, send your query to a Blockchain development company, and get the exact price quote.