How We Built A Cryptocurrency Wallet: The Good, The Bad and The Ugly
FYI: ➤ cryptoland.tech is on Discord , Twitter and LinkedIn! Join our community and let’s keep in touch.
UPDATE: we just published the beta version of our extension wallet on Chrome Store. You can find it here! In case that you want to test it and need Zillings, please use the following steps:
1. Install the extension from here;
2. Create a new wallet;
3. Use this tool to get some testnet Zillings;
4. Test it! :)
5. Feel free to send us your feedback using the form within the extension.
We are happy to share with you on December 11th how we built a cryptocurrency wallet, namely what went good, what went wrong and how we succeeded to overcome all the challenges that we have faced so far.
We will start by defining what a cryptocurrency “wallet” is, how it works and how we landed into developing one as part of a grant programme.
Why I have quoted the keyword wallet above? As simply as it sounds, a cryptocurrency wallet is not a wallet. It’s rather a key that allows a user to interact with a blockchain and enables him to send and receive digital currency assets. Therefore, a cryptocurrency wallet doesn’t store any currency or digital asset. As a matter of fact, the digital currencies are stored within the blockchain. The “wallet” is used just to sign the transactions. Anyway, I hope I grabbed your attention or at least confused you even more. :)
Next we will focus on the tech stack used and my team mates Tiberiu and Micky will share the tech perspective, how the frontend and the logic behind was built. Also, we will introduce the concept of Hierarchy Deterministic (HD) wallets which lets a user to have only one set of 12 secret keywords (mnemonic) for all cryptocurrency wallets that it use.
Since Moonlet Wallet is under active development, we’d love to show you what we achieved so far during a DEMO session. Bear in mind that you can find our codebase in two GitHub repos:
- Core reusable logic: https://github.com/cryptolandtech/moonlet-core
- The frontend app: https://github.com/cryptolandtech/moonlet
- Our master branch is deployed at https://moonlet.cryptoland.tech and can be used by the community.
As of this writing the Moonlet wallet supports wallet creation and restoring using mnemonics as well as simple native coin transfers in a web interface. It can also run as a Chrome extension and even though we haven’t made it public in the Chrome Store yet, anyone who wants to try it out, can let us know and we’ll add them to the testing list.
In the last part of our meetup, we will focus on the next steps. We believe that DevCon4 sent a clear message to all developers, that user experience will drive the mass adoption of decentralised applications. We should start to build for real users and not only for geeks. The current DApps are not usable. Simply as that.
Therefore, as next steps we aim to solve some of the usability issues that most of the wallets are currently facing, e.g address readability, wallet recovery, seamless payments, etc.
- 18:00 → Product view
- 18:15 → Tech approach
- 19:00 → Demo
- 19:15 → Next steps
- 19:30 → Networking