How Much Does It Cost to Build a Blockchain App?

About The Author

Nikhil-KhandelwalNikhil Khandelwal VP Engineering
LinkedIn|20 Jul 2023

Over the last few years, blockchain has become a buzzword everyone (related to different industries) talks about. The worldwide blockchain tech market is $17.57 bn in 2023 and is expected to reach $469.49 bn by 2030.  

Even popular brands like Amazon, Paypal and Microsoft are investing in blockchain app development.  

Many businesses or organizations worldwide looking to adopt blockchain technology are asking one question “what is the cost to build a blockchain app?” 

The brief answer is- IT DEPENDS! 

Blockchain app development costs depend on several factors, such as the developers’ teams, marketers, a project plan, market research, etc. Most importantly, you’ll need to determine the cost & time to create a successful blockchain app. 

If you are wondering about the estimated cost & time frame of building your blockchain project, here you’ll get a complete blockchain development cost guide, along with factors that impact this price. 

Let’s first start with some stats on why you should invest in a blockchain development project: 

Why Should You Invest in Blockchain App Development? It’s Time for Stats. 

Blockchain tech adoption has increased exponentially since PayPal and Walt Disney engaged in it in 2014. 81 of the world's top 100 public enterprises implemented blockchain technology, with 27 companies working on the live blockchain development process. Some of these 27 enterprises are Microsoft, Amazon, Bank of China, Walmart, Alibaba, J.P. Morgan, etc. 

Blockchain can provide the following benefits to your business - whether you’re using a public blockchain network or selecting a private blockchain-based app.  

  • Strengthen trust 
  • Enables real-time data sharing 
  • Improved security and privacy 
  • Reduced costs 
  • Visibility and traceability 
  • Simple data access 
  • Tokenization 
  • Faster transactions 
     Unlock the power of decentralization for your business

It’s the right time to invest in blockchain development solutions: 

These numbers are enough to explain why implementing a blockchain app solution would be a great investment for your business. If you are looking ahead to the development process, blockchain app development costs should be your first concern for successful results.  

How Much Does Blockchain App Development Cost? 

Blockchain app development costs can range from $40,000 to $300,000 or higher, depending on several designs, features or types.  

If you want to get a more accurate estimate of the cost of your blockchain project, consult a specialized blockchain app development company such as VLink. They can provide detailed cost estimates based on the specific milestones and objectives you want to achieve with your blockchain app. 

Let’s come to main topic;  

6 Factors Impacting the Blockchain App Development Cost

6 Factors Impacting the Blockchain App Development Cost

Factor #1 - Agency Size

The cost breakdown structure of the blockchain app development domain varies between small-size, SMEs and large-size companies.   

Most companies planning to enter the blockchain sector usually prefer to invest in Mid-size software development companies. Reasons are dedicated teams, affordable costs and satisfied results.  

Cost differences between the three company sizes and development team sizes are shown in the table below.  

Companies Size 

Team Size 

Costs 

Large app development companies 

3000+ experts 

$450,000 to $1,500,000 

Medium-sized app development companies 

1000+ experts 

$40,000 – $300,000 

Small development companies 

10 to 50 experts 

$2,000 to $ 25,000 

Factor #2 - Development Team Structure

When selecting a vendor, ensure they have relevant expertise in blockchain technologies and meet your requirements in terms of standards.  

For basic projects, you may need a small team of 4-5 experts or freelancers, including: 

  • Backend developer 
  • Blockchain developer 
  • Business analyst 
  • UI/UX designer 
  • Quality assurance manager 
  • Project manager 

You'll need more team members if you have a complex project or tight deadlines and need to speed up the process.  

For blockchain-based app development, you can; 

  • Expand your in-house team 
  • Hire freelancers 
  • Hire a dedicated outsourcing team 

Let’s explore each option in detail. 

  • Outsource to Blockchain App Development Company $45-$95/hr. 
  • Assembling an in-house team may cost you around $50,000 for newbies to $100,000 for experienced ones. 
  • Hiring an expert freelancer may cost approx. $50,000 to $90,000. 

Freelancer Blockchain Developer Hourly Rate
 Cost to outsource blockchain app development by region are shown in the below table; 

Regions 

Costs/hours ($/hr) 

North America 

$150-$250/hour 

India 

$20-$35/hour 

Western Europe 

$70-$150/hour 

Eastern Europe 

$50-$70/hour 

Factor #3 - Industry

There are several costs influencing factors that vary from one sector to another. These factors are; 

  • The complexity of the dApp 
  • Number of stakeholders 
  • Industry compliances 
     

The blockchain app development cost difference as per several industries; 

Industry 

Cost 

Healthcare 

$55k-200k+ 

On-demand 

$40k-1000k 

Social Media 

$45k-100k+ 

Public Sector 

$70k-100k+ 

Finance Sector 

$50k-300k+ 

Factor #4 - Blockchain App Complexity

Blockchain apps are categorized into three complexity levels: low, medium, and high.  

The complexity of a project depends on various factors, including; 

  • Data structure 
  • Cryptography 
  • Consensus mechanisms 
  • Platform 
  • APIs 
  • Tech stacks 
     Planning to build a powerful and scalable blockchain app

The table below shows a rough estimation of time and cost for blockchain projects at each level of complexity. 
 

Complexity Level 

Project Examples 

Cost Estimation 

Time Frame 

Low 

Basic smart contract app 

Payment app built with existing cryptocurrencies 

 
 
 

~$25,000 

~2 months 

Medium 

Semi-decentralized app 

dApp built on an existing blockchain platform 

 
 
 

~$100,000-$300-000 

 
 
 

~4-6 months 

High 

Custom blockchain-based platform 

Complete decentralized network 

 
 
 

~$600,000-$1,000,000 

 
 
 

~12 months 

 

Factor #5 - Development Specifics

The mobile app development process hides several technical nuances that can impact its final costs.  

After considering all the requirements of your project, you need to understand them. It may help you to more precisely estimate your development budget.  

Development Stages

Blockchain implementation cost also depends on each development project phase. Different types of such apps may require several activities during the development process.  

Here is an approximate share of the cost of each development stage for a new project: 
 

Project Milestone 

Cost share (%) 

Initial consult 

5% 

UI/UX Design 

10% 

Development 

45% 

Testing  

25% 

Deployment & Maintenance 

15% 

2. Cost of Third-Party Tools

Here are a few general categories of vendor services that are common for several blockchain-based apps: 

  • Infrastructure platforms for computing, delivery, and storage (such as Amazon Web Services): $100 to $1000, depending on the number of users 
  • Blockchain nodes and API development providers (such as Alchemy and Kaleido) 
  • Bug tracking tools for gathering and reporting live bugs (such as TestRail, Instabug, and Bugsee):($10 to $100 per month) 
  • Monitoring services for sending downtime notifications (such as Uptime Robot and Statuspage.io): ($10 to $50) 
  • Notification services for enabling notifications in apps (such as Twilio, Kumulos, and Amazon SNS): ($10 to $50) 
  • Analytics solutions for data analysis and reporting (such as Flurry and Mixpanel): ($0 to $150) 
Factor #6 - Blockchain Service Types

As blockchain tech builds, transforms and obtains new use cases, app types and services appear.  

Let’s take a look at some of the most popular types of blockchain services: 

 Blockchain Service Types
NFT Marketplace 

Non-Fungible Tokens or NFT marketplace acts as a public Blockchain platform, allowing users to sell and buy NFTs. 

DApp 

A decentralized application (DApp) operates independently through smart contracts, which run on the blockchain or a distributed ledger. 

DAO (Decentralized Autonomous Organization)

A decentralized autonomous organization (DAO) is a form of legal structure without any governing body, and all its members work collectively toward the success of a single entity.  

Cryptocurrency Wallet 

A mobile app that allows users to purchase and sell cryptocurrencies, store them and effectively manage transactions. 

Cryptocurrency Exchange 

This trading application enables users to purchase, sell, and swap numerous cryptocurrencies and fiat money.  

The estimated cost and time frame required to create different types of blockchain applications services is shown in the table: 
 

Blockchain App Service Types 

Estimated Costs 

Time Frame 

NFT Marketplace 

$55,000 to $125,000  

8 to 9 months 

 
 

DApp 

$35,000 to $150,000  

4 to 8 months 

Decentralized Autonomous Organization (DAO)  

$10,000 to $30,000  

1 to 2 weeks 

Cryptocurrency Wallet  

$125,000 to $200,000  

6 to 9 months 

Cryptocurrency Exchange 

$135,000 to $190,000  

4 to 5 months 

Wrapping Up! 

Hopefully, you have now understood the cost of blockchain app development. Understanding the explosive growth of blockchain apps is essential. Because they can benefit your company in many ways, including cost effectiveness, improved security, fraud prevention, and more. 
By incorporating blockchain technology into your business infrastructure, you can establish a pathway toward a thriving enterprise that ensures optimal return on investment (ROI). 

VLink, a specialized company in blockchain mobile app development services, excels in providing top-notch blockchain solutions tailored to your unique business needs. Our experienced development team has expertise in integrating advanced technologies that have the potential to streamline your business operations and drive remarkable outcomes. 

Blockchain CTA

FAQs
Frequently Asked Questions
How to develop a blockchain app for your healthcare business?

Here are a few steps you need to follow for building a blockchain app for healthcare business: 

1. Define your app's purpose and features.  

2. Select a reliable blockchain platform (Ethereum, Hyperledger, etc.).  

3. Design and develop smart contracts and backend infrastructure.  

4. Build a user-friendly front end.  

5. Test, deploy, and maintain the app. 

What is the cost of commercial blockchain?

Commercial blockchain development is building a blockchain platform businesses use to streamline operations. The cost of blockchain application for commercial business can range anywhere between $50,000 and $1 million. 

What do you need to consider before determining the cost of blockchain development?

Here are several factors you need to consider before determining the blockchain development costs: 

 

  • Required deliverables 
  • Product interfaces 
  • Level of blockchain involvement 
  • Blockchain type 
  • Number of blockchain platforms 
  • Consensus mechanism 
  • Need for financial transactions 
  • Need for cloud computing 
  • Estimated number of end users 
How much time does it take to build a blockchain app?

The time frame needed to create a blockchain app depends on its complexity. A highly complex app with advanced features requires around 9-10 months for blockchain development.  
 

On the other hand, a simple blockchain app with minimal features requires around 3 months for development. 

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