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Top Blockchain Development Companies to Consider in 2024

27 Dec 2023 updated
11 min

Table of content

Blockchain took the world by storm a couple of years ago, urging companies to move faster with digitalization and embrace new technologies for business success. There’s a great promise behind blockchain use, without a doubt: it comes with improved transparency, decentralization, and brand-new ways of transacting among users and financial institutions. 

This turns blockchain into a huge market evaluated at $10bn in 2022, which is projected to grow at a CAGR of 87%+ in the coming years, translating into a market size of 1+ trillion in less than 10 years. Thus, the demand for blockchain software continues to skyrocket, and more digital businesses look for blockchain software development providers day by day.

Yet, deciding to launch a blockchain-based product is a serious one, and the project’s fate depends on the quality of your service provider. The team you choose to work with can make or break your business idea, turning it either into a huge money waste or a winning, profitable solution. Here, we discuss the principles of blockchain development agency selection and present a list of top companies to work with in 2024 and beyond. 

Why Blockchain Development Matters in 2024

The innovative blockchain technology offers many unique benefits to users and businesses, so it has quickly acquired many interesting use cases in different areas, such as: 

  • Healthcare; 
  • Governmental operations; 
  • Media; 
  • Banking; 
  • International payments; 
  • Real estate; 
  • Supply chain management, and many more.  

The universality of blockchain applications comes from the use of self-executing, programmable smart contracts. They remove the need for intermediary oversight and reduce the commissions for transactions while adding transparency and user safety to the process. 

While initially associated only with cryptocurrencies, blockchain and its underlying distributed ledger technology (DLT) have quickly found many other uses: 

  • Blockchain-based international payments (e.g., Santander One Pay FX launched on the basis of Ripple). 
  • Systems for equity swap transaction management in the capital markets. 
  • Cross-border trade finance operations. 
  • Transparent accounting and auditing. 
  • Enhanced AML/KYC protection. 
  • Safe and efficient p2p payment projects. 
  • Solutions for tracking energy supply transactions.  
  • NFT games, video streaming, and music platforms in the media and entertainment niche. 

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What to Look for in a Blockchain Development Company 

Choosing the best blockchain development firm among a huge number of candidates may be problematic without a systemic approach. Here are the parameters you should prioritize in the process of service provider selection: 

  • Team size. The number of in-house and remote developers and blockchain engineers is important for large-scale projects or companies planning further scaling of their partnership with a blockchain services company
  • Years in the market. It’s always easier to work with an experienced service provider who has a solid track record and rich hands-on experience with blockchain projects. 
  • Industry expertise. Top blockchain companies are the ones that have worked in a variety of industries and have versatile domain-specific expertise, e.g., DeFi, NFT, Web3 gaming, cryptocurrencies, etc. 
  • Supported technologies. You may expect top-tier service from a company that employs a variety of tools and technologies and can seamlessly combine them to produce a state-of-the-art blockchain product for you. 
  • Pricing. Leading blockchain companies are not the ones with the highest quotes but the ones that can ensure a perfect balance of price and quality in their software solutions
  • Portfolio. A portfolio review is a mandatory assessment step, as it gives a glimpse at the firm’s previous projects and allows a practical evaluation of the provided software. 
  • Reputation in the blockchain app development market. It is imperative to choose a trustworthy company with many positive reviews for collaboration; acting otherwise equals buying a pig in a poke (and given the skyrocketing blockchain development costs, that pig may cost you a fortune). Thus, we recommend studying reviews and testimonials, contacting the company’s previous clients, and conducting a broad online search for unbiased reviews of real clients to make the final decision. 

Criteria We Used to Hand-pick Top Blockchain Development Companies 

Following the excellence parameters voiced above, we’ve focused on the following criteria when compiling our list of top 5 blockchain companies worth working with in 2023: 

  • Year of foundation. 
  • Team size. 
  • Range of supported technologies and industries.  
  • Service cost. 
  • Reputation. 

Top 5 Blockchain Development Companies in 2024

Here are the results of our thorough market research and blockchain service provider evaluation. 

1. 4IRE 

4ire top development company

Year founded: 2010

Employees: 250+

Rating on GoodFirms: 5.0 

Rating on Clutch: 4.8 

Domains: Blockchain, FinTech, banking, healthcare, real estate, AI/data science  

Projects completed: 200+ 

Location: Ukraine, Sweden, Malta, Canada, Portugal, United Kingdom

Clients: Breaking Equity, Trade Leaf, FICO, Ondo Finance, and Loop. The company is also an official provider of innovative financial software services for the First Abu Dhabi Bank.  

Key leaders: Helen Petraschuk, Yaroslav Tumanov, Andrew Klesov, Gregory Ovsiannykov, Peter Schubenok

4IRE is a reliable blockchain provider with regional offices in Ukraine, Sweden, and Malta, serving clients with state-of-the-art DeFi, Web3, GreenFi, and FinTech software. The company’s team keeps pace with innovative blockchain technologies and is ready to implement custom-tailored solutions meeting all business needs. It also covers blockchain consulting and speeds up clients’ market entry with white-label software products for crypto banks, carbon credit marketplaces, and NFT marketplaces. Customers can receive stellar enterprise-level blockchain software for infinite scaling and top-tier service provision. The company has many successful projects covering Web3, blockchain, NFT, and cryptocurrency domains, among others. 

2. Accubits

accubits top development company

Year founded: 2012

Employees: 250+ 

Rating on GoodFirms: 4.9

Rating on Clutch: 4.4 

Domains: Blockchain, AI development, custom software, mobile apps, web development  

Projects completed: 200+ 

Location: India, UAE, Canada, Norway, Australia, Switzerland, Singapore, Indonesia, Hong Kong, UK  

Accubits is a US-headquartered full-service blockchain and web development provider with a large team of 250+ blockchain experts on board. The company focuses on emerging technologies and serves companies of all sizes and scales, from small startups to Fortune 500 companies. It has created Searchyf (a modern AI-powered analytics solution), RebuildTheChain app (a pandemic management system for governments), and AccuCerts (a blockchain-based certification platform), among others. 

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3. Peiko

peiko top development company

Year founded: 2017 

Employees: 67 

Rating on GoodFirms: 5.0 

Rating on Clutch: 5.0 

Domains: Web & mobile development, blockchain, Web3, DevOps, UX/UI 

Projects completed: 189 

Location: Ukraine 

Peiko is a Kyiv-based full-cycle software development company with numerous awards from Clutch and GoodFirms. It provides web development, IT outstaffing, web design, and blockchain development services to clients worldwide and delivers top-quality software for startups and big digital brands. Its outstanding projects include a mobile app for a cryptocurrency company, Quan2um, a personal finance management app, Myfinance, and the Bitcoin Additional crypto wallet.  

4. LeewayHertz

Year founded: 2007

Employees: 250+ 

Rating on GoodFirms: 5.0 

Rating on Clutch: 4.7 

Domains: AI development, blockchain, custom software, generative AI, AI consulting, mobile app development 

Projects completed: 125+ 

Location: USA 

LeewayHertz is one of the top blockchain technology companies in the USA, catering to clients since 2007 and known for customized software solutions for businesses. It has a large team of AI experts and Web3 developers, delivering full-stack development services in a wide variety of industries. The agency has been at the forefront of IoT and AI development and has won a solid reputation in this area with next-gen solutions and the ability to address technologically complex requirements. LeewayHertz has worked with startups and large enterprises, with Klaytn, Tezos, and Filecoin being among their clients.  

5. Solulab

solulab development company

Year founded: 2014 

Employees: 250+ 

Rating on GoodFirms: 5.0

Rating on Clutch: 4.9 

Domains: IoT, AI/ML, blockchain, cloud solutions, machine learning 

Projects completed: 1,500+ 

Location: India, USA, UAE, Canada 

Solulab provides the full spectrum of development services in the fields of cloud-based software, IoT, blockchain, AI, AR&VR, and machine learning, among others. Its industry coverage extends over 25 various sectors, from healthcare to ecommerce, with Goldman Sachs, Mercedes Benz, and Walt Disney being among its clients. The company’s engineers also offer extensive expertise in the area of crypto and blockchain; Solulab created an NFT-based multi-sports game, SportVerse, on the basis of Ethereum and collaborates with ZebPay, Spherium, and DocTrace. 

Emerging Trends in Blockchain Development

The blockchain industry is evolving very fast, and the leading blockchain development service providers need to keep pace with this process to enjoy the status of industry leaders. Here are a few trends you should keep an eye on: 

  • Increasing blockchain integration in business operations. The times of blockchain’s association exclusively with cryptocurrencies are long gone. Businesses introduce blockchain-based functionality into their apps and systems to take advantage of transparency, decentralization, advanced encryption, ultimate user privacy, and automatic smart contract execution in a variety of their activities. 
  • Growing number of use cases for NFTs. NFTs had a boom a couple of years ago, but their use stretches far beyond investment and trading. These cryptographic tokens have a unique ownership stamp, which allows their application in a variety of industries, from healthcare to real estate. Thus, the NFT technology is increasingly used in many spheres to allow traceability and security of operations with various items. 
  • DeFi integration with traditional banking solutions. The most appealing use case for blockchain is global finance; blockchain-based solutions are safe and decentralized, giving more people access to financial resources and lowering transaction fees. Thus, we’re sure to see many more DeFi solutions in the growing blockchain-based financial sector. 
  • AI and blockchain use. AI and ML power many digital operations today, and they go hand in hand with blockchain. Businesses can harness the power of these innovative technologies and combine their capacity to make data-backed business decisions in real-time. 
  • Metaverses. The potential of metaverses is far from explored, with many new products stretching beyond gaming. Overall, metaverses represent a broad range of business applications that forward-looking companies can embrace at the early stage of metaverse industry formation. 
  • Cross-chain interoperability. Non-compatibility of various blockchains is the major bottleneck for broader blockchain ecosystems. Thus, the present-day developer community works on building bridges and making cross-chain data and asset transfers safe and frictionless. These advancements are sure to encourage wider blockchain adoption in more industries. 

Conclusion

Studying the full spectrum of existing blockchain app development companies may be hectic and time-consuming. Every crypto development company tries to stand out from the crowd of similar providers by offering something different. Thus, you should formulate your goals clearly at first, focusing on what matters the most for you – whether it’s a specific tech stack, the absence of time difference, or the pricing range. Use your priorities as the guiding criteria for choosing a blockchain developer, and always do your due diligence to understand who you will be dealing with.

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