The chatbot designed to take things to the next level has arrived. It can understand a considerable percentage of your natural language and carry on discussions with you, answering many questions you might have. ChatGPT’s fast climb to popularity may be attributed in part to the fact that users on social media have been exhibiting the tool’s versatility throughout the past few weeks.
It reached a hallmark that other social networking sites like Meta took 10 months and streaming platforms like Netflix took three years to achieve. The reason for this is that it attracted over a million new members in only five days. OpenAI, an artificial intelligence (AI) research startup backed by Microsoft and Elon Musk, developed the chatbot system. It uses its GPT3 (Generative Pre-Trained Transformer 3) language model, which enables humans to have natural-sounding conversations with computers on almost any subject.
Among the most advanced language processing models yet created, it can reply in many ways, even by switching between different languages. For its training, it was given access to a massive dataset.
What is ChatGPT exactly?
ChatGPT was developed by OpenAI, a company that focuses on the research and advancement of artificial intelligence. There are a plethora of uses for it, such as
The process of debugging and fixing the code
Producing text summaries
For logical inferences
Explaining how something works, such as a code block
Simply put, it can do a lot of different things that can simplify daily life for a large number of people.
As the most recent member of the GPT family of autoregressive language models, the chatbot created using the GPT-3 model is now in its beta testing phase. It has been called a “Google alternative” since it can do many of the same functions that Google does for its customers. That’s why we’re using these words to describe it. It can also perform other things, including creating content for websites and answering client questions.
How does it work?
First, let’s look at what chatbots are. By simulating human conversation and responding to predetermined triggers and algorithms, chatbots can do tiresome, repetitive tasks. A chatbot or voice assistant is a computer program that can carry on a conversation in place of a human user in a mobile or web app by simulating human speech and typing.
So, how does ChatGPT work? ChatGPT is taught using a large online knowledge library, similar to other artificial intelligence components. There are different methods of learning. The way that ChatGPT was trained (the process in which the model learns) is one (actually two) of the many different techniques belonging to two broader categories of learning called supervised learning and reinforcement learning. Using its conversational interface, it can answer follow-up questions, refuse some requests, and determine when it has malfunctioned or made a mistake (but this is not possible for all the cases.).
Given the increasing use of chatbots for activities like customer service, these features may not seem particularly remarkable. Differentiating features include the fact that most chatbots only deliver a small set of pre-programmed, repetitive replies. Conversely, ChatGPT can respond to a query in real-time and change itself throughout a conversation as a human would.
Is there anything we’re missing in our understanding of Chat GPT?
The application’s ability to provide information and reply to questions in a way resembling a normal conversation is a direct result of its training using machine learning. Because of this, the model has a lot of practical value.
1. Techniques employed
In games like chess, go, poker, and Atari games, in particular, the results of using these methods have been nothing short of astonishing. However, in a discussion, there are no set rules or rewards, making human participation crucial.
This result was attained by first asking a model a question, then using a subset of its replies as an example, and then letting a human rate them. And the learning pipeline also includes utilizing these positions to train a reward model. A language model that has been trained using reinforcement learning to answer questions is going to be used to further improve the reward model’s output.
In the realm of more specialty games like poker, chess, go, and Atari games, the results of using these techniques have been particularly amazing. The participation of humans is necessary for this situation since a dialogue does not have constraints as we do in those games. The game contains fixed rules and rewards, regardless of any player’s actions. The method used to do this was asking the model a question, selecting some of the results it returned, and then assigning a value (called the cost which measures the error it has made) to each result.
This fed-back data was then fed into the reward model’s training procedure. By optimizing the output of the reward model, reinforcement learning has been used to teach a more complex language model how to respond to questions.
2. Open source, free to use, and based on the GPT-3.5 language model
On November 30, the public was given access to the OpenAI chatbot, which is powered by ChatGPT-3.5. For its language processing, ChatGPT employs OpenAI’s GPT-3.5 model. The extensive text data used to train the sophisticated machine learning model was collected from a wide range of sources.
3. Reacts to whatever is stated or done
Computers that can “have a conversation” with a person are called “conversational agents.” ChatGPT, as described in OpenAI’s conversation model documentation, is capable of processing any kind of text, from conceptual essays to mathematical solutions to fiction. It can also address follow-up questions, and the company claims it can admit fault when it messes up. But remember that this claim is about the data not being available in the dataset it was trained on and not about being unable to interpret something.
4. Conversational communication
Distributing GPT-3 in the past has caused several issues for businesses. Because it could not generate new information on its own, the model failed to satisfactorily address many of the questions posed to it. When using a model, it is not uncommon for users to need to tweak the prompt or the content supplied to the AI to get the desired response.
In any event, having the model prompt instead of you would be ideal. If the model is having trouble understanding your inquiry, it should ask you to restate it in a way that it can understand rather than try to force you to change the meaning of your query. Therefore, this product, together with Chat GPT, is the current center of attention.
5. Modify people’s search engine behavior
If search engines could provide users with more than simply links to browse through, they would have the potential to utterly transform the way people use them by helping them find answers to complex problems. In addition to being a useful debugging companion, it may fix the problem itself if you ask it a question.
Tips and tricks for maximizing your ChatGPT-3 experience
Here is a set of recommendations and guidelines for working with this chatbot based on ChatGPT-3:
IChatGPT-3 extrapolates patterns from data.
The same questions will be asked again and again by different people. Chat GPT-3 can automatically create replies that are both timely and accurate.
Use it to learn new things and then test them out.
Utilization of ChatGPT-3, which enables the creation of complicated conversations consisting of many stages, will provide users with a more natural conversational experience.
You may make your life much easier by tapping into the power of ChatGPT-3 with the help of these tips and tricks.
By providing it with information on a topic, you may train ChatGPT-3 to understand and respond to questions on that topic. Improved results and more precise responses will result from doing so.
Integrate with the features and functionality offered by other services.
To make tasks like scheduling appointments or making payments more streamlined, ChatGPT-3 may be integrated with third-party services like calendars, payment processors, and databases. However, remember that there is a privacy concern over this though, similar to the concern with Google Duplex.
Have meaningful, in-depth discussions.
OpenAI published ChatGPT, an AI chatbot system, in November to demonstrate and evaluate the capabilities of a large-scale, sophisticated language model. You may ask him any number of questions, and he will usually provide a beneficial answer.
In this day and age of the internet, “How to Create NFT” has become a popular subject of conversation. This is because NFTs have become a cultural touchstone over the past few years. They are always in the news because of the revolutionary concepts that follow. For example, NFTs provide a digital identity for any artifact. While it can be challenging to predict whether or not they’ll be popular again after a downturn, there are many reasons why someone would want to give it a go. Who could ever reject a sector of the economy where innovators have earned millions?
Before we go into how to create an NFT, let’s go over some of the fundamentals of what an NFT is and the choices you may have to make before opting to sell one of these.
So, what exactly are these NFTs?
It would help if you have a solid understanding of the fundamentals before you could go on to learn how to create an NFT. Then, what exactly are NFTs? You may think that non-fungible tokens, which have taken the world by storm, are more sophisticated than they are, but they’re not. Cryptographic assets on a blockchain with unique identifiers and information are known as non-fungible tokens (NFTs). They are not exchangeable or tradable at parity, unlike cryptocurrencies. A fungible token, on the other hand, such as a cryptocurrency, may be used as a means of exchange for commercial transactions since each one is identical.
The potential to own, sell, and even profit from future sales of one’s digital creations makes NFTs potentially revolutionary for artists. You can create NFTs on your desktop or laptop computer and mint NFTs on your mobile device, such as a smartphone. For example, if you’re on the road and want to make an NFT, monitor how your collection is doing, or track NFTs on other blockchains.
How to create NFT: a step-by-step guide
The following is a simple step-by-step explanation of how to create NFT.
1. Pick your item
Let’s get the fundamentals out of the way first. If you haven’t already done so, you’ll need to figure out what one-of-a-kind digital asset you want to transform into a non-fungible token. It might be original artwork, pictures, pieces of music, collectible items from a video game, memes, animated GIFs, or even a tweet. An NFT is a digital artifact that belongs to a single person. The item’s rarity determines the NFT value.
Verify that you are the owner of any intellectual property rights associated with the item you want to transform into an NFT. Making an NFT for a digital asset that you do not personally own might lead to legal issues.
2. Pick your preferred blockchain
The “how to create NFT” guide includes this as one of the most important steps. It’s time to start minting your unique digital asset into an NFT after you’ve decided on it. The first step in doing this is figuring out which blockchain platformyou want to utilize for your NFT. Ethereum is by far the top choice among artists and producers. Cosmos, Tezos, Polkadot, and Binance Smart Chain are a few of the other notable choices.
3. Set up a digital wallet account
To get started with your NFT, you’ll need to create a digital wallet and deposit some bitcoin into it. The wallet will allow you to access any digital assets that you have stored in it. AlphaWallet, Trust Wallet, Metamask, Math Wallet, and Coinbase Wallet are some of the best available NFT wallets.
The first thing you’ll want to do after setting up your digital wallet is buy some bitcoin. Ether, the native cryptocurrency of the Ethereum blockchain technology, is welcomed on the vast majority of NFT sites. It would help if you connected any cryptocurrency you already have in your possession from another source to your digital wallet so you could use it to buy and sell NFTs.
4. Choose your market for non-fungible tokens
It’s time to start creating (and, perhaps, selling) your NFT after you have a digital wallet and enough bitcoin. You will need to choose an NFT marketplace to do this. To help you with “how to create NFT,” here are some marketplace suggestions: OpenSea, Axie Marketplace, Larva Labs/CryptoPunk, Nifty Gateway, Mintable, and ThetaDrop, NBA Top Shot Marketplace, Rarible, SuperRare, and Foundation.
To pick a platform that’s a suitable match for your NFT, you’ll need to do research on each NFT marketplace. For instance, the Axie Marketplace is the online store for the most popular non-fantasy trading card game, Axie Infinity. On the other hand, NBA Top Shot is a marketplace emphasizing basketball. It is also essential to remember that some markets need the use of the marketplace’s native coin. Rarible, for example, needs Rarible (CRYPTO: RARI).
In most cases, OpenSeais an excellent place to begin. It is the market leader in selling NFTs and gives users the ability to mint their own NFTs. Just in August 2021, the NFT market generated sales of $3.4 billion in NFTs.
After making your choice, you must connect your chosen NFT marketplace to your digital wallet. This will make it possible for you to pay the fees required to mint your NFT and keep any revenues from sales.
5. Upload your file
You are currently at the point where you can finally mint your NFT. Your preferred NFT marketplace needs to include a detailed tutorial on submitting your digital file to their platform in a step-by-step format. Using that procedure, you can transform your digital file (in the form of a PNG, GIF, MP3, or another file type) into an NFT that may be sold.
6. Establish the procedure for making sales
The decision as to how you will make money off your newly minted NFT comes at the very end of minting NFTs. You may be able to, depending on the platform:
An offer is for sale at a predetermined price
You may sell your NFT to the first individual prepared to meet the predetermined price by setting the price at which it will be sold.
You should have a timed auction
A timed auction will provide individuals interested in your NFT with a restriction on the time they have to make their final bid.
Start an unlimited auction
There is no time restriction in an unrestricted auction. On the other hand, you can call a conclusion to the auction anytime you see fit.
The exclusive advice from Treinetic on how to create NFT
If you decide to host an auction, you must choose:
The minimum bid price
The number of royalties you want to continue receiving if your NFT is sold again on the secondary market.
The duration of the auction (if timed).
When determining the minimum price, it is important to consider any applicable fees.
Otherwise, you risk incurring a loss on the sale of your NFTs.
Unfortunately, the costs involved in minting and selling an NFT may be both complicated and expensive. You may be charged with
NFT minting fee
Commission on the sale
Also, a transaction fee for moving money from the buyer’s wallet to yours, depending on the platform and price. Because of the volatile nature of cryptocurrency prices, fees may also be subject to change. As a result, it is essential to do an in-depth analysis of the expenses associated with the production and sale of your NFT to determine whether or not they will be profitable.
So, that’s the end of our guide on how to create NFTs. Make sure you follow all the steps provided to make your efforts result in productive outcomes.
The blockchain is changing the way that we think about art and collectibles, but this is just the beginning. It would seem that NFTs will be around for the foreseeable future. Another topic to consider is whether NFTs will endure the test of time and retain their value. Despite the unique value propositions of each NFT collection, in the end, their worth is determined by how much a buyer is prepared to pay.
Given enough time, the vast majority of the NFTs that have ever been generated will eventually lose their value completely. However, some will only increase in value and popularity. Who knows? Perhaps your next NFT will turn out to be the next Mona Lisa!
Working with a professional like Metafylabs, one of the top NFT creators in the world, is an option if you want to create your own NFTs but lack the required knowledge.
A new wave of interest in non-fungible tokens (NFTs) is taking hold. It may be time for those businesses that have yet to embrace this new technology to get up and smell the coffee. This is because there won’t be just information printed on cards or coins anymore. There will also be tangible items with their own unique identifiers, which may hold various pieces of data, such as who built them and when they were dropped. And with everything out of the way, let’s finally go into this whole NFT business. An NFT is something you’ve probably heard of, but do you know what it is? And how does NFT create value?
What exactly are NFTs?
Before we talk about “how NFT creates value,” let’s talk about what NFT is. A non-fungible token, often known as an NFT, is a digital token that is held as a financial security that cannot be recreated, such as a cryptocurrency token or a token representing a digital asset. In contrast to typical fungible tokens, each NFT is unique, similar to a rare collectible card. On the other hand, fungible tokens can be exchanged with one another and represent individual units of a single asset or service (like loyalty points, for instance).
NFTs are non-fungible because they are unique tokens for digital assets. Moreover, they are distinguishable from one another. Essentially, this implies that each token has its own history of ownership, which is recorded on the blockchain and cannot be changed. Anything, from limited-edition shoes to virtual land in online games to the right to use a blockchain app, might be represented by NFTs.
There is no doubt that NFTs are distinct from all other assets. Moreover, they’re not quite “assets” in the conventional sense, and hence, they instantly create an anomaly. They may produce value and raise their price, but they lack any inherent function or purpose. There’s no way to generate value from an NFT unless it has an audience that wants to engage with it, just as there’s no way to generate value from a cryptocurrency whose usefulness is similarly up for question.
Want to release a 3D NFT collection that is the best in the world? A competent team like Metafylabs that has previous expertise working in the NFT industry will unquestionably be a godsend for you.
How NFT creates value
Now that we know what NFT is, let’s understand how NFT creates value.
1. NFTs’ impact on the value chain
This is a key subject when discussing how NFT creates value. As a result of the NFT speed (NFTs facilitate the efficiency of transactions) and convenience, the transfer of wealth has been revolutionized. No longer will you have to wait for days while your crypto-wealth slowly crosses borders! You just need one transaction to be able to send them anywhere on the whole planet.
The goal of NFT is to cut out the middleman and speed up the transfer of value. People may now transfer assets directly amongst themselves without the need for a middleman like a stock exchange or broker. This emergence of NFTs has already had a positive impact on our society!
2. NFTs’ relevancy to marketers
Marketers greatly benefit from knowing how NFT creates value. The use of NFTs opens up a plethora of possibilities. Unlike cryptocurrencies, which are usually seen as a way to store or exchange value, NFTs will be useful and offer marketers who want to offer unique experiences around high-value objects in their portfolios a chance to do so. They could provide more context for a current product, or they might even be able to replace it!
With NFTs, we may use them not just for their practical value but also to create new experiences centered on high-valued artifacts. It has been said that these technologies constitute the most significant new technology to emerge since the Internet. Nevertheless, we are unquestionably at the beginning of this journey to understand what these currencies and crypto assets worth trillions of dollars signify in the real world.
3. Intellectual property as an NFT
As a direct result of the growing popularity of blockchain technology, there has been a huge surge in the number of innovative use cases and applications. NFTs are one example since they allow the creation of intellectual property and smart contracts on physical assets utilizing permanent data spread throughout the code layer or product description of each individual item.
Blockchain technology will be critical in the future of luxury goods since it will allow companies to track the ownership of their items accurately. This is critical in protecting the intellectual property (IP) rights of enterprises selling these assets throughout the globe since it lets consumers know precisely where each item originated from and whether or not it is real.
4. Value of NFTs in the gaming industry
The gaming industry is highly interested in “how NFT creates value.” Many creators choose to sell their games because of the difficulty of acquiring assets required for developing the game. As a result, NFTs allow consumers to purchase or exchange digital commodities for crypto tokens that have unique features, such as in gaming and fine art auctions, where scarcity is important.
The applications of non-fungible token (NFT) technology extend well beyond the realm of video games. Nowadays, it is being used in a wide variety of industries, such as banking and asset management, as well as billion-dollar trading platforms (via decentralized exchanges).
5. Versatility in NFTs
With NFTs, the possibilities are endless. Non-fungible tokens might be used to tokenize access rights or claims to something more abstract, such as a stake in event tickets (NFT).
NFTs are a revolutionary new approach to representing anything. For example, one sort of non-fungible token may be used to tokenize an individual’s access rights or claim on something more abstract, such as a share in event tickets. What this thing is used for will always have a different shape depending on how it’s utilized, whether it’s digital assets like Bitcoin or tangible collectibles like CryptoKitties, where users can buy OX Finch cards picturing cartoon characters from Netflix, which have been a huge hit with consumers.
Our final thoughts on “how NFT creates value.”
The value of NFTs is increasing as more people use them. There are various ways that NFT developers might generate income for themselves. However, because of the high cost of minting and selling NFTs, not all will be sold or generate any money for their creators.
Because of the high development expenses, you should budget for the possibility of a loss on your NFT project. This is vital. An easy way to avoid losses is to sell an NFT that others would value and to establish a minimum price that is more than the costs associated with the transaction.
Isn’t it cool to buy an online piece of art and then get a digital token that proves you own the work of art? Isn’t it great? Thanks to NFTs, there is now a chance to do that. So, what is NFT?
NFTs(Non Fungible Tokens) are now sweeping over the worlds of digital art and collectibles in a big way. Much like Bitcoin, NFTs are being marketed as the digital currency of the future for collectibles, much like everyone thought Bitcoin was the future of currency. So, digital artists’ lives have changed because of the huge sales to a new group of people interested in crypto. NFTs are attractive to people who want to learn more about them. This is the place for you. “What is NFT?”
What is a Non-Fungible Token (NFT)?
There are cryptographic tokens on the blockchain called NFTs, which stands for non-fungible tokens. They have unique ID codes and other information that makes them different from each other, and NFTs also provide a public proof of ownership. They cannot be traded or exchanged for equivalency, in contrast to other types of cryptocurrencies. This is different from fungible tokens like cryptocurrencies, which are all the same and can be used for commercial transactions because they can be bought and sold at the same time.
What is NTF: The History?
Kevin McCoy and Anil Dash started making his non-fungible token “Quantum” on May 3, 2014. It was a pixelated image of an octagon filled with indicating circles, arcs, and other shapes that all had the same center and were hypnotically pulsing in fluorescent colors at the time. For $7 million, the “Quantum” art piece that was only made in 2014 was sold to someone else. In MacCoy’s opinion, NFT is an integral part of the art world because it combines art with creative technology to get people excited about art.
Need to know more about NFT?
NFTs are non-replicable cryptographic tokens that exist on a blockchain.
In the real world, NFTs can be used to show things like art.
Tokenization makes it easier to transfer the ownership and trade of these real-world tangible assets. Fraud is also less likely as a result of this.
NFTs may represent a variety of other concepts as well, such as a person’s identity, property rights, and so on.
How are NFTs used?
A blockchain is a distributed public ledger that keeps track of changes (transactions) of the assets. NFTs are on the blockchain. You probably know the term “blockchain” as the process that makes cryptocurrencies possible. For the most part, NFTs are built on the Ethereum Blockchain, but they may also be built on other blockchains, such as Bitcoin.
NFTs are created to represent various assets, including::
Videos and sports highlights
Virtual avatars and video game skins
In fact, even tweets are sold using NTFs. Jack Dorsey, Twitter’s co-founder, sold his first tweet for more than $2.9 million as an NFT.
Now that we have addressed the fundamentals of “what is NFT,” we can go further into the deeper aspects of the best NFTs available. To buy NFTs for yourself, you need to know how this type of blockchain works.
Fungible vs. Non-Fungible
Every day, we use fungible dollars and cents to make transactions.
For example, you could say that:
You’ve got a $20 bill, but it doesn’t work with the vending machine because it only takes $1 bills.
Then, you ask someone to change your $20 bill into small amounts.
You get a $10 bill, a five-dollar bill, and five one-dollar bills from the cashier.
However, even though your $20 bill has changed hands, it still has the same value as it did before.
This is because you still have a total of $20 to work with.
In the context of the preceding example, cold-cash cash is a fungible asset type. All of the cryptocurrencies that are out there today are also like that.
NFTs, on the other hand, are non-fungible asset classes, as we have demonstrated before. Because each token is unique, you can’t exchange one NFT for another and expect to get the same value out of it.
People like to do this. For example,
In this example, let’s imagine an artist coming up with a new piece of art.
The artist then chooses to develop an NFT to symbolize the worth of the given artwork.
This implies that the NFT is unique to each artwork and cannot be duplicated or imitated.
Once again, this is because each NFT is authenticated by using a unique transaction hash to determine its authenticity.
There is no limit to what NFTs can represent, and we’ll go into that in more depth later. A virtual painting, house, car, or sports moment can all be yours with NFTs. You can store ownership of these things digitally.
NFTs are used for what?
Our “what is NFT” guide is about to get a lot more interesting. Using blockchain and NFTs, artists, real estate agents, content creators, etc., have a unique way to make money from their work. Many artists don’t need galleries or auction houses to sell their art anymore because they can do it independently. Instead, the artist may sell it straight to the customer as a non-traditional item, allowing them to retain a larger portion of the revenues. It also helps if artists plan for royalty payments. When their art is sold to a new owner, they’ll be paid out part of the money. This is a good thing for artists because they usually don’t get any money back after selling their art.
People can make money with NFTs other than through art. Charmin and Taco Bell have auctioned off NFT paintings based on their brands’ identities to raise funds for charity. Taco Bell’s NFT art sold out in minutes for the highest price of 1.5 wrapped ether (WETH), or $3,723.83, while Charmin named their offering “NFTP” (non-fungible toilet paper).
Nearly $600,000 was paid for Nyan Cat, a 2011 GIF portraying a cat with a pop tart body. In February, it sold for almost $600,000! In addition, NBA Top Shot produced more than $500 million in sales by the end of March. Over $200,000 was paid for just one NFT highlight featuring LeBron James.
As NFTs become more popular, even celebrities like Snoop Dogg and Lindsay Lohan are enjoying the fun. They’re releasing unique memories, artwork, and moments as secure NFTs.
Want to make your own NFT portfolio? Hire a top-notch 3D team like Metafylabs for your project.
How do I buy NFTs, then?
Now that you understand “what is NFT,” you might want to buy them. To start your own NFT collection, you’ll need to buy a few things first. These things are:
A digital wallet that lets you store NFTs and other types of cryptocurrencies is the first thing you’ll need to get. There is a good chance that you’ll need to buy some cryptocurrency, like Ether, based on the currencies your NFT provider wants to accept. You can use a credit card to buy crypto on Coinbase, Kraken, eToro, PayPal, and Robinhood to buy crypto on different platforms. After that, you’ll be able to transfer the funds from the exchange to your preferred digital wallet.
Fees are an essential consideration when evaluating your options. In general, most exchanges charge you at least a small percentage of the amount you buy crypto from them.
Some of the most popular NFT marketplaces are:
The NFT sites are all over once you’ve got your wallet set up and money in it. Today, the largest NFT markets are:
Is it a good idea to get NFTs just because you can? Due to their unclear future and lack of historical precedent, NFTs might be risky investments. On the other hand, people buy NFTs for many reasons. Those who want to own the underlying asset are very interested, while others see value in the asset being tokenized into an NFT. Some people buy NFTs to learn more about blockchain technology.
As a general rule, it’s probably not a good idea to invest in anything just because it uses cryptocurrencies. The basics of investment continue to apply regardless of whether a blockchain shows the ownership of an asset has been established or not. To be a good investor, you should think about what you want to own and then do everything you can to get it. If you are interested in the Blockchain technology, read our article on how can Sri Lanka benefit from Blockchain.
Blockchain! Not only in the tech world, everyone who has a little awareness about the new digital world might hear this word one or more times. Surely, the main reason is Bitcoin, a cryptocurrency, an exceptional application of Blockchain technology. I am not going to clarify what blockchain is, instead I would like to discuss what benefits we, Sri Lanka, especially the Government, can get via the Blockchain & distributed ledger technology. If you are new to blockchain, I would suggest reading some articles on blockchain technology including this: https://www.ibm.com/topics/what-is-blockchain , before diving into this discussion.
The main advantage of blockchain is its immutability of data written into the blocks with a distributed ledger, cryptography & consensus (mutual agreement on something) mechanisms. Unlike conventional software applications where a single server or few servers are owned by a single organization, blockchain imposes a Peer – Peer Network architecture, and everyone in the network must hold the same copy of the ledger. Therefore tampering or deleting data is almost technically impossible in a blockchain network and increases the trust among the participants.
In a database, four main operations are possible: Creating, Retrieving, Updating & Deleting (CRUD) the records but, in a blockchain ledger Updating and Deleting is eliminated purposely by imposing once you write something, it can never be edited or even deleted. Because of this, blockchain-based systems are more transparent, reliable & accurate when compared with non-blockchain systems.
Well, how will these advantages offer benefits for the products, companies, or Government institutions that are using blockchain technology? Predominantly trust or credibility is something well-worth in a software application, especially in a Government sector where in most cases it deals with people’s money. A country like Sri Lanka that needs monetary aid from the World Bank, IMF, etc. can obtain massive benefits if the crucial government-based systems have transparency and reliability. Blockchain-based systems will enhance the ‘Digitalization Process’ in massive steps and reduce the manual workload in Govt. organizations. Eliminating frauds that can be done with conventional software systems would lead to more transparency systems that carry off the trustworthiness of the general public and the international community. But, this needs a genuine intention from the political leaders!
Let’s turn to the international, not too far, our neighbor India. India published “National Strategy on Blockchain” in December 2021. It consists of Scope, Roadmap, National Scenarios, Strategies & Targets for 5 years, National Blockchain Framework, etc. A clear & comprehensive document stated what they are going to do and how they are going to achieve that. Some developed applications and pilot projects have been mentioned there (section 5) related to governance, banking & finance, cybersecurity, etc. It seems that India’s Ministry of Electronics and Information Technology (MeitY) has a definite vision of implementing blockchain solutions to their most critical use cases relevant to the public sector and offering benefits to their people.
Well-known ‘Smart Dubai’ bundled with blockchain technology is another great example of blockchain use cases in governments. As mentioned in the ‘Dubai Blockchain Strategy’ they intend to be the “first blockchain-powered government” that saves 5.5 billion dirhams (nearly 1.5 billion USD) per annum in document processing, the value of one Burj Khalifa’s tower!!!
Suitable for Sri Lanka? But a few questions arise here:
Are Blockchain-based systems suitable for Sri Lanka? Especially for the Government?
Will it be possible to implement blockchain systems in Government institutions?
The massive obstacle is the corruption-based system in Sri Lanka (most developing countries) that demotivate transparency and always tries to hide the information from the general public. The writer read an article published in an investigative newspaper that mentioned a major Government organization’s software application that is developed to allow adding new users by violating the ordering mechanism purposely! Altering & deleting data/records from the database level backs up this kind of malpractices and reduces the trust among the people about the existing systems in the Government institutions (same for the private sector as well). There are massive allegations to the Governments who have led Sri Lanka including the incumbent, for escalating frauds and misconduct to gain their own advantage.
Well-known ‘Computer Jilmart’ (computer-based malpractice) raised by the opposition in 2010 in Sri Lanka is a distinctive example of the attitudes of the citizens in Sri Lanka towards the computer-based systems in Government organizations. Although any ‘Jilmarts’ hadn’t happened (the same group claimed 3 years later) people were believing that some frauds were done with the support of IT systems. Changing this frame of mind from Sri Lankan people is very difficult as long as using the conventional software systems in the Government institutes. On the other hand, introducing tamper-proof & immutable software systems are difficult as long as the fraudulent ruling system is being practiced. But the responsibility & the accountability is goes to the Digital Technology and Enterprise Development Ministry of Sri Lanka, at least get the support of the leadership and start to rearrange the policies and establish a ‘Blockchain Strategy for Sri Lanka’ to build more transparent & decentralized Government.
What should be done?
Before all, need a way to educate the people, especially the Government officers who have very low literacy in the latest ‘Digitalization and Decentralization’. Basic computer literacy or handling an ERP system isn’t enough to perform the duties in the modern world for any ‘non-IT’ officer but, the comprehension of modern digitalization is essential. While establishing a ‘National Blockchain Strategy’ there should be a way to enrich the knowledge of the responsible officers in the Government as they are the key to running the systems.
Educating the next generation is mandatory with the latest evolutions in computer science & IT like Blockchain, AI-Machine Learning, Big Data & Cyber Security. My opinion is the very primitive concepts of these technologies should be introduced to the G.C.E. (O/L) syllabus, better to introduce a non-compulsory subject ‘Modern Digitalization’, and wrapped these concepts with some practical examples. Changes must be made to the ICT subject in G.C.E. (A/L) by adding intermediate knowledge of the said technologies and practice labs.
Main applications should be developed or revamped with blockchain layers:
Land registration system (new/revamp)
Motor vehicle registration system (revamp)
National identity card system (revamp)
Passport issuance system (revamp)
Personal criminal records (if any, or developed a new one aligned with IRC records)
National procurement system (new)
Educational certificate system for G.C.E. (O/L) & (A/L) (new)
Public donation management system (new)
Private sector’s contribution:
There are thousands of software companies in Sri Lanka but, extremely limited of them are concentrating on blockchain-based solutions, products is a pathetic situation. This is even after 11 years of the first practical blockchain application (Bitcoin) and 6 years after the Turing-complete, a not-only-finance platform like Ethereum and Enterprise suited platform like Hyperledger. Our companies must more focus on these kinds of solutions and offer support for the Government sector to achieve the maximum out of blockchain technology! Support may not be the correct word, Influence is the best!!!
In summary, a bunch of profits can be gained with Blockchain technology as a country if we grab it accurately. It seems that people are only focusing on cryptocurrencies, wallets, tokenization, etc., and miss all the other great utilizations. The reason is most of them only know or learn about the crypto and related stuff but didn’t analyze what is beyond them in the Blockchain ecosystem. Learning & practicing in blockchain technology indeed need a sizable knowledge and skills in software product engineering & computer science (for the most part back-end technologies) may be the route cause for this.
It is unavoidable for the rulers and policymakers to take the necessary steps to make policies & strategies with the support of the appropriate intellectuals to develop a solid foundation for adopting Blockchain technology in Sri Lanka. This should be a quick process but, analyzing the long-term risks, personal data protection (public blockchains), aligning with the existing digitalization architecture, etc. should be done with due diligence. As software professionals, we are expecting a significant contribution from authorities and bureaucrats to implement more blockchain applications in the Sri Lankan Government sector and are willing to provide support as it is our ought and duty.
Understanding how to scale a remote team is essential if you’re thinking of setting up your own IT consulting firm. In recent years, the need for company executives to manage remote teams has grown tremendously due to the attractiveness of a remote workforce. The advantages of remote working are many. And they may be reaped by both the business and the remote team members. These benefits include increased employee satisfaction due to the flexibility of working places and a more extensive global reach for the organization.
Why choose remote teams?
When discussing how to scale a remote team, it is essential to consider why they have chosen to work remotely. Consider the following scenario: you want to launch a new IT firm in a few months. It’s been proven that companies can save a lot of money on employee costs with remote teams. And this is because they don’t need to have physical office space. This means that the business usually doesn’t have to spend a lot of money at the start.
In recent years, remote working has become more popular among IT professionals and small and startup organizations. And the global pandemic has significantly contributed to this increased popularity. The settings in which these organizations operate are constantly changing. Therefore, they see the obvious advantages of not making a significant investment in a physical work location.
Remote working has many advantages. But it also poses many obstacles to businesses and the people in charge of management inside the organization. Managing a remote workforce comes with several issues. These may include ensuring that employees are working as efficiently as possible, that they are present when they are needed, and that they are motivated.
What Exactly Does It Mean to Scale a Team?
Scaling a team is simply the process of increasing revenue while keeping team costs at a constant level. If your sales rise by 40%, but you have to add five additional workers to your team, you aren’t scaling it. If you can handle that 40 percent growth with your existing personnel, you have successfully scaled your company’s operations.
How to scale a remote team: step-by-step instructions
UC Berkeley and Stanford researchers found that 70% of the companies they studied sought to scale too early before other basics of their company were in place. They published their findings in the Startup Genome Report. A key conclusion of the analysis was that premature scaling was a contributing factor in 90 percent of failing startups. Therefore, as well as knowing how to scale remote teams, you must know the right time to go for it.
What is the source of this widespread issue? It all boils down to the reality that none of these choices are made in a vacuum. For some startups, the temptation to exploit hiring statistics as a façade of success while under pressure to enhance performance may be tremendous. A startup founder could be under a lot of pressure to show investors that things are going well for the next meeting. On the other hand, a mid-sized (proprietary) software company would have to respond to many requests for a new feature and make it happen before their competitors.
The time it takes to see a return on investment (ROI) varies by position (the position in the management hierarchy of the organization) and might be months long. Among the costs of recruiting are the time spent by existing workers teaching new employees and the cost of hiring itself. It costs the company a lot of money and time to get rid of people who aren’t healthy or who leave early. Don’t focus on a short-term victory to distract from long-term uncertainty. Invest time in defining how your organization’s mission, values, and culture will be implemented on a new team.
Below are the crucial elements of how to scale remote teams:
Continue to be adaptable (stay agile)
When referring to a group, the word “agile” describes their capacity to adapt. The self-organization of all team members is the first step in scaling your remote team. The completion of any product or project relies on various people, including developers, designers, QA officers, and so on. Teams that work in an agile manner are cross-functional and have a shared sense of responsibility for the outcome.
Scaling your business the old-fashioned way will result in organizational silos and sluggishness. On the other hand, firms that use an agile approach find it much simpler to adapt to scalability problems. When business experts first used agile methods, they thought they could only be useful for small-scale projects. Perceptions, on the other hand, have shifted dramatically.
An agile team is defined as a team that executes an agile project (a project that follows iterative development which results in continuous and incremental improvement.) For example, by establishing the significance of features, the team may understand the most critical aspects of a project that might provide value. When a team of software developers uses an agile methodology, they may meet a project’s deadlines and costs progressively, allowing it to be launched sooner and begin earning revenue sooner.
Diverse firm personnel may come together to provide the first scope of work, i.e., the MVP (Minimum Viable Product), much more quickly than anticipated if they work cooperatively on the project.
Create a highly effective, distributed development team
When wondering “how to scale a remote team,” this is one of the most crucial things to keep in mind as you plan. Your firm will never be able to expand effectively if you recruit the wrong individuals for the job. For agile teams to work, team members must work together to accomplish tasks. The task of identifying the most qualified candidates in this industry is challenging. But one must also keep in mind that there’s intense rivalry among firms. Therefore, it has become challenging to provide above-average pay and perks to their employees.
A distributed team provides the ability to enrich your current resources with specialists and generalists. It also gives you access to a larger global talent pool with more favorable wage expectations. And this improves your return on investment and increases your productivity.
The problem is that leading a remote team may be very difficult to manage. In your capacity as a company, you will be responsible for supplying your remote workers with the required infrastructure and technology. While some organizations choose to hire in-house staff or freelancers, the majority prefer to use an alternative method known as outsourcing.
Using an outsourced development team is a good idea
It takes a lot of time, money, and dedication to hire a new employee. If you hire someone, you have to provide them with perks like health insurance and an annual bonus, among other things. The same situation applies if you employ a freelancer. You should not expect them to devote their complete attention to your project alone. And this is because they may be working on many other projects at the same time as your project. Outsourcing is an excellent middle ground since it allows you to save time and money while still receiving total devotion. The option of outsourcing tasks that are excessively time-consuming and create undue pressure on your present employees is available to you as well.
Moreover, outsourcing is a great way to build a distributed team because you don’t have the skills in-house or you have too many projects. There are several advantages to outsourcing, including the fact that there are no set costs; you will only be charged for the services you get for a particular project. In addition, outsourcing lets you quickly grow and slim down your development team with varying needs. You don’t have to worry about letting people go when the project is done or hiring quickly when the project is growing.
Choose the Most Appropriate Processes and Technology
This is another prime element to consider when discussing the topic of “how to scale remote teams.” Open communication is key to managing a remote group of people. And if you employ an agile strategy, it is critical to maintain open communication and utilize the right technologies in development. And these may include video conferencing, project management, etc. It’s essential that you automate all the automatable jobs. An automated task management systemwill allow the teams to focus on high-impact work instead of tedious duties.
If outsourced, you should ensure that your outsourcing contractor provides all of the tools and resources necessary for the various developers to perform their duties. Ensure that your in-house staff are in sync with your outsourced staff and have access to all the resources they need to execute their jobs.
It becomes more challenging to determine which technology is the best choice and when to invest in it as time passes. Leasing technology gear and tools is an excellent alternative to buying them, as it avoids the entire cost of the item. If you choose this route, you won’t have to stress about finding the money to buy the tools you need to get started right away. You only have to pay a monthly fee for each user and per device.
It’s essential to connect your scaling strategy with your current company demands while also planning for future expansion for scaling your remote team. If your business adapts quickly, it will be easier for your development team to keep up with changes.
Analyze and make modifications as necessary
To be successful in any undertaking, you must be open to the possibility of change. For a company to be successful, it must constantly monitor changes in the market and adapt its strategy accordingly. Develop and promote best practices for your whole team, no matter how geographically scattered they may be. To become more adaptive, your company will need to take a proactive approach to monitor the changes.
Taking a proactive approach also helps identify relationships amongst teams, as well as the identification and mitigation of possible hazards. In the case of environments that have utilized Scrum, adapting Scrum ceremonies to the demands of each team is essential. You must also pick the most appropriate strategy for the team’s size. Retrospectives provide an excellent chance to evaluate your company’s return on investment, efficacy, and productivity.
Treinetic’s final words on how to scale a remote team
Scaling a remote development team may be difficult. But the advice provided above on how to do it will help managers and team leaders build a solid foundation for future growth and expansion.
When implementing agile techniques and putting technology and procedures into place, it is critical to identify cooperation among individuals and the dependencies between them. Assemble the right team, whether inside the company or externally contracted. Only then can you ensure that best practices and solid relationships are in place to provide a mutual understanding of the desired outcome.
Every business owner would benefit from understanding the Web 3.0 impact on businesses in today’s world. And that’s because Web 3.0 is ready to revolutionize how companies operate and how internet users interact with the digital world. In this article, we’ll take a closer look at Web 3.0 Blockchain, including what it is, what it contains, and what benefits it has to offer to your business and customers as a whole.
Worldviews have evolved as a result of blockchain developments. Web 3.0 Blockchain is the real revolution that has started to unfold in the nooks and crannies of the Internet after establishing itself as a key blockchain platform trend in its own right.
What Exactly Is Web 3.0?
Before understanding the Web 3.0 impact on businesses, let’s understand Web 3.0 a bit better. It is, after all, the next internet revolution that would provide a decentralized environment based on blockchain, with an emphasis on intelligent information accessibility. For example, in the Web 3.0 age, search engines would deliver customized insights depending on the context of your search. The information stored on many computing devices will eventually displace the centralized data repositories stored on centralized servers. As a whole, it will function more like a decentralized peer-to-peer network with no central authority.
Consider the following scenario: “Web 1.0” was the term used to describe the early days of the Internet in the 1990s. Although the Web was seen to democratize access to information, there were few effective methods to navigate it beyond visiting a page and reading or watching through static content compiled by one or more content creators. It was unorganized and overwhelming in a lot of ways.
Later, in the mid-2000s, the Web 2.0 revolution began. It advocated many organizations to build centralized services. However, it extended the capabilities of the internet beyond information browsing. There were platforms like Google, Amazon, Facebook, and Twitter that came into existence to make the Internet more organized. These platforms made it easy for people to connect and conduct transactions online. However, critics contend that these corporations have gained excessive influence over time.
Web3 is about reclaiming some of the power that has been taken away from us. Following explains what happens in a Web3 world. People control their own data, so they can use social media, email, and shop all from the same personalized account. This creates a public record on the Blockchain, which can be portrayed as a digital ledger.
Web 3.0 Impact for Business: Components of Web 3.0
Many technologies will need to work together and rise to the top of the heap to accomplish all that is expected from Web 3.0 Blockchain. And this implies that just integrating blockchain technology will not be enough. Some of the developing technologies of our time will be the primary components of Web 3.0 since they will be required to make the Web decentralized and semantic. And some will be superseded by different ones with Web 3.0. However, blockchain and cryptocurrency will always be fundamental for Web 3.0.
In the near future, the digital Web’s user interface will combine with the real world thanks to advances in augmented and virtual reality as well as high-fidelity 3D graphics. The gaps between the digital and physical worlds will be filled. And we’ll be able to bring physical things into the digital world and digital things into the physical world (virtual reality and augmented reality.)
Internet of Things (IoT) devices will be compatible with and utilizing ever-more-advanced networks, such as 5G. Therefore, the Web will be everywhere through internet-connected computer interfaces on physical things. The Internet will connect everything from phones, cars, drones, and fridges to ovens.
Computers will be able to evaluate and learn on the go thanks to artificial intelligence technologies, allowing for more customized, tailored and user-centric interactions. Users will have a better experience when AI-powered chatbots and machine learning algorithms work together. They will be able to use structured and unstructured data to make the user experience relevant and semantic.
Web 3.0 Impact on Your Business
So, how will businesses make use of web 3.0 technology? Traditional and new businesses will welcome Blockchain technology and the possibilities it brings with it. Businesses of all sizes and types will use blockchain. You will see that your applications are receiving a blockchain update, in which everything will be made public and accessible to everyone. And there are private blockchain networks too. Those are networks that allow only a selected group of participants into the blockchain network.
Your customers regain control of their data
This is perhaps the most important way web 3.0 impacts businesses. Web 3.0 promises a major change in how the Internet works, focusing on user privacy. This is indeed a problem that has been discussed for a long time but hasn’t been effectively solved.
Web 3.0 uses blockchain technology, unlike Web 2.0, which leverages the Internet to develop applications. It is technically safer to store client data on a blockchain since it is decentralized and its usage by businesses is transparent, therefore safeguarding it from hackers. Some experts say the transfer of data ownership back to consumers could disrupt the technology sector. And this is because many tech companies would lose access to the data that has provided them with a competitive edge.
Easy logins and high security
Because of blockchain technology, visitors to your website will have a more pleasant login experience. Consider how many times you’ve logged into websites using your Facebook profile as a login. Blockchain technology employs the same principle as Facebook, which already owns your user information. Using Blockchain, however, you are the only owner of your information. For business reasons, your clients will still have the ability to sign in with ease on your website. And you will no longer have to worry about safeguarding clients’ data for them since it is already more secure.
We believe that Web 3.0’s enhanced security measures based on blockchain technology may reduce the risk of hacker attacks. According to IBM, Blockchain is unlikely to be hacked since documents are encrypted from beginning to finish. Making data anonymous and requiring authorization to see it adds another degree of protection to your website, preventing hackers from attacking it. Apple, Google, and Facebook are just a few firms that are currently using blockchain technology for security.
Other Benefits of Web 3.0 for Businesses and Customers
When reviewing the Web 3.0 impact for businesses, the following benefits are the cherry on the icing.
1. Data Ownership and Control
Until recently, IT giants managed and used the data generated by users. End-users will have total data ownership due to Web 3.0, which Blockchain drives. Every piece of information carried across the network will be completely encrypted. As time goes on, users will be able to decide what information they want to share with corporations or advertising firms and how much money they want to make from it.
Users would be able to access data across many apps using Web 3.0 technologies rather than being restricted to a single platform. This eliminates the need to be concerned about one device(on a certain platform) being able to access Web 3.0 services while others are unable to.
3. Permissionless Blockchain
Under Web 3.0 technology, it will not be necessary to have a central authority for a blockchain. Create an address, and you’ll be able to engage in the network. Anyone may join and participate in the network. This would remove the possibility of people being denied access based on their gender, income, sexual orientation, geographic location, etc. This technology will also make available the ability to move digital assets and wealth across borders in a timely and cost-effective way.
4. Pro-Privacy and Anti-Monopoly
Features of Web 3.0 will encourage the use of pro-privacy and anti-monopoly approaches in business. Due to this policy, centralized platforms that retain control over their users’ data will not be rewarded. Decentralization and privacy will take center stage in the future, and we should expect a dramatic shift. Because consumers now have a choice over how their data is shown, the monopoly of tech companies will be broken. And there will be fewer to no instances of data privacy intrusions.
As an award-winning software engineering company, we strive to remain knowledgeable of the latest technological developments. And we believe that Web 3.0 will have a significant impact on how we interact with the digital world. And this transformation will affect everyone, not just consumers. The Web 3.0 impact on businesses will be both traditional and disruptive. It will also be equally massive.
However, the evolution from Web 2.0 to Web 3.0 will take time. Businesses will have the time to review their processes and determine where they fall on the decentralization and transparency spectrum.
You can use this AWS VS Azure comparison to determine which public cloud service is best for your requirements.
If you’re just getting started with cloud computing, you’ll want to choose a cloud platform that makes it easy for you to get up and running. It is critical for anybody interested in pursuing a career in cloud computing to get familiar with the many prominent cloud service providers before determining which cloud is the best fit for their interests as well as for the demands of the organizations. In today’s age of big data and data science, cloud computing platforms are the best choice many would resort to.
In addition to the learning community, several enterprises are interested in comparing AWS VS Azure before deciding whether or not to migrate to a cloud-based infrastructure. However, the fact is that this is not a choice based on technical considerations. For most use cases, both AWS and Azure perform equally well. The choice between Azure and AWS is more of a business one. And it is based on the organization’s needs and standards.
The Global Market Share of Cloud Service Providers
Before we get into the specifics of the comparison between AWS VS Azure, it’s necessary to highlight the market share. These statistics clearly show the big picture of AWS VS Azure’s competitiveness in the cloud provider market.
According to Statista, AWS was the most popular provider in the cloud infrastructure services industry in the third quarter of 2021, controlling 32% of the total market in that quarter. Microsoft Azure is in second place with a market share of 21%. And Google Cloud remains in third place with a market share of 8%. In the third quarter of 2021, these three leading cloud vendors accounted for 61% of overall spending.
These vendors provide virtual machines, machine learning, cloud-native development, data analytics, application migration, and a variety of other services via their cloud service offerings.
AWS VS Azure Differences Explained
What exactly is AWS?
As a cloud service platform, Amazon Web Services (AWS) offers various services in several domains. And these include computing, storage, delivery, and other functionality, all of which assist organizations in scaling and growing. Using these services, we can create and deploy various apps on the cloud platform.
To produce a scalable and efficient outcome, AWS services are intended to work in conjunction with one another. There are three types of AWS services: Infrastructure as a Service (IaaS), Software as a Service (SaaS), and Platform as a Service (PaaS). After being introduced in 2006, AWS has risen to become one of the best cloud platforms available today among the several cloud platforms currently in existence. Cloud platforms provide many benefits, including fewer administrative overhead, lower costs, and more.
What exactly is Azure?
After launching in 2010, Microsoft Azure quickly rose to become one of the world’s largest commercial cloud service providers. Analytics, computing, networking, database, storage, DevOps, mobile, and web applications are just a few of the integrated cloud services and functions available. They easily connect with your environment to maximize efficiency and scalability.
Azure services are generally categorized as Platform as a Service (PaaS), Software as a Service (SaaS), and Infrastructure as a Service (IaaS). Developers and other employees can use services to build, deploy, and manage services and applications in the cloud.
Let’s get to the AWS VS Azure comparison now:
AWS VS Azure Compute Comparison
The compute parameter is the first halt in this AWS VS Azure post.
A computer’s primary function is to calculate, process, and compute. The right cloud service provider can assist you in scaling to thousands of processing nodes in a matter of minutes. There are two options for organizations in need of speedier data processing or graphics rendering: buying additional hardware or moving to the cloud. This is the ultimate purpose of public cloud computing services.
When it comes to computing, AWS’ fundamental solution is its EC2 instances, which offer scalable computing on demand and can be configured to suit specific requirements. Moreover, it offers additional related services, such as AWS Lambda, Autoscaling, Amazon EC2 Container Service, Elastic Beanstalk for app deployment, etc.
Azure, too, offers services comparable to those described above, including Azure Virtual Machine, App Service, Azure Functions, Container Service, and so on. This indicates that the competition between these providers is close.
In terms of computing power, AWS dominated in the past era, but Azure really did catch up, becoming a viable contender approaching the market later on.
Storage Comparison: AWS VS Azure
Storage is the next factor that we compare between AWS VS Azure.
The capacity to store data is one of the most important features cloud service providers offer. Running cloud-based services necessitates storing data processed at some point in the process. Although AWS’s storage services have been in operation for the longest time, Azure’s storage capabilities are incredibly reliable. These are two of the most powerful cloud storage services available today.. The storage method used by Azure is referred to as “blob storage.” On the other hand, the one used by AWS is referred to as Simple Storage Service (S3).
Customers who use Amazon’s cloud object storage service get high availability and automatic replication across different regions. Temporary storage in AWS is allocated when an instance is launched and released when the instance is terminated. As well as this, it offers block storage that is comparable to hard drives and can be attached to any EC2 instance or maintained as a standalone storage device.
For virtual machine-based volumes, Azure uses temporary storage and page blobs. Azure’s block storage option is comparable to Amazon Web Services’ S3 service. Storage in Azure is divided into hot storage and cool storage. Cool storage is less expensive than hot storage, but it comes with higher reading and writing costs. They can be utilized based on the frequency of accessing the data stored.
AWS VS Azure – Pricing Comparison
Cost is a major factor in this comprehensive comparison between AWS VS Azure.
Prices have been on a lower trend for quite some time due to increased competition among cloud service providers in recent years. AWS and Azure provide free introductory tiers with restricted use limits. And this allows consumers to experiment with their services before committing to a paid subscription. In addition, both companies provide credits to entice start-ups to use their cloud platforms as a marketing tool.
AWS and Azure offer pay-per-use pricing plans based on the number of hours you use the service. AWS may assist you in saving more money as your usage increases; the resources for a low cost. In order to elaborate on the AWS pricing scheme further, let us consider AWS instance types and their pricing plans.:
Reserved Instances: One may reserve an instance for a period of one to three years by paying a one-time fee depending on the period of use.
On-Demand instances: You just pay for what you use, with no need to commit to a large up-front investment.
Spot Instances: Place a bit for resources which will allow a reduced price based on availability, which would serve applications with decent flexibility when extensive computing power is needed at certain times.
Microsoft Azure allows its consumers to make short-term commitments by enabling them to select between prepaid and monthly charges for their services. Azure is a bit less flexible than AWS when it comes to pricing models, but it is still competitive.
‘Amazon AWS VS Microsoft Azure – Databases
All software applications nowadays need the use of a database to store information. SQL database services are available from both Azure and AWS, regardless of whether you want a relational database or a NoSQL solution. Both Amazon’s RDS (Relational Database Service) and Microsoft’s SQL Server databases are highly available and durable, and they both provide automatic replication.
AWS is well-suited for both NoSQL and relational databases. And it offers a sophisticated cloud environment for large data processing. AWS’s primary analytics product, EMR (a managed Hadoop, Spark, and Presto solution), assists with the setup of an EC2 cluster and allows integration with various other AWS services. Both relational and non-relational databases are supported by Azure HDInsight and Azure Tables for large data storage and querying. Through its Cortana Intelligence Suite, Azure delivers analytical solutions that come with Hadoop and Spark, as well as Storm and HBase.
Azure’s SQL database service is primarily based on Microsoft SQL Server. But it also supports a few others, such as Cosmos DB, Redis, and Apache Cassandra. When it comes to doing different database operations, Azure’s interface and tools simplify them. However, AWS offers many instance types that you can supply and gives you more control over DB instances.
AWS VS Azure – Networking
Different networks and partners link the data centers across the world via various products offered by cloud service providers. Using AWS’s virtual private cloud (VPC) service, customers can construct their own private networks in the cloud. Within a VPC, a user can create route tables, subnets, private IP address ranges, and network gateways.
In a similar vein, Azure provides the ability to establish isolated networks via the use of Virtual Networks (VNETs). Both AWS and Azure provide customers with firewall choices to provide security to the described networks.
AWS VS Azure Machine Learning Comparison
AWS provides SageMaker, and Azure has a machine learning studio. And these facilitate the development of machine learning models more quickly and simply. But how do they vary from one another? To build, train, and deploy a machine learning model more quickly, AWS and Azure offer managed services covering the end-to-end machine learning pipeline. Despite this, how these companies deliver machine learning as a service is very different.
Amazon Sagemaker builds the model depending on the code written. Azure features a simple drag-and-drop user interface where the model building process can be architected on canvas. In contrast to Amazon SageMaker, Azure’s Studio does not require users to get fully familiar with Python coding, data engineering difficulties, and other open-source tools.
Azure Studio is sentenced to be deprecated by 2024. It has not been productive in building accurate models for many problems, and there have been some other issues too. In this regard, Amazon SageMaker has been successful. Azure will move to Azure Machine Learning (instead of Machine Learning Studio). It will feature a much more similar identity to SageMaker, where you’ll have to be familiar with programming to build models.
AWS VS Azure – Container and Orchestration Support
The fact that AWS offers more mature big data and analytics services than any other cloud provider has already been proven. Based on customer requirements, it offers a wide range of services in sectors such as the Internet of Things (IoT), mobile app development, and the creation of a computing environment. They also provide support for the Docker container-based operating system.
With services like Azure HDInsight, Microsoft competes on an equal footing and may perhaps go a step further by providing Hadoop support. Both Windows and Hyper-V containers running on Windows Server 2016 may be integrated with Docker. The platform also runs Linux or Windows containers.
AWS VS Azure Compliance Comparison
Amazon has a strong partnership with government agencies to provide better government cloud services. They also have excellent security mechanisms in place, ensuring that only authorized users have access to the cloud. When dealing with sensitive data, this is a critical factor to consider.
Microsoft has more than 50 compliant products. Some of the most well-known include International Traffic in Arms Regulations (ITAR), Health Insurance Portability and Accountability Act (HIPAA), etc. AWS and Azure are neck and neck in the competition when it comes to security.
Who Will Be the Leader in the Future, AWS or Azure?
In the cloud platform market, both AWS and Azure have the chance to carve out their own space. They both serve some unique needs that don’t overlap very much, so they could make their own space.
Because of its early introduction, AWS was the sole option for businesses looking for cloud computing solutions. While its early introduction provides it with a competitive advantage, it initially lacked enterprise features and has only lately begun to include them in its offering.
However, Microsoft Azure is capable of providing seamless service to large corporations. The ability to provide customers with the required assistance for quickly scaling up and scaling down QA/test environments is enabled by the ability to deliver economic benefits.
Treinetic’s Final Thoughts on AWS VS Azure Winner
The purpose of this article was to offer some insight into the AWS VS Azure debate. But in this AWS VS Azure cloud service provider battle, there is no clear victor. A multi-cloud approach is possible because organizations may pick and choose the best features from each cloud service provider. A multi-data center hosting solution is recommended for businesses that need high availability and resilience.
It is incredibly difficult to compare Azure with AWS. And that’s because both companies are always introducing new pricing structures, new products, and new integrations. When deciding between the two platforms, the organization’s requirements must be considered, as well as how well the AWS VS Azure comparison meets them. What matters the most is that one does comprehensive research to assess what is really needed and what the service provider has to provide, regardless of whatever comparisons are made.
In this blog post, we’ll go through the two primary techniques for app development: native VS cross-platform development. Why? Because, as a result of technological advancements, our lives have grown more reliant on digital assets. We make the most important choices in our lives and organizations via the use of the Internet and mobile applications. Businesses have a hard time competing in the digital world because there are so many apps on the Play Store and App Store and they have limited exposure, skills, resources, and funds.
It is predicted that the yearly number of app downloads globally will reach 299 billion by 2023, an increase from the expected 247 billion global app downloads in 2020. In addition, by 2023, paid downloads and in-app advertising are expected to produce over $935 billion in income for mobile applications.
Because of the competitive environment, business owners are under constant pressure to place more emphasis on the quality, precision, functionality, and other factors that encourage prospective consumers to choose their services over alternatives. And it is at this time that we must decide between native VS cross-platform development methods. Businesses often face many difficulties, including deciding on the best technology to depend on, whether to use iOS or Android, and which app development framework would be the most effective in increasing client interaction.
What to Consider When Choosing a Methodology for Developing a Mobile Application
When deciding between native VS cross-platform development, we must first understand the factors to consider when selecting a mobile application development approach:
The complexity of the application
Cross-platform development is an excellent option if all your app does is utilize network-fetched data. In contrast, if your application needs extensive processing or access to low-level APIs, you might choose native development because cross-platform tools may not be able to access them.
Native development delivers high-performance applications, yet it is time-consuming and expensive to develop. If you are working with a small budget, cross-platform development is the best option to consider. Because just a single codebase is created for an app that runs on both Android and iOS, you’ll save between 30 and 40% on development costs.
Time Required for Development
Getting an MVP app up and running as soon as possible is important in some projects. This is the point at which you should think about cross-platform development. You do not need to work on two different versions of the app. Creating an app for both Android and iOS requires just a single development cycle.
Native development is the way to go if you want stunning visuals and an engaging experience. When developing in a native environment, developers have access to the UI/UX components. Selecting cross-platform development may strictly limit the UI/UX elements of the program.
Native vs. Cross-Platform: What Is Native App Development?
Building a mobile app just for a single platform is referred to as “native app development.” In this case, programming languages and tools unique to a particular platform are used to create the app. For example, you can develop a native Android application using Java or Kotlin while developing iOS applications using Swift and Objective-C.
When comparing native VS cross-platform applications, native apps are renowned for providing a superior user experience because they are typically high-performing. Because the visuals are matched to the platform’s user experience, the overall user experience is seamless. On the other hand, startups are worried about the high cost of native app development. And that’s because they must simultaneously build for two platforms.
The Pros of Native Application Development
Native apps are scalable because of the resource management flexibility and the range of tools available.
High-performance and excellent user experience
The direct communication between the code and the underlying resources results in an excellent performance. Additionally, native applications often offer a superior user experience (UX) that is synonymous with the platform.
If you’re working on a platform, you’ll have access to every API and tool that it has to offer. According to the current state of technology, there are no restrictions on how programmers develop the new app.
Improved Support in Store
Generally speaking, native apps are simpler to publish, and they are often placed higher in the platform’s app store since they provide superior performance and speed.
The Cons of Native App Development
When you need to publish your app on both iOS and Android, developing native applications might be outrageously costly. Because of this, you’ll need to deploy two teams that will work on separate platforms.
Because the work done on one platform cannot be repeated on another, native app development is time-consuming. Rather, a different team will be required to work on the other version.
What Is Cross-Platform App Development and How Does It Work?
Because we have already reviewed native app development in today’s subject of native VS cross-platform, let’s take a closer look at cross-platform development now.
Cross-platform development refers to developing an application that is compatible with several platforms. This is accomplished via the use of technologies such as React Native, Xamarin, and Flutter, which allow the applications built to be published on both Android and iOS devices.
While cross-platform development saves time and money, there is a danger that quality may be compromised in the process. The implementation of an app that operates ideally on several platforms is complex, as the app will need an extra abstraction layer when running. This can result in decreased performance.
Cross-platform programming is more attractive to startups since it saves time and money. Nonetheless, it would help if you were mindful of the fact that it may be more difficult to correct the app beyond what is permitted by the framework.
The Pros of Cross-Platform Application Development
An application that runs on several platforms will need just one development team rather than two, as in the case of a native app. As a result, you will save money on the development costs.
When developing an application that operates on various platforms, just a single development cycle is necessary.
Single Code Base
There is just one code base for the app since it was developed using a single cross-platform development tool.
The Cons of Cross-Platform Application Development
An app that runs more slowly
Because of the need for an extra abstraction layer and rendering process, the cross-platform application is much slower than its native equivalent.
Developers may probably have problems accessing smartphone features such as the microphone, camera, and geolocation in the same manner that a native app would.
Cross-platform applications are unable to make use of native user interface components. As a result, it cannot provide the same user interface experience that is familiar with the platform.
Native VS Cross-Platform: Which One to Choose?
Choose wisely, since your choice will influence how much it will cost, how long it will take to develop, and how consumers react to the application. Before making a decision, consider all of the factors listed above. If you’re still not sure which to choose between native and cross-platform, here are some additional tips:
When Should You Think About Developing a Native App?
It is more likely that your target audience will be using your app for the first time, and you want to make a good first impression by providing them with the best possible app experience.
It is necessary to code specifically for a single platform.
You are one of the businesses interested in 3D games and animations.
You want to gain many daily active users (DAUs), pursue venture capital investors for product financing, and design an app that is simple to understand yet intuitive to use.
It is necessary to include device-specific features like GPS, a camera, etc.
When Should You Consider Developing a Cross-Platform Application?
You have a tight budget, limited time, and limited resources, and you must develop a mobile application on many platforms.
It would help target both iOS and Android app users in your marketing efforts.
You need a more rapid app development process.
The app isn’t complicated, and it doesn’t need any features that differ significantly across platforms.
So, you can choose between native and cross-platform based on the scenarios explained above.
Our final thoughts
As an award-winning software engineering company, we know that there are advantages and disadvantages to both native and cross-platform app development. To choose an app development platform between native VS cross-platform, it is necessary to determine the exact business criteria that must be met. Before selecting an app development platform, IT business managers must determine exactly what they want. This is why you need to think about both the short and long term when making your decision.
Treientic expects these top technology trends to be game-changers for digital business and innovation in 2022. All the information you need about these technologies and why they’re important is available in this post. At Treinetic, we forecast top technology trends that are essential to the success of businesses every year. The nine top technology trends included in this year’s list will help CEOs provide growth, digitalization, and efficiency. And they will also position CIOs and IT executives as strategic partners inside their organizations.
Our second target audience is job seekers. What does this have to do with job seekers? This entails keeping up with evolving technologies and the latest technology trends. Also, to get a safe and worthwhile job in the future, you must keep an eye on the promising technologies of the future and master the skills you’ll need to do so. The whole planet has bowed to the COVID-19 pandemic. Most of the world’s information technology workforce is sitting back and working from home. We present these top technology trends to watch for in the next year for those who want to make the most of their time at home. Let’s look at:
Artificial Intelligence and Machine Learning
Virtual Reality and Augmented Reality
Robotic Process Automation (RPA)
The Internet of Things (IoT)
The Top 9 Technology Trends for 2022
1. Top Technology Trends: Artificial Intelligence (AI) and Machine Learning
With the resurgence of machine learning in the late 1990s, especially with the colossal improvements in GPUs and the advent of tensor processing units (TPUs), artificial intelligence became widespread interest in the community. Although many subdomains are still under ongoing and extensive research, artificial intelligence continues to be one of the top technology trends because of its significant effects on how we live, work, etc. AI is already well-known for its supremacy in various applications, including ride-sharing apps, image and voice recognition, navigation apps, smartphone personal assistants, and a slew of other applications.
Other ground-breaking AI technologies include:
LaMDA by Google: A Generative Conversation Model where conversation dialogues are generated based on a user’s interactions, ideally never following the same conversation twice.
Duplex by Google: A technology for conducting natural language conversations, even with the nuances that would make the other person engaging in conversation completely perplexed about whether or not they are talking with an AI model.
Deep Learning has impacted the biomedical industry so much that it has even helped identify potential drugs for COVID-19. In fact, there was a contest on a popular hackathon platform at the very early stages of the pandemic. Some models were developed to generate candidate structures for organic molecules for drugs. Furthermore, properly trained models are being used to detect benign and malignant tumors in X-rays and other forms of medical imaging. These have assisted doctors primarily in identifying tumors that they would be missed if done manually.
The technology will also assist in estimating demand for services like hospitals, allowing authorities to allocate resources better. Additionally, AI will assist in detecting client behavior trends by analyzing data in near real-time. And this results in increased revenues and improved tailored experiences.
The AI market
Global investment in cognitive and AI systems will reach over $57 billion by 2022, making the AI business a $190 billion industry by 2025. Due to the expansion of AI throughout several industries, new employment will be generated in various fields such as programming, software development, data engineers, machine learning engineer, data scientist, AI engineer and so on. On the other hand, AI pays some of the highest incomes available today. For example, with rates ranging from more than $1,25,000 per year for machine learning engineers to over $145,000 per year for AI architects. And this makes it one of the top technology trends to keep an eye on.
Machine learning, a subset of artificial intelligence, is also being used in many industries, generating a significant need for individuals highly skilled at training and optimizing machine learning models and their parameters, deciding which machine learning algorithms to apply for different problems. According to Forrester, artificial intelligence, machine learning, and automation will generate 9 percent of new employment in the United States by 2025. And these new job positions may include machine learning engineers, data scientists, content curators, robot monitoring experts, automation specialists, etc. Without a doubt, these factors make machine learning one of the top technological trends you should be aware of.
Mastering artificial intelligence and machine learning can help you get jobs in fields such as:
The AI Research Scientist
Machine Learning Engineer
2. Quantum Computing
Quantum computing, a type of computing that uses quantum phenomena such as superposition and quantum entanglement, is the next notable technological development. Because of its capacity to query, monitor, analyze, and act on data from various sources, making predictions and simulating different scenarios based on the spread of the coronavirus was far more accurate, and the same worked out with the vaccine development. Banking and finance are two more fields where quantum computing is finding applications. It can be used to control credit risk and identify fraud in high-frequency trading and other high-risk activities.
What makes this one of the top technology trends in 2022? Quantum computers currently outperform conventional ones in terms of speed and the number of possible calculations. And several well-known companies, like AWS, Google, Splunk, Honeywell, Microsoft, and others, are actively engaged in developing new technologies in this sector. By 2029, it is expected that the worldwide quantum computing industry will have reached $2.5 billion. And, to create a name for yourself in this emerging field of technology, you’ll need to be familiar with linear algebra, probability, higher order calculus, quantum mechanics, special theory of relativity (to a certain extent), information theory, etc.
3. Virtual Reality and Augmented Reality
Virtual Reality (VR), Augmented Reality (AR), and Extended Reality (ER) are the next top technology trends in 2022 and coming years. This technology immerses the user in an environment, while augmented reality enriches the user’s environment with virtual entities. And this has mostly been used for gaming so far. But now, it’s becoming popular in training, as in the case of VirtualShip, a simulation software used to train captains of U.S. Navy, Army, and Coast Guard ships. And this is even becoming popular in virtual meetings and reaching many casual interactions as well, such as Metaverse by Meta.
According to predictions, this type of technology will continue to be incorporated into our lives by 2022. AR and VR are often used in conjunction with some of the other emerging technologies we’ve discussed in this list. And they have excellent potential in various applications, including industrial training, entertainment, education, marketing, and even injury rehabilitation. It is possible to utilize it either to train surgeons to do surgery, provide museum visitors with a more in-depth experience, enrich theme parks, or even increase marketing.
In 2019, 14 million augmented reality and virtual reality gadgets were sold. The worldwide augmented reality and virtual reality industries could reach $209.2 billion by 2022. And this will result in additional opportunities in rapidly evolving technology and the recruitment of more people who are ready to work in this game-changing sector.
Developing VR environments is, in fact, another level of graphics programming and requires a higher degree of expertise in projections, visualizations, and even in linear algebra as well. However, a programmer who might not be an expert on the aforementioned aspects, would be able to easily utilize already developed environments and applications. So, this is one of the top technology trends to pay attention to in 2022.
Without a doubt, this is one of the top technology trends on the rise. Even though most people associate blockchain technology with cryptocurrencies like Bitcoin, it provides security in various contexts. When it comes down to its most basic definition, blockchain data is characterized as data that can only be added to, not removed from, or changed. You are creating a data chain, so the word “chain” is used. The fact that it is impossible to modify the previous blocks makes it so safe. Furthermore, since blockchains are consensus-driven, no one body can exercise control over the data. To manage and verify transactions on the blockchain, you do not need a third party.
Several sectors are participating in the implementation of blockchain technology. Moreover, as the usage of blockchain technology grows, so does the need for trained individuals. A blockchain developer specializes in the development and implementation of blockchain-based architecture and solutions from a high level of perspective.
There has never been a better opportunity to get started if you’re interested in the blockchain and all of its potential uses and want to build a career around it. Programming languages, data structures, algorithms, web app development, and networking are necessary skills to enter the blockchain industry. Those who lack these skills will have a hard time getting in. So, are you ready to adopt this as one of the top technology trends in 2022?
5. Top Technology Trends 2022: Robotic Process Automation (RPA)
Robotic Process Automation, or RPA, is another technology automating occupations, similar to other popular technological developments such as artificial intelligence. Applications, transaction processing, data management, and even email replying are automated using RPA software. Thanks to RPA, you can automate tedious and time-consuming operations formerly performed by humans as users of computers.
Forrester Research’s projection warns that RPA automation would endanger the lives of 230 million or more knowledge workers, or around 9 percent of the global workforce. On the other hand, RPA is also generating new employment and modifying current occupations. According to McKinsey, fewer than 5% of occupations can be fully automated, while over 60% can be partially automated. Until strong AI becomes a reality, with RPA, only redundant jobs will be rendered obsolete.
RPA provides a wide range of job prospects for IT professionals when it comes to future technology trends. These may include RPA developers, RPA analysts, project managers, business analysts, solution architects, etc. All these facts and statistics make RPA one of the top technology trends.
Mastering RPA can assist you in obtaining high-paying employment such as:
The RPA Analyst
6. Edge Computing
With the rise of AWS (Amazon Web Services), Microsoft Azure, and Google Cloud Platform, cloud computing has become an important technology trend to keep an eye on. More and more firms are migrating to cloud computing, fueling the continued growth of the cloud computing industry. However, it is no longer considered an emerging technology trend. It’s edge computing that has become the new focus.
Cloud computing’s drawbacks have become more evident as many data companies dealing with them grow. When it comes to cloud computing’s latency, edge computing is highly beneficial and effective as an alternative method of delivering data to data centers. Edge computing is becoming more popular to handle time-sensitive data in remote locations with limited or no access to a centralized site. Edge computing can serve as a small data center in these circumstances. Additionally, it would help save bandwidth.
The growth of edge computing
As the number of Internet of Things (IoT) devices grows, the utilization of edge computing will also grow. Most IoT applications produce a huge amount of data, and this data is usually processed on cloud servers. Hence, the data is required to be transferred to storage servers beforehand. The servers processing this data will access this data, and hence edge computing will come into play. According to forecasts, the worldwide edge computing industry will reach $6.72 billion by 2022. There is little doubt that this new technological trend will continue to expand, increasing the need for software engineers and other related professions.
Cloud computing, as well as new-age edge and quantum computing, can help you get high-paying positions like:
Cloud Architect and Security Architect
The cloud Reliability Engineer
Cloud Infrastructure Engineer
DevOps Cloud Engineer
7. Internet of Things (IoT)
IoT is among the top technology trends to watch in 2022. The inclusion of WiFi connection in many “things” now means that they may be connected to the Internet—as well as to each other. Therefore, the Internet of Things (IoT) is the future and has already enabled devices to connect to the Internet and share data.
We’re already reaping the benefits of the IoT as customers. Using our Fitbits, we can lock our doors remotely if we fail to do so before we leave for work, as well as pre-heat our ovens on our way home. On the other hand, the business community stands to earn significantly both now and in the foreseeable future. Data gathered and processed by the IoT may help organizations improve their safety, efficiency, and decision-making. In addition to enabling predictive maintenance, it can also speed up medical care, enhance customer service, and provide other advantages that we haven’t yet thought of.
The growth of IoT
Estimates show that by 2030, around 50 billion of these Internet of Things devices will be in use throughout the globe. And this will create a massive network of connected devices that will include anything and everything, from smartphones to kitchen appliances. In 2022, global spending on the IoT is expected to exceed 1.1 trillion US dollars. New technologies like 5G are projected to propel the industry forward in the coming years.
Those who want to work in this rapidly evolving field must learn about information security, embedded programming, etc. Computer architecture and electronic engineering expertise would also be required for more complex development processes.
8. Cyber Security
Given that cyber security has been around for quite some time, it may not seem to be one of the top technology trends. Nevertheless, it is advancing in the same way that other technologies are. This is partly because new threats are continually emerging. Malevolent hackers attempting to get illicit access to data will not give up anytime soon. And they will continue to develop methods to defeat even the most stringent security measures. It’s also partly because new technology is being adopted to improve security. Security will continue to be a popular technology as long as hackers contend with it. And that’s because cyber security will always advance to combat those hackers. Moreover, sometimes data can leak off, and hackers might not be aware of such a leak. Cyber security experts must find these sorts of data leaks, security holes, and even issues with cryptographic algorithms.
The fact that the number of cyber security positions is expanding three times faster than the number of other tech occupations is evidence of the high need for cyber security specialists. Gartner predicts that, by 2025, 60% of enterprises will view cyber security risk as a major factor in undertaking third-party transactions and commercial engagements with third parties.
The last of our top technology trends in 2022 is 5G. Previous generations of mobile technology allowed us to browse the internet, access data-driven services, increase bandwidth for streaming on Spotify or YouTube, and do so much more. And the next generation (5G) of mobile services will completely transform our lives and society. The significance of 5G is faster data rates, higher traffic capacity, and network efficiency, in addition to cloud-based gaming services such as Google Stadia, NVidia GeForce Now, and other similar services. HD cameras that aid with safety and traffic management, smart grid control, and smart retail are all likely to make use of this technology soon.
Everyone from Verizon to T-Mobile to Apple to Nokia to QualComm is working on 5G applications. 5G networks will be available in 40 percent of the globe by 2024. It will handle 25% of all mobile traffic data. So, 5G is one of the top technology trends to keep an eye on and put some money aside for. And if someone is interested in 5G technologies and loves to indulge in a career related to the development of 5G, electrical and telecommunication engineering knowledge would help to a greater degree. Networking knowledge will also be presented as a must.
Our Final Thoughts on the Top Technology Trends in 2022
We at Treinetic are well aware that different trends will have varying effects on different businesses in many ways. The close integration of most trends means that different combinations of technology will be needed to compete at different points in the business growth cycle. The awareness of CIOs and IT executives of their firms’ short- and long-term business goals will be critical in determining which trends will be the most important to watch.
The differences between scrum and kanban practices are simple to point out, but the demarcation between them are obscure. Even though the practices change, the principles are essentially the same. Both frameworks will assist you in developing better products and services while experiencing fewer problems.
Scrum vs. Kanban: What are the Differences?
Because both Scrumand Kanban come under the Agile methodology umbrella, they are excellent frameworks for breaking down bigger, more complicated projects into manageable portions. Let’s compare the two to address the Scrum vs. Kanban debate.
When discussing Scrum vs. Kanban and their differences, we must first understand them separately.
What exactly is Scrum?
Known as the Scrum project management framework, it is used to implement the Agile project management methodology. This is a common approach for projects that demand fast development, testing, and release of products.
The Scrum framework divides a project into short sprints of usually one to four weeks. At the end of each sprint, a Scrum team, usually led by a Scrum master, strives to produce an increment. As part of the Scrum methodology, teams gather daily for daily Scrum (standup meetings) to review progress and improve collaboration.
What is a Scrum Board?
A Scrum Board is a management and monitoring tool used to manage and monitor your Scrum project. Visualizing your product backlog, assigning items to your sprint backlog, and seeing how work is moving in your current sprint are all made easier by this tool.
Though they might be physical boards with sticky notes or cards attached, most Scrum Boards are digital and present in many project management systems.
According to Procurify, a purchasing software start-up based in Canada, organizing their sprints with the help of a collaborative platform saved them 70% of their time. Also, with the ability to see each other’s work, team members can cooperate with people from various departments.
Some advantages and disadvantages of using the Scrum approach and Scrum Boards to manage your projects are as follows:
Rectifying mistakes and avoiding future problems is possible.
A transparent process is made available to clients, who may follow it from beginning to end.
The ability to measure and evaluate the individual performances of each team member.
In part because of its simplicity, Scrum helps to cut off some costs that would have been inevitable if an alternative agile approach had been followed.
Because of the short sprints and regular feedback, it is convenient to make changes.
As the process becomes more flexible, you can make changes at any point in the process.
Because it is iterative in nature, it needs constant feedback from the team to enhance the process.
To accomplish this process, the team must have a high level of confidence in one another. If the governance is very rigorous, the project as a whole may fail.
It does not have a predetermined time limit or cost valuation, which may require numerous sprints to produce an artifact.
Team members can be under increased pressure, and they might have to devote a significant amount of time to project development.
It is difficult for a team member to leave throughout the procedure.
Scope creep may occur if no deadline is specified.
What exactly is Kanban?
To understand the difference between Scrum vs. Kanban, let’s see what Kanban is.
Kanban is another prominent Agile framework that has gained popularity recently. Unlike Scrum, however, Kanban is less time-based and is focused instead on managing the volume of work in process (WIP).
To guarantee a continual flow of productivity, the Kanban framework was created to ensure that no one on the team is overworked or overburdened. It assists project teams in reducing bottlenecks, increasing efficiency, improving quality, and increasing total productivity, among other things.
What is a Kanban Board, and how does it work?
“Planned,” “In Progress,” and “In Review” are all presented on a traditional Kanban planning board or chalkboard. After that, each delivery is put down on a sticky note and assigned to the appropriate status. The sticky note moves across the project status whiteboard as the deliverable progresses through the phases.
The following are some advantages and disadvantages of utilizing Kanban as the development framework to manage your projects:
It assists in pushing work that is often “stuck” through to completion.
It’s simple to set up and put into action anywhere.
Workers’ workloads are clearly visible and readily adjustable.
It’s excellent for categorizing tasks according to who is doing them.
It is particularly well suited for deliverables whose status is heavily reliant on the state of the other.
You can rapidly assess and analyze the overall productivity of your team.
Because there are no time limitations, the delivery of deliverables may be more unhurried.
If the team is underperforming, and it is not immediately obvious to the Kanban lead, the project may easily end up in a disaster.
Outdated Kanban boards may harm productivity.
When working with the classic whiteboard organizing scheme, it might be difficult to distinguish between real work and the board itself.
Kanban vs. Scrum: What are the differences?
It is important to note that Kanban and Scrum are both project frameworks designed to assist teams in adopting the Agile methodology, values, and principles. As a result, they share several characteristics. Process improvement, team collaboration, and breaking projects down into smaller and more manageable portions are all encouraged by both frameworks.
However, when comparing Scrum vs. Kanban, we can observe that the two methodologies take quite different approaches to implementing these ideas. Five critical ways that Kanban and Scrum differ are listed below:
Scrum vs. Kanban Roles and responsibilities
There are clearly defined duties and expectations for each of the three specific roles in the Scrum methodology.
Scrum masters serve as facilitators and coaches for the team. Their role is to assist in removing bottlenecks and ensure that the team continues to move ahead on the proper course.
Product owners are in charge of developing the product roadmap and ensuring that the demands and preferences of consumers are accurately translated into functional product features.
Scrum team members are responsible for the majority of the project’s work. They are a self-managed team that is responsible for the preparation, execution, and evaluation of project sprints and their results, among other things.
Kanban does not prescribe roles in the same way that Scrum does. Team members should maintain their current roles and responsibilities according to one of the four Kanban principles. This notion holds that teams will more quickly accept the framework if they are not required to worry about changing job titles and descriptions. So, this is a major difference to highlight when reviewing Scrum vs. Kanban.
Scrum vs. Kanban: Delegation and prioritization
Delegation and prioritization are important factors to consider when comparing Scrum vs. Kanban. Scrum is a project management methodology built on the principle of self-managed teams. Because they represent the client’s demands, the product owner may eventually have the last say on which features or tasks are prioritized on the product backlog (a list of all the features, tasks, and work that has to be done on the project). However, the whole team contributes to the decision of which tasks will be done in a sprint.
Similarly, Scrum team members often have complete autonomy when doing their tasks within a given sprint. They have control over which things they work on. However, it is possible that those decisions can be affected by collective decisions at scrum meetings. And when they work on them, as long as everything is completed by the end of the sprint.
Even though Kanban supports cooperation and leadership at all levels, it does not embrace the self-managed team to the same extent as Scrum does. The fact that Kanban encourages teams to preserve their prior responsibilities means that previous team configurations often govern how delegation is handled.
A typical manager’s responsibilities include prioritizing tasks and actively managing the workflow. Depending on the situation, they may assign particular duties to specific personnel or allow them to be done on a “first come, first served” basis.
Modifications and changes
When explaining the difference between Scrum vs. Kanban, we can see that they handle modifications and changes in very different ways.
Scrum necessitates that a sprint be planned before starting, that the team performs its task, and that the sprint concludes with product delivery and evaluation. Customer feedback, problems, bugs, and desired modifications are subsequently added to the main product backlog and prioritized for inclusion in future sprints.
In most cases, changes identified in the middle of a sprint are not handled until the next one, unless they are of such a magnitude that they need to be addressed immediately, where the sprint is terminated. The sprint duration will not alter as a result of this method. However, if there are enough change requests, extra sprints may be required to be added to the overall project schedule.
When using Kanban, it’s okay to make adjustments at any stage in the process, and making changes right away is really encouraged. Depending on the degree of the modification, this might influence the project’s timeframe.
Toyota initially developed Kanban for automobile production, and it is now widely utilized for a variety of tasks and bits of labor that are repetitive in nature. When dealing with this sort of situation, when items are interchangeable, the focus is on providing a set volume rather than a specific piece of work. It’s common practice to discard or modify a product that’s been discovered to be broken/faulty or running behind so that it can be put back into production.
Scrum measures productivity using indicators such as velocity and burndown rates.
In a sprint, velocity measures how much work a team does in one delivery cycle.
Using burndown charts, you can see how much work is still left to be done as a graph of task estimates vs time.
The combination of these tools helps highlight how productive the team has been so far and how prolific they must continue to be to finish the project on time.
It is common for Kanban to track cycles, lead times, and work in progress to gauge productivity.
When it comes to cycle time, it is the amount of time it takes a job to complete from the moment it is started. An average of how long work has been in progress is used in this calculation.
In general, lead time is a metric that counts the amount of time it takes from the moment a task is recognized or put on your Kanban board until it is finished.
Consider the following scenario: you were assigned a task on Monday morning, began working on it on Wednesday morning, and finished it by the end of the day on Friday. Using the example above, your lead time (Monday to Friday) was five days, and your cycle time was three days (Wednesday to Friday).
“Work in progress” is a metric that represents the average volume of tasks currently being worked on your Kanban board.
Scrum vs. Kanban: Due dates and delivery timelines
When comparing Scrum vs. Kanban, the due date and delivery deadline are two important elements to consider.
Scrum sprints are generally one to four weeks in duration, and at the conclusion of each sprint, a product increment is delivered. Any accompanying documents, such as training materials, would be supplied at the same time as the main package. Due dates or deliveries that fall in the middle of a sprint are slightly uncommon.
In the case of interdependent tasks allocated to the same sprint, the exception would be allowed to stand. If job B cannot begin until task A is finished, task A may be assigned an earlier due date to guarantee that both tasks are completed on time for delivery. Many times, there isn’t even a formal due date specified, and the team just handles these dependencies during their regular daily scrums.
Continuous delivery is at the heart of Kanban’s philosophy. Kanban teams often work on projects, items, or deliverables that are unrelated to one another. This allows for immediate delivery of finished products to the customer once a piece of work is done.
Teams have the option of grouping deliveries to avoid sending one item at a time. However, this is entirely up to the teams themselves. For example, you may decide to ship every Friday or every time you reach a total of 20 finished items.
Kanban’s major emphasis on cycle time and lead time, rather than which piece of work is due, tends to concentrate on cycle time and lead time. As a result, due dates are more often based on target turnaround times than on when consumers anticipate deliveries to be made available.
When it comes to planning a project, which project plan board and framework are the most effective?
Whether or not you should utilize Kanban vs. Scrum depends on the sort of project you’re working on. Scrum and Kanban are two frameworks that are best suited for projects of different types and scopes.
However, here’s a quick breakdown of the situation:
Scrum is a better framework and project planning board for one-off projects with numerous variables and uncertainties. It supports working equally well for one-off projects with deadlines as it does for other projects.
Kanban is a more effective framework and project plan board for projects that you’ve done previously or that are recurrent, include numerous deliverables, and need to keep a close watch on individual capability and performance.
Scrum vs. Kanban: Does it have to be either-or?
Scrumban is a third option that may be considered. Teams that find Kanban too flexible and Scrum too rigorous would benefit from this mix of the two frameworks, which offers a happy medium for them. And we will address this in more detail in future postings, just as we did when we examined Scrum vs. Kanban in this post.
At Treinetic, we know that change is unavoidable, no matter what project you’re working on or who you work for. Embracing an Agile approach is the first step toward boosting communication, continually refining procedures, and having that flexibility built in. Therefore, you and your team are prepared for anything that comes your way. Agile methodologies are becoming more popular.
It takes more than simply writing code to build a new piece of software. Architecture, requirements analysis, design creation, and testing are all steps in this process. The solution is then implemented. Businesses intending to build an application should be aware of the many software development pricing models currently available on the market to make an informed decision. That way, you’ll be able to choose the best option for your project and get the most out of your collaboration with a software development firm.
In this post, we’ll look at the three main software development pricing models, as well as their variants.
It’s worth noting that there’s a huge variety in this market, with numerous models, hybrids, and even name variations. Furthermore, in the contracts prepared by software development agencies, one model may be implemented in various ways. That is why our list is far from complete. It is, nonetheless, a valuable source of knowledge about the most commonly used software development pricing models today. And with this information, you’ll be able to make informed decisions regarding the price plan for your app development.
Software Development Pricing Models and Variants
1. Fixed-price model
Additional variants include fixed-budget, fixed-time, and fixed-scope
2. Time and material software development pricing model
An additional variant is the milestone pricing model.
3. Dedicated team
The model has three variants: offsite, onsite, and outstaffing contract.
So let’s have a look at the pros and cons of each of these software development pricing models now.
1. Fixed-priced software development pricing model
This software development pricing model adjusts the development process based on cost and time predictions based on the project parameters. The budget, specifications, and date of delivery are fixed here. Most projects have a predetermined timeline and set of goals that serve as a basis for calculating payments.
To guarantee that the project is completed on time, it is important to clearly define the scope of the work and establish milestones for completion in advance.
Such a model, on the other hand, makes risk management problematic. It is important to remember that the provider is accountable for the whole management process in this instance. Therefore, it may not be easy to monitor the project’s progress.
During development, unexpected events may occur, including:
Every time you try to change the scope of the project, you will encounter challenges. You’ll need to modify the contract and come up with new conditions to meet your needs. Your product’s time-to-market will increase as a result of this.
If the team comes up with a brilliant new product or solution that would add significant value to your business but needs more time, they may not be able to share this information with you. And that’s because under the fixed-price software development pricing model, the original plan must be adhered to.
Because the agency can’t lose money, the team will work around the clock to meet the agreed-upon scope. In this case, you might forget about better code quality and a robust quality assurance procedure. To meet a deadline, the team must provide a specific scope of work on time; if anything unexpected comes to light, the quality will suffer the most.
Because they can’t fully use their skills and expertise, the team will only work half-heartedly.
Even though you’ll precisely get what you requested, it won’t be the best product you could have had.
You’ll have a hard time making modifications.
The team will not provide any ideas that would be beneficial.
In this case, you won’t be completely satisfied with the result because of the quality of the product.
When should you use a fixed-price software development pricing model?
Your project is small and has a short timeline (lasting less than two months).
You don’t care about being a part of the development process or having a say in how it proceeds. You’d rather agree on everything upfront and then hand the project over to the team as a whole.
If you wish to work with a new provider, you can set up a short pilot project to see how the firm performs before employing them for a major, long-term project.
For your project, you’ve got all the technical specs and a well-developed strategy, as well as wireframes, user journey maps, and user stories in place, so you’re ready to get started. Naturally, it would be beneficial if you had plenty of time to prepare these papers.
There is no doubt in your thoughts that the project’s requirements will not alter in the future.
What do you pay for?
So long as the fixed-price project is completed as per its initial estimates, you pay just for the amount of work agreed upon in advance.
The contract should clearly outline your and the provider’s duties, such as deliver data, feedback from testing, and quality standards. Every time you go above and beyond what was originally agreed upon, you’ll have to pay a fee.
Additional variants of the fixed-price software development pricing model include:
1. a) Fixed budget pricing model
This software development pricing model has a set budget, but the timeframe and scope of the project may be altered throughout the development process. A very limited amount of money is available for this project. Because of this, the software development company will work on building the best possible solution for this budget. Feature and scope changes are possible, but not at the expense of budget changes.
When should you use a fixed-budget software development pricing model?
You are on a tight budget
Because your product specs aren’t set in stone, and your project deadlines are open to constant optimization, you and your team may keep the project scope as fluid as necessary.
What do you pay for?
Regardless of the scope of the project or the delivery date, you pay the agreed-upon amount.
1. b) Fixed-time software development pricing model
It focuses on a team’s ability to provide the product on time. Project parameters like scope and budget may be adjusted, but the deadline for delivering a solution remains fixed.
When is a fixed-time model appropriate?
The most important factor is time, which you estimate to be two months in most cases. Do as much as possible at that time.
Getting your product out into the world quickly is something you’re after.
You expect the solution to be completed within the given period.
What do you pay for?
When you hire a team, you pay for the number of hours they work on your project within the agreed-upon period.
1. c) Fixed-scope software development pricing model
The project scope is set in this model and cannot be amended throughout the project. Nevertheless, the team has some discretion under your guidance in terms of product delivery timelines and budgets.
When should you use a fixed scope pricing model?
You’re looking for a specific product, and you know precisely what you want.
Your team may constantly adjust both your delivery time and your budget based on your needs.
What do you pay for?
When you hire a team, you’re paying for the time it takes to complete the agreed-upon scope of work.
2. Time and material software development pricing model
The time spent on your project and the cost of the materials are accounted for in the time and material software development pricing model. Contracts like this one provide a great deal of time, scope, and financial flexibility, although early estimates have been established. Payments are paid regularly, such as once a month, for example.
The main benefit is that this software development pricing model enables you to easily adjust the requirements and change the work plan without incurring any high costs. This pricing model is an ideal fit for software development teams using current agile approaches (such as the Scrum methodology.)
Furthermore, you’ll be able to track the progress of the team during the whole development process. In this way, you have a better chance of obtaining exactly what you’ve been looking for.
When to use a time and material software development pricing model?
You have a hard time figuring out the final specifications of your product at the outset.
You’d want to get started on development as soon as possible.
You’re hoping to have a say in how big the project will be and how much money you’ll be able to spend.
In order to ensure its success, you wish to be an actively involved product owner who has a significant impact on the development of the application.
Project specs and requirements are constantly evolving.
You don’t have a set deadline for the project.
It will take more than a stated number of months to develop your product. .
What do you pay for?
In this software development pricing model, you pay for the real time the team spends on particular tasks and the cost of everything they use to deliver your product in this pricing model (e.g., access to a specific tool).
Another variation of the time and material pricing model for software development is:
2. a) The milestone pricing model
The scope, price, and time frame of the project are all flexible and adjustable. For example, the client gets invoiced after the service provider has completed the task in a certain time frame, accomplishing an agreed-upon milestone. Good news: You have to pay for basic features and approve each milestone before work can proceed in this model.
When should you use a milestone software development pricing model?
You have a solid working relationship with the service provider.
There’s an established relationship with the provider that reduces both time and the risk of disputes by streamlining the acceptance process.
What do you pay for?
You pay for the development of certain features within a previously set milestone in this model. The amount directly reflects the time invested by the provider’s team in achieving a certain goal.
3. Dedicated team software development pricing model
For a dedicated team, you pay for the time the team members spend working for you. Management of your work is your responsibility. The pricing is based on the hourly rates of the specialized team’s developers. It includes the monthly wages of all employees recruited, plus additional administrative costs.
Using this software development pricing model, you have a great deal of control over the team and can manage them, such as determining the workload. You also receive the privilege to pick your team members from a list of possible candidates provided by the service provider.
This model is comparable to forming an in-house team, except that you can increase or decrease the number of team members. For one thing, you don’t have to hire people and spend money on things like vacations and workspaces for them. As a result, you can flexibly increase or decrease the size of your team over time.
What do you pay for?
For a dedicated team, the monthly salary for each employee is included, as well as additional fees for administrative purposes (called the “management fee”). Monthly payments are the standard. The contract should specify the salary and the fee. You’ll know the monthly cost of your project based on the team’s makeup.
This software development pricing model comes in three variants:
3. a) Offsite dedicated team software development pricing model
In the offsite model, the team works on the premises of the provider, and it is common for the development team to be based in another country.
When should you use an offsite dedicated team software development pricing model?
Same as the dedicated team price model, but with the addition of:
You’re planning a long-term project with unclear requirements.
For a large in-house project, you’re looking for a solution that doesn’t require hiring full-time employees.
You’re OK with the fact that you’ll be managing the team remotely.
Process management is a skill that you have, or you have a team member responsible for it.
What do you pay for?
Same as the dedicated team software development pricing model.
3. b) Onsite dedicated team pricing model
The development team collaborates closely with the rest of your in-house team members on your premises.
When to use an onsite dedicated team software development pricing model:
You want to start a long-term project with unclear requirements.
Your company has a large in-house project, and you’d want to boost your internal team, but you don’t want to recruit additional full-time employees.
Face-to-face contact is vital to you, and you want to work with the team in the same place.
What do you pay for?
The price plan is similar to that of a dedicated team software development pricing model.
In the dedicated team models, the team may have a project manager assigned to it by the service provider. This individual will report to you or the person in charge of the project at your company. It all comes down to the terms you agree to.
3. c) Outstaffing contract pricing model
Hire a team from an outstaffing service to work on your project at either your office or the provider’s.
An outstaffing provider identifies the team members you need based on the number and qualifications of the team members you specify. Teamwork is similar to an in-house team, except that the provider takes care of administrative duties.
This software development pricing model closely resembles the dedicated team model. Here, you don’t use a software agency to find developers but rather an outstaffing provider.
Note: If you assign the duty of recruiting engineers to a software development business, the team may develop a set of methods and workflows that may be used for your project to increase team member productivity. This isn’t something you’ll often find with an outstaffing service.
When should you use an outstaffing contract software development pricing model?
You’re about to embark on a major project with unclear requirements.
This means that you’re prepared to manage your team and assign duties to team members.
An outstaffing service may avoid the need to look for a software house; instead, you may choose to employ their services.
You have a large internal project and want to strengthen your internal team to produce a great product—but you don’t want to recruit more full-time professionals.
What do you pay for?
It is no different from a dedicated team software development pricing structure.
Wrapping things up: how to choose the right pricing model for software development?
There are pros and cons to each of the pricing models mentioned. It’s up to you to make the final choice based on the requirements of both your project and your business.
These are the most important considerations:
The complexity of your project
How many employees would you want to get on board?
Duration of the project
What level of control do you expect to have over the team?
Fixed-price models and their variants aren’t worth considering for long-term projects.
Treinetic’s Thoughts on Software Development Pricing Models
Because we mostly work on long-term projects, we often employ time and material software development pricing models. Our years of expertise in the industry have convinced us that this contract is the best option for developing mobile and web applications.
Are you looking for an award-winning team of experts that can help you get your idea off the ground? Get in touch with one of our experts now. We assist businesses like yours in determining the most appropriate software development pricing and cooperation models for their needs.