As they transition to a new era of data storage, blockchain consulting firms are currently making IT history. Blockchain consulting companies are becoming more and more popular, as statistics show that businesses could invest more than $20 billion per year in blockchain technologies by 2024. 

They support and advance blockchain technologies, which gain more traction yearly and penetrate various facets of our society’s infrastructure.

Choosing a blockchain consulting company though is not as easy as it might seem. We will address the factors you should keep in mind when you make such a choice but also the best companies to look at this year. 

Who Are Blockchain Consulting Companies

Before we understand blockchain consulting, we have to understand what blockchain technology is. 

With blockchain technology, data is stored in a digital ledger that can be accessed by all users in the network. However, the users don’t have the opportunity to alter the data that already exists in the network. Users only can record transactions and keep track of assets thanks to this technology. Everything is transparent, proprietary rights or transaction records can’t be forged – this is the power of blockchain. 

This type of  technology is distributed by blockchain development firms. Such firms are IT companies that offer various services connected with blockchain technology. They offer clients to apply some blockchain business ideas to their business processes. These services might involve exploring the best way to leverage blockchain technology or a specific case, designing the networks for a client, and maintaining the network at its best performance levels.

Blockchain consulting companies are experts with great technological expertise and a huge background of implementing blockchain technology. 

Key Expertise Areas You Should Look For

A business must understand how to create and maintain blockchain networks in order to provide knowledgeable and high-quality advising on this kind of technology.

For a company to qualify to provide blockchain consulting services, the following elements must fall within its scope of knowledge!

  • Peer-to-peer network

Understanding a peer-to-peer network and knowing how to build it are crucial skills for a blockchain consultant. Such a network has a distributed ledger among all the computers that are connected to the peer-to-peer network. All computers will be equal in terms of their access to the shared data. The data in the blocks is not only secured but also transparent.  

  • Digital signatures and hash functions

Digital signatures ensure the security of the data that is stored in a blockchain network. The digital signature has the role of validating the integrity of the data. To digitally sign data, users need a private key and a public key. Private keys are used to encrypt data in the network while public keys are used to decrypt the data. 

The other part of the digital signing process is the hash. There are hash functions such as one-way data hash that replaces the need to encrypt the data. You will use the private key to encrypt the hash rather than the data itself, which is a better option for protecting sensitive information. An encrypted hash and the hashing algorithm are known as digital signatures. 

  • Consensus algorithm

All blockchain networks have to be based on a consensus algorithm. This algorithm is used to build reliability within the network as it acts as an agreement between all the users of the network regarding a data value. As a result, the network can exist in a decentralized manner, without a need for a sovereign authority or intermediaries. 

  • Smart contracts

Smart contracts are contracts that the software can implement by itself when triggered according to the circumstances established by the network. Contouring smart contracts within a blockchain network helps the users be more efficient with their transactions and other contractual obligations. 

How to Choose a Blockchain Consulting Company

Your chances of hiring a reputable blockchain consulting firm rise if you pay attention to the following aspects!

  • Reputation (reviews) 

You should pick a business with a spotless reputation. This indicates that it had finished projects and had favorable feedback from past customers.

Successful prior projects are always a positive sign and can reveal a lot about a company’s reputation.

  • Portfolio

You can see a company’s potential by looking at its portfolio. You will be able to recognize the services that particular businesses can provide you as well as their prior successes in the field.

  • Number of employees 

The size of a corporation will matter as a measure of its variety and the range of divisions it may employ. Having more personnel enables us to take on more projects and complete them more quickly.

Employing a blockchain consulting company will result in fees for their services as well as potential expenses for gear and training.

If you teach your team how to use blockchain technology, your initial investment will increase.

  • Foundation year

You may gauge a company’s level of experience in a market by looking at the year it was created.

Businesses that are older have greater knowledge and have had more time to work on projects in various domains. 

Best Blockchain Consulting Companies in 2022

We gathered the best blockchain consulting companies on the market according to their performance and the rates of their services. Find the one that suits your needs and enjoy the advantages of a network tailored specifically for your company!

1. 10Clouds

 One of the earliest companies to provide blockchain consulting services was 10Clouds, which was established in 2009. Additionally, the company offers design, web, fintech, and mobile development services.

Reputation:4.9

Portfolio: Over 30 use cases from different domains such as medical networks, social networks, telecommunication networks, and others. They have use cases that address a global audience but also ones that have a more restricted target. 

Number of employees:200+

Costs:$50 – $99 / hr

Foundation year:2009

2. L+R

L+R is a global company that offers blockchain consulting services in addition to services for designing and developing websites and mobile applications. You can employ their experts to assist you create the network you need and boost the reputation of your business.

Reputation: 5.0

Portfolio: The company’s portfolio includes more than 30 blockchain application cases from various industries. Businesses in industries like sports, communication, sales, and even space exploration benefited from their assistance.

Number of employees: 10 – 49

Costs: $200 – $300 / hr, minimum project size $10,000+

Foundation year: 2012

3. ScienceSoft

The IT consulting and software development experience of ScienceSoft spans over 33 years.This business offers all different kinds of software solutions, from design services to blockchain. ScienceSoft covers more than 30 different industries. 

Reputation: 4.8

Portfolio: 31 major companies used ScienceSoft for blockchain consulting such as IBM, Viber, Ford Motor Company, and eBay.

Number of employees:250 – 999

Costs:$50 – $99 / hr, minimum project $5,000+

Foundation year: 1989

4. SumatoSoft

One firm offering consulting services is SumatoSoft, which also offers full-cycle software development (web, mobile, IoT), business analysis & discovery, UX/UI design, and blockchain consulting.

Reputation:  5.00

Portfolio: SomatoSoft has 150+ use cases of implementing various technologies in 25 industries and one blockchain use case. SumatoSoft focuses on long-term cooperation and excellence of work, it will definitely conquer the blockchain market in no-time.

Number of employees:  50 – 99

Costs: $50 – $99 / hr, minimal project size is $25.000

Foundation year: 2012

5. Renesis Tech

Since 2016, Renesis Tech has offered blockchain services as well as CRM, ERP, and SAAS along with web and mobile development services. You can use it mostly for big projects. 

Reputation: 4.9 

Portfolio: Projects specializing in cloud-based blockchain development services of medium size. 

Number of employees:50 – 249 

Costs:$25 – $49 / hr, $25,000+

Foundation year: 2016 

6. ICEO – Venture Builder

ICEO is a notorious name in the IT industry thanks to its innovative and efficient solutions. They address not only blockchain consulting services but also fintech, and AI. 

Reputation: 5.00

Portfolio: ICEO has over 19 blockchain cases with millions of users all over the world. Each one of their use cases has thousands of transactions within the network. 

Number of employees: 10 – 49 

Costs: $50 – $99 / hr, minimum project size $50,000+

Foundation year: 2008

7. Blockchain Technologies

As its name suggests, Blockchain development is a company focused on finding the best blockchain solutions for its clients. 

Reputation:5.00

Portfolio: The company has a portfolio of over 100 projects with a 100% customer satisfaction rate. They specialize in medium and big case uses from industries like social media, NFT market, healthcare, and cryptocurrency. 

Number of employees:10-49 

Costs: $25 – $49 / hr, minimum project size $10,000+

Foundation year:2016

8. Pixelplex

Each year, Pixelplex creates fresh software solutions based on the demands of its customers. The majority of the company’s clients are medium-sized firms, and more than 60% of its work involves blockchain technology.

Reputation: 4.9 

Portfolio: Throughout its history, the company completed over 450 projects, and its products are used in over 120 countries. Their use cases are from medium to large. 

Number of employees: 50-249

Costs:$50 – $99 / hr, minimum project size $25,000 

Foundation year: 2007

9. Damco Solutions

Damco Solutions uses a Global Delivery Model to accommodate clients from all over the world. You can use their services of custom software development, blockchain consulting, machine learning, business analytics, and infrastructure management to build your brand and increase work efficiency within your team. 

Reputation: 5.00 

Portfolio: The company specialized on medium size blockchain use cases, mostly in the economic industry. They have several use cases in the insurance industry as well as in the area of project management. 

Number of employees: 250 – 999

Costs:$25 – $49 / hr, minimum project size $5,000

Foundation year: 1996

10. MoogleLabs

In addition to providing you with expert blockchain consulting services, MoogleLabs can help you expand your company through the use of AI/ML, website development, and data science.

Reputation: 5.00

Portfolio: Among their projects, you will find an A Blockchain-Powered

LMS Transforming the Education Sector prevents fraud and increases transaction security in several industries such as healthcare, education, and engineering. 

Number of employees: 10-49

Costs: $25 – $49 / hr. Minimum project size $1,000

Foundation year: 2020

11. Cosdec Alpha

Cosdec Alpha, a relatively young business, provides expert blockchain consulting services together with Web 3.0 research and software solutions. Their first two years of functioning within the IT industry show that they have the potential to get on top of this niche. 

Reputation: 5.00

Portfolio: You will find medium case uses but also complex IT projects such as the projects for Vexillum Treasury, Forticraft International Group, or We-Learner. 

Number of employees: 10-49

Costs:$50 – $99 / hr, minimum project size $10,000+

Foundation year: 2020 

12. Stratagem Ventures  

Stratagem Ventures focuses on business consulting services including blockchain, but also market research, AI, and marketing strategies. They address midmarket companies and small businesses equally but also global enterprises

Reputation:4.9

Portfolio: Stratagem Ventures specialised in medium size use cases. Among its clients, we mention NFINITE Energy, Liminarch, and Warid Telecom. 

Number of employees:10-49

Costs:$25 – $49 / hr, minimum project size $5,000

Foundation year:2014

13. Softnotions Technologies Private Limited

Softnotions Technologies Private Limited offers both custom software solutions as well as ready-to-use solutions to clients from the global market. Their experts focus on the needs and potential of your company and identify the best blockchain network you can benefit from. 

Reputation: 5.00

Portfolio: The business has a sizable portfolio of more than a thousand projects, including medium- and large-scale blockchain consulting projects. Although they also work with enterprises and small businesses, the majority of their clientele are in the midmarket.

Number of employees: 50 – 249

Costs:$25 – $49 / hr. Minimum project size $10,000+

Foundation year: 2006

14. Bitdeal

In order to build a new economic environment, Bitdeal focuses on fusing the greatest blockchain technology with the digital economy. The company masters developing technologies such as Cryptocurrency, NFT, and blockchain technology and works with over 200 experts. 

Reputation:5.00

Portfolio: Their blockchain solutions are wide and address use cases of the small, medium, and large sizes. 

Number of employees: 50 – 249

Costs: $25 – $49 / hr, minimum project size $1,000

Foundation year: 2015

15. EMURGO

A blockchain consulting firm called EMURGO provides solutions to small, medium, and large organizations alike. To meet the unique demands of their clients, they offer both standard software solutions and customized software solutions.

Reputation: 4.8

Portfolio: The covered blockchain use cases of medium and large sizes such as Cardano and Seiza.

Number of employees:50-249 

Costs: Offered upon request 

Foundation year: 2017

16. Startup Slang 

Despite having a Canadian base, the business has worked with clients in more than 30 different nations during the last five years. It specializes not only in blockchain consulting but also in digital marketing strategies that increase the brand awareness of your company. 

Reputation:5.00

Portfolio: Startup Slang collaborated with more than 2000 eCommerce websites worldwide and they created blockchain use cases of medium and large size. 

Number of employees:50-249

Costs:$150 – $199 / hr, minimum project size $10,000

Foundation year:2017

17. Darkod Tech

One of the top more recent IT businesses is Darkod Tech. They will instruct your staff on how to maximize blockchain in addition to providing you with high-quality consulting services in this area.

Reputation: 5.00

Portfolio: So far, the company’s portfolio has small case uses which makes it ideal for small businesses. 

Number of employees: 10-49

Costs: $25 / hr, minimum project size $1,000

Foundation year: 2020

18. Bitbooms Web3 Marketing

Bitbooms Web3 Marketing will create innovative blockchain solutions for your business fast and at the highest standards. The company will help you put together a marketing strategy that will bring you more brand awareness and sales leads. Bitbooms works primarily with small and medium-sized businesses. 

Reputation:5.00

Portfolio: The company covered small and medium size blockchain use cases. 

Number of employees:2-9

Costs:$50 – $99 / hr, minimum project size $1,000

Foundation year:2021

19. PLECCO Technologies, Inc

In the past two decades PLECCO gathered the right team and experience to accommodate even the most challenging IT projects. They offer a fast solution to increase sales and organize work as well as secure transactions within your network. 

Reputation: 5.00

Portfolio: The company worked mostly on medium size blockchain use cases, with key clients being Tech Talent South or Lifetagger. 

Number of employees: 2-9

Costs: $100 – $149 / hr, minimum project size $5,000+

Foundation year: 2003

20. Volt Media Services

Over 50% of the company’s work is dedicated to blockchain consultancy. The group develops digital marketing strategies using approaches like Scrum and Sprint Design.

Reputation:5.00 

Portfolio: The company covered small and medium blockchain case uses 

Number of employees:2-9

Costs: $50 – $99 / hr

Foundation year: 2018

21. ledgr.

Ledgr. provides a range of blockchain consulting services, from implementation to research. They serve both private individuals and companies from a variety of industries.

Reputation: 5.00

Portfolio: Among the clients of this company you will find Burnett, Luxlock, Mod Studio, and Citizen-T. Their cases are from medium to complex and they meet the specific requirements of each client. 

Number of employees: 2-9

Costs: $200 – $300 / hr. Minimum project size $25,000+

Foundation year: 2002 

22. Nth

The company was put together by entrepreneurs who understand the needs of businesses of all sizes. Nth offers customized solutions to your problems and converts ideas into reality. 

Reputation:4.5 

Portfolio: Nth has medium and large projects and uses cases in domains of communication, economy, and social media. 

Number of employees:2-9

Costs: $50 – $99 / hr, minimum project size $10,000+

Foundation year: 2018

Conclusion 

Working with the top consulting firms is essential for your advancement as blockchain technologies take over the market.

The IT solution professionals you select to collaborate with will create the ideal blockchain network for your company.

Therefore, you don’t need to have a concrete idea of what technology you want to implement as long as you work with industry specialists like the SumatoSoft team.

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