Please introduce your company and give a brief about your role within the company?
Accubits Technologies is a full-service software provider offering product development and digital transformation services to Governments, Tech startups, Fortune 1000 companies, and Businesses. Accubits helps organizations to be future-proof through data-driven solutions for mobile, cloud, and web platforms. Headquartered in Virginia, USA, Accubits Technologies Inc is an award-winning software development and consulting firm with expertise in product development and digital transformation by utilizing emerging technologies such as Ai, IoT, Blockchain.
As the CEO of Accubits and one of the founding members, my job is to secure the growth of the company and ensure that Accubits Technologies is growing into the right markets and right verticals and sustain that growth over the long haul to achieve our vision.
How does your company differentiate itself from the competition?
Creating the digital enterprise of tomorrow with today’s technology has always been our core value. Accubits focus on emerging technologies and pioneer new ways of doing business. Moreover, we give a lot of importance to research and development. We just launched an AI research lab named Accubits Invent to expedite the research and development in AI technology. We have a large talent pool of unconventional thinkers and innovators to lead the company to become a front runner in this industrial revolution we are witnessing. Our client-focused methodology ensures that our services and products are tailored to each client's unique requirements and needs.
What industries do you generally cater to? Are your customers repetitive? If yes, what ratio of clients has been repetitive to you?
Our clientele is very diverse with Multi-national companies, Fortune 500 companies, and budding start-ups. We have also undertaken several projects for government agencies in various countries. Our clients are mainly from Retail, BFSI, Healthcare, FMCG, Logistics, etc,
We consider our relationship with the clients as the most valued asset. One of the core objectives of Accubits Technologies is to ensure a strong relationship with the clients that go beyond just the delivery of the product or service. So Yes, we have so many satisfied clients that come to us again and again because they trust us with their business needs.
Please share some of the services that you offer for which clients approach you the most for?
Clients from various domains approach us for their blockchain-based applications. We take an integrated approach to tailor our blockchain applications based on the client’s requirements. Some of the common services we do for our clients are Custom Blockchain Solutions, Smart Contract Development, Crypto Assets Development, Crypto Exchange Platforms, Hyperledger, And Multichain Development, etc.
Which platform do you prefer to use when developing a blockchain application? Why?
There is no one-size-fits-all approach when it comes to developing a blockchain application because the requirement of every client is different and unique. Therefore our plan and technical platform differ per client. We commonly use Hyperledger, Ethereum, Multichain, BigchainDB etc.
What tech stack and tools do your developers use?
Are open-source, decentralized protocols going to be more significant than their web equivalent?
I believe, yes. Trust is an important factor for almost all transactions. Since open-source, decentralized protocols can provide a better trustful medium for carrying out transactions, we can expect it to go mainstream in the near future.
What scalability and throughput challenges are there with blockchain? What solutions would you suggest?
Blockchain is a digital ledger which grows as and when new transactions are added in the chain. However, blockchain can only process a limited number of transactions. This ultimately affects the throughput and scalability of the system. In Bitcoin, Block time is 10 minutes as compared to Ethereum of 14 secs. The transaction-per-second rates of centralized payment methods like VISA are 1700 as compared to 7 transactions per second of Bitcoin and 20 processes of ethereum.
The overall throughput of the network can be improved if we divide the chain into smaller shards. Each shard processes a small part of the state and it works in parallel. We can perform part of the transactions off-chain rather than to execute on the blockchain. Only the final proof of the happening of the transaction is saved on the chain.
What are the key factors that you consider before deciding the cost of a project?
Deciding the cost of a project is based on various parameters since many factors influence the cost estimation of a project. Some of the factors that influence cost are the technical complexity of the project, the magnitude of resources needed for the completion of the project and the total payable hours.