We specialize in web and mobile cryptocurrency wallet development. This includes both custodial and non-custodial wallets. We also develop smart wallets and can offer wallet and crypto payments integration.
What are blockchain or crypto wallets?
A blockchain wallet or a cryptocurrency wallet is an application that is used for the transfer of digital transactions or cryptocurrencies between users of a particular blockchain network and triggering blockchain smart contracts. The wallet also allows access to the record of a user’s history of digital transactions as well as their balance. It serves as their blockchain identity and account.
Crypto wallets have a private and public key which are used to process the transaction information. These keys connect to the blockchain and allow users to send transactions (cryptocurrencies) and trigger smart contracts. A transaction on the blockchain is impossible without the use of a wallet.
With the rise of blockchain, digital currency transactions have become increasingly more useful and accessible. Since a large number of currencies have been created, this creates the need for a system that can be used to manage them.
Developing a custom cryptocurrency wallet allows you to offer a tailored solution to users that enables them to carry out transactions – whether on their mobile device or web.
Are you developing your own blockchain project and in need of a wallet? Here’s how your business can benefit from it!
Benefits of Integrating Cryptocurrency Wallet for Your Business
If your business is launching its own blockchain project, you will need to develop a wallet that will enable users to execute blockchain transactions. The benefits of crypto wallet development include:
High security and encryption – Crypto wallets offer a high degree of security thanks to the utilization of cryptography. All of the data stored on the wallet is encrypted and is under no circumstances available to anyone else apart from the wallet holder.
Thanks to additional layers of security, such as two-factor authentication and multi-signature, a wallet cannot be compromised easily. This makes them more secure than other forms of digital payments, and more preferable.
Ease of use – Despite its very high levels of security, a blockchain wallet is very convenient. It is extremely easy for users to install the application and start using it.
Depending on the wallet you want developed, it may be able to store multiple types of data (cryptocurrencies or just regular data transactions) at once. Or, alternatively, you may have a dedicated, stand-alone solution that accepts only one type of transaction.
Integrity and stability – Due to the distributed nature of blockchain, it is a very reliable system. The same data is distributed and verified by all wallet nodes, guaranteeing that it cannot get lost, corrupted or tampered with.
It is therefore highly unlikely that a transaction may collapse or be duplicated. This increases the authenticity and reliability of transactions and creates trust in the blockchain.
Easy transfer and low fees – Wallets eliminate intermediaries in transactions. This allows users to perform instant transactions across borders and with no delays.
Moreover, with a wallet, transaction fees are largely reduced or even eliminated. The result is increased user satisfaction and participation on the platform.
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The Cryptocurrency Wallet Development Process
LimeChain as a crypto wallet development company has developed a process that passess through several stages to ensure full compliance with our clients’ requirements.
When developing cryptocurrency wallets, we can use the following languages, frameworks, and blockchain protocols:
Frameworks: Angular, React, React-Native, Ionic
Blockchain protocols: Ethereum
Wallet development tools: Etherlime
The cryptocurrency wallet development process typically goes through the following stages:
1. Business & technical analysis
Prior to any development on the wallet, a thorough analysis of the business and technical aspects must be conducted.
This analysis is necessary for developers to understand the purpose of the wallet, its relationship to the blockchain project, and the technical requirements for its realization.
2. Architecture design
Once the business and technical specifications of the wallet are understood, the architecture of the wallet app is constructed and coordinated with clients.
This step delineates the relationship between the frontend and backend of the wallet, how the wallet is generated, how data is stored and retrieved, and how transactions are performed. The architecture serves as the blueprint for all subsequent steps of development.
3. Low and high-fidelity designs of the wallet interface
While the architecture maps out the different parts of the wallet and how they interact, fidelity designs are used to specify how it will look, and how users will interact with it.
First, a low-fidelity prototype is created which creates a rough outline of the UI/UX elements. Once this is fully clarified with the client, a high-fidelity design prototype is created. The result of this stage is a prototype that comes as close as possible to the final look and feel of the wallet.
4. Development of wallet smart contracts (if required)
Depending on the project specifications, it may be required to develop wallet smart contracts. Smart contracts are used to manage main triggering events and add functionalities to the wallet, such as the implementation of account recovery processes, bundle transactions, transfer limits, and more.
If smart contracts need to be developed for the wallet, these are subsequently extensively audited and tested, before being deployed.
5. Development of backend services (if required)
If required, backend services are also created. These are necessary for the interactions between the frontend and the blockchain, as well as the execution of any smart contracts.
6. Frontend development
Prior to deployment, the frontend is developed, leading to a final version of the wallet app. The app is then tested for any bugs or omission that may have occurred.
After the preceding steps are completed, the wallet is deployed, and made available to users.
Types of Crypto Wallets
A variety of blockchain wallets exist. In addition to the ones listed below, there are also desktop, hardware, and even paper wallets. The following types of blockchain wallets are the most popular ones:
This type of wallet is an application which can be installed on a mobile device. Mobile wallets are very easy to use, and very suitable for performing daily “on the go” transactions.
These wallets are accessible through a web interface where users login to receive access to their wallet, and make transactions.
Smart contract wallets offer a number of additional features and benefits over usual cryptocurrency wallets. Thanks to their use of smart contracts, these wallets can provide additional recovery and security features to their users.
Cryptocurrency Wallet Development by
LimeChain has been developing cryptocurrency wallets since 2017. We specialize in web and mobile wallet development which includes both custodial and non-custodial wallets. We also develop smart wallets and can offer wallet and crypto payments integration. Our portfolio includes the development of 10+ non-custodial wallets with access recovery for a variety of projects.
We also offer the development of relayers to either sponsor transaction costs or have them paid in the native token. Moreover, we can also provide you with Guardian implementation, as well as other forms of social recovery. These remove the UX hurdles and complexity of the blockchain and make wallets more accessible and user-friendly.
Are you looking for cryptocurrency wallet development services? Get in touch with us to discuss your project needs and to plan the development of your wallet together!