Top Blockchain Development Company In India

 

Are you searching for a top Blockchain Development Company in India? 

There are many companies that are leveraging the technology but choosing the best among

them is a big struggle for everyone.

Today, the potential of this technology is not limited to the financial sector, it is being used by

almost every industry around the world. 

The experts believe that Blockchain is one of the most important tech developments of this

digital era and soon it might emerge as a rival to the internet. 

According to a report published by Gartner, a Stamford-based consulting firm, “By 2025,

blockchain would add a business value that will grow to over $176 billion. This would increase

further to $3.1 trillion by 2030.”

The Rise of Blockchain In India

Blockchain has started creating a lot of buzz in India, recently. The technology is not only being

embraced by the private institutions in the country but also by government organizations.

Currently, the technology is in its nascent phase in the country, but, the experts believe that in

the coming years, blockchain will help India take the digital leap by supporting innovations in

many ways. The technology will frame the future of the country. 

Being a decentralized and immutable technology, Blockchain has the potential to secure data

in a way that makes it difficult or impossible for infiltrators to modify, or hack it.

The popularity of this technology in the country could be guessed by the fact that soon the

Central Bank of India will be introducing a blockchain-based cross-border payment application

for the users.

Benefits of Blockchain Solution

Leveraging blockchain means, utilizing the technology to its fullest. 

  

• Greater Transparency-

Blockchain is a decentralized digital ledger technology, therefore, the data shared on the
platform will be visible to everyone present on the network.
However, if anybody tries to modify that data, then it is difficult for them to do so. The person
can modify the data but for that, he/she requires special permission to make the platform more
transparent.

• Decentralized System-

Usually, a person needs regulatory bodies' approval to process a transaction.
But blockchain technology eliminates their intervention and facilitate transaction with the mutual consensus of users.

• Highly Secure-

Blockchain is a highly secured technology. In order to modify the data on the network, one would

need to shut down the main network, which can not happen. Also, the transactions on the network
are secured cryptographically to provide higher integrity.

• Reduced Cost-

Blockchain eliminates the need for third-party interference which results in reducing cost. 

• Trust- 

The enablement of trust is one of blockchain's most cited benefits. Its value is evident in early blockchain
use cases that facilitated transactions among entities that didn't have direct relationships yet

still had to share data or payments.

• Accountability-

As mentioned above, blockchain is a transparent platform, therefore, every participant is responsible
for the activity happening on the network. 

• Immutability-

The network secures the data in an immutable manner, which means the information can not be modified.

Vegavid Technology is the best Blockchain Development Company in India, that builds blockchain

technology for the clients including these above features. The company has a team of experts

who strives to come up with innovative ideas to help their clients by developing sophisticated

blockchain technology for them.