The world of crypto is expanding rapidly. At first, users start paying attention to a new sphere where they can get many benefits that don’t exist in web2. Then businesses hop in. Both new users flooding and web3 businesses expanding stimulate the growth of web3.
Using food metaphors, we can compare web3 to a healthy meal which boosts energy, increases health ratings, and reenergize the existing financial system. Web3 gives users financial freedom and broader opportunities for alternative ways to earn money, make money transfers, and what’s important to store assets safely. In addition, web3 is decentralized and there is no central authority to turn off the light in our healthy snack restaurant.
Moreover, staying fit is a modern trend, that’s why more and more users enjoy the taste of web3 and come back for more helpings. If in 2016 there were only 5 million active web3 users worldwide, in 2023 there are 425 million. By the year 2027, the number is expected to reach more than 900 million crypto users.
More users, more wallets. And, if we return to our food metaphor, a crypto wallet is just a plate for a healthy snack for the traditional economy. Of course, some people would like to eat with their hands, but using the plate is neater, and more enjoyable.
The same with wallets. User-friendly, appealing crypto wallets have a bigger potential to engage new users, retain old ones, and increase their overall satisfaction level.
Spatium Web3 Infrastructure Company
Dating back to 2017, Spatium was one of the first web3 development companies to start building MPC wallets. MPC made it possible to significantly improve the UX and UI of the wallet. Users don’t have to store private keys, remember seed phrases, or configure any wallet advanced settings. Spatium wallet is easy to operate for all users, irrespective of their technical background.
Eager to share their wallet development expertise with the rest of the world, Spatium has launched Wallet as a Service (WaaS) platform. Spatium wallets are non-custodial, decentralized, and surprisingly easy to build. All required elements are already pre-built. A bit of assembling, tuning together, making different parts work seamlessly according to your business logic, and you can get a secure user-controlled crypto wallet in no time.
Let’s check what are the components of Spatium WaaS and how applied together they facilitate affordable non-custodial wallet development.
Spatium Innovative Approach
The revolutionary way that is called to change the crypto wallet development industry is paved by three main products: Wallet SDK, Wallet Cloud, and Wallet UI Kit. Due to the pre-built nature of Spatium WaaS solutions, they help customers skip a big chunk of activities.
1. Wallet SDK is Blockchain-agnostic
Choosing the blockchain the wallet will operate on is one of the first steps. Spatium web3 infrastructure integrates the blockchain connector to the Wallet SDK. This module makes Spatium cryptography core compatible with all EVM-based chains, and also significantly facilitates the integration of other blockchains.
2. Wallet UI Kit is a collection of ready-made UI components
Wallet UI Kit is equally helpful if you require a website, web app, or mobile crypto wallet app. Instead of spending big bucks on custom design and the integration of business logic, Spatium web3 infrastructure company provides you with reusable customizable modules. By a team of at least two skilled React professionals, you could get an engaging, well-tested frontend for your product in less than a month.
Spatium crypto wallets feature user-friendly and intuit designs.
3. Wallet Cloud is One API for All Required Third-party Integrations
Spatium web3 infrastructure company offers access to the API. Noteworthy is that if a client purchases Wallet SDK, Wallet Cloud comes with a free limit of 5 thousand monthly active users and 25 thousand monthly active sessions.
Spatium Cloud API covers a variety of services required for the seamless crypto wallet operation. Paired with the client logic of the app and other backend layers, Cloud API helps to:
- create a crypto wallet and ledger account.
- display details of the account and history of transactions
- display blockchain addresses connected to the account
A welcome surprise is that Wallet Cloud and Wallet UI Kit share similar logic, which makes Spatium UI designs much easier to integrate than any other customly designed UI. Wallet Cloud saves a lot of development hours normally spent to connect various third-party providers, enabling robust crypto wallet operation in web3.
4. Integration of Backend Development Logic
Even though Spatium Wallet SDK, Wallet Cloud, and UI Kit are pre-built and heavily tested, a company still needs to create a backend for the project. Backend code is responsible for the seamless performance of the wallet-specific logic, features, and functionality, as well as user and transaction data interaction settings. Spatium can help with advising and consultation, but the backend development is entirely on the client side.
5. Easily Add New Features
Our clients can easily add extra DeFi functionality to their products. These could be issuing a card, crypto exchange, crypto swap, access to dApps, crypto trading, crypto investment, etc. Integration with WalletConnect provides access to DeFi. Adding a new feature might take from two weeks to a month, based on the product complexity level.
6. Reduced Testing Time
Though Spatium web3 infrastructure company offers a WaaS approach and the main three components required to build a crypto wallet come as a package, the testing of the final product is highly desired. Even so, Spatium WaaS infrastructure still significantly cuts the general testing time.
7. Wallet Launch
Spatium web3 infrastructure company uses a pre-paid plan for SDK. 50% of the license is paid when the SDK is purchased, the other 50% is only paid after the product goes live. In addition, the Spatium team could help with the documentation to meet the requirements of the App Store or Google Play.
Conclusion
The time when crypto wallet development was a complicated process eating a big chunk of a company's budget has gone. Nowadays, more companies are offering WaaS infrastructure. It significantly speeds up development and saves precious development hours.
Companies can now concentrate on the concept of the product and the value it can bring to users. Also, a good option to spend the funds is to get a great marketing team. Leave the development to us, please.
If you would like to get to know more about Spatium and our products, [CONTACT_US_CTA]. Also, don’t hesitate to contact us asking about pricing, customizations, and any other issues concerning crypto wallet development.
