Blockchain
Development

Building a blockchain application involves several steps that vary depending on factors like the platform you’re using (Ethereum, Solana, etc.), the type of application (DApp, token, etc.), and your specific use case. However, here’s a high-level overview of the process:

• Clearly define the product & it’s requirements
• Choose a blockchain environment that aligns with your goals (primary whether you’re building for EVM chains or not)
• Design the smart contracts (logic, functions, permissions, etc.)
• Design any frontend interfaces (UI/UX)
• Develop all components (frontend, backend, smart contracts, integrations)
• Test and deploy all code to test environments (blockchain test networks for smart contracts)
• Perform a third-party smart contract audit to identify vulnerabilities and ineficiencies
• Deploy contracts to mainnet and ship your app to production

The ideal deployment environment will vary based on your product and use-case. Some things to consider are: Where are your target users? What other apps or protocols will it integrate with? How much throughput is required to serve your use-case? Is existing liquidity a requirement? Does you product need to work across multiple chains? Is data privacy a concern?

These factors (and others) will help determine the best blockchain for your product, whether that be Ethereum Mainnet, Ethereum Layer 2’s (Rollups) like Optimism, Arbitrum or Base, alternative Layer 1’s like Solana, Binance Smart Chain (BSC), Avalanche, etc. or other blockchains.

For most products, we recommend building for the EVM (Ethereum Virtual Machine), as it is the dominant framework for blockchain applications and allows teams to take advantage of the vast tooling, services and existing protocols in web3. Building for the EVM (contracts written in Solidity) also gives teams the highest level of portability, able to deploy to any blockchain that is EVM-compatible with no code changes; this includes Ethereum, Polygon PoS, Polygon zkEVM, Base, Abitrum, Optimism, zkSync Era, BSC, Avalanche, and many more.

Whether you have a dev-team or not, Labrys is your reliable partner throughout your product development journey. We’re here to support you from start to finish, whether you need help brainstorming ideas, designing, coding, documenting or navigating the post-launch phase. Think of us as your go-to squad for bringing your vision to life!

Give your project a thorough check-up to ensure user funds are not at risk. A smart contract audit involves reviewing your smart contract code to spot any potential issues or vulnerabilities. Whether you’re launching a DeFi platform or an NFT marketplace, a smart contract audit is crucial for ensuring your project’s security and reliability. 

Alright, let’s break it down! ERC721 tokens represent unique, indivisible assets. Each token is one of a kind, making it the perfect fit for representing ownership of distinct assets, such as digital collectibles, art, or real estate. On the other hand, the ERC1155 Multi-Fungible Token Standard, offers a multi-dimensional approach by allowing the creation of both Fungible and Non-Fungible tokens within the same smart contract. It is an excellent choice for projects that need to efficiently manage a wide range of assets, from in-game items to NFT collections.

Understanding these differences is essential for choosing the right standard for your project’s use case.

Ah, the million-dollar question! The timeline can be as unpredictable as Melbourne weather. The duration of building a web3/blockchain product varies depending on factors such as complexity, team size, technology stack, and specific requirements and the stage your project is at with regards to raising funds. If the project is at a very early stage, teams looking to demonstrate the core use case, could be looking at building a Proof of Concept, which can be delivered in 2-4 weeks. Teams with a well defined roadmap and use case, tend to build MVP or Production ready platforms, spanning development across multiple months.

Picture this: a successful blockchain product is like a well-oiled machine – it’s innovative, user-friendly, and solves a real-world problem. It’s not just about the tech – it’s about delivering value to your users and having a solid business plan to back it up. It’s like launching a rocket – you need the right fuel, trajectory, and destination to reach new heights.

Integrating blockchain into your business is like adding a secret ingredient to your recipe – it can take things to a whole new level! Start by identifying areas where blockchain can add value, like supply chain management or data ownership, and go from there. It’s like renovating your home – you want to enhance what’s already there while incorporating new features that improve overall functionality.

Absolutely! Labrys is all about breaking down barriers and collaborating with teams from all corners of the globe. Wherever your team is based, Labrys’ squads members will be supporting the relevant stakeholders across timezones.

Labrys is like a Swiss Army knife of Web3 technologies – we’re well-versed in smart contract development for Ethereum and the rest of EVMs, Solana, and other popular chains. On top of that, we have designers in-house to recommend the best UI/UX for your dApp and engineers that will design the backend of your application, and assist you integrate it with other third party tools, if need be. If it’s part of the Web3 stack, we’ve got you covered! Think of us as your one-stop shop for all things blockchain – we’re here to turn your ideas into reality, no matter how ambitious they may be.

Labrys is like your trusty co-pilot throughout the development process, providing support every step of the way. From brainstorming and workshops to design, development, and post-deployment support, our team is here to ensure your journey is smooth sailing. We’re not just developers – we’re partners in your success, dedicated to bringing your vision to life and helping you navigate the ever-changing landscape of web3/blockchain technology.

Developing a web3/blockchain product is like embarking on an epic journey with several key milestones along the way. First up is the Proof of Concept (POC) stage – it’s like testing the waters to see if your idea holds promise. Next comes the Minimum Viable Product (MVP) – think of it as the beta version of your product, where you gather feedback and fine-tune your offering. Finally, there’s the Production phase – this is where your product is polished and ready for prime time, supported by our team every step of the way.

• Experience and Expertise: Look for a company with a proven track record and a team of experienced blockchain developers.
• Reputation and Client Base: A strong reputation and a portfolio of successful projects are indicators of a reliable company.
• Transparency and Communication: Choose a company that values clear communication and keeps you informed throughout the development process.
• Focus on Security: Cybersecurity is paramount in blockchain. Ensure the company prioritises robust security measures.
• Custom-Tailored Solutions: Avoid generic solutions—choose a company that offers a collaborative approach and develops solutions that specifically address your unique business challenges and goals.  This includes working closely with you to understand your industry, target audience, and desired functionalities. The best companies will involve you throughout the development process, ensuring the final solution perfectly aligns with your vision.

While all leading Australian blockchain companies share core competencies, some key differentiators exist:

• Industry Specialisation: Some companies focus on specific industries, such as healthcare or supply chain management, while others offer a broader range of services.
• Project Scale and Complexity: Some companies excel at handling large-scale enterprise projects, while others cater to smaller, more agile projects.
• Technological Expertise: Companies may have varying levels of expertise in different blockchain platforms and technologies.

The specific services offered can vary, but generally, the leading blockchain companies provide:

• Blockchain consulting and strategic planning
• Blockchain infrastructure development and management
• Smart contract development and auditing
• Decentralized application (dApp) development
• Tokenomics design and implementation
• Blockchain integration with existing systems
• Proof-of-concept (POC) development
• Market analysis and feasibility studies
• Ongoing support and maintenance

Choosing the right partner is crucial for your project’s success. Here are some key steps to help you settle on the best blockchain development company for you:

• Define Your Needs: Clearly outline your project goals, desired functionalities, and target audience.
• Research Potential Partners: Shortlist companies with relevant experience in your industry and expertise in the chosen blockchain platform.
• Evaluate Expertise and Reputation: Look for companies with a proven track record of success, a strong team, and a commitment to security.
• Consider Communication Style: Choose a company that values clear communication and fosters a collaborative partnership.
• Compare Costs and Proposals: Gather proposals outlining the scope of work, timelines, and costs to compare offerings from different companies.

The field of blockchain is constantly evolving, with exciting trends emerging. Here are a few to watch:

• Interoperability: Efforts to enable seamless communication and data transfer between different blockchain platforms.
• Scalability Solutions: Ongoing research into solutions addressing limitations faced by current blockchain platforms in terms of scalability and transaction speeds.
• Privacy-focused Blockchains: Development of blockchain protocols that prioritise user privacy while maintaining transparency.
• Central Bank Digital Currencies (CBDCs): Many central banks are exploring the potential of issuing crypto currencies leveraging blockchain technology.