Firms worldwide find more and more perks that blockchain application development can bring. Nevertheless, once you determine to rely on it, try to answer this critical question: Should I invest in internal blockchain development or outsource the task? Ahead, we are answering that question.
Pros and cons of investing in internal blockchain application development
There are some main downsides and upsides to in-house that you can reference here:
As to the pros, one of the significant benefits is the technical independence of the project. That every main technical competency stays within the corporation boosts the possibility of maintaining your services/ products as time goes by.
In terms of cons, it is hard to disregard the headhunting factor, for example. Though your firm has spent substantial amounts of money on scouting, recruiting, and training in-house specialists, this cannot warrant that you will not leave you. In the end, you will have to invest in new staff again from the beginning.
Who benefits from internal blockchain application development?
Getting an internal team is ideal if you intend to work on huge product development. For instance, Polkadot is a super scalable product interacting with an assortment of current networks and new projects. That is why it will certainly need continuous maintenance by an extra-large team of developers.
Pros and cons of outsourcing the task
There are some main downsides and upsides to outsourcing that you can reference here:
For instance, talking about the pros, you will reap benefits related to Time To Market (TTM) index. Usually, an outsourced agency for blockchain application development provides a well-trained and experienced team that is all set to get the job done. This means that time-consuming recruitment processes are unnecessary. With plenty of effort and time saved, you can speed up the TTM process.
When considering the cons, some companies show concerns over the lack of in-house expertise. Still, this may not be so crucial if the innovation of your company does not mainly focus on engineering itself.
Why outsource the task?
This is highly recommended for:
- Baby startups on a budget
- Implementing Blockchain as a service (BaaS)
- The company that desires to use the blockchain solution to enhance their business model
- Advanced solutions in a super rapidly developing field, for example, decentralized finance development
Invest in internal blockchain application development or outsource the task? A hybrid model
It is a great idea to account for a hybrid model (meaning a smooth combination between your internal team of blockchain developers and outsourced ones. This way, the planning and analysis process becomes more seamless and efficient. Further, turning to the model helps with decisions on which tasks to assign to which team, thus assisting in fine-tuning the blockchain application development process while working out the cost optimization concern.
As one of the cons of the hybrid model, there are likely challenges in connecting outsourced developers with your workforce, say cultural differences, time zone, and linguistic communication barriers.
In conclusion, we hope you better understand blockchain application development for your projects after reading through this post. For more information, contact SmartOCS.
Contact us if you have any queries about Blockchain development services.