Case Study

Developing a Crypto Wallet MVP for an Investment Company in Dubai

*Disclaimer : This organization’s identity is secured by our non-disclosure agreement which requires us to keep the client’s name confidential. 

65%

Increase in Downloads

73%

Improvement in User Engagement

31%

Increase in Customer Retention

57%

Increase in Average Revenue Per Patient

Horizon Homes is a software company that focuses on improving communication, engagement, productivity and security within provides an innovative communications

iOS App
Android App

Overview

The UAE is actively developing its financial sector infrastructure and innovating digital financial services. The royal family envisions the kingdom to be one of the leading centers for crypto & blockchain technologies. Facilitated by these favorable policies and conditions our client, a reputed investment company for digital startups, was looking for a blockchain development partner to build an (minimum viable product) MVP for their new crypto-wallet app. 

Client Profile

Industry

Financial Services

Technologies Utilized

React Native For Mobile App | Ether.js For Ethereum Integration | Meta Mask for Crypto Wallet Integration | Solidity

Country

Dubai

The Challenge

Crownsoft faced three unique challenges during the development of the crypto wallet application. These included private key generation, smart contract testing, and determining lower Gas fees.

Private key generation, security, and compatibility were the biggest concerns for our Blockchain developers. Since crypto wallet private keys are generated through random processes, it was critical to create strong and unique random processes to make wallets secure against breaches. In addition, our team had to establish secure storage standards for keys to avoid unauthorized access. 

Our second challenge was smart contracts testing. Smart contracts have complex business logic requiring extensive testing before deploying it for investment contracts. They are also immutable, which means they cannot be altered and modified, so versioning challenges and zero-error integration were also major challenges for our developers. The Crownsoft team was tasked with rigorously testing re-entrancy, integer overflows/underflows, and unauthorized access to functions to ensure a highly secure MVP. 

Our third challenge for this project was to minimize gas fees for smart contracts. Keeping gas fees to a minimum demanded efficient data structures, minimal storage operations, and smaller data types. In addition, the client also wanted to combine multiple operations into one transaction to minimize gas fees.

Our Solution

The Team

Crownsoft assigned the largest team for this project to date consisting of two project managers, one UI & UX designer, two full stack blockchain developers, three back-end developers, two front end developers, one DevOps engineer, two security specialists, and two QA testing engineers. 

Ideation, Research & Planning

Crownsoft had a formidable challenge with this project. Our team began with an initial orientation and ideation meeting to outline the objectives, target audience, and core features of the crypto wallet app. Three consultancy sessions were conducted on-site with the client by our UAE based digital business advisor with our project team live on Zoom.  

Our project team collaborated with the client’s crypto analysts for a week to evaluate competitor products, determine end-user needs, and to keep the application up to date and secure. Our entire project team then worked alongside the client team to determine the budget and timeline for the wallet MVP.   

The planning stage was extended to two weeks to determine the roadmap for legal compliance and regulatory needs. The Crownsoft team also developed an effective support, maintenance, and security update strategy for the wallet.

Services Provided

Tools We Used

Figma
React Native

Feature Rich Website Development and Design

The Crownsoft team delivered a feature & functionality rich, high performance eCommerce platform with a trending corporate design and high quality custom code over 5 months. 

Design and Prototyping

Three unique UI/UX designs were developed by our team after extensive user persona and competitor research. Wireframes were presented to the client in week 5 of the project, and the finalized design was approved for an interactive prototype using Figma. The low-fidelity prototype was approved instantly by the client’s team, and moved into development.  

Smart Contract Development

Development began with three developers writing smart contract code for wallet functions using Solidity and one QA specialist rapidly testing the code. The security specialist and a blockchain developer implemented multi-signature measures to ensure contract integrity and security. One QA specialist was simultaneously testing the code, ensuring integrations and units were performing accordingly. 

Smart Contract Development

Development began with three developers writing smart contract code for wallet functions using Solidity and one QA specialist rapidly testing the code. The security specialist and a blockchain developer implemented multi-signature measures to ensure contract integrity and security. One QA specialist was simultaneously testing the code, ensuring integrations and units were performing accordingly. 

Backend Development

Three developers coordinated to set up the backend for managing user data and transaction history in the app. Integration with Ethereum nodes was accomplished with ether.js for account management simplicity. User authentication and session management were implemented using Meta Mask with algorithm generated private keys. 

Backend Development

Three developers coordinated to set up the backend for managing user data and transaction history in the app. Integration with Ethereum nodes was accomplished with ether.js for account management simplicity. User authentication and session management were implemented using Meta Mask with algorithm generated private keys. 

Frontend Development

Three developers worked on the mobile application interface once the design was approved by the client. Front end development began with React Native, with two developers working on the interface with a 3 week deadline. 

The full stack developer began integration with backend APIs and smart contracts once the frontend was completed. Over 7 weeks the development team completed integrations including account management, transaction processing, and other crucial features with our QA expert continuously testing the code.

Frontend Development

Three developers worked on the mobile application interface once the design was approved by the client. Front end development began with React Native, with two developers working on the interface with a 3 week deadline. 

The full stack developer began integration with backend APIs and smart contracts once the frontend was completed. Over 7 weeks the development team completed integrations including account management, transaction processing, and other crucial features with our QA expert continuously testing the code.

Security Audits & QA

Crownsoft’s security specialist and a QA testing engineer began performing security audits on the backend and smart contracts. A senior QA auditor was brought into the project to review the codebase again to ensure adherence with client objectives and Ethereum regulations. Multiple vulnerabilities were patches, design changes were completed, and security protocols were optimized over three weeks. 

Additionally, the two QA testing engineers performed functional, performance, and stress testing across platforms to ensure compatibility for eight days. The MVP was delivered after 99.99% success to the client for user acceptance testing.

Security Audits & QA

Crownsoft’s security specialist and a QA testing engineer began performing security audits on the backend and smart contracts. A senior QA auditor was brought into the project to review the codebase again to ensure adherence with client objectives and Ethereum regulations. Multiple vulnerabilities were patches, design changes were completed, and security protocols were optimized over three weeks. 

Additionally, the two QA testing engineers performed functional, performance, and stress testing across platforms to ensure compatibility for eight days. The MVP was delivered after 99.99% success to the client for user acceptance testing.

Deployment

User testing was conducted for two weeks and final deployment began after 34 weeks of design, development, and testing. Smart contracts were deployed to the Ethereum mainnet, the backend was set up the Google Cloud platform in accordance to client demands.

Deployment

User testing was conducted for two weeks and final deployment began after 34 weeks of design, development, and testing. Smart contracts were deployed to the Ethereum mainnet, the backend was set up the Google Cloud platform in accordance to client demands.

Conclusion

The Crownsoft team is thrilled to have collaborated on the crypto-wallet MVP development project. The app was a rewarding experience for our team, enriching our expertise and allowed us to push the boundaries of innovation together. We gained invaluable knowledge and skills through this partnership, and added another partner to our rapidly growing

Testimonials

After experiencing major issues with our previous smartphone app, we were delighted by the design expertise from Crownsoft. We want to thank the entire Crownsoft team for their excellent focus on our services and vision for the application, special thanks to our project manager Jason who assisted us from the get go, and was always available for our feedback. All of the designer’s concepts were remarkable, there was no delay and the design was delivered in 43 days as scheduled. Our post launch survey has highlighted the design as a top factor that our patients love, thank you from the entire Connect Doc team.

Head of Digital Transformation

Couture Corner Company.

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