What is Private Blockchain Development?
A private blockchain is usually permissions and controlled by a single organization distributed ledger, accessible to a limited number of individuals and organizations. These types of solutions are frequently employed by medium and large companies, providing transparency, security, and high-performance storage within the organization.
When Do You Need Private Blockchain Development?
A private blockchain solution can serve your organization when:
- You're building an enterprise application accessible only to your organization and partners.
- You require full transparency, data traceability, and auditability.
- You need absolute certainty that stored data remains unmodified.
- You must manage, access, and analyze vast amounts of data efficiently.
How Much Does Private Blockchain Development Cost?
Creating a private blockchain requires a substantial investment of time and resources—it is a project that would need several months of work from a dedicated team of developers. Anticipate costs upward of $200,000. However, the medium to long-term benefits make it a worthwhile investment. Implementing a private blockchain can significantly reduce costs associated with your IT systems administration, monitoring, and auditing.
How Does the Private Blockchain Development Process Work?
Our approach to private blockchain development includes:
- A discovery call to understand the goals of your project.
- Signing a non-disclosure agreement (NDA) to ensure the safety and security of your intellectual property.
- A workshop or specification review to identify project requirements.
- Based on these specifications, we provide an estimate along with a timeline.
- After signing the agreement, we commence work on your project, providing complete visibility and transparency throughout the process.
Why Choose Neti for Private Blockchain Development?
Choosing the right team for your blockchain development can make the difference between success and costly mistakes. Here's why Neti should be your top pick:
- Proven Experience: We have over four years of experience in blockchain application development.
- Expertise: Our team has a wealth of experience building Layer 1 blockchains based on leading protocols such as Hyperledger, Cosmos, and Polkadot Substrate.
- Accountability: We stand behind the quality of our work and take responsibility for the results.
- Support: Our CTO provides constant oversight on projects of this scale, ensuring the highest level of quality and performance.
Minimize Mistakes and Risks in Building Your Private Blockchain
Ready to leverage the power of blockchain for your business? Avoid the pitfalls of blockchain development by entrusting your project to our experienced team. Feel free to contact us to learn more about how we can help you build a tailored private blockchain solution.
