8 Largest Blockchain Development Companies in 2021

The world is waking up to the potential of blockchain technology. In April 2021, Statista released a forecast that global spending on blockchain development solutions can reach 6.6 billion USD by the end of the year. It's a 46% increase compared to 2020. According to the same forecast, by 2024, spending on blockchain solutions can triple, reaching 19 billion USD by 2024.Why is this happening? Blockchain technology has the potential to shake up everything from financial services to online retailers to casinos to media organizations. With blockchain, transactions become transparent and trustworthy, so we can reduce theft and fraud or avoid it altogether, and businesses and their customers can work on a more level playing field. So it's not surprising that more businesses than ever are turning to specialist blockchain development companies for expert support and custom solutions tailored to their needs. To help our readers choose from the wide selection of partners out there, we've listed the 8 largest blockchain development companies (in no particular order), which will serve as a guide as you embark on your search for the best company to build your blockchain app. Let's dive in.

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#8 SotaTek

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In 2021, SotaTek celebrated its 6th anniversary. They employ 500+ professionals in various areas of IT. Blockchain is one of many services they offer, including Web/Mobile Apps, Blockchain, AI & Machine Learning, and Odoo ERP. Headquartered in Vietnam, SotaTek also has offices in Japan and the U.S. and works with clients worldwide. In 2019, SotaTek received a Top Asia-Pacific Accelerators Award from Business APAC. In 2020, they became a trusted partner of Vietnam's Government in major IT projects and blockchain solutions.99% of their developers are based in Vietnam, making their services among the most affordable in the market. Their hourly rates for developers (non-blockchain) start at $25, and they work with projects as small as $5,000. Therefore, if you are a small startup on a budget, SotaTek could be a good fit for you. Although Vietnam is a relatively new player in the blockchain arena, making it challenging to find experienced developers, the adoption of the technology is increasing, with the State Bank of Vietnam researching and building a cryptocurrency development and management mechanism, following the assignment by the PM.

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#7 Ethworks

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Founded in 2017, Ethworks is a boutique blockchain company employing around ten developers, with its head office based in Poland. Their primary focus is on SMEs and small to medium-sized projects, and their clients include names like Polkadot, Ethereum foundation, Golem, Bitcoin.org, etc. The Founder, Marek Kirejczyk, has been a part of the blockchain community since 2013, and for the past three years, he has focused primarily on Ethereum. He is also an open-source contributor, leading the advancement of libraries like Waffle, ethereum.rb, UniversalLogins. Marek is a regular speaker at blockchain-related Ted Talks and a co-organizer of Ethereum Meetup in Poland. The size and the focus of Ethworks make them an excellent fit for Ethereum-based projects for SMEs. Their hourly rates range from $100 to $150.

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#6 Ragnarson

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If you are a startup based in Europe that needs to build an MVP - Ragnarson could be a solid choice for a software development partner. Although blockchain is not their primary focus, their tech team is behind some top European startups, such as HeyJobs.co, GrowthMentor, Vehiculum.de, Verivox.de, BookingSync.Ragnarson specializes in building MVPs, supporting startups with VC discussions, and creating their initial product to go to market. Moreover, Ragnarson established a fund that invests in early-stage startups and offers them free software development services. They also offer team augmentation and recruitment of developers for startups. Ragnarson's hourly rates for software developers range from $50 to $99+.

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#5 Applicature

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Applicature is a blockchain development company with offices in Silicon Valley and Ukraine. They are a good example of a blockchain development company that looks for different partnerships to be able to create an ecosystem around blockchain technology by positioning themselves as a "Full circle blockchain innovation agency." They focus on larger blockchain projects and strategic consulting on blockchain implementation. Applicature offers turnkey tokenization services. From marketing and technical strategy - to blockchain architecture and investor dashboard. They have also developed their own ETH PoS. Applicature started to officially exist in 2017. Their co-founder, Ian Arden, is a true computer science expert. He served as the chief developer for projects like Elysian, Mosaic, Venture Aviato, Bridge Mutual, ClinTex, and many more. The minimum project budget is $25,000, and their hourly rates start at $200, making them a better fit for larger projects and bigger, more established businesses.

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#4 AppStudio

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AppStudio is a mobile app development company based in Canada and has been on the scene for more than a decade- specializing in powerful web and mobile app solutions. However, they also have an extensive blockchain development team. They are probably one of the oldest players out there and have collaborated with a variety of clients, from Fortune 500 companies to startups and mid-sized firms. AppStudio's clients represent a whole spectrum of industries, ranging from on-demand services to healthcare and finance. Most of their customers come to AppStudio for the development of mobile apps.AppStudio has offices and innovation labs across North America and employs 40+ developers, with 10-15% working in blockchain. Hourly rates for developers (non-blockchain) start from $50, and the minimum project size is $25,000+, making AppStudio more suitable for larger companies.

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#3 Crypton Studio

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Crypton Studio is a European blockchain development company based in Riga, Latvia, with a second office in Tomsk, Russia. Since 2016, they have worked with 100+ startups and enterprises from 12 countries and helped them integrate blockchain into their business processes. Crypton Studio's main focus areas are smart contracts, mobile wallets, exchanges, custom blockchains, tokenization platforms, and payment gateways. One of their most significant projects was Decimal, a blockchain platform that enables the release and use of custom coins. Decimal allows you to create your currency, become a validator or perform transactions with existing coins in the market. With hourly rates starting from $40 and a minimum project size of $10,000, Crypton Studio is an excellent fit for small businesses and startups on a budget.

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#2 Ideas by Nature

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Headquartered in Denver, CO, Ideas by Nature was founded in 2011 by a small team of entrepreneurs, strategists, designers, marketers, developers, and leaders. Their CEO, Phillip Cowan, is a senior programmer and a branding professional with over 30 years of experience. Phillip created designs and illustrations for brands like Pixar, Disney, and Universal Studios. After working for several years in commercial design, he delved into Web Interfaces and Apps Architecture, which took him to blockchain development and object-oriented programming. Ideas by Nature has a small team of 20+ professionals, including designers and developers, specializing in branding, UX design, and the development of blockchain apps. Additionally, to advanced software development, they offer custom designs and solutions. This blockchain development company charges $100-$150 per hour for its services and features small businesses, startups, and enterprises among their customers. If your blockchain project has a complex design or you need sophisticated visualizations - Ideas by Nature might be the right partner for you.

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#1 Rapid Innovation

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Rapid Innovation is a rising star in the blockchain development space. The company was founded in 2019 by experienced entrepreneurs and developers (informally referred to as “crypto OGs” in the space). The CEO, Jesse Anglen, has over ten years of experience working with entrepreneurs in the tech startup arena. His focus throughout these years was on software development in the blockchain industry. Rapid Innovation employs a boutique but highly professional team of blockchain developers and designers.

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Focus on excellence

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This blockchain development company focuses on excellence and delivering its promise "from concept to launch in 90 days or less." As a result, they hand-pick their projects and clients to ensure that they maintain consistent quality and empower their clients to get the most out of blockchain's potential. Rapid Innovation is headquartered on the west coast of the United States and India. A satellite office in India gives them access to world-class blockchain developers in the country where this technology has gained wide adoption much before Europe or other Asian countries. Therefore, the talent pool is more diverse and experienced than anywhere else. Moreover, thanks to the lower cost of living, even highly skilled Indian developers will not deplete your budget.

‍Rapid Innovation charges USD 107/ hour for building beautiful, user-centric mobile and web apps integrated with blockchain technology. Since its launch a bit more than two years ago, Rapid Innovation built over 30 blockchain apps and grew its core team of full-time blockchain developers to 125 industry professionals. Rapid Innovation loves creating beautiful apps that are easy to use and include blockchain technology. The advantage is that they do it faster, less expensive, and better than many others. Whether you are a small startup looking to develop an MVP or a larger company that wants to build a complex app - Rapid Innovation is there to make blockchain technology more accessible and affordable to all.

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Conclusion

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Building blockchain apps used to be something only cutting-edge developers could do. But no more. It's time for a revolution. In the modern world of fast-developing technology, the choice is to adapt and innovate or be doomed for failure. This article highlighted the eight largest blockchain development companies that can help you take your project from idea to execution. It's up to you to choose the one that suits your budget and needs. Remember always to check the reviews, read about the CEO's background, and study their portfolio and developers' profiles. It’s essential to ensure that the company employs developers full-time because if they rely on freelancers, it can be challenging for them to consistently deliver quality over a long period.

A famous saying states, "the best time to plant a tree was 20 years ago. The next best time is now." In the fast-evolving world of blockchain technology, we think the same.