Blockchain is a popular technology that was initially developed for cryptocurrencies. However, today the sphere of its use has expanded significantly. The specialists forecast that the prevalence of blockchain solutions will be increasing exponentially. And this article will help you find out the reasons by describing a few advanced startups.
A few of the foremost successful blockchain startups have made their own cryptocurrencies, which can be utilized to get to their platforms or reward clients for contributing to the network. The blockchain startup ecosystem is highly competitive, and success regularly depends on being able to attract and retain top talent, secure funding, and build strong partnerships with industry leaders.
Regulatory and lawful challenges can also pose significant obstacles for blockchain startups exploring a complex and quickly evolving landscape. Despite these challenges, the blockchain startup ecosystem is growing quickly, and there are numerous exciting opportunities for entrepreneurs, financial specialists, and innovators to get involved in this exciting field.
What is Blockchain Technology?
Blockchain is a database including any type of information. The data is recorded in special blocks, which contain a certain amount of storage and cannot be changed. If there is a need to overwrite the information, the new block is created. It is worth mentioning the nodes of blockchain services aren't subordinate to a single controlling center: they are distributed among numerous independent users that prevents any attempts of manipulating the data. Thus, blockchain guarantees the security of your funds and personal information. You are able to easily share the necessary data in a safe way.
The concept of blockchain technologies explains the popularity of these solutions. Every company stores user data, so it needs a universal system, which would provide exceptional security. Moreover, blockchain opens up new opportunities in the digital world letting us create unique services. Below we have listed the most vivid examples.
6 Top Blockchain Startups
ScienceSoft
Having 32 years of work experience, the company helps businesses in launching custom blockchain services. The fields of clients’ work don’t matter. ScienceSoft provides customers with the best solutions related to:
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Supply and asset management;
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International payments;
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Trading;
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Identity management and other stuff.
The market player also offers consultations. They are going to be useful if you are not sure about how modern systems will solve some of your problems. By the way, Agilie is ready to help you as well. Together we’ll consider questions regarding TCO calculation, architecture design, security, etc. Our services don’t cost an arm and a leg.
ScienceSoft has more than 700 employees; its estimated annual revenue is $25 million.
Website: Link
SALT
Originally, blockchain services were created for the financial sector including cryptocurrency. So, the SALT company has presented a completely new product: it offers online loans in which your crypto assets will serve as collateral.
SALT provides loans from $5000 to $25,000,000 with 3 to 12 monthly payment windows and LTV (Loan-to-Value ratio) of 30 to 70%. It supports the following cryptocurrencies: Bitcoin, Ethereum, Dash, Litecoin, Dogecoin, Ripple, and so on.
SALT is a good option if your credit history is unsatisfactory. Today the company is operating in most states of the USA. Since 2016, its audience has grown significantly.
Website: Link
Genomes
As we mentioned above, blockchain allows recording any information and gives users control over the distribution of their data. Specialists from Genomes launched a system, which contains entire DNA data on the Ethereum blockchain and gives the opportunity to share it out. An interesting fact: the human genome is comprised of approximately 3 billion base pairs amounting to about 1.5 GB.
DNA is a key to understanding the triggers, which cause rare diseases. Modern technologies contribute to new researches, which may struggle with certain health problems. As a prospect, patients are able to earn money by selling or renting their DNA to scientists.
Custom blockchain services are a good way to store genetic information and numerous medical files of patients. However, we need some time for such solutions to be adapted.
Genomes is a young company founded in 2018. Despite that fact, today it is known worldwide as a genomic data security leader.
Website: Link
Storj
Storing important files on the personal computer is not a good idea because your hard drive may fail at any time. It is recommended to store all information in the cloud. And Storj's solution will definitely be useful in this case.
Storj offers decentralized cloud storage based on blockchain technologies. The files aren’t stored in a certain data center: they are split into parts and distributed on a global cloud network. Of course, all data is encrypted.
Storj’s approach guarantees total security, privacy, and availability of your information.
Storj is:
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13 065 active nodes;
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6,5 PB free capacity;
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417 million objects;
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32 billion object pieces.
Website: Link
Ledger
This popular company was founded in 2014. Its work has to do with selling peculiar devices, which store private cryptocurrency keys offline. According to some statistics, Ledger operates with 15% of all cryptocurrency assets worldwide.
The last blockchain solution of the company is called Ledger Nano X. It’s a hardware wallet for managing your crypto on the go. It features an encrypted Bluetooth connectivity, which allows the user to log in to the Ledger Live mobile app. Users may easily buy, exchange, and trade crypto in seconds.
Ledger’s developments are also useful for enterprises, which wish to add cryptocurrencies to their balance sheet.
Some outstanding statistics:
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More than 1,5 million monthly users;
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190 countries of presence;
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3 million sold devices.
Website: Link
Nuri (former Bitwala)
It’s a German bank, which offers to create the first blockchain bank account. Each user can invest in Bitcoin and earn up to 5% per year. The bank’s account contains a cryptocurrency wallet and a debit card to provide clients with the ability to make transactions abroad.
The startup has been working since 2015. It has managed to receive over 6 million euros from European and American investors for developing its blockchain services.
FAQ
What is a blockchain-based startup?
A company that uses blockchain technology to develop valuable goods or services for customers is known as a blockchain-based startup. Common examples include cryptocurrency exchanges, distributed ledger technology (DLT) platforms, and tokenized assets.
What makes a successful blockchain startup?
A solid business model, a team of professionals, a good strategy, and a clear understanding of the benefits of blockchain technology are prerequisites for successful blockchain startup companies. It is also important to keep up with market trends and deal with any foreseeable difficulties. After all, success depends on having access to suitable investors, partners, and customers.
What is crucial when creating a blockchain startup?
A detailed business plan, including your product or service, target market, revenue model, and marketing approach, is crucial. Your blockchain company will probably have trouble attracting clients and investors without a defined aim. Despite the complexity of blockchain technology, it's vital to keep your product or service as straightforward as possible. If the technology is too complex or further functions are added, consumers may become confused, and adoption may be slowed. It's doubtful that your product or service will be successful if it can't manage many transactions.
Summing Up
Thus, blockchain technology is not only about fintech: there are numerous ways of using it. If you cherish some ideas concerning custom blockchain services, please follow the link and leave your request: agilie.com/contacts
Agilie has great experience and all the necessary resources to meet your requirements and then present a top-notch product.
