Hire a blockchain wallet app development company in the USA

What is Blockchain Wallet?

A Blockchain (or cryptocurrency) wallet is a software program that enables users to buy, sell, and monitor balance for their digital currency (or assets). If you are involved in the exchange of Bitcoin, Ethereum, or other cryptocurrencies, then you must be using a Blockchain wallet of any type (different wallet types discussed later).

Unlike traditional pocket wallets, Blockchain wallets do not save cryptocurrencies. They keep a record of all transactions (sell, buy, exchange) related to the currency and store them on Blockchain.

How does it work?

A cryptocurrency wallet stores private and public keys for a transaction. The wallet interacts with multiple Blockchains to validate a transaction, enabling users to purchase or sell one or multiple cryptocurrencies. But, what exactly happens in the background that makes a safe, cryptocurrency transaction possible? Let’s understand it with an example.

· Before we move on to how cryptocurrency wallets work, let’s understand the concept of public and private keys that are stored on Blockchain for a transaction. These keys are non-identical pairs of large numbers, wherein, one key can be shared with anyone (public key) and another is kept secret (private key).

· These keys work very similar to the lock-and-key concept- your lock (private key) and keys (public key). No matter how many people have the keys, they can only be of use, if it is used to open the right lock, i.e. the private key is rightly paired with the public key.

· Once you unlock the locker, you can see what’s stored in it. Similarly, when the public and private keys used in transaction matches, users can see the value of their digital assets (Bitcoins, ICO tokens, etc.) in their wallets.

Types of Blockchain Wallet

Software Wallet
Hardware Wallet
Paper Wallet
Single or multi-currency Wallet

We (Codezeros) is a blockchain wallet development company in the USA, that pioneers in developing 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 that ensures the digital asset revolution through Cryptocurrency Exchange Development.

Let's get started!

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