Cryptocurrency and non-fungible tokens (NFTs) have witnessed considerable growth in the first quarter of 2022. This has ignited the spark of entrepreneurs and aspiring business people to leap into the blockchain space. Like an NFT, cryptocurrency is becoming mainstream; its hype will continue to stay even in the forthcoming years. Undeniably, cryptocurrencies are being used for payment transactions in the place where fiat currencies have been used. A number of people know the significance of cryptocurrency, and there will be no second thought about launching the crypto wallet and providing users a space for smooth crypto transactions. Hey aspiring ones, this blog is for you with insights into Math Wallet Clone, a white-label solution with the attributes of a crypto wallet like Math Wallet. Go through for Math Wallet clone development!
What is Cryptocurrency Wallet & Its Types?
Prior we get into the main topic on how to develop Math Wallet Clone, let’s see a brief introduction regarding a crypto wallet and its types. A crypto wallet is nothing but a digital wallet that will store, send, and receive various types of cryptocurrencies. Users could download and install the crypto wallet on compatible devices and check over the transaction history.
The two major fundamentals defining the functionality of the cryptocurrency wallet are a Public key and a Private key. The public key mentioned here is a wallet address which is similar to a bank account number. The private key is compared to the bank account password.
When users need to send cryptocurrency, they have to know the public key of the counterparty, and hence to say public key can be shared. Conversely, the private key must be kept confidential. This is used to access the crypto wallet and carry forward with transactions. Both of these public key as well as private key information is stored on the crypto wallet.
Depending on the way the crypto wallet operates, it is classified into a cold wallet and a hot wallet. A hot wallet is also known by the term hardware wallet. These types of wallets store information of keys even when there is no internet connection. Cold wallets are categorized into desktop wallets, mobile wallets, and web wallets. The common thing in these wallets is that an internet connection is required.
Math Wallet – Universal Multi-Chain Crypto Wallet
With a thorough understanding of what crypto wallets are about, let’s see an overview of a Universal multi-chain crypto wallet and its significance.
When a third party holds cryptocurrency for you, similar to how a bank follows, it is said to be hosted wallet. This is the case; when you want to avoid third-party intervention, the concept of decentralization comes into existence. Math Wallet is one such crypto wallet that follows the decentralization concept. It is a multi-chain crypto wallet supporting 103+ public chains. This comprises the following.
- Mainstream – Bitcoin, Flow, Binance Chain, Filecoin, EOS, TRON, Solana, Harmony, etc.
- EVM – Ethereum, Avalanche, BNBChain, Polygon, Fuse, Optimism, Celo, Fantom, etc.
- Substrate – Polkadot, Sora, Acala, CRUST, Karura, Edgeware, Neatcoin, etc
- CosmosSDK – Cosmos, Brand Protocol, KAVA, Secret Network, and IRISnet
Why Go For Cryptocurrency Wallet Like Math Development?
The global user of Bitcoin has tremendously increased in the era of blockchain. Furthermore, the active number of users for crypto wallets too soared. Such kinds of popularities have inspired the way to invest in cryptocurrencies.
There are over 10,000 cryptocurrencies present in the market. This ascended number is mainly because of the potential growth and prominence of Bitcoin and Ethereum. Keeping this in mind, having an own cryptocurrency wallet has become quite necessary for an individual business to leverage the present circumstance in order to take their business to the next stage.
Unlike other wallets, the ease of using a crypto wallet is quite easy and simple, facilitating the users to make transactions at their ease of convenience. It is mainly because of the features that have been infused. The secureness of crypto transactions is achieved due to the incorporation of Mnemonic phrases, Private keys, Two-factor authentication, and so many. Other few significant features include the following.
With the help of crypto swapping and exchanging features, users will be able to convert USDT to BTC, EOS, and so many others within a few seconds.
Utilizing the Math Wallet API will aid you in creating DApp. Regardless of this feature, the session logout feature ensures secureness in which the session will be logged out automatically if in case of the session is idle for too long time.
Looking Forward To Develop A Crypto Wallet Similar To Math Wallet?
General Steps To Be Carried Out For Cryptocurrency Wallet Development
Knowing the phenomenal prominence of a Math Wallet app, it would be a good idea to go for deploying the one similar to it. Do you intend to do so? Beforehand, have won’t you have sound knowledge regarding the development process. The following are the key points that need to be given utmost priority during Cryptocurrency wallet development. These general points are also suitable for developing a cryptocurrency wallet like Math. Check out these.
Explore The World Of Blockchain & Crypto
Blockchain is the underlying technology that cryptocurrencies will operate on. Its attribute involves storing of transferring information on the blockchain. It is a revolutionizing technology with the sole purpose of storing information in a secured manner. Its existing potential leads the way for so many use cases, with advantages. Therefore, there will seemingly be the ideal time now to explore the world of blockchain & crypto.
Make Use Of Open-Source Libraries For Crypto Wallet Development
Not a few, but many cryptocurrencies are open-source, i.e., free and hence it is advisory to make use of free libraries for crypto wallet development. Two predominant open-source libraries are Coinbase SDK and BitcoinJ SDK. Apart from these libraries, languages used to be given importance. Some popular languages include Python, Ruby, Java, C++, etc.
Integration Of APIs
API (Application Programming Interface), a defined rule, integrating it is such a best idea. Some popular APIs that are to be integrated or linked are Coinbase, Factom, Bitcore, and many more. In the case of using a distributed ledger API, this will make synchronization of crypto wallet with blockchain much easier way.
Determine The Cloud Platform To Develop Crypto Wallet
Choosing the appropriate cloud platform is much requisite for crypto wallet development. If in the case of web app development, going for Platform-as-a-service (PAAS) would be the ideal solution. Whereas, when it comes to creating a crypto wallet, pick the BAAS (Blockchain-as-a-service) for the integration of the cloud.
Choose The Suitable Tech Stack
Technology stack plays an important role in the crypto wallet like Math development. So, it is necessary to choose the most suitable one. Below is some tech stack to employ.
- Crypto wallet web application – Node.js/Angular.js and HTML5 & CSS3
- Crypto wallet Android app – Java or Kotlin
- Crypto wallet iOS app – Objective-C or Swift
Pick The Unique Features
As the plenitude of crypto wallets is present in the market, what makes yours outstanding is important. So, check out your competitors to know what features they have included. Make certain to pick the unique features for Math Wallet development.
Set Forth To Develop A Math Wallet In An Instant With INORU
Intend to develop a Math wallet? Creating it from the beginning seems to take more time and is a lengthy process too. This is the case to avoid hassles; employing a Math Wallet clone script would be the best alternative option. It is nothing but a white-label solution with features similar to a Math wallet, empowering you to leap into the crypto space. Build Mallet Wallet Clone App with INORU, A Secured Cryprocurrency Wallet development company. We, with our skilled blockchain experts, aims to deliver the Crypto Wallet Clone personalized for you, get in touch with us!