In the last article we had provided you with all the comprehensive knowledge about a blockchain wallet: its general ideas, how it works, and different types. This time let’s continue with this topic by taking a look at its very important aspect: How to create a blockchain wallet app? Let’s find out!
Firstly, before starting off, you should keep in mind some key features that you must include in your crypto wallet app:
Given the popularity and value of cryptocurrencies, wallet apps are prone to many security attacks. That’s why it is always best to enhance the user authentication of your crypto wallet app with a two-factor or multi-factor authentication (2FA or MFA). The 2FA or MFA provides an additional layer of security that many conventional non-crypto apps do not offer. This is done in addition to your username and password to make access to your wallet all the more secure.
QR Code Scanner:
A QR Code Scanner feature adds speed, convenience, simplicity, and security to your crypto wallet app transactions. If your crypto wallet app has a QR code scanner integration, it can facilitate automatic scanning of the wallet addresses, the public keys. As a result, it enhances cryptocurrency transactions with just a single click. So instead of typing all the long characters of public keys one by one, the app user can scan the QR code, and the information is grabbed through the scanner. It is a safe and secure way to do cryptocurrency transactions.
Your wallet must support more than one cryptocurrency. It is because many different currencies are added time-to-time, and their values keep on changing. Also, it would be very inconvenient to you if you have to keep many other wallets to store your cryptos. So your cryptocurrency wallets app must allow you to transact different currencies seamlessly.
Paper Wallet Import:
Some mobile wallet apps also can scan a paper bitcoin wallet using a QR code and then add keys to the app wallet to complete the transaction. The scanned information can then be used to send and receive money. This way brings much convenience to the users.
The blockchain technology on which your crypto app development should be based is a game-changer. Thanks to it, your users will be able to transfer and receive digital currencies via your crypto application in an entirely tamper-proof and fast manner. Moreover, they can view their available balance and the entire transaction history. This is because all completed transactions are transmitted to the blockchain network.
Managing familiar addresses:
As you can see, recently to any app that is related to money transaction people tend to add this feature. The feature aims to make the entire transaction process much smoother, faster, and convenient by providing the users with a mode to manage all frequently-used addresses.
A common but equally important part of a cryptocurrency wallet app is the security feature it comes with. Based on Blockchain, a technology known to revolutionize mobile app security, you must provide your users with the ability to change their PIN, password, or any other personal information they wish to change in the app.
Now, let’s build a blockchain wallet app step by step:
There is a thing you should know is that there are two options: you can use ready-made templates and a set of tools to create an application, customizing it to your needs, or develop your wallet that will ideally fit your requirements from scratch.
1/ Creating a custom wallet application
There are few open-source standard libraries available on the market. They can be used as a basis for your future app. The standard library provides the necessary functionality, configures the wallet for blockchain, and executes financial transactions. All you need to do is to download the API from the respective site, click the corresponding button in the menu to create a new wallet, then provide your wallet name and set up permissions for outgoing and incoming transactions. Finally, select the third-party programs that you need and integrate them with your wallet.
2/ Developing Bitcoin wallet apps from scratch
Bitcoin code is open source and free. So, it’s not a problem to find all the standards and create an independent application that fits personal preferences and business needs. This kind of development is more difficult and expensive, as it requires more time, effort, and knowledge. However, a custom application is always more valuable as it is perfect for all needs.
Firstly, Discovery Phase
This stage includes the analysis, project plan, workflow, and wireframes approval. It helps to define business goals, analyze and prepare a plan for further development and find optimal technologies.
Secondly, Build a Prototype
In this phase, an actual prototype is designed based on the information gathered by the customer. It is a small working model of the required system.
During the design phase, the actual conceptualization of the solution is created, that is, detailed software architecture is created that meets the specific requirements of the project.
The development phase is about writing code and converting design documentation into real software during the software development process.
Finally, Quality Assurance
The QA team conducts a series of tests, including functionality testing, system integration and interoperability, and user acceptance testing to ensure that the code is clean and that the solution’s business goals are met.