Modex Competitors

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Modex: Competitive Analysis

The top five competitors of Modex are IBM's Blockchain Platform IDE, Zilliqa, Pyrofex's Cryptofex, Dino Platform, and BlockIDE.

Research methodology

We commenced our research by examining the official website of Modex and their social media profiles on LinkedIn and Crunchbase. This gave us an idea on the service-capabilities of Modex. By taking this as a lead, we looked into several reputed sources such as TechCrunch, TechRadar, GitHub, BlockGeeks, CodeMentor, HackerNoon, and CryptoNinjas for company profiles that matched with Modex.

Further, we analyzed domains such as Owler, CB Insights, Crunchbase, and Hoovers to identify the competitors of Modex. Following this, we also looked for expert opinions in LinkedIn and credible news publications regarding integrated development environments (IDE). However, since IDE is a relatively new software application, there are not many players who are offering IDE. This was apparent when we were unable to locate significant information in the aforementioned sources. Also, in order to fulfill the criteria, we could not randomly select companies who operate in the domain of blockchain.

However, we were still able to identify five companies. The companies that we selected provide IDE for blockchain and more general development platforms for DLT developers. Nonetheless, not of all these companies provide the same importance on training as a service. But, all of them have some aspects of learning associated with them. For example, in Cryptofex, programmers can learn how to code on a Solidity IDE, whereas, BlockIDE enables novice developers to develop codes on their own.

Since five of the selected companies or competitors were founded between 2016 and 2018 and being small private companies backed by funding, information concerning their revenue was non-existent in the public domain. We were only able to acquire the market share of IBM in the total corporate blockchain market. Due to lack of revenue details, we were unable to rank the companies and deployed the following strategies to find the required information:

ALTERNATE DATA SETS
Since most of the selected companies were hardly two or three years old and private companies backed up by venture capital, we decided to use their funding amount as a metric to rank. For this, we scanned Crunchbase, Pitchbook, CBInsights and sites like Owler, Hoovers and Manta. However, except Zilliqa and BlockIDE, the required data points could not be found for any other company.

TECH DATABASES AND PORTALS
We looked into TechCrunch, TechRadar, GitHub, BlockGeeks, CodeMentor, HackerNoon, and CryptoNinjas to identify the revenue of the companies. We also examined market research analysis portals such as Grandview, MarketsandMarkets, Technavio, and other similar sites to gain insights on the market players and their share. However, no information was available relating to revenue or market share on the accessible side of the paywall in these reports.

BROADENING THE CRITERIA
We tried to discover the market size of the entire blockchain market and the percentage share of IDE segment (companies like Modex) to get an overall idea on the size of this market. However, although the total market size of blockchain market was available, there was no data available relating to IDE or development platform providers.

ALTERNATE RANKING METRICS: TWITTER FOLLOWERS
Due to the above-mentioned limitations, we decided to find out the number of followers the companies have on social media, assuming that the popularity of these companies must have translated to higher number of users. We discovered that Twitter was the only platform which was used by all the companies. Therefore, we ranked the companies based on their twitter followers.

Top five competitors of modex

1. IBM'S BLOCKCHAIN IDE PLATFORM

  • Company name: IBM
  • Revenue or market share: IBM claims to have 32% of the corporate blockchain market share. However, the precise or the actual market share of IBM's IDE platform was not publicly available.
  • Twitter followers: 66,600
  • Facebook followers: 19,075
  • The link to the official website of IBM is here.

What makes IBm a competitor to modex?

IBM's new 'Blockchain Platform IDE' enables developers to discover, code, test, debug, package, deploy, and publish smart contracts identical to that of Modex.

2. zilliqa

  • Company name: Zilliqa
  • Revenue or market share: No information was available regarding the company's revenue or market Share. However, the company was founded in 2016 and has received a total funding of $1 million to date.
  • Twitter followers: 59,300
  • Facebook followers: N/A
  • The link to the official website of Zilliqa is here.

What makes zilliqa a competitor to modex?

3. Pyrofex's cryptofex

  • Company name: Pyrofex
  • Revenue or market share: Information regarding the revenue of Pyrofex is unavailable in the public domain.
  • Twitter followers: 319
  • Facebook followers: 586
  • The link to the official website of Cryptofex is here.

What makes cryptofex a competitor to modex?

Pyrofex's Cryptofex is a competitor to Modex because they provide IDE for blockchain developers, user support to develop smart contracts, and guidance to programmers on learning how to code in a Solidity IDE.

4. Dino platform

  • Company name: Dino Platform
  • Revenue or market share: Revenue details of Dino Platform is non-existent in the public domain.
  • Twitter followers: 188
  • Facebook followers: 286
  • The link to the official website of Dino Platform is here.

What makes Dino platform a competitor to modex?

Like Modex, Dino Platform provides smart contract IDE with a cloud-based graphical user interface (GUI) which helps developers to build their smart contracts.

5. blockide

  • Company name: BlockIDE
  • Revenue or market share: No information on BlockIDE's revenue or market share was publicly available. The company was founded in November 2017 and has received a funding of $25,000 from one funding round.
  • Twitter followers: 78
  • Facebook followers: 272
  • The link to the official website of BlockIDE is here.

What makes blockide a competitor to modex?

Like Modex, BlockIDE enables new and skilled developers to develop, manage, and deploy smart contracts using any blockchain in a secure and private hyperledger in their IDE. Their smart contract wizard also bridges the gap between blockchain technology and helps users to integrate smart contracts into their existing infrastructure.
Sources
Sources

Quotes
  • "Modex is a Smart Contract Marketplace that aims to bridge the gap between developers and end users to bring the benefits of blockchain to the real world. This solves the blockchain "last mile"​ of adoption problem. Modex makes it incredibly easy for developers to monetize their skills and for end-users and businesses to find and deploy ready-made, security audited smart contracts that are useful in the real world. "
Quotes
  • "When building smart contracts and blockchain applications with Hyperledger Fabric, you will also benefit from using the new IBM Blockchain Platform IDE. It enables you to discover, code, test, debug, package, deploy, and publish smart contracts and applications using a single tool. We created the IBM Blockchain Platform IDE as an extension to Visual Studio Code (VSCode), and it is available now in the Visual Studio Code Marketplace. We’re developing the extension in the open, so developers and partners can work with us; check out the issues in the GitHub repository (blockchain-vscode-extension)."
Quotes
  • "IBM’s 1,500+ workers on blockchain"
  • "All of these services feed into the company’s existing IBM Cloud offerings. IBM has more than 1,500 employees working on the technology and claims 32% of corporate blockchain market share, according to reports."
Quotes
  • "Cryptofex is a decentralized integrated development environment (DIDE), a command-line toolset, and an integrated blockchain-based App Store. It includes native support for smart contracts and contracting languages such as Ethereum’s Solidity and RChain’s Rholang and provides programmers with the ability to learn how to code on a Solidity IDE."
Quotes
  • "Zilliqa, the blockchain platform designed to solve the issues of scalability, security, and efficiency currently plaguing existing blockchains, has upgraded their public testnet and introduced an integrated development environment for Scilla, their completely new programming language for developing secure and scalable smart contract applications."
  • "In addition, Zilliqa testnet v2.0 has introduced more stability and security to the high-throughput network and will allow people to join and begin mining test transactions, a major step toward the platform’s public release in Q3 of 2018."
Quotes
  • "In blockchain world, there is a huge knowledge gulf between non-computer professionals from different industries and smart contract development. The DINO Platform aims to address this problem with its proprietary technology, a cloud-based Graphical User Interface (GUI) smart contract Integrated Development Environment (IDE). Leveraging the technology of the DINO Platform, users can build their smart contracts with visualised logic flows. More than just a smart contract IDE, the DINO Platform is intended to build a smart contract ecosystem together with developers all over the world. In the smart contract market, developers may build and design smart contract templates and sell them to the general public."