What are blockchain or crypto wallets?

Cryptocurrency wallet is an application that is used for the transfer of digital transactions between users of a particular blockchain.These wallets have a public and a private key which is used to process transaction information. These keys connect tothe blockchain and allows users to send trancactions and trigger smart contracts. Transaction on the blockchain is impossible without the use of a wallet. The wallet serves as the holder's blockchain identity and also provides access to it's holder's digital transaction history and their balance.

Custom cryptocurrency wallet development allows you to offer a tailored solution that enables users to carry out transactions whether on their mobile or web.

Are you working on your own blockchain project and need a cryptocurrency wallet development? Here’s how your business can benefit from it!

Benefits of Crypto wallet Development
for Business

Ease of Use
Blockchain wallet is extremely convenient and easy to use despite of its's high levels of security. Users just need to install the application to use it. Depending upon the type of wallet you want to develop, it may be able to store multiple types of data at once or you may have a dedicated stand alone solution that accepts only one type of data or transaction.
Highly Secured
Crypto wallets uses cryptography that offers a high level of security. All the data stored is encrypted and only available to wallet holder. It has additional layers of security such as two-factor authentication and multi-signature which makes them more secure than other forms of digital paymets.
Integrity and security
In blockchain same data is distributed and verified by all wallet nodes which makes it more reliable guaranteeing that data will never get lost or alter. This increases the authenticity and reliability of transactions and creates trust in the blockchain.
Easy Transfer and Low Fees
Wallets eliminates middlemen/ intermeriaries in transaction across borders. Transaction fees are greatly reduced or even eliminated which results in increased user satisfaction and participation on the platform.

The Crypto Wallet Development Process

The process of developing a wallet goes through several stages to ensure it's full compliance
with client's requirements. We can use following programming languages, frameworks and
protocols to devlop cryptocurrency wallet:
1. Business and Technical Analysis:
Initially a thorough analysis of business and technical aspects is conducted to understand the purpose of the wallet, it's relation to blockchain project and it's technical requirements.
2.Architectural Design
This step determines the relationship between the frontend and backend of the wallet, how the wallet is generated, how data is stored and retreived and how transactions are performed.The architecture serves as the blueprint for all succeeding steps of development.
3. Low and High Fedelity Design
The fidelity designs are used to specify how the wallet will look and how users will interact with it. A low fidelity prototype is created to provide a rough outline of the UI/UX elements.After that a high fidelty prototype is created once the client is fully satisfied . The result of this stage is a prototype that come as close as possible to the final look of the wallet.
4. Development of Wallet
Developing wallet smart contracts may be required depending on the project specifications. Smart contracts are used to add functionalites to the wallet and to manage main triggering events. Functions like bundle transactions,transfer limits , account recovery processes and more. Any smart contract that needed to be develop for the wallet are significantly audited and tested prior to their deployment.
5. Development of Backend Services
Backend services are also created, if project requires. Backend services are necessary for the interaction between the frontend and the blockchain, as well as execution of any smart contract.
6. Frontend Deployment
The frontend is developed prior to the deployment, leading to a final version of the wallet app. The app is then tested for any bugs or omissions that may have occurred.
7. Deployment
After all the steps are completed, the wallet is deployed and made available for users.

Looking fir Wallets Development Services

Get in touch with us to discuss your project needs and to planthe development of your wallet together!