Smart Contract Development: How Long? Cost? Impact?

Smart Contract Development Project: How Long? Cost? Impact?
Amit Founder & COO cisin.com
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In 2023, software development is anticipated to grow even after the COVID-19 pandemic. Software design and development are collectively referred to as software development.

The foundation of the technology we use daily is software, as we all know and adore it. According to Wikipedia, software development refers to the production and upkeep of software frameworks, programs, and other parts.

The software can be classified according to its intended purpose.


There are four types of software: driver software, system software, program software, and programming software.

There are four types of software: driver software, system software, program software, and programming software.

 


Software Development

The core of the IT industry is software development. There are ten types of software development.


1. Program Development

It involves the creation of computer software, or a collection of programs, to assist individuals, companies, and organizations in using features.

These are typically operating system apps that carry out normal functions.

Application Development languages: Java, C/C++, C#, Python, etc.


2. Web Development

It is the process of developing an internet-accessible website. Simple static web pages to sophisticated web applications are all examples of web development.

Thousands of related pages are created during the web development process. A web developer can only do this.

Web Development Technologies: HTML, Javascript, PHP, Ruby on Rails, ASP.NET, Django and C/C++.


3. Mobile App Development

It is also known as Mobile App Development. This involves creating an app that runs on mobile devices like iPhones or Android.

Mobile Development Technologies: Android, Swift, Objective C, HTML5, Java, C#, Javascript, etc.


4. Data Analytics

Machines are fed massive amounts of data to enable them to make judgments on their own. The goal of data scientists is to assist.

Data scientists ensure that the data is adequately prepared for use in AI applications.

Data Science Technologies: MATLAB, Python, C/C++, etc.


5. Software Tools Development

Tools that enable other software developers to test and code are created using this software. To maintain industry standards when creating their program, developers use this software.

Tools Development Technologies: Java, Python, and C++


6. API Development

The software programmers construct to connect the various operating systems is called an API (Application Programming Interface).

APIs are created for particular systems. The programming language for that specific platform or device is contained in each API.


7. Embedded Systems Development

This is the process of developing software specific to a particular system your device or machine runs on.

This software development focuses on the coding skills required for embedded systems.

Embedded System Technologies: Embedded C, Assembler, Python, Arduino, and Java


8. Security Software Development

The cybersecurity team creates software to defend the organization's priceless assets against viruses, theft, and other hostile activities.

White hat hackers and cybersecurity professionals collaborate to strengthen corporate security and safeguard sensitive data.


9. Cloud Computing

Instead of using personal servers to store data or access services, cloud computing services use a network of remote servers.

Developers of cloud computing software produce the code that drives cloud storage applications. Amazon Web Services (AWS), Github, and Onedrive Storage are examples of cloud computing applications.

Cloud Computing Technologies: Java, XML, R, Erlang, Google's Go, Clojure, and many more.


10. Database Development or Backend Development

Back-end Development (also known as Database Development) happens behind the scenes of the system. The data is stored on the website's server-side or back end.

Back-end development is dominated by database management. For organizations with large amounts of data, it is the backbone.

Back-end developers organize and manage large amounts of data during the back-end development process.

Backend Development Technologies: Python, Java, C++, MySQL, dBase, and Oracle for the Database.


SDLC Software Development Life Cycle

Software development is carried out using the Software Development Life Cycle (SDLC). It guarantees the accuracy and quality of the software.

The software company's development staff adheres to the SDLC structure. Delivering high-quality software that satisfies client needs is the goal of this approach.

A plan called the SDLC describes how to create, develop, and maintain software. The SDLC cycle is broken down into phases, each containing a process and outputs that feed into the next step.

The software development process is another name for the software development lifecycle.


What's SDLC?

What's SDLC?

 

It allows users to see and understand the activities involved in a step of the Software Development Life Cycle (SDLC).

It also allows users to see how steps can be repeated and which previous steps can be reworked if they need to improve or modify the system. These are some main reasons SDLC is so important when developing software systems.

  1. Foundation: This foundation provides a base for project planning, scheduling, and estimation.
  2. Framework: This framework provides a structure for a set of activities and deliverables.
  3. Observe: It is a tool for project tracking and control
  4. Visibility: Increases visibility of project planning for all stakeholders involved in the development process
  5. Pace: Increased speed and enhancement of development
  6. Reactions: Improved Client Relations
  7. Risk: Helps to reduce project risk and project management plan overhead

This guide covers the entire process of software development.


Phases of SDLC

  1. SDLC can be divided into 7 phases.

    These phases are as follows.

  2. Phase 1: Requirement Analysis
  3. Phase 2: Feasibility Study
  4. Phase 3: Design
  5. Phase 4: Coding
  6. Phase 5: Testing
  7. Phase 6: Installation/Deployment
  8. Phase 7: Maintenance

Phase 1 - Requirement Analysis:

Requirement Analysis is another name for requirement engineering. It involves figuring out what users want from newly built or changed software.

Requirement gathering and requirement capturing are other names for it. It entails figuring out what conditions or requirements a project or product needs to meet, considering potential conflicts between requirements, and assessing, documenting, validating, and maintaining the software or system requirements.


What's the Requirement Gathering?

What's the Requirement Gathering?

 

The capacity of an end-user or system component to solve a problem or achieve a goal is referred to as gathering software requirements.

But, for software to fulfill a contract, specifications, or standards, it must conform to the needs of a system or component. We pledge to produce top-notch software on schedule and within budget, meeting the needs of our clients.

The hardest part is getting the customer to understand your vision for the finished result. Everyone working on the project must know the end product's appearance and feel.

These are the goals for performing a requirement analysis at the beginning of a software development project.

The How: Software engineering bridges software design and system requirements engineering.

Orthogonal views: Provides a software designer with a model:

  1. System information (static view).
  2. Function (functional view).
  3. Behavior (dynamic view).

Software Architecture: This model can be modified to create data-, architectural and component-level designs.

Incremental and Iterative Process: You can expect to do some design during analysis and some design during design.


Requirement Analysis

The quality of the requirements analysis determines whether software development or system implementation is successful or unsuccessful.

These specifications must be traceable, documented, and actionable. Additionally, they must be relevant to the demands and prospects of the classified business. For system design, it's critical to articulate the requirement in enough depth.

The four conceptual activity kinds that make up a requirements analysis are as follows:

Requirements gathering: This is communicating with users to find their actual requirements.

This is also known as requirements gathering.

Analyzing requirements: This is the process of determining whether the affirmed requirements have conflicting requirements and then resolving these matters.

Requirements modeling: There are many ways to document requirements. Natural-language documents, use cases, user stories, and process specifications are the most common.

Retrospective and Review: Team members reflect on what happened during the iteration and suggest improvements.

Requirements Analysis requires hardware and software engineering expertise and the ability to deal with people.

  1. These are the significant activities that go into requirement analysis.
  2. Identify the needs of your customers.
  3. Assess the system to determine its feasibility.
  4. Do economic and technical analyses.
  5. Assign functions to system components.
  6. Set a time frame and set constraints.
  7. Create system definitions.

Requirement Analysis Techniques

To ascertain the requirements of its stakeholders, organizations might employ requirement analysis. Additionally, rather than sending pages of text to stakeholders, the development team can interact with them using visuals like flowcharts, models, and charts.

The program is made to assist you in comprehending your concept, your target audience, and your rivals. Additionally, it aids in reducing business and technical risks.

Our business analysts use this data to produce a detailed strategy that specifies the scope, schedule, costs, and user flow for building a market-ready product.


Phase 2 - Feasibility Study:

Feasibility studies examine the suggested system's functionality, user requirements, resource efficiency, cost-effectiveness, and usability.

We carry out feasibility tests to determine an idea's viability. This aids us in figuring out whether the solution we selected to satisfy the requirements can be used in the software.

The feasibility study aims to ascertain the justifications for creating software acceptable to end users, can foresee changes, and complies with agreed standards.

The following list contains the feasibility study's goals.

  1. This tool can assess whether the program satisfies your organization's requirements.
  2. To ascertain whether the program can be deployed using the available technology, within the allocated money, and on time.

Read More:- Custom software development process stages in 2023


Study on Types of Feasibility


1. Economic Feasibility:

The ability of the necessary software to bring about financial gains for an organization is known as economic viability.

This covers the expenses incurred by the software development team and the expected costs of the necessary hardware, software, and feasibility study expenditures. In this estimate, it's crucial to account for costs like hardware purchases and other duties necessary for software development.

The process of developing software has several advantages. Software that resolves the problems outlined below is economically viable.

If software satisfies the requirements below, it is deemed economically feasible.

  1. Costs associated with software development can be high, but they have long-term advantages for businesses.
  2. How much does a full software investigation cost? (such as requirements elicitation of requirements analysis).
  3. equipment, software, a development team, and instruction cost

2. Operational Feasibility:

Demonstrates that the software can solve business problems or meet user needs. This depends on the software company or team that developed it.

It involves visualizing how the software will work after development and determining if it will be functional once installed.

Operational feasibility also does the following tasks.

  1. It determines whether user requirements have high priority.
  2. This determines whether the solution proposed by the software development group is acceptable.
  3. Analyze whether users will adapt to the new software.
  4. This determines whether the company is satisfied with the alternatives suggested by the software development group.

3. Technical Feasibility:

This is the assessment of the available resources, such as software and hardware, that are needed to meet user requirements within the timeframe and budget.

Software development teams determine whether current technology and resources can be improved or added to the software to meet specific user needs.

The following tasks are also performed by technical feasibility

  1. Analyze the technical abilities and capabilities of members of the software development group.
  2. This determines whether the technology in question is stable and well-established.
  3. Verify that there are many users for the software you choose to develop.

    This will allow you to consult them when issues arise or improvements are needed.


4. Organizational Feasibility:

Does the proposed system fit with the organization's strategic goals?


5. Social feasibility:

Does the problem solve itself without creating any social problems? How good the system is to society.


Phase 3 - UI/UX Design

The design phase is a stage where specific blueprints are created to meet the information technology needs of the user.

This stage explains how well the system can accommodate user needs. The design functions and operations of the system are thoroughly described in this phase. The storyboards and screen layouts include annotations, process diagrams, and business rules.

The result of the design phase can be used to characterize the new system in terms of its modules and subsystems. These prerequisites cover training, assistance, and functional needs.

The functional requirements for the system are discussed and chosen. A preliminary (or broad) system design that emphasizes the system's functional elements is made as a guide.

After that, a final, more detailed system design is produced. This broadens the design and lays out every technical aspect needed to assemble the system.

The Design Phase includes the following:

  1. It is choosing the right Database Management System (DBMS).
  2. Security standards for the system
  3. Interface Design
  4. Requirements for Data Capture
  5. The standard for printing reports
  6. System navigation methods

Phase 4 - Software Development & Coding

Most important system-related decisions have been made, and the design process is now complete. The goal of the coding phase is to use a specific programming language to translate the system's design into code.

This stage is in charge of effectively putting a design into practice. This stage significantly affects both testing and maintenance. Effective coding decreases the need for testing and maintenance.

Reducing testing and maintenance efforts is critical since the expenses of maintaining and testing software are far higher than the development cost.

The most extended phase of the software development cycle is the coding phase. This phase is where developers create their codes.

These codes are then merged with the codes of other developers to ensure that modules created with different developers work seamlessly together.

These are some tips to remember during this phase.

  1. This phase requires a version-controlled application.
  2. It would help if you spent some time selecting the right tools for your development needs.
  3. Before you begin coding, define some standards.

    Multiple developers will be using them.

  4. During this stage, leave appropriate comments so other developers can learn about the logic behind your code.
  5. Regular team meetings are necessary to identify and fix bugs early.

    This helps in the development and maintenance of high-quality coding.


Phase 5 - Software Testing:

The system is put into a testing environment when software development is finished. The testing team evaluates the entire system.

This test verifies that the application satisfies the client's needs.

The QA/testing team may discover bugs or other issues during this phase, and they will inform the developers.

The development team fixes the bug and returns it to QA for another test. The procedure is repeated until the software complies with the demands of the business.


Phase 6 - Cloud Deployment:

The system can begin the final deployment phase after the final testing, and the system has undergone a successful test.

Making the software work in a natural environment is the goal of the installation or deployment phase. This activity should be finished only once the program has been thoroughly tested and approved by the company throughout the testing phase.

Here are some things to remember during the deployment phase.

  1. Schedule and phase of deployment.
  2. This new system offers many benefits to users.
  3. If the software is updated, educate the users about the features of the new software.
  4. If you provide support for the sale, it is essential to maintain a clear channel of communication.

Phase 7 - Software Maintenance:

As they say, the maintenance phase marks the "end" of the beginning. The software development life cycle is still ongoing.

Software's proper operation requires constant monitoring. Bugs and errors found in software during production should be reported. This frequently results in the reintroduction of work.

Even while bug patches might not be possible to go through the complete production cycle, it's crucial to use at least a portion of the process to prevent regression, which is the introduction of new issues.

Following the system's deployment and user launch, the following processes occur.

Bug fixing - Bugs are reported due to some scenarios that are not tested.

Upgrade - Upgrading to the latest version of the software

Enhancement - The addition of new features to existing software


Top Software Development Trends for 2023

Top Software Development Trends for 2023

 

Due to the growing usage of software technology, one sector has experienced ongoing changes in its practices: the software industry.

IT trends, and new software advances in their industry are familiar to software developers. The same services are provided to businesses by software development companies.

The IT sector has grown significantly during the past few years. According to research, IT investment will increase by 10%.

The worldwide IT sector had some revenue declines. The IT sector overcame the slump's obstacles despite being more resilient than other industries during the pandemic.

It was, however, equally susceptible to budget cuts and delays in significant investments.

the technology sector will be worth $7 trillion. This would represent 4.2% growth, which signals a return to the sector's pattern before the epidemic.

The trends are changing yearly due to new technological advancements and reorganizations in software product development.

The business is transforming due to new software innovations, including cross-platform app development, Blockchain development, and machine learning. The quality of software technologies is constantly rising on a global scale.


Trend 1: The Mixed Reality

Virtual reality (VR) and augmented reality are combined to create a mixed reality. Due to its incorporation into smartphone apps, augmented reality has experienced tremendous growth over the years.

Because smartphones are so ubiquitous, software development firms are vying to create AR applications. Software development companies are hiring numerous AR developers.

Apps for AR are different from VR. They don't need hardware that meets the most current requirements.

Microsoft HoloLens mixed reality technology is used by the US Army for military training. Since 2017, other people have also been wearing virtual reality headsets.

They've also been employed by the network of training facilities known as "Walmart Academies" at Walmart. Walmart has used technology to enhance the employee experience, improve worker skills, and offer new ways of training employees.


Trend 2: Artificial Intelligence

Artificial intelligence (AI) is not overrated despite being a common buzzword. The development of AI tools has now become possible thanks to modern technology.

Whether it be through machine learning, deep learning, or other artificially intelligent technologies, businesses are betting on AI to alter their industries.

Business tasks are streamlined and improved by artificial intelligence. It has provided fantastic assistance for experimentation for web app developers.

As a result, AI is now present in banking, medicine, education, and mathematics.

The benefits of better customer experiences through AI are currently being reaped by 86% of firms, according to the most recent AI research.

25% of businesses implementing AI anticipate higher sales. AI has proven valuable in improving workforce planning, demand projection, and simulation modeling.


Trend 3: IoT

The Internet of Things is a broad category of linked gadgets. Customers and commercial sectors can now use these applications.

In the domains of safety and customer experience, IoT is expanding quickly. Just a handful of the numerous internet-connected devices that can be used to connect to your computer or phone include smart microwaves and Bluetooth trackers.

More devices will benefit from more wireless bandwidth and lower power consumption due to the introduction of technologies like 5G, creating new opportunities for the Internet of Things.

More than 64 billion connected IoT devices, sensors, and actuators are expected to exist, according to Research.

The reduction in hardware unit costs will drive this 200% increase since 2016.


Trend 4: Progressive Web Applications

Web and mobile applications are combined in advanced web applications. Since they are easy to design and maintain, these apps have received the majority of attention from mobile app development businesses in recent years.

These programs differ significantly from other mobile programs. Even with slow internet, these apps load swiftly. They mainly rely on the custom development services worker and their script.

Any browser or device can visit websites but cannot take advantage of platform-specific hardware for optimum performance.

On the other hand, native apps may make the most of the native platform's hardware and software capabilities to the fullest extent. They can only be used on the platform for which they were designed, though.

Progressive web apps are a way to find the perfect balance between speed and accessibility by providing app-like experiences right from the browser.

Progressive web apps combine new web technologies in a way that makes it simple to create web-based tools that run on every platform. As they usher in a new era for web development, major companies such as Adobe and Google have already committed to developing progressive apps.


Trend 5: Blockchain

Blockchain technology is one of the technologies that receive the most attention in the software sector. Digital currencies like Bitcoin and Ethereum would not have been conceivable without technology.

Blockchain is receiving more attention in the healthcare industry's banking, publishing, journalism, and software development.

Software developers are searching for creative methods to use blockchain technology, a recent technological advancement.

Developers seeking to create open-source, decentralized, and secure apps frequently use dApps, which are distributed apps.


Trend 6: Language Trends

Languages and frameworks for programming them are now available thanks to software technologies. Full-stack developers use JavaScript and the numerous frameworks it provides.

It can be utilized in hybrid applications because it is adaptable.

Businesses should select the best language to design their software at the start of a project to minimize potential problems.

You can use statistics to judge the usefulness and appeal of various languages.

According to the most recent survey, the most popular framework was Node.js. React is closely behind Angular.

JavaScript is preferred because of these frameworks.

The programming language JavaScript came first, demonstrating its enormous popularity.

A wide variety of languages are available for you to select from and utilize as necessary. This information can be used by businesses to plan their custom software development projects for the year.


Trend 7: Low Code Development

Low code development is like using a software business to build Lego structures. Complex codes are not necessary, thanks to low code development.

Clients can be professionals to understand the software project. Customers can now customize their software in this way.

It is an essential tool for businesses preparing to shift through digital technologies. This does not imply that this is a sensible method of coating.

There are better options than this if organizations require complex, structured custom development solutions.

Want To Know More About Our Services? Talk To Our Consultants


Trend 8: Cybersecurity

Nowadays, there is a problem with cyber security. Since so many activities may be done online, security is crucial.

Can you picture your life without security? A vital component of human life is security. The corporate world is also affected by this issue. The primary worry for custom software developers today is software security and loss.


Conclusion

The project execution process will become more fluid as a result of adhering to the software product development phases.

Recognize that the SDLC can be tailored to a project's needs in order to provide the best product.

Finding a trustworthy custom software product development business that uses the most recent technology is necessary for a seamless SDLC process, though.