Blockchain Development Company vs Freelance Developers Which Should You Choose

Blockchain is everywhere! From finance to healthcare, the contribution of this technology is incredible. It has created a massive demand for experts who can design and implement decentralized business solutions.

And, if you are also planning a blockchain project, your key confusion might be whether to work with a blockchain development company or hire a freelance blockchain developer.

Well, both options have their benefits but this specific choice can have a strong impact on the success of your project. So, how about we help you clear this confusion?

What is the difference between blockchain companies and freelancers?

The foremost thing to understand while deciding the best choice between the two is to understand them both and the difference between them.

A blockchain development company is a structured organization that offers a range of blockchain development services. If you want to look for a one-stop destination, generally most of them give 360-degree services from consultation to maintenance and support.

Their team involves developers, designers, and project managers who deliver you a polished end product from A to Z without having you worried about anything. You get the surety of everything, as the majority of them are legal and registered companies.

On the other hand, freelance blockchain developers are independent professionals who do have strong expertise in blockchain. It is to note that freelancers mostly handle smaller projects or specific parts of a large project as they lack the resources and dedicated teams.

However, if you are quite experienced, you can hire blockchain developers on freelancer for multiple roles like smart contract creation or integrating specific blockchain solutions, designers, etc.

Why Is Choosing the Right Partner So Important?

It is great that you have decided to work on a blockchain solution because the blockchain market is projected to reach $248.9 billion by the year 2029. If we look at the annual growth rate in percentage, it is astonishing at 65.5%.

With such immense growth predictions, the competition is going to be fierce and the demand for quality blockchain development services will be on the rise. You have to choose the right partner who promises you a timely delivery of the project, within the budget, and keeping the highest standards in terms of security and scalability.

Also, as per the industry reports, around 90% of the blockchain projects fail just because of technical inefficiencies or mismanagement of the project. This statistic is itself a highlighter about the importance of choosing a professional blockchain development partner wisely.

The Benefits of working with a Blockchain Development Company

You must be wondering about the benefits that you will be registering if you opt for a blockchain development company. So here they are.

Access to a team of experts

A company follows a proper hiring procedure where they ensure that they hire blockchain specialists who excel in multiple aspects of the blockchain. These aspects can be smart contracts or wallet app development. Having a full team means that there is a scope of diverse programming languages, frameworks, and tools like Ethereum, Hyperledger, and Solana.

Your company will assign a dedicated project manager to look at your project and keep up the communication and alignment of the goals. This level of coordination and freedom to sit relaxed is not visible with a blockchain developer.

Range of Services

Maybe you just want someone to look after your solution by bug fixing and proper updating or you want to have a consultation call to polish your idea; companies provide everything. They have a range of services from design and development to testing, deployment, and post-launch. You can either pick one or all of them in a package that suits your requirements. Also, you are free to pick the desired technology as they have big teams in-house.

Reliable and Accountable Option

You are backed by an organization with clear workflows, legal contracts, and accounting measures. Once they are embarked with you, there is no looking back until you get the final project.

Security and Compliance

For business from the finance and supply chain department, security is one of the biggest concerns. But a blockchain development company ensures it follows the industry standards and applies some best measures like secure APIs, meeting GDPR regulations, and applying best encryptions. Freelancers sometimes do not have the experience or resources to apply such high-level protocols.

Long-term support

Companies are there to make their place in the market for the long term and they are equipped to handle scalable projects. Whether you are starting out or an established company, a blockchain development company meets your needs at every stage.

The case when you should hire freelance blockchain developers

Just like you get ample benefits when you work with a company, hiring blockchain developers on a freelance basis has its own benefits as well. Here are some key ones.

Always a cost-effective option

Freelancers generally charge less than companies, which makes them a very attractive option for new startups or businesses with a small budget. If you need to hire blockchain developer for some decided tasks, like creating a smart contract, a freelancer can be an affordable choice.

Freelancers are flexible

Most of the freelancers work from their home office and can be available at multiple times that can fit your schedule. For projects with short deadlines, freelancers can be a very effective option, as they can deliver you results quickly by organizing their workflows.

Personalized Attention to Project

With a freelance blockchain developer, you are communicating directly with a person who is doing your work. You can take multiple meetings in a day to make faster decisions in between your projects. Whereas companies have a structured workflow and everything follows a system to get approved.

Faster Hiring Process

You pay a token to the freelancer and make a signed agreement; your project gets started. Even finding a freelancer is easy because there are platforms like Upwork, Freelancer, and LinkedIn where a lot of skilled blockchain professionals offer their services.

Best for Short Term

If your project is a short-term assignment, then Freelancer is the best choice. For example, if you need to add specific blockchain functionality to your existing app or conduct a security audit, a freelancer will be the best and in-budget option for you.

Key Factors to Consider Before Making Your Choice

You have seen the benefits of both parties in detail, but there are some important things that you must consider while making your choice.

• Project Scope: Make sure to understand the project’s size and complexity. If it’s large, a company can be beneficial, and if it’s small, it can be handled by freelancers.
• Budget: If you are willing to invest in a polished product, then a company is your best bet, but when your budget is tight, freelancers can be an affordable option.
• Timeline: For entrepreneurs looking for someone very flexible and who can give faster delivery for a short assignment, a freelancer is the way to go. But, if your project is big and requires full resources, only a company can manage it.
• Security: When security is your major concern, it is feasible to go with a company as they have a track record of following best protocols.

Conclusion- Which should you choose?

The straight answer to which you should choose is, “It depends upon your project needs.” We have mentioned the benefits of working with both the parties and then we have also provided the key factors that you must consider while making a choice.

But, to still make it quick, if you want security, resources, and comprehensive services, a blockchain development company will be the way to go. However, if you want a budget-friendly option, quick hiring, flexible individuals, and micro-management of the project, freelance blockchain developers will be effective.