SoluLab’s FlexiWorks System – A Flexible Approach For Our Clients
As a business, we understand that plans do change. SoluLab has adopted a flexible approach for our clients where we are completely fine if the plans get changed. Join hands with us where development isn’t bounded!
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SoluLab’s FlexiWorks System
Why is flexibility in development so critical to success?
75% of successful startups pivoted from their original founding idea. Many pivoted to a completely different concept.
Examples of startups that pivoted
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Started out as a video dating site and completely changed their model to let users upload video and become the #1 source of video on the internet.Sold to Google for $1.65 Billion
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Started as location-based service called ‘Burbn’, most comparable to Foursquare pivoted to become a social photo editing app. Today there are over 300m+ active users.Sold to Facebook for $1 Billion
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Used to be a social good fundraising site called ‘The Point’. Changed their concept to local deals: if enough people pledged to do an activity, they would unlock a discount on it. Peak Valuation: $25 Billion
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Started as Confinity, a cryptography company designed for exchanging money over Palm Pilots. Pivoted to the lucrative market space of enabling people to take credit card payments online. Acquired by eBay for $1.5 billion
How SoluLab helps you evolve, innovate and improve your product during development.
FAQs
By providing a secure and tamper-proof method for recording and tracking digital transactions, blockchain technology is revolutionising industries all over the world. It has the potential to create new opportunities for growth and innovation as well as to upend conventional business models. The future of digital transactions is blockchain. It will eliminate the possibility of cyberattacks and fraud, making the app 100 times more secure if it is incorporated into its development.
Blockchain applications extend far beyond Bitcoin and cryptocurrency. Technology is affecting various industries in ways ranging from how contracts are enforced to making government work more efficiently. It is able to increase transparency and fairness while also saving businesses time and money.
The most important applications of a blockchain are the following:
- Money transfer
- Smart contracts
- Internet of Things (IoT)
- Personal identity security
- Healthcare
- Logistics
- Non-fungible tokens (NFTs)
- Government
- Media
The trustworthiness, security, transparency, and traceability of data shared across a business network are all improved by blockchain, as are cost savings and new efficiencies. A shared, immutable ledger is used in blockchain for business, and only members with permission can access it.
To learn more about how blockchain can be used in your industry, read about how it provides these advantages.
- Greater openness.
- Improved security.
- Enhanced traceability.
- increased speed and effectiveness.
- Reduced expenses.
- Applications of blockchain across industries.
The distributed ledger technology used by blockchain ensures that all transactions and data are recorded consistently across all locations. Full transparency is provided since all network users with authorization access see the same data concurrently. Every transaction is permanently recorded and has a time and date stamp.
Information is essential to business. The faster and more precise it is received, the better. Blockchain is the best technology for delivering that information because it offers instant, shareable, and fully transparent data that is recorded on an immutable ledger and accessible only by members of a permissioned network.
Blockchain is a decentralised, immutable database that makes tracking assets and recording transactions in a corporate network easier. An asset may be physical (such as a home, car, money, or land) or intangible (intellectual property, patents, copyrights, branding). In a blockchain network, practically anything of value may be recorded and traded, lowering risk and increasing efficiency for all parties.
Simply, everyone owns blockchain technology, even though no one owns it. This is one of the distinguishing characteristics of blockchain technology, and because of the shared accountability and ownership, blockchains are extremely safe and immutable.
The development cost relies on several variables, including the application industry, the difficulty of the project, and the type of app you are requesting. Hence, the price of developing a blockchain app might range from $30000 to $90000, depending on these variables.
Blockchain offers immutability in the chain of records or blocks before starting the stages of blockchain development. The blockchain’s blocks hold documents, transactions, and related information. Moreover, hashes are used to pair the blocks with one another. Before beginning blockchain development, it is crucial to have a thorough understanding of the fundamentals.
The necessity of creating a blockchain from the ground up is the next issue related to blockchain development. Depending on the project’s complexity, a blockchain development process can take months or even years. On the other hand, forking can be used to develop blockchain solutions using open-source blockchain platforms currently on the market.
The steps involved in creating a blockchain application are shown below in chronological order:
- Ideation
- Picking of Blockchain Platform
- Identification of Other Technology Stacks for the Application:
- creation of prototype or proof-of-concept
- visual and technical designs
- Creation of Blockchain Apps
- Deployment, Upgrading, and Maintenance of Blockchain Apps
Blockchain platforms are entities with complex and powerful scripting languages that may be used to generate and administer a variety of Web3 tasks, such as but not limited to NFTs, the beginning and completion of transactions, and the development of smart contracts.
In reality, smart contracts are regarded as the first application of a blockchain platform other than a cryptocurrency, and that application was Ethereum.
As is the case with several cryptocurrencies, many blockchain platforms are created by and supported by nonprofit foundations.
Our blockchain developers, who work for a prominent blockchain development business, have experience working on the:
- Ethereum
- Hyperledger Fabric
- Hyperledger Sawtooth
- Hyperledger Indy
- Tron
- Stellar
- EOS
- Corda
The distributed ledger and its immutable record of transactions are available to all network users. With this shared ledger, transactions are only recorded once, preventing the redundant work that is typical of conventional commercial networks.
The Foundational Elements of a Blockchain Network:
- Distributed Ledger.
- Peer-to-peer network – P2P.
- Consensus Mechanism.
- Cryptography.
- Virtual Machine.
Solulab is a certified blockchain development company building industry-disrupting decentralized education platforms and applications that operate autonomously without any middlemen interference. Choose Solulab for launching ICOs and working with ahead of the curve advanced technologies.
Top-Notch Assurance: We excel at developing a top-notch blockchain-based educational application without compromising quality.
Improved Security and Privacy: We offer enhanced security with an unalterable record of transactions with end-to-end encryption, which shuts out fraud and unauthorized activity.
Transparent Business Model: We are transparent in all our operations and encourage clients to be participative.
Configuring Automation: We use the internet of things (IoT) to enhance and configure the interoperability of smart education.
Client-Centered: We respect all your ideas, concepts and requirements for your business and change your dreams into reality.
24 x 7 Support: Our blockchain specialists provide you with 24X7 support and maintenance. Train & support migration of your system admin and employees to use the blockchain platform for instant data sharing.
Reduce Data Storage: Our amazon and multitude of cloud service choices provide you with serverless accessibility.
The following tech stack is considered ideal for the development of blockchain education platforms.
Machine Learning: Machine learning integration is helpful in improving the security of the distributed ledger of the blockchain. Also, the computation power of ML is used in the reduction of time taken to find the golden nonce and make the data sharing routes better.
Ethereum: Enables developers to build and deploy decentralized applications.
Hyperledger: A shared ledger that utilizes cryptography and supports smart contracts.
Solidity: A statically-typed programming language designed for developing smart contracts.
Truffle: Act as a developer environment and testing framework for blockchain technology.
R3 Corda: Open source blockchain designed specifically to meet the demands of modern-day businesses.
Ripple: Provides one frictionless experience for sending and receiving money globally.
Quorum: Platform that addresses specific challenges to blockchain technology adoption within the financial industry and beyond.
IOTA: Open-source distributed ledger built to power the Machine Economy through fee-less microtransactions and data integrity.
Blockchain technology has the potential to significantly benefit education by providing high security, low cost, improving student assessments, better control of data access, increasing accountability and transparency, identity authentication, increasing trust, and improving the efficiency of student records, management, assisting learners in making career selections, and increasing learner involvement. The use of blockchain ensures the confidentiality and privacy of data and transactions exchanged between the intended parties.
One of the great features and benefits of blockchain is restricting/controlling the access of the stored records. Educational records include transcripts, diplomas, or personal students/teachers’ records. Additionally, the blockchain assures the authenticity of the digital certificates as well as the identity of users.
Furthermore, the education field can greatly benefit from using the blockchain to reduce costs. The cost includes storage costs, associated transaction costs, and the cost of managing and maintaining the educational records. Moreover, enhancing accountability and transparency are two advantages achieved when using blockchain technology. Storing all educational or school records in one place, where they can be easily accessible, will increase the accountability and transparency of using such records.
Blockchain adoption in education could assist increase the efficiency of the school ecosystem and optimise the utilisation of people and physical resources. Concerns like data privacy, cost, scalability, and interoperability with older systems will have to be addressed in the process. It is well worth the money since it will help users in a more secure, transparent, collaborative, creative, and future-ready educational system that can handle increasing enrolment.
Blockchain technology can provide a great framework for managing student records from ranging day-to-day information like assignments, attendance, and extracurricular activities to information about degrees and universities they’ve attended. It would be a secure system that ensured the integrity of educational records. Similarly, information on teachers can be carefully preserved, allowing an educational institution to keep track of their performance. The blockchain ledger would give a time-stamped and tamper-proof record of faculty performance — attendance, student evaluations, number of students choosing electives, research output, and publications. These recordings could be linked to faculty evaluation systems, resulting in increased accountability. A blockchain ecosystem can potentially be utilised to create a scholarship system that rewards students for maintaining consistency and academic performance.
We at SoluLab make use of distributed ledger technology or DLT and smart contracts for the purpose of implementing blockchain for mortgages. It would be great to let us know your specific requirements, and we can work accordingly.
You should choose SoluLab for blockchain development in the mortgage industry because of the following.
- SoluLab has an outstanding of highly proficient blockchain developers
- Hands-on experience with blockchain development for the mortgage industry
- Our team is up-to-date with the latest tools, technologies, and trends in the industry
- Affordable pricing structure
- Quick turnaround time
The major benefits of blockchain development for the mortgage industry are listed below.
- Readily speed up the transaction time
- Make settlement more rapid and hassle-free
- More accurate keeping of records
- Buyers’ cost is lowered
- Verification of the chain of title becomes easier
- Implementation of smart contracts
Blockchain technology can be used for mortgages to give them a complete makeover. It can increase the efficiency of the whole process, making it easier and more convenient for all the parties involved. With the help of blockchain mortgages, the data or information needed to assess as well as approve the loan application would be stored in a highly secure manner on a network where these ledgers would be automatically updated and that too in real-time.
We offer private blockchain, blockchain technology consulting, ICO, IEO and STO, dApps development service, blockchain with IoT, and Blockchain in AI. We work in almost all industry verticals including finance, healthcare, education, government, media, publication, real estate and supply chain.
Yes, all our blockchain developers will work as per your timezone. We make sure to provide our clients with a hassle-free experience. Hence, our whole team of blockchain is committed to working as per the needs and demands of the client.
Yes, we do provide remote blockchain developers for hiring. Communication is very easy and smooth as all our developers are flexible in working as per the client’s timezone.
You will never regret hiring developers form SoluLab. Our whole team is equipped with developers who ace in their programming skills and are updated with all the tools related to blockchain technology to provide a smooth and efficiently running development project for your company.
Typically, blockchain engineers charge between $81 and $100 per hour. As the need for blockchain coders grows, the hourly rate they demand may rise along with it.
Augmented reality app development cost depends upon a number of factors such as the features, functionalities, type of app, type of content, the complexity of the app, and software licenses. On average, the cost of AR app development can range from a few thousand dollars to about 300,000 dollars. It is better to compare a few AR app development companies and settle for the one that best suits all requirements.
The difference between augmented reality or AR and virtual reality or VR lies in the device they need and the overall experience they offer. Let us understand the difference between AR and VR below.
- Augmented reality makes use of a setting like the real world, while virtual reality happens to be entirely virtual.
- Augmented reality can be accessed with a smartphone, tablet, or other devices, but virtual reality necessarily needs a headset device.
- Users of augmented reality are able to control their presence in the real-world setting, whereas the users of virtual reality cannot control themselves and are controlled by the system.
- Augmented reality enhances both the real world as well as the virtual world, while virtual reality enhances only a fictional reality.
Augmented reality or AR begins with a device equipped with a camera like a tablet, smartphone, or smart glasses that is loaded with augmented reality software. At the time when a user points at the device and looks at an object, the augmented reality software identifies it with the help of computer vision technology, which helps analyze the video stream.
Augmented reality or AR apps work by using the device where the AR app exists to appropriately blend the digital content into the real world. The users get the freedom to choose a feature and capture photos & videos along with all the fun elements. They can also add a wide array of available virtual items.
Augmented reality or AR refers to a highly interactive experience of the environment of the real world. In augmented reality, the objects that lie in the real world are readily enhanced by perceptual information generated by computers. The perception is many times generated across many sensory modalities, which include auditory, visual, haptic, olfactory, and somatosensory.
To state in simpler terms, AR happens to be an enhanced version of the real world achieved via using different digital visual elements, sound, or other sensory stimuli. AR has become extremely popular over the past few years and, at present, happens to be a growing trend among different organizations involved in business applications and mobile computing, to be specific.
Solulab is a perfect fit in blockchain development for government sector for several reasons. You can transform your business digitally and avoid any sort of fraudulent activities. Increase accountability by growing smart with technology and increasing accountablity.
You can also make use of expert advice to make use of resources optimally which in turn will also save your time and cost. Efficiency in work is accomplished with transparency in communication.
As blockchain and cryptocurrencies are still in their infancy, finding the proper people who can produce the result on time isn’t easy. According to Codementor.io, developers charge hourly rates: average and median: – hourly rates range from $81 to $100 on average; hourly rates on the median range from $61 to $80. Therefore, using offshore or nearshore software development services is the most excellent option to reduce the cost of blockchain deployment and development. Software outsourcing is another name for this procedure.
For entities transacting with one another, blockchain for business is worthwhile. Permissioned users can access the same information simultaneously using distributed ledger technology, improving efficiency, building trust, and reducing friction. Blockchain also enables a solution’s size and scale to be quickly adjusted, and many answers can be customized to do many jobs across industries. The benefits of blockchain for business are based on four unique characteristics of the technology. Business leaders will learn how blockchain technology may aid in the development of more efficient procedures and innovative financial models. The use cases and ideas in this practical guide are industry-specific.
Blockchain storage stores data in a decentralized network that uses idle, hard disc space from people worldwide. The decentralized architecture is a viable alternative to centralized cloud storage and can address many issues that plague centralized systems. The purpose of a blockchain is to allow the recording and distributing of digital information to all participants but never editing. One can use a blockchain to store a variety of data (election votes, product inventories, state identifications, home deeds, and so on); Bitcoin only uses it to create a transparent log of payments.
Blockchain eliminates redundancy, streamlines operations, lowers auditing costs, improves security, and maintains data integrity. Cryptocurrencies like Bitcoin are decentralized digital currencies, and other cryptocurrencies have dominated the news in recent years. The federal government may use blockchain technology to better its cybersecurity efforts. A blockchain-based digital government can protect data, improve operations, and reduce fraud, waste, and misconduct while simultaneously improving trust and accountability.
Yes, we do sign NDA to avoid breach of privacy and security.
Blockchain applications in retail will provide four major benefits: lower costs, efficient payments, improved transparency, and enhanced security. These will be attained through the use of various core technologies that will work in tandem and/or alongside one another. Cryptocurrencies, distributed ledgers, and smart business deals will significantly accelerate the completion of transactions and deals, eliminating massive layers of bureaucracy and lowering expenses.
It’s not easy to respond to this question right away. Because blockchain and cryptocurrencies are still in their infancy, it is difficult to find the proper people who can produce the end result on time. Codementor.io claims that the developers charge two types of hourly rates: average and median:
– Hourly rates range from $81 to $100 on average.
– Hourly rates range from $61 to $80 on average.
Retailers benefit from blockchain technology in four ways: lower costs, quicker payments, increased transparency, and improved security. Costs are lowered as a result of the decentralized nature of transaction automation and application interoperability, which results in the eradication of administration. Rapid payments are possible because blockchains do not require a centralized infrastructure. No system is immune to external breaches of its security standards; but, blockchain’s distributed nature gives an unprecedented level of confidence. Transparency is provided through blockchain’s immutability and public availability.
A retail blockchain is a universal word for unsettling technology used in the retail sector to store digital businesses cryptographically on a distributed ledger. A blockchain is a distributed database that is shared among computer network nodes. Blockchains are well known for their critical function in cryptocurrency systems such as Bitcoin in keeping a secure and decentralized record of transactions. The blockchain’s innovation is that it ensures the accuracy and security of a data record.