Blockchain is creating waves across various sectors, from the retail industry to supply chain management, with its amazing influence. This has increased the demand for more blockchain developers who can develop and implement blockchain technologies.      

If you are looking to start a blockchain project, you might be confused about whom you should work with. Whether you should hire blockchain developers from a reputed blockchain development agency or work with freelancers. 

Each comes with its own benefits and drawbacks and can hugely influence your project’s success. To help you with this, we have created this blog to guide you on whether you should hire blockchain developers or freelancers.     

Blockchain Development Company vs Freelancer: What’s the Difference?

The very first step to decide which one to choose, whether a blockchain development company or freelancers, involves having a clear idea about what each of them offers and what makes them different from each other. A Blockchain development company is a well-structured company that offers an enterprise range of blockchain solutions. In case you are in search of somebody who offers a one-stop solution, then it would be an ideal decision to hire a blockchain development agency. 

These companies typically offer complete solutions—from first development and consultation to support and any updates in the long run. They typically have experienced coders, UI/UX, and project managers who oversee all stages from the beginning to delivering the project. Moreover, you don’t have to worry about your project as these are officially registered and operate legally.  

Whereas on the other side, freelancers work independently with their strong technical skills in blockchain. They often prefer smaller blockchain projects so they can deliver them in the required time with the required resources. As they work independently, they can not handle the whole project, but just a part of it. But if you have technical knowledge and experience, you can hire blockchain developer freelancer and other freelancers for different project needs.      

How the Right Blockchain Development Agency Impacts Project Success

The blockchain market is evolving rapidly and is expected to grow exponentially by 2033. From crypto wallets to DeFi applications, blockchain is everywhere; therefore, hiring the right development agency for your blockchain project is crucial. If you make a wrong choice, it could lead to increased budget, delays in project delivery, and an incomplete project. Whereas, if you choose a well-known blockchain development firm, it will better help you deliver the blockchain software that aligns with your requirements.  

Advantages of Working With a Blockchain Development Agency

Here we have listed a few benefits you get once you hire a blockchain developer from a well-known blockchain development firm:   

1. Experienced Team Members  

A blockchain development firm usually has a systematic hiring process to bring on board experts with knowledge across all domains of blockchain technology—i.e., smart contract development and creation of wallet apps. Having experienced team members, one gets access to many different services

You’ll also receive a full-time project manager dedicated to managing your project so that you get consistent communication and realignment with your goals. Such levels of organization and comfort are typically not what you receive when you hire an individual freelance blockchain developer.

2. Access to Various Services

Whether you require someone to do bug fixes, carry out routine updates, or just provide a consultation to fine-tune your concept, development firms have you covered. They provide a full suite of services, ranging from development and design to deployment, testing, and post-launch maintenance. You can opt for individual services or go for a whole package designed for your requirements. And since they have large in-house teams, you get the freedom to pick the technology stack most suitable for your project.

3. Reliable Development Choice

You’ll be supported by a professional organization that operates with defined workflows, legal agreements, and structured accounting practices. Once your contract starts with them, they interact with you on every stage until you receive your final product.   

4. Blockchain Security & Compliance

For companies in industries such as finance and supply chain, security tops the agenda. A blockchain development firm follows best practices within its industry, using secure APIs, strong encryption practices, and adhering to regulations like GDPR. Freelancers, on the other hand, may not have the experience or infrastructure to successfully deploy these sophisticated security measures.

5. Ongoing Project Support

Blockchain development firms are built for long-term project success and can handle projects that require scalability. Whether you’re just starting your company or an established enterprise looking to expand, these companies help you achieve your specific goals.

Drawbacks of Hiring a Blockchain Development Agency

Advantages come with some disadvantages. Below we have listed a few disadvantages you face when hire blockchain developers from a well-known blockchain development firm.   

1. Higher costs

Working with a dedicated blockchain firm usually involves a premium price over using a freelancer, primarily due to their tiered pricing and the advantage of having access to a professional, multi-disciplinary team.

2. Less flexibility

Organizations might be less adaptable regarding schedules and procedures since they usually adhere to more formalized systems and guidelines.

3. Limited Personalization Options

Because of their size and focus on working with large customers, blockchain development companies can offer more vanilla solutions with less customized adaptation than what might be available from a freelancer.

Benefits of working with freelancers?

Similar to the benefits you get when you hire blockchain developers from a well-known company, you also get benefits from hiring freelancers for your projects. Here we have listed a few benefits of working with freelancers:    

1. Budget-Friendly Choice

Freelancers typically charge less and usually have lower rates as compared to blockchain development companies, which makes them a budget-friendly choice for startups and businesses looking for blockchain services on a budget. 

2. Flexible Availability

Most of the freelancers work from home and can accommodate your schedule. Freelancers can be highly efficient when there are close deadlines because they are capable of providing solutions within a short time by optimizing their workflows.

3. Focused and Direct Project Support

When working with a freelance blockchain developer, you are able to directly communicate with them on any questions that you have concerning your project. Since they are not employer-employee, you can conveniently arrange the meetings and make decisions quite swiftly.

4. Faster Hiring Process

You can find hundreds of skilled blockchain developers on several platforms such as Freelancer, Upwork, or LinkedIn. 

5. Ideal for short-term Projects

Freelancers are best suited for short-term projects due to their limited resource availability. For instance, suppose you have a complete blockchain project, but you need to add a few more features. For this, instead of going to blockchain agencies for smaller changes, you can hire a freelancer who will do it for you on a smaller budget.