Smart contracts are self-executing cyclical algorithms integrated into the blockchain code. Such technologies automatically perform a chain of tasks with minimal human control. American computer scientist Nick Szabo first mentioned smart contracts in 1996. However, at that time, the idea was too futuristic and did not resonate with the audience. This continued until 2008 when Bitcoin was introduced to the world with its own blockchain. Today, dozens of developers worldwide are taking advantage of the technology. This article will talk about the leading smart contract development companies.
The prospects for smart contracts in 2022
Most smart contract development companies are actively working to correct existing technology shortcomings. In the coming years, smart contracts will be able to replace most of the workflow operations in finance. Many of the world’s leading banks are experimenting with blockchain technology. The current year may be the starting point for using blockchain technology at a higher level. There are several main types of smart contracts, which are classified according to the following criteria:
- Working area — centralized or distributed
- Anonymity level — confidential, open, or completely open digital solutions.
- Triggering mechanism — limited or preset
Also, the degree of smart contract automation plays an important role. Cryptocurrency solutions are part of the blockchain code and work directly within the network. They perform the function of familiar paper contracts familiar, only in the digital field. The conditions are written not with a pen on paper but with mathematical algorithms and programming languages. This parameter shows whether the digital contract can function in the virtual space or whether an additional paper carrier of information is required.
Top-7 best smart contract developers in 2022
Smart contracts have been actively spread worldwide and are becoming more popular every day. Every IT enterprise tries to bring something new to digital technology. Such popularity is due to several advantages that smart digital contracts provide in many ways. They allow you to optimize and speed up many routine processes and reduce (or eliminate) the involvement of the intermediary party. Below are listed the best smart contract development companies in the united kingdom.
ScienceSoft — one of the best multiple platforms
The developer started his way at the beginning of 1989. Software development includes services for the implementation of various types of blockchain solutions. The list of solutions includes private and public networks, mobile app development, smart contracts, crypto wallets, and trading platforms. In addition, the company develops blockchain-based identity management systems and document management software.
Brief information:
- Headquarters: McKinney, Texas
- State: Over 700 employees
- Estimated annual income: $30 million
ScienceSoft has 32 years of experience in distributed ledger technology and software development. Employees of this company own leading blockchain design and implementation technologies and have practical knowledge in dozens of related industries. This includes e-commerce development, retail, wholesale, banking, financial services, the use of quest global technologies, etc.
AVA Labs — leading enterprise software development company
Ava Labs was founded in 2018. This company employs some of the best specialists from New York in IT. Ava Labs specializes in web development, smart contracts, financial solutions, work with artificial intelligence, etc. The Ava Labs team has vast experience and is behind such developments as Avalanche and Ryval smart contracts.
Brief information:
- Headquarters: New York
- Employees: 100+
- Estimated annual income: $1 million
The Ava Labs team has teamwork experience in large technology companies (Microsoft, for example). Using the Avalance solution, companies can integrate custom software development for smart contracts based on the Solidity language. Examples of such developments include crypto wallets, mobile app development, decentralized finance, and other blockchain use cases. Big data consulting Ava Labs can become a smart contract partner or create a turnkey solution.
Evercode Lab — a professional team in the digital transformation field
Evercode Lab is engaged in smart contract development since 2013. The company has several offices in Russia and Cyprus. The work of Evercode specialists is focused on custom software development, creating and maintaining a business model, and management, integration, and further maintenance of the software. Speaking of smart contract development, Evercode Lab has experience in crypto wallet development, mobile app development, and various use cases for blockchain solutions.
Brief information:
- Main office: on the island of Cyprus, Larnaca
- Employees: 40+
- Estimated annual income: $3 million
Evercode Lab is also working on web development for medical and educational areas. The company has Evermarket and EverCourse platforms for this. Another smart contract from Evercode is a solution for integrating Everchain virtual wallets. The company offers mobile development for banking, e-commerce, and CRM for small, medium, or large companies. Evercode is one of the leaders in top smart contract integration.
Cygnet Infotech — a great project for IT development
Cygnet Infotech software company started its journey in 2000. It is one of the largest IT organizations that work with smart contract solutions and has more than 500 employees. Cygnet staff includes engineers, web development specialists, software experts, and smart contract development programmers. The developer has offices in the UAE, USA, India, Australia, and South Africa. Products from Cygnet Infotech are used by small, medium, and global businesses.
Brief information:
- Headquarters: Ahmedabad, India
- Employees: 500+
- Estimated annual income: $50 million
With a colossal geographic coverage, the Cygnet developer plans staff augmentation in 2022. Infotech has software for blockchain integration, cyber security, app development, cryptocurrency development, and ICO solutions as a service that offers smart contract solutions. Web app development products cover banking and finance, smart contract development, marketing, education, trade, tourism, blockchain development, hospitality, etc.
4soft — a leading provider of mobile app development
The company was founded in 2013 and had offices in Poland and Dubai. 4soft develops smart contract solutions based on blockchain. In addition, 4soft specialists work on Ethereum based on ERC-20 protocols. At the same time, software development includes security and utility tokens. Among the regular customers of the 4soft developer are Elliptic, Cigaset, Artgeist, and ITSEC Asia. The developer specializes in smart contract development, UX/UI design, blockchain development, and customized quest global technologies.
Brief information:
- Main office: Czech Republic
- Employees: over 500
- Average income per year: >$5 million
Custom software development from 4soft includes healthcare software, blockchain software, smart contract development, and financial solutions. In addition, this developer has several telecommunications solutions and experience in artificial intelligence and cryptocurrency operations. 4soft provides smart contract programming, trade cash (including mobile apps), customized smart contract development, and project management for auditing smart software.
Second State — leading developer of blockchain applications
The Second State project was founded in 2019; now, the provider’s offices are based in the US, Taiwan, China, and Australia. The company has experience in custom software development based on blockchain. Thus partners and clients of Second State can automate business processes. The developer uses his own programming language Lity, in web development. For app development, decentralized smart contracts based on Ethereum 2.0, Ethereum Classic, Polkadot/Web3, Oasis, and CyberMiles are used.
Brief information:
- Headquarters: Texas
- The staff of specialists: 50
- Annual profit: information not disclosed
Second State’s smart contract development services help clients conduct exiling technologies compared and create formal business rules in smart software. These rules can be changed or supplemented depending on the customer’s needs. As a result, you get custom software solutions with open source. Second State also provides data analysis services and development tools. This is an important aspect for clients whose activities are banking and finance.
Eleks — the optimal solution for smart contract development
The company started its journey in 2010 and now has more than 2000 IT specialists in smart contract development. Eleks has more than 15 offices, including Tokyo, Toronto, Chicago, London, Berlin, Las Vegas, Ajman, and Ukraine. Eleks offers optimized solutions in mobile app development, business tools, web development services, and consulting services. Eleks specialists can also help with the conceptualization of projects.
Brief information:
- Headquarters: Las Vegas
- Employees: 2000
- Estimated annual income: $75 million
Eleks also offers customized services in mobile app development, past vendors analysis, and smart contract development to improve efficiency, security, and quality of service. Such solutions eliminate the need to work with intermediaries and reduce costs and increase the efficiency of a business project. As a result, many customers regularly order secure smart contract development solutions from Eleks.
FAQ
The use of smart contract development includes cryptocurrency transactions, credit transactions, custom software development, data distribution, storage, etc. For example: during voting, solution smart contracts are used to verify the identity of voters and prevent re-voting or data breaches.
Ethereum allows the development of software that will further generate new tokens according to the ERC-20 standard. Most of the companies listed in this article use Ethereum for smart contract development.
The choice of the concept of smart contract development depends on the goals and requirements of the customer. Therefore, it is optimal to choose a personalized software solution that is most suitable for the needs and requirements of a business project.
Smart software provides anonymous and instant transactions between participants in the transaction. In addition, such solutions guarantee the security and automation of many IT processes.
Smart software has various uses, including automation of transactions, data storage, and cryptocurrency trading.