Blockchain Wallet Development for Secure Digital Currency Payments

Cryptocurrencies are only as safe as their wallet. So, it is mandatory to own a secure wallet to execute different types of transactions. Blockchain is the underlying technology that enables the existence of all kinds of cryptocurrency. Due to the growing popularity and widespread adoption of digital currency across the trading platform, there is a rise in demand for the multi-currency crypto wallet to enable smooth and secure transactions for its users.

Blockchain App Factory is a white-label cryptocurrency wallet development provider. They can help you create a cryptocurrency wallet to receive, send and monitor their digital currency transactions. These wallets can handle multi-cryptocurrencies like bitcoin, ethereum, other altcoins, and fiat currencies. The wallets are secured with two-factor authentication (2FA) to eliminate duplicate and proxy transactions.

To get a secure wallet, you need to know everything about crypto wallets, without knowing that it is not possible to choose the right wallet to store your digital currency safely.

Three types of digital currency wallet -

• Software Wallet
• Hardware Wallet
• Paper Wallet

Based on the functionality, wallets are classified into two category -

• Hot Wallet (Software Wallet)
• Cold Wallet (Hardware Wallet & Paper Wallet)

Software Wallet:

A software wallet is the one that can be accessed through the internet. This wallet type is mostly preferred by those who often transact like a trader in an exchange.

It is further divided into three types:

• Web Wallet
• Desktop Wallet
• Mobile wallet

Hardware Wallet:

The hardware wallet is more secure than a software wallet and easier to work with than a paper wallet. It is a physical, electronic device like an external hard disk and pen drive. They use Random Number Generators to generate both public and private keys.

They provide a high level of protection against online attacks, but these hardware wallets are less user-friendly, and funds are less accessible as compared to hot wallets.

Paper Wallet:

It is a piece of paper which contains encrypted blockchain address and private keys. The information is printed on an article in the form of a barcode or QR code. To execute the transaction, one has to scan the code.

They have high protection against online hacking, but they are some inherent flaws that are not quite good for transactions. One of the significant drawbacks is the user cannot do partial fund transaction, that is sending the entire balance at once. So this leads to losing all currency stored in it, and paper wallets are non-reusable.

It is not recommended to use a paper wallet due to its underlying security issues.

A multi-currency wallet is an integral part of using any digital currency. Due to its critical requirement in blockchain networks, you can make more just being a cryptocurrency wallet service provider in the market.

Blockchain App Factory is a team of blockchain developers and cryptocurrency enthusiasts who can create a cryptocurrency wallet which you can take straight into the market. To know more wallet development services, you can schedule a meeting to discuss with the experts. 

Want to try your hands on the trending Ethereum blockchain games? This article is for you!

Blockchain is one of the biggest emerging trends in the present world. Many industries are open to adopting this technology into their space due to its many advantages, and blockchain is predicted to be the future of the business world. The gaming industry is definitely one of them. The evolution of Blockchain has cut down the urge for conventional games. Mainly, the Ethereum blockchain games with the ERC721 protocol is trending widely among dedicated gamers and developers since 2017.

To list out some of the most anticipated ethereum blockchain games currently,

• CryptoKitties
• My Crypto Heroes
• Hash Rush
• Ethermon
• Gods Unchained
• CSC - Crypto Space Commander
• MLB Crypto Baseball

Why Ethereum blockchain games?

• Blockchain offers a decentralized gaming platform
• Within the Ethereum blockchain platform, gamers can purchase anything without having to pay any extra fees.
• Ethereum gaming platform allows access to increased liquidity
• Ethereum platforms games are cheaper than the games available in platforms like Google Play Store, Apple App Store, etc.
• Ethereum platform ensures a secure payment process, eliminating risk factors.
• Offers Globalised access to gamers all around the world.
• Blockchain games are verifiable. This brings in a big advantage for gamers, especially with betting games.

Let’s take a look at some interesting predictions:

• It is said that,during 2019, blockchain games have grown up by 118%
• My Crypto Heroes becomes the best-performing blockchain game with a record of 5,000 active Ethereum Wallets.
• Experts say, QURAS, a new blockchain protocol that is set to launch in 2020, will enable private transactions in the public smart contracts. This will hugely benefit gamers and take the gaming sector to a different level.
• Blockchain technology has been paving the way for greater global exposure in gaming through mobile applications. It is said that blockchain will be the future technology that operates the gaming sector on the whole.
• Ethereum 2.0, which is about to launch in 2020, is set to shape up the gaming industry to a new level by making the gaming experience faster, more secure, efficient, and scalable, thereby attracting millions of gamers all around the world.

The most significant advantage of blockchain games is scalability! This point is a bull’s eye that gains huge traction among hardcore game developers and gamers around the world. With Blockchain platforms, they can make their imaginations come alive, by creating any game they want to, at lower costs and with utmost security and technology integrations. If you’re an entrepreneur, fascinated with developing your own blockchain-based game, let’s look at some essential features for better chances at surviving the widespread competition.

What features should be included with an ethereum blockchain game platform?

• Decentralization
• Legal compliance according to particular geographical boundaries
• Advanced Blockchain technology integration
• Smart contracts integration
• Multi-currency secured wallet
• Multi-language support integration
• Payment Gateway Integration
• Necessary KYC/AML
• Advanced UX/UI
• Admin console and management of transactions.
• Game incentives, rewards mechanism modules, etc.
• Enhanced security, Protection for user’s information.

Closing thoughts:

This article almost covered up everything you need to know about blockchain games and its benefits, features, etc.! With the widely emerging trend and demand for blockchain gaming platforms, it is mandatory that you conduct extensive research and develop a legitimate platform to sustain and shine through the existing competitors. In order to do that, the best choice would be to collaborate with an experienced Ethereum Blockchain Game Development company to build your platform. They will offer whitelabel solutions for your gaming platform, which will enable a smooth, efficient gaming experience. Their platforms will also be robust, secure and feature-rich, thereby attracting global customers. The best part is that you can avail the services real quick and at cost-effective prices! So, go develop your platform today and become viral in the market! 

Cryptocurrency Wallet: Securing All Your Digital Currency in One Place

Cryptocurrency is just a buzzword; they are highly volatile, not as stable as the US dollar or EURO. There are many other such claims, but it has shown immense potential with its decentralized mechanism to conduct any transactions. This blockchain-enabled digital currency is secured with cryptography.

Just like any other currency, cryptocurrency is tradeable. Though it is not part of any existing trade exchanges, there are many cryptocurrency exchanges in which one can use it to buy or sell digital currencies. These digital currencies are created using programming languages, so it can only be stored digitally in a wallet. These wallets are called cryptocurrency wallets. Most of the exchanges create a cryptocurrency wallet as an in-built feature. Users can make use of this cold storage (software wallets) to perform quick transactions.

The digital currency wallets are quite different from the wallet we use. They store various combinations of public keys and private keys. The keys are used to access the cryptocurrency secured in the blockchain.

Public keys help to receive funds from others, and Private keys help send funds to others from one’s wallet. Exchanges create a cryptocurrency wallet that complements their business model.

Different wallets have varying levels of security. Many startups are emerging in this domain, and still, this field is in the beginning stage. So there is a lot of scope for the one who can provide secure wallets that can handle multiple-currency.

To create a secure wallet, it is always necessary to find a cryptocurrency wallet development company. We all know that it is not easy to find the right one. Out of many development service providers, Blockchain App Factory is one of the leading white-label solution providers who can help you launch your wallet service or create a new wallet for your existing exchange.

Blockchain: The Future of Game Development

Blockchain is a fascinating technology that is set to disrupt many traditional industries like the stock market, banking, financial services and insurance. Most of us know about it from cryptocurrencies. Basically, it is a distributed database or ledger, which is difficult to tamper with.

Now, it is revolutionizing the gaming industry at both design and monetary levels that we just couldn’t do with the existing technology. Ethereum game development defines the main logic of the game. The highest number of Ethereum-based games are developed using the Solidity programming language. Currently, there are a few small-time gaming companies that develop blockchain games. But, the key issue is they just make veiled attempts to get people to spend or buy cryptocurrencies for even playing those games.

But there are some legitimate things game developers can do with the Ethereum based gaming platform. For example, you start an RPG game with simple leveling-up mechanics. As the game progresses, you upgrade items with additional power and stats. At one point in time, you sell the items for specific cryptocurrency value to the new upcoming player, he finishes another set of levels, and they gain some more additional power and stats, and this keeps on repeating.

Soon, they become the most coveted items in the game which everyone goes after. Any player who owns these items can see the complete stats and its players’ history. This sounds cool, right? It is one such example that blockchain can do it easily.

There are n-number of possibilities to explore blockchain in this industry. In terms of monetization, you can sell the game for free – no money, no cryptocurrency and non-promotional purchases. Instead, you can ask the players to trade their GPU (Graphics Processing Unit) for mining.

Let’s see what the benefits of Blockchain Game Development are:

1. Regulated Gaming Economy:

Enabling developers and server owners to collect royalties for items being traded in each stage of the game. You can even charge them commissions (fiat or cryptocurrency) to increase revenue.

2. Protection from frauds:

Being an immutable ledger, it provides high security and guards the owners against frauds. This will protect from revenue loss and improve brand identity.

3. In-game Currency:

The transaction on the blockchain is faster, secure and cost-effective for both users and developers. The users can store their coins or tokens in their crypto-wallet and you no need to worry about secured storage of the virtual currency, as the control is with the player itself.

If you have an interesting idea for a game and want to develop using blockchain technology, we will help you to bring your idea into reality. Our team of blockchain developers will assist you to develop a blockchain game with high security, in-app payment facility and other micropayments management system.

The promise of blockchain technology is vast and has huge possibilities to take the gaming industry to a whole new level.

Three different ways of building up your own cryptocurrency exchange

There are three essential approaches to build up your own cryptocurrency exchange. The use of white label software is the primary alternative. Utilizing open-source solution is the subsequent one. The third is the most costly and tedious, building up a crypto exchange starting from the earliest stage.

Whitelabel solutions - There are different firms present in the market that give cryptocurrency exchange white label software. When utilizing white label, you choose an instant arrangement. Use its design, and start your own crypto exchange stage. Right now, experience decrease in benefit, diminished flexibility, and complications with support.

Open-source solutions - This sort of arrangement can be extensively used for any reason. It very well may be conveyed into your exchange in a truly brief timeframe range. Be that as it may, this is problematic, highlights decreased security, and gives improved help to the client.

Customized software development - Building a crypto exchange starting from the earliest stage is a third choice. This requires the most exertion yet prompts the most elevated benefits.

Exchange development shouldn't be a confounded procedure. There are a few arrangements accessible in the wild that are the ideal fit for your cryptocurrency exchange development company. Blockchain App Factory is a cryptocurrency exchange development company that pioneers in developing a complete cryptocurrency exchange software to facilitate secure and fast transactions.

Our team of experienced blockchain developers will build you a customizable and scalable cryptocurrency exchange platform with a high focus on security, connectivity, and seamless environment. Be the company which ensures digital asset revolution through Cryptocurrency Exchange Development. 

Key Features of a Cryptocurrency Exchange You Should Know

‘Currency’ and ‘exchange’ will always coexist. This coexistence can not only be attributed to global travel and the need for foreign currency but also forex trading. The volatility and the fluctuation in the currency value makes it a nice and profitable platform to generate profit from these uncertainties. It is quite evident that volatility increases the relevance of an exchange. If fiat currencies, with so much certainty, can make interesting cases for exchanges, it only makes better sense to have a cryptocurrency exchange.

Cryptocurrency exchanges, as the name implies, help trade between different cryptocurrencies. They also present interesting avenues for reaping profits. A robust cryptocurrency exchange should be able to accept multiple crypto coins and should facilitate faster transactions through real-time value calculation. In addition to that, there are a few unique features that any cryptocurrency exchange should have. We will discuss these features in detail in the below paragraphs.

Margin Trading:

Margin trading simply means that you can trade by using funds that are not entirely your own. You can avail of the funds provided by third parties to expand the scope of your investments. In the classical world of trading, it helps traders get access to a huge volume of funds. These funds are provided by the broker. This enhances the volume of trading and the possibilities of liquidity.

Margin trading is governed by a distinct set of rules and regulations that define leverage rates. The leverage rates differ from exchange to exchange, and in most cases, for the cryptocurrency market, it ranges from 2:1 to 100:1. In mainstream trading terminology, the margin is represented as a multiplier, commonly like 2X, 5X or 50 X.

One of the greatest advantages of cryptocurrency trading is the increase in the possibility of a larger profit. It makes it extremely easy for traders to open positions quickly without placing a lot of their own money at stake. However, the possibility of losses cannot be completely discounted. It is a high-risk trading method and it becomes all the more relevant in a volatile market like a cryptocurrency exchange.

It is greatly suggested that amateurs do not resort to margin trading. Hedging and risk management might seem handy for amateurs. However, with the degree of uncertainty, margin trading is surely not recommended. Once you have mastered analyzing charts and identifying trends, it makes it relatively less risky to involve yourself in margin trading. A deep and meticulous understanding of technical analysis and extensive experience in spot trading is required if you have to master margin trading in the cryptocurrency world.

Derivatives:

People who dread the world of calculus and mathematics might be quite familiar with this term. It simply implies that the value of a quantity does not have a standalone connotation but rather derives its value from another underlying quantity. In the world of securities, a derivative is a financial contract between parties that derives its value from an underlying asset. All the concepts of derivatives that work in the traditional financial world apply to the crypto world as well.

• Swaps - It represents an arrangement between two parties to exchange a series of cash flows in the future. The exchange is usually based on instruments that bear a promise of interest. They can include bonds, loans or notes.
• Futures - In this financial contract, the buyer has an obligation to purchase an asset at a fixed price. The same can also apply to the seller who agrees to sell an asset at a predetermined price in the future.
• Options - Options are quite similar to futures but without the element of obligation. It means that the buyer or the seller has the right to purchase or sell an asset at a predetermined price at a fixed point in the future.

Derivatives protect the investor from volatility and fluctuations. These financial contracts can also be used to protect their investment portfolio.

The cryptocurrency derivatives market is quite nascent and there are only a few derivatives products that are available in the market. The most common of crypto derivatives are the bitcoin futures and options. It is not a thing of surprise as bitcoin amounts to more than 50% of the entire cryptocurrency market cap.

Copy-trading:

In the world of traditional finance, social trading is quite common. Traders share their trade strategy and price predictions on an online platform where other traders who might not have the expertise take those strategies and use it to get their profit. However, in copy-trading, the entire process is automated. The part where exports share their strategies remains the same. However, instead of the newbie traders picking those strategies and executing the trade by themselves, the process is automated.

A user can link a portion of their funds to a trader’s account that they consider reliable. Therefore, in essence, the strategy of the expert trader is literally being copied to the funds of the user. To make this possible, the users need to have access to the complete history and the strategy of the expert traders.

This comes in handy in a market like cryptocurrencies, which is still in its infancy. It is noted that only 1% of the users on a cryptocurrency exchange are engaged in active trading. The rest 99% have stopped with just opening their accounts. The lack of activity can be attributed to the proportional lack of trading skills. Bringing in copy trading in cryptocurrency exchanges will only ensure that the volume of trading increases, contributing to the liquidity of the exchange.

Conclusion:

The success of any exchange depends on the volume of trade and liquidity. It becomes all the more relevant when it comes to a volatile as it like cryptocurrency. Adding these features to a cryptocurrency exchange enhances the possibility of success.

Should you have the lofty desire to create your own cryptocurrency exchange, you can get in touch with our expert development team. Our team, experienced in blockchain and all the associated manifestations of the new technology, will help you create your own cryptocurrency exchange. We will ensure that your exchange is compliant with the local laws and the best practices.