Blockchain is revolutionizing the business world and is the fundamental reason why terms like cryptocurrency and NFTs make headlines every day. Whether small and medium enterprises or big technical giants, businesses have started looking at the advantages blockchain offers. Gartner has estimated that blockchain could generate as much as $3.1 trillion in new business value by 2030, half of it by 2025, with applications designed for operational improvement. Blockchain for business is a boon to increase efficiency among trusted partners, reduce friction and build better relationships among stakeholders. Since only an authorized person can access the distributed ledger, it ensures security. It helps secure your business with a ledger distributed network providing additional security to the sensitive data. Blockchain makes your business efficient, faster, and transparent. It eliminates the need for intermediaries and thus helps in cost saving on various fronts. It helps remove payment barriers, trust issues, higher cost, and higher transactional time and facilitates autonomy. Blockchain payment solutions open a new market for many business owners and help small businesses connect with the global markets. The use of blockchain is not limited to one sector, and you can find its application in finance and banking, supply chain, gaming, healthcare, etc. In the era of digitization, where data is the key to business growth, blockchain is the tool that helps leverage big data potential to the maximum with utmost security and efficiency. Blockchain enables affordable, simplified, and flexible ways to process payments, access investment, and save products, helping the business grow digitally.

At steady Rabbit, we promise to provide best-in-class services at the minimum cost possible. However, the application cost varies from project to project. This is because each project has different scope and complexity involved. Before you estimate the application cost, you need to ask yourself a few questions. For example, do you need to develop a new application or integrate blockchain technology into the existing application? Do you need private or public blockchain hosting? What kind of security do you need? On which interface do you wish to have your application launched? What additional services do you require after deployment? Etc. Majorly the cost of implementation goes into designing, development, deployment, maintenance, migration, and third-party tool integrations. Various factors decide the cost of application development. For example,

 Project complexity: The complexity of the project is defined by the various parameters such as the type of blockchain, purpose of the application, level of security required, transactional speed needed, application interface, platform, etc. The more the complexity of the application, the higher the cost of the project. That’s because more and more efforts will be required to integrate blockchain technology with the application.
Development resources: The cost of hiring a team for application development forms a significant part of any blockchain application development. Few applications can be developed with the in-house team, while in some cases, there are additional requirements of experts outside the organization.
 Type of services: Blockchain has broad applications, and hence services involved in app development vary from one application to another. For example, few applications require a private blockchain network, while few need a public network. Each of these services requires a different level of expertise, time, and effort for development, and hence cost highly depends on the services availed.

Blockchain has wide applications. Around the world, it is used to transform business. Businesses are using blockchain to improve the efficiency of supply chain and logistics operations, revolutionize food chains by making them faster, secure financial institutes like banks, and enhance transparency in transactions. Blockchain helps keep track of everything with minimum to no human intervention. Since it is a distributed ledger, all the transactions in the chain are made transparent. Though the business strategies and the global market keeps changing, technology always have a significant impact on the transformation. And hence, blockchain has grabbed the eyes of many world leaders in recent times. Among various applications and domains, healthcare, supply chain, e-commerce, banking and finance, and digital records have been widely explored, and we provide services in all of them. Within each domain, our services have a huge range that includes smart contract audit and testing, white paper development, crypto wallet development, tokenization development, DEFI development, NFT development, Stablecoin development, ICO development, and many more.

Blockchain is an emerging technology. As the world discovers its applications, the advantages keep adding in. Most of the advantages of blockchain can be linked back to how it works. Being a distributed ledger, it comes with all the benefits of decentralized systems. Let us look at some of the key benefits of blockchain.

 Trust: Blockchain helps to build trust between the stakeholders. Since complete transparency and security are maintained, the involving parties show willingness in business transactions and do not hesitate to share sensitive data. Blockchain performs all the transactions automatically, and thus the need for intermediaries gets eliminated.
 Improved security: Security is one of the most prominent reasons blockchain applications are adopted worldwide. Cryptocurrencies like Bitcoin and Ether are a few examples that can portray the success of blockchain on the security front. Blockchain ensures end-to-end encryption of the data and transactions with limited accessibility to authorized persons. Unlike a centralized system where data is stored in one place, blockchain stores the data in the system's network, which makes it nearly impossible to hack. Blockchain enables tracking and tracing of all the transactions and handles the privacy concerns in a much better way than traditional computerized systems.
 Reduced costs: Blockchain can help reduce operating costs by huge margins. Since it offers complete automation, the need for a manual gathering of data and processing it reduces to a greater extent. This reduces the efforts and costs associated with data collection, data crunching, report generation, and auditing.

 Speed: By virtue of being an automated system, blockchain technology handles data and transactions faster than traditional systems. Additionally, with the elimination of intermediaries, the value chain gets shorter and more responsive.

Blockchain is an encrypted ledger of digital data which is continuously authenticated with each new transaction. The data relating to each transaction is stored in a block linked together in the form of a chain. This brings transparency and efficiency to the system. The data stored digitally is secured through authorizing algorithm, which keeps checking on its authenticity with every transaction, thus building a full-proof network to help provide a secured solution. At steady Rabbit, the client’s interest is our topmost priority. We take stringent measures to preserve the confidentiality of the client and the project and to provide a secured solution to their needs. Our team of experts ensures all the data is well protected and all the actions are aligned to the interest of the stakeholders.