Development of a web crypto wallet

A cryptocurrency wallet is like a bank account, only for managing crypto. It shows how many digital assets you have in your account, in what currency, and allows you to conveniently send, receive and exchange coins.

It is also worth adding that the crypto wallet does not store cryptocurrency. It contains only public and private keys that confirm your ownership of a certain part of the funds, and the crypt itself is stored on the blockchain – a kind of decentralized ledger.

Therefore, if you have 10 BTC in your account, this does not mean that they are in the wallet itself. This means that out of all the conditional 3,000,000 BTC in the blockchain, you can dispose of ten BTC at your discretion. That is, the wallet itself is just an interface in which you can conveniently manage your funds.

There are several types of crypto wallets. Some of them are a standalone mobile application, others are installed on a PC, but the most common type is a web-based crypto wallet. It works directly in the browser, so it can be used from almost any device.

The functionality of crypto wallets may differ, depending on their purpose and tasks. However, there are some basic features that are necessary for its successful operation:

• Authorization. Cryptocurrency is a financial asset, so wallet users should have a sufficient level of security. This makes authorization and personal account one of the mandatory functions of the wallet. For added security, you can add two-factor or multi-factor authentication.
• Push notifications. Such notifications are a mandatory feature for any financial instrument. In a crypto wallet, they are used not only to notify the user about the receipt or withdrawal of funds, but also to inform about changes in the rate of his digital assets.
• Manage familiar addresses. The ability to effectively manage frequently used addresses will greatly improve the speed and convenience of transactions. This can become a significant competitive advantage of the wallet in the market.

• Payment gateway. Integration with a payment gateway, such as PayPal, will allow the user to use the wallet to make merchant transactions. For example, to pay for purchases in online stores.
• Function of trade and exchange. Many users use cryptocurrencies as a tradable asset rather than a stablecoin, so adding the ability to trade and exchange assets would be quite appropriate. In addition, it is worth providing for the function of purchasing digital funds for fiat.
• Scanning a QR code. The function is not required, but the ability to work with QR codes and NFC tags significantly expands the potential of a cryptocurrency wallet, allowing contactless transfers of digital currency. This is important as such transactions are gradually replacing the use of traditional cards and are becoming more and more popular.

A whole team of specialists is involved in creating a cryptocurrency wallet for the web platform, including designers, planners, programmers and testers, whose actions are coordinated by a project manager.

The development process itself can be divided into several interrelated stages. Let’s consider them in more detail.

Step 1. Collecting information and analytics

Any software development starts with analysis. At this step, specialists find out the goals and objectives of the project, as well as study competitors. Based on the information received, a strategy for creating a crypto wallet is formed.

Step 2. Create technical documentation

Software documentation, or software documentation, are documents that describe all the technical characteristics of the project and its implementation plan. It comes in several types:

• Design. Describes the goals, objectives and stages of development.

• Technical. Includes a description of the functions, data structures, algorithms, APIs that will be used in production and the tasks they perform.
• Custom. Describes the functionality of the future wallet in terms of user operation. These can be instructions, CJM – a map of user paths, and so on.

Step 3. Design

At this stage, a UX design is created, which is responsible for how exactly the user will interact with the cryptocurrency wallet. The main design task is to create a user-friendly interface with a logical navigation system.

Step 4. Design

During design development, specialists form the visual shell of the project with which the user will interact. This stage includes the selection of optimal fonts, color palette, creation of interface elements such as forms, menus, buttons, and the logic of their placement on separate pages.

Step 5. Programming

The technical development stage of a browser-based crypto wallet consists of two parts:

• Frontend – developers translate the layout created by designers into code that is understandable for the browser. In this way, it turns into a full-fledged user interface with which you can interact.

To implement this part, AVADA MEDIA often uses Vue.js, React or Angular technologies.

• Backend is the server part of the web wallet, which is responsible for the logic of the functionality and the interaction of the project with the blockchain. This stage of development is the most complex and time-consuming. To implement it, powerful programming languages ​​and their frameworks are used, such as Python / Django, Php / Laravel, Node.js and others.

The choice of optimal technologies is carried out at the stage of drawing up technical documentation, and depends on the technical features and objectives of each individual project.

Testing

After the development is finished, it is important to make sure that the crypto wallet works stably and in accordance with the way it was intended. To do this, it is transferred to the QA department, where it undergoes multi-level testing. In particular, experts check the convenience of the interface, the correct operation of functions and the security of user data.

Support and development

The release and deployment of the project does not mean the end of technical work.

For the first time after starting to use a browser-based crypto wallet, users may encounter errors that were not previously detected. In this case, experts analyze the bug, find its cause and quickly fix it.

In addition, over time, it may turn out that the current functionality of the crypto wallet is not enough, so the developers are again involved in the project for its further development and improvement.

AVADA MEDIA specializes in the development of blockchain solutions of any complexity. To work on each project, we form a separate team of specialists with experience in working together, which allows us to increase the speed of production and the quality of the software.