Looking for Bitcoin App Development? This blog covers crucial insights you should consider during your Bitcoin Application Development.
Cryptocurrency wallets are becoming increasingly popular, and many companies are now entering the competitive race to develop wallets to let users transact, pay, and exchange numerous cryptocurrencies. If you are looking for a bitcoin application development, you need to understand various features and functionalities that should go behind Bitcoin Wallet App. This blog will discuss how you can create a Bitcoin Wallet App.
What is a Bitcoin Wallet App?
A Bitcoin wallet is considered a digital wallet that allows you to store, send, and receive Bitcoin. You can create a Bitcoin wallet app using a variety of programming languages. Some popular languages for creating Bitcoin wallet apps include Java, Python, and C++. The Bitcoin Wallet app functions based on cryptographic keys. One is the private key, and the other is the public key. For instance, a detail like a bank account can be a public key, but more associated data that needs to be confidential is the private key, and it can be considered as an access point for cryptocurrency.
Bitcoin App Development – How to Create a Cryptocurrency Wallet?
Here are steps you should consider while developing a cryptocurrency wallet:
- Understand Cryptocurrency and Blockchain
Before diving into blockchain application development, it is first important to understand cryptocurrency and blockchain concepts. You need to understand how applications are developed in cryptocurrency and what programming languages, platforms, or frameworks are used to develop a scalable app. If you are developing a Bitcoin Wallet App, you need to understand how transactions are processed in crypto and how keys are managed to go further into the development process.
- Choose Standard Libraries for Bitcoin Wallet App Development
There are various open-source libraries available for Bitcoin App Development. You can choose standard libraries such as Bitcoin J, Ethereum J, Coinbase, Bitcore, etc. Choosing the right bitcoin library is important for developing a successful bitcoin wallet app. You need to choose a reliable library that supports the features you need.
- Using API to Develop Scalably and Feature-Rich Blockchain Apps
The APIs or Application Programming Interface makes it easy to develop a feature-rich blockchain app. It is also used for interacting with blockchain networks to execute transactions which also allows you to add on more features and functionality during Bitcoin App Development. Some common APIs are – Blockchain API, Bitcoin Core API, Ethereum JSON-RPC, etc.
- Choose BaaS or SaaS Platform for Bitcoin Application Development
The application needs to be built upon the right platform, and it should be hosted on a reliable SaaS or BaaS platform to ensure performance, reliability, and scalability. Since the blockchain wallet app has to handle numerous transactions and requests, it is important to deploy Bitcoin App Development in a cloud-based infrastructure. BaaS providers such as Microsoft Azure, Amazon Web Services, IBM Bluemix, and others give developers the tools and infrastructure to build and deploy blockchain-based apps without investing in and maintaining their infrastructure.
- Choose the Technology Stack and Platform
As you are aware of which libraries to choose and which platform to deploy Blockchain Application Development, now you need to understand which technology stack or platform you will choose to develop your bitcoin wallet app. It depends upon whether you are developing an application for android, iOS, or the web or planning to go hybrid.
- Design the App With the Right Features
When going for Blockchain Application Development, you should consider both the front-end and back-end options to develop your app, considering both UI and technology aspects. You need to examine and evaluate features as per your competition to integrate those into your features. Some of the essential features are- QR code scanning, private key storage, two-factor authentication, sending/receiving payments, transaction history, a bitcoin exchange, etc.
The Bitcoin Wallet Apps are in demand, and if you are looking to develop one, you should consider the factors listed in this blog for successful bitcoin app development. You can also connect with experts at Alphonic to build a scalable bitcoin wallet app.