Blockchain Development Services

What blockchain is

Blockchain is a cutting-edge system for storing and transmitting information in the form of a chain of consecutive blocks containing transaction records. Blocks are included in the single database that is updated automatically after every new transaction. This database runs simultaneously on thousands of computers (nodes) so that each computer always has up-to-date information. Such an approach helps achieve decentralization — when everything operates without a ‘main server.’

The primary principle of blockchain is that each transaction is transparent. Every participant can view any transaction for any period, and at the same time, no one can edit or remove any transaction. Each block of this ledger contains information about the previous block. This is why it’s impossible to edit data in a specific block retroactively, since it would affect all the previous blocks up to the first block called the genesis block.

At the dawn of its emergence, the technology was only used for cryptocurrencies. Later on, it found application amongst insightful banks. Today, the system keeps making its way into our everyday lives. Platforms for developing blockchain apps for businesses can monitor copyright compliance, product manufacturing processes and standard observance, not to mention controlling any financial operations.

Benefits of blockchain-driven solutions

Implementing a blockchain solution is a strategic decision that can take your business to an unprecedentedly high level. Utilising its opportunities, not only will you optimize your processes but you will also modernise them, increasing security and transparency. Here’s a brief list of benefits you will get:

• Better security. Cryptography and decentralization ensure the highest possible level of security, protecting your data from unauthorised access and counterfeiting.
• More transparency. A distributed ledger provides transparency across the network, building stakeholder trust.
• Data integrity. Uneditable records ensure data integrity, which makes them a reliable source.
• Streamlined processes. Smart contracts automate processes, reducing the need for intermediaries and accelerating transactions.
• Cost efficiency. Eliminating intermediaries, reducing errors, and automating tasks result in great savings.
• Opportunity for innovation. Introducing blockchain solutions opens the door to pioneering business models and income sources that help you stand out from the crowd.
• Customer trust. Leveraging financial technology increases your brand’s credibility and builds customer trust.

Implementing blockchain into your business is not just an upgrade; it’s a transformation. Every benefit will become part of your company, ultimately shaping a more competitive future. As experienced developers, we strive to utilise these strengths to create unique solutions that align with our clients’ business goals.

Blockchain app development services

Developing blockchain projects requires not just programming language skills but a deep understanding of cryptography and how decentralized apps work. The journey from concept to realisation can be very challenging. And this is where professional blockchain developers come into play. They can not only simplify the journey, but also maximise the benefits for your company.

Polygant has been developing blockchain apps for businesses for 10 years. Contact us, and we will help you create your own cryptocurrency, crypto wallet, or crypto exchange.

Creating cryptocurrencies

There are two categories of cryptocurrencies: coins based on proprietary blockchains and tokens operated by third-party blockchains. Stablecoins, which are backed by assets and pegged to their value, are referred to as tokens.

To develop a coin, we take the actual source code, make the necessary changes, and compile it. As a rule, the development process consists of 5 stages:

1. Drawing up the terms of reference.
2. Compiling the coin core and the wallet for Windows and Linux.
3. Deploying full nodes.
4. Creating a blockchain explorer and mining pool.
5. Developing web and mobile wallets.

To develop a token, we create a smart contract and deploy it in an existing blockchain. Here are the most popular token issue platforms:

• Ethereum
• BNB Chain
• Polygon
• TRON.

Developing crypto wallets

A cryptocurrency wallet is an application or program that allows you to interact with the blockchain. With it, you can check balances, view transaction history, receive and send transfers. In this context, a transfer is a situation when one hands over the rights to the cryptocurrency to another user. In fact, this cryptocurrency stays in the blockchain and only changes its owner.

A crypto wallet resembles a bank account intended for cryptocurrency transactions. It shows how many coins there are on your address, from where you received them, where you sent them. Multicurrency wallets display the coin rate to other cryptocurrencies and allow you to exchange them.

We develop the main types of crypto wallets:

• Custodial and non-custodial
• Web, mobile, and desktop.

Developing crypto exchanges and P2P platforms

A cryptocurrency exchange is a trading platform where users sell, buy, exchange coins, tokens, and stablecoins. It brings together sellers and buyers, keeping deals secure. A crypto exchange runs on a trading engine that checks if the orders placed are asset-backed, keeps the order book, and prepares data for displaying in the web or mobile app.

A P2P platform is a service where cryptocurrency buyers and sellers can interact directly, without involving any third party. This service only selects ads, reviews them and their creators, and provides escrow accounts. Unlike crypto exchanges, which are subject to strict rules and requirements, P2P platforms are more loyal to users.

We develop cryptocurrency exchanges and P2P platforms from scratch, as well as implement additional sections and products into existing services:

• Portfolio of crypto assets
• Launchpad for crypto projects
• Native token and stablecoin
• Referral programme.

Developing smart contracts

Smart contracts are used in fields where it’s possible to set up automatic, unmanned fulfilment of obligations by counterparties. A smart contract tracks whether the stipulated conditions were fulfilled. And blockchain technology protects its code from any tampering. No malicious person can change the code that contains the terms of the agreement between the two parties.

Decentralized apps are created based on smart contracts. Blockchain-enabled smart contracts ensure the fulfilment of obligations related to crypto products, make them secure, and provide a protected payment system for cryptocurrencies.

We develop smart contracts used for:

• Issuance of tokens and algorithmic stablecoins
• Oracles and prediction markets
• Staking and farming
• Decentralized exchanges and automated market makers.

Developing DeFi projects

Originally, decentralized finance was a name for the analogues of traditional financial instruments that are implemented in a decentralized architecture. Today they have grown into a widely available ecosystem consisting of decentralized apps based on public blockchains.

DeFi’s goals are to build a financial system that would be open to everyone and wouldn’t require user trust, as well as to promote the self-sufficiency principle. Conservatives consider this principle a disadvantage, but it teaches them to take responsibility for DeFi investments.

Here are the popular types of DeFi apps that we develop:

• Algorithmic stablecoins
• Decentralized exchanges
• Decentralized autonomous organizations
• Liquidity pools
• DeFi lending platforms
• DeFi insurance platforms.

Conducting security audits

Observing high security standards and resisting DDoS attacks is the cornerstone of any blockchain service. There have been hundreds of cases where attackers would either knock services out for keeps or steal millions of dollars worth of coins.

If you run a blockchain service, security should be your primary concern. We will audit your service to identify bottlenecks and help you reinforce them.

Cost of blockchain project development

Customers often ask us how much developing a blockchain-based project will cost them. Asking such a profound question, they only provide a couple of lines of description. It’s barely possible to estimate the project cost based on such scarce input data. However, we can give you some approximate costs of blockchain projects:

We can calculate the exact project value if you give us detailed terms of reference. It will help us estimate how many hours we will need to develop the project and calculate the total cost by multiplying the number of hours by the rate. The average rate of blockchain developers is $50 to $70 per hour, but it may reach $100 in some cases.