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Cost of Blockchain Implementation

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Blockchain has emerged as a highly leveraging technology leaving a great impact in the new digital economy. With the promising use-cases, the technology still thrives on flourishing for maximum optimization and effective business transformation. Governing the major implications, the industry experts expect that the investment in blockchain will grow significantly. According to Markets and Markets, the global size of the blockchain market is predicted to rise from 3 billion USD in 2020 to 39.7 billion USD by 2025, with a CAGR of about 67.3%.

While developing blockchain-powered solutions and apps, it is not easy to estimate the return on investment (ROI) of blockchain development. However, estimation assumes a different dimension of importance in the case of blockchain implementation. For ensuring effective blockchain development, businesses must share their findings optimally among the team. 

It would be inappropriate to know the actual cost of blockchain implementation due to their diverse implications across different industries like healthcare, finance, insurance, agriculture, retail, etc. Let us walk you through the factors that can have a tremendous impact on the overall cost. These factors help determine the project’s budget and give a quick estimate regarding the overall development cost. 

1. Process

The cost of developing a blockchain-based solution depends upon numerous factors like many functionalities, implementation complexity, types of platforms and technology stack. The following development phases involved in the process directly influence the blockchain development strategy and the overall implementation cost.

  • Design

This phase incurs the cost for system blueprint, user interface design consisting of wireframes, high-fidelity and low-fidelity designs with a prototype and app flow.

  • Development

The cost-incurring traits in the development phase include coding and application testing.

  • Deployment

It refers to deploying the application on delivery models or cloud platforms.

  • Migration

It refers to the moving of existing solutions to the blockchain platforms.

  • Maintenance 

It refers to the maintenance cost for the new up-gradation and updation and testing of the application to ensure smooth functioning.

  • Third-party tool integration

The cost may rely on integrating the following third-party tools for hosting, storing, notifying, and collaborating services such as :
Amazon Web service: This tool is essential for cloud computing, storage, and delivery services. The cost may vary between $100 to $1000, depending upon the number of users.

Bug tracking tools: These tools assist in reporting and removing live bugs. Their cost can fluctuate from 10 to 100 $.

Monitoring service: Applications like uptime robots help to send real-time notifications for downtime, whose cost varies from $10 to $50.

Notification services: The notification service tools like Kumulos, Twilio, Amazon SNS will cost about $10 to $50.

Analytics with mixpanel: This tool conducts application data analysis, funnel reporting, insight generation, which incurs the cost of around $10 to $ 150.

2. Complexity

The cost of blockchain implementation depends upon the complexity of the project or application. Numerous factors like t define the complexity of a project, the purpose, problems associated with the end-users, the need for the existing solutions to the problems and the requirement to invest in blockchain development.

Based on the application complexity, the cost for blockchain app development can be categorized as:

  • Low complexity level

These include payment apps, smart contract development apps, which cost between $15000 to $ 40000.

  • Average complexity level

The distributed applications (DApps) with average complexity incurs the cost between $ 30000 to $90000.

  • High complexity level

The enterprise blockchain application from scratch or complete decentralized network for a sophisticated project will cost above $130000.

3. Development Resources

Blockchain project implementation involves an ample amount of effort and time to execute the algorithms effectively. While approximating the budget of blockchain-based applications, it is essential to consider the following development resources.

  • In-house app development group for building blockchain solutions, estimating the cost around ($500,00 to $2000,000).
  • Hiring service providers like freelancers would incur expenses between $30,000 to 90,000.
  • Hiring blockchain app development companies or agencies for supervising the application’s progress, whose cost estimation varies between $150,000 to $500,000.

Working with an in-house team is very expensive, but it offers effective tracking of blockchain app development. On the contrary, if you are outsourcing the project or hiring offshore developers, it could be the least expensive measure but could involve risks.

It is always preferable to go with a software development company possessing in-depth knowledge about the languages, app development contexts, tools, and other prerequisites required for successful implementation. You may also opt to hire freelancers if blockchain app development seems risk-free because the risk factors increase with the project’s scope over time.

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Sony has Revealed the PlayStation 5, PS5 Pro, and a Limited Edition PSOne-Style Device

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In the PlayStation video below, the collection was unveiled along with a limited-edition DualSense, DualSense Edge, and PlayStation Portal. All products will be available for preorder starting on September 26 and will ship on November 21.

There are just 12,300 PS5 Pro bundles available worldwide, making it probably the most limited edition. Included in the bundle are the DualSense Edge controller and case in the iconic PlayStation design, along with the PS5 Pro itself, a vertical stand, a charging station, and other accessories. Along with four cable ties designed in the image of the sacred symbols, an original PlayStation controller-style cable connector, a sticker, poster, and paperclip are also included.

The PlayStation 5 Slim Digital Edition is the other console that is available; however, if you want to utilize discs on the retro-themed console, you will still need to purchase a matching disc drive cover. Along with four cable ties designed to resemble sacred symbols, a sticker, poster, paperclip, and the original PlayStation controller-style cable connector, it also includes a standard DualSense controller and a vertical stand.

Sony withheld the pricing of any of the collection’s products, but enthusiasts who aren’t willing to shell out a lot of cash will be glad to hear that the DualSense controller and DualSense Edge will be sold individually.

As stated on the PlayStation Blog, preorders will be accessible to PlayStation Network account holders via PlayStation Direct on September 26. Additionally, between September 26 and October 10, participating shops will be taking preorders for the DualSense controller and the PS5 Digital Edition. On September 26, those who wish to preorder PlayStation Direct in nations where it is not accessible can do so at participating retailers.

At a technical conference on September 10, PlayStation unveiled the PS5 Pro and its $699.99 price tag. Those who like to use discs and stand their PS5 Pro upright will have to shell out approximately $805 since the regular model does not come with a disc drive or vertical stand.

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Google experiments with Android tablets’ desktop windowing

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Google is testing a new feature for Android tablets that would allow you to easily rearrange apps on your screen and resize them, which will facilitate multitasking. Developer previews of the “desktop windowing” functionality are now accessible, and you can even run multiple instances of the app simultaneously if they support it.

At the moment, Android tablet apps always open in full screen mode. Each program will show up in a window with controls to let you move, maximize, or close it when the new mode is enabled. Moreover, your open programs will be listed in a taskbar at the bottom of the screen.

It sounds a lot like Stage Manager for the iPad, which allows you to do the same with windows on your screen, or with almost any desktop operating system. For years, Samsung has also provided its DeX experience, which gives Android apps on Galaxy phones and tablets desktop-like window management.

When the functionality becomes available to all users, you may activate it by tapping and holding the window handle located at the top of an application’s screen. The shortcut meta key (Windows, Command, or Search) + Ctrl + Down can also be used to enter desktop mode if a keyboard is connected. (You can drag a window to the top of your screen to dismiss the mode, or you can close all of your open apps.)

Apps that are locked to portrait orientation can still be resized, according to Google, which could have odd visual effects if some apps aren’t optimized. Google intends to fix this in a later release, though, by scaling non-resizable apps’ user interfaces without changing their aspect ratios.

For the time being, users with the most recent Android 15 QPR1 Beta 2 for Pixel Tablets can access the developer preview.

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Sony Faces Backlash for Pricing PlayStation 5 Pro Well Above Xbox

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Sony Group Corp. has set the price of its new, faster PlayStation 5 Pro at $700, significantly higher than Microsoft’s Xbox Series X, which costs $600. The PlayStation 5 Pro, launching on November 7, comes at a $200 premium over the original PS5, suggesting Sony is targeting a loyal audience willing to pay extra for enhanced performance.

This pricing positions both Sony and Microsoft at the high end of the gaming console market. Four years into their product life cycles, the two most popular home consoles are moving towards premium models. Analysts are split on whether Sony’s pricing strategy will drive sales, especially as it seeks to grow its entertainment portfolio across gaming, anime, and film.

Industry analyst Serkan Toto described the PlayStation 5 Pro as a niche device aimed at hardcore PlayStation users, rather than a mass-market offering. “It’s about Sony skimming the absolute top end of the market,” he said, with the gaming world questioning Sony’s high pricing.

Others speculate that Sony’s pricing strategy is aimed at boosting margins, particularly after recent price hikes in Japan due to rising component costs like chips. The new console will allow for higher resolution and faster frame rates without requiring users to switch between performance modes, delivering 45% faster rendering than the standard PS5, according to lead architect Mark Cerny.

Despite the steep price, some analysts believe Sony could benefit. Citi analyst Kota Ezawa pointed out that no previous game console successor has been priced significantly higher than the original model, and that the PS5 Pro’s improved components may not justify such a big price jump. Nevertheless, the higher price could enhance Sony’s gross margins.

The PlayStation 5, which has sold over 59 million units since its 2020 release, has slightly lagged behind the PlayStation 4. The increased cost of the PS5 Pro may narrow its appeal, as the price edges closer to that of a gaming PC—one of the console market’s biggest competitors.

Reviewers also highlighted the lack of a disc drive in the new model, reflecting a broader industry shift from physical media to digital content. A disc drive will be available separately for purchase.

In a blog post, Sony announced that the PS5 Pro would enhance the performance of older titles, with several popular games such as Hogwarts Legacy, Final Fantasy VII Rebirth, and Spider-Man 2 receiving free updates to take advantage of the console’s new features.

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