How much does it cost to develop a multi-currency wallet? What are the types of blockchain wallets?

Many times, many friends like to ask me at the beginning: How much money to develop a multi-currency wallet? This problem is very common but every time I have a headache, every time I will say: The price needs to be based on your specific needs to evaluate, and then many friends will think I do not want to quote, but here I want to make a simple analogy, to explain for themselves. If you want to build a house, you say directly, I build a house, how much money? I must still ask your specific needs, two floors flat is also a house, two-storey cottage is also a house, in the suburbs to build houses and build houses in the city, ordinary decoration and luxury decoration, these are the house, that price? Oh, God, don't be so bad. Back to the chase. "How much does it cost to develop a multi-currency wallet? "The only wallet that goes into the turn-out is the wallet, the wallet that can generate quantifiable gains like the plus token, and a wallet like vpay with third-party payments and international payments, what kind of wallet do you want to do and what functions do you have?" You do not tell us the demand, how can I give you to evaluate the price? So want to understand the development of multi-currency wallet friends must be clear about your needs, multi-currency wallet development +v:ruiec1688. Here's a brief introduction to the types and basic concepts of blockchain wallets.

In our daily life, a traditional purse is a container for storing money, but for a digital asset purse it is not just for storing cash or digital assets, but also for storing and managing the private key.

Of these, there are two main types of wallets. Cold wallets with hot wallets. Development of multi-currency wallets +v:ruiec1688

Depending on whether it is connected to the Internet, wallets can be divided into cold wallets and hot wallets.

Cold Wallet

Concept: Off-network offline wallet, can not be accessed by the Internet, such as paper wallets, hardware wallets, non-networked computers or mobile phones.

Principle: Store the private key offline.

Advantages: It is safe to store the digital currency in order to protect the security of the assets during storage.

Cons: Create complex, transfer hassle, hardware corruption or loss of a private key can result in the loss of digital currency, so you need to do a backup; cold wallets cannot send or query digital currency, strictly speaking, the cold purse is an incomplete purse.

Hot Wallet

Concept: Online wallets connected to the Internet, such as networked desktop wallets, mobile wallets, and online wallets.

Principle: The private key is encrypted and stored on the server, and then downloaded and decrypted when needed.

Advantages: can be used to send or query the digital currency, easy to use.

Cons: Being * * * stealing wallet information or cracking encrypted private keys is a high risk.

In simple terms, the cold wallet is safe and the hot wallet is convenient.

It can also be divided into single currency wallets and multi-currency wallets According to the coins in the wallet.

Single currency wallet, which is a single currency wallet. For example, BTC wallets, which are stored in BTC. To do this kind of single currency wallet, mainly to do is the currency, which includes coins, wallets, block browser and the official website.

Multi-currency wallet, which can store a variety of coins, such as Imtoken, this belongs to the multi-currency wallet industry, the development of a better multi-currency wallet. Players can place their own multiple currencies in a multi-currency wallet.

How much does it cost to develop a multi-currency wallet? What are the types of blockchain wallets?