A detailed guide to Turing Labs’ blockchain solution development process and fees

Published by kunal on

Come blockchain, and the world is gradually being ushered into a new era of development marked by the implementation of this new technology across industries. Several major companies, governmental organisations and startups are leveraging blockchain for automating business processes, making transactions more secure and efficient, and fortifying data storage. 

We, at Turing Labs, help businesses board the blockchain train. We specialise in providing customised blockchain solutions for businesses are secure, easy-to-use, scalable and cost-effective in the long run. We have a team of experienced developers who have been following the developments in blockchain space since the inception of the technology. 

We have designed blockchain solutions for over 20 companies across various domains including cryptocurrency trading, content rights management, supply chain management and entertainment. In this blog, we will take you through our process of blockchain solution development and our fees. The blog will delineate the following –

  • A step-wise course of the development process – from defining the scope of work to deploying the solution.
  • The specialists involved in executing each step of the process
  • The time taken to execute each step of the process
  • The fees charged at each step of the process

Let’s begin!

Step 1 – Defining the scope of work

By this time, the pain points of the client’s business have already been discussed and a rough outline of the blockchain solution has been developed. The client now tells us about the specific features they would like to have in the solution. It could be a consensus algorithm, a customised Smart Contract, transaction privacy or a non-blockchain blockchain aspect such as the interface of the product. In this phase, the solution, which was just an outline before, is defined in as much detail as possible so that our developers get a fair idea about the amount and type of work involved. 

Step 2 – Defining Technical Architecture

In this step, we discuss with the client technical architecture of the product – how different components and technologies will interact with one another to perform functions. The technical architecture gives a high-level view of how the product will work.

Step 3 – Choosing languages and technologies 

In this step, we fill in the technical details in the architecture of the product. For example, if a solution can use both Ethereum and Stellar blockchains, we will inform the client about the pros and cons of both the technologies and help them pick one. Similarly, we will discuss with them the front end and the back end technologies. Here are the technologies we have been working with for our products – 

Frontend Technology (This is what a user of the product would see) 

-HTML 5

-CSS

-JavaScript 

-React

-Angular 

-Vue 

Backend Technology (This is where the core functionality of a product is developed) 

-Ruby

-Java

-PHP

-Python

-.net 

-C++

-Node JS 

-Golang

Blockchain Technology (This includes a particular process such as enabling an automated transaction, depending on the use case) 

Examples of Public Blockchains: 

-Ethereum

-Cardano

-NEM

-NEO

-Tron

-EOS 

Examples of Private Blockchains:

-Corda

-Hyperledger

-Multichain 

Database (This is where your data would be stored) 

-Mongo DB

-Postgres

-My SQL 

-Cassandra 

-Level DB 

-Timescale DB 

Step 4 – Defining Deliverables

After establishing the scope of work and designing an elaborate blueprint of the product, we decide the deliverables. If a product can be sliced into separate pieces, the client can choose what pieces they want. 

Step 5 – Defining Timelines 

Once the deliverables are specified, we discuss the timeline of the project with the client. We share our standard delivery time for the completed and tested product, but clients can also opt for faster deliveries. 

Step 6 – Defining Resources and the Number of Hours required to complete the product

We believe in absolute transparency with our clients. We analyse the number of team members we will be deploying, and the number of hours each team member will spend on developing the product and share the same with the client.

Step 7 – Sharing Pricing

We calculate our pricing factoring in the number of resources deployed, customization asked for, and the total time for completing the project. Once the final amount is calculated, we share that with the client. 

The resources involved in a typical project and their hourly rates –

Solutions Architect (Generally involved only at the beginning of the project) – $50-$75

Blockchain Developer- $45-$65

Dev Ops/Backend Developer- $30-$50

Quality and Testing Developer (Generally involved towards the end of the project) – $18-$35

Project Manager- $28-$42

Frontend Developer- $29-$38

UI/UX/Graphic Designer (Usually involved when we are creating designs for the clients; Involved only at the beginning of the project) – $24-$29

Sample Scenario: 

Joe comes to Turing Labs saying he wants to create a Blockchain Solution for E-KYC. We get on a call with Joe and understand the pain points of his business and his exact requirements in terms of the solution. Once we get an idea of what Joe wants, we follow the steps given below for developing his blockchain solution – 

  1. Defining the scope of Work: 

Joe wants a blockchain solution which has the following features – 

  1. Allows 3 identity documents to be uploaded on the blockchain (Passport, National ID, Drivers Licenses) 
  2. Captures each individual’s data and upload it to the blockchain (First Name,  Last Name, DOB, Nationality, Current Address) 
  3. Ensures that this information can only be viewed by individuals who are permitted to do so by the original owner of the data. (Permissioned access to data) 
  4. Has an Admin Dashboard to view and monitor who is using the platform for an E-KYC. 

2. Defining Technical Architecture

After understanding Joe’s needs, we would design the technical architecture of the product which shows how different components of the product are interacting with another and how commands and information are flowing from one component to another. 

3. Defining Technologies

Once the technical architecture of the product is decided, we inform Joe about the most suitable technologies that can be used for developing the product and give him our insights on which ones would work the best in this scenario.

In this hypothetical case, we recommend –

Front End: React and Angular 

Backend: Node JS and Golang 

Blockchain: Hyperledger 

Database: MongoDB 

4. Defining Final Deliverables

After finalising the technologies to be used in the product, we list our deliverables and share them with Joe. 

In this hypothetical case, the following are the deliverables – 

Designs for the Landing page and User facing interface

User interface website that includes:

-new user signups

-uploading of data and documents 

-encryption of all data 

-permissioned access to the user so he can decide who he wants to share the data with 

-Payment gateway (Fiat and Crypto) 

Admin Panel 

-Showing how many new users are signing up 

-Validating data uploaded by the user before encryption

-Displaying if the user has paid or not 

-Showing various analytics and reports 

5. Defining Timelines

We will internally decide how long it will take us to complete each deliverable and share our timeline with Joe. 

In this hypothetical case, the timeline will be as follows – 

Designs for the Landing page and User facing interface- 7 Working Days 

Front End

User interface Website that includes- 7 working Days 

Admin Panel – 7 working days  

Backend work- 21 working days

Testing- 10 working days

The total amount of days according to the numbers above would be: 52 Working Days 

But, the timeline we share with Joe will be of 38 days. 

The reason for this is that work in the back end and the front end can start simultaneously after a certain time, and in this case, we have identified this time period as after 14 days. This implies that there will be various developers working on the project at the same time giving 8 hours a day. 

6. Defining resources and hours required to complete the project- 

After sharing the timeline with Joe, we will calculate the pricing for product development keeping into consideration the number of resources deployed and the number of hours each resource will be devoting to this project. In this hypothetical situation, this is how we have calculated the pricing – 

First 7 Days (7 days complete) 

Solutions Architect- 56 Hours

UI/UX/Graphic Designer- 56 Hours 

Project Manager- 56 Hours

Second 7 Days (14 days Complete) 

1 Blockchain Developer – 56 Hours

1 Backend Developer- 56 Hours 

Project Manager- 56 Hours 

Third 7 Days (Where the work starts on the user interface) (21 days complete) 

1 Blockchain Developer – 56 Hours

1 Backend Developer- 56 Hours 

Project Manager- 56 Hours 

Front End Developer – 56 Hours

Fourth 7 Days (Where the work starts on the Admin Panel)  (28 days complete) 

1 Blockchain Developer – 56 Hours

1 Backend Developer- 56 Hours 

Project Manager- 56 Hours 

Front End Developer – 56 Hours

Final 10 days for Testing

Total 38 Days to Complete 

Quality and Testing Developer- 80 Hours 

Project Manager- 80 Hours 

Front End Developer – 40 Hours (Bug fixing) 

Backend Developer – 80 Hours (Bug Fixing and deployment)

Joe can also ask for a slightly shorter delivery time. If he does so, we will add more resources to the team for faster execution. 

7. Pricing for the entire project – 

After analysing the timeline and the resources needed to be put on the project, we will calculate the pricing for the entire project. In this hypothetical situation, let us assume all resources cost $10/hour for simplicity.

Thus, this is how much Joe will have to pay for each service and the final blockchain product – 

Solutions Architect -56 Hours- $560

UI/UX/Graphic Designer- 56 Hours- $560

Project Manager – 304 Hours- $3040

Blockchain Developer- 168 hours- $1680

Backend Developer – 248 hours – $2480

Frontend Developer – 152 hours- $1520

Quality and testing Developer – 80 hours- $800

So, the final quote  for Joe for our services would be: $10,640

*Please note all numbers of hours, costing, technology solutions provided in this example are only for representation purposes, these are not actual numbers/costs*

This is how we, at Turing Labs, calculate the pricing for blockchain solutions. For any queries related to Blockchain product development, please feel free to reach out to us at sales@turinglabs.io 


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