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With Ethereum users seeking faster and cheaper NFT and DeFi platforms, the Solana blockchain has soared in popularity. As a public Proof-of-stake blockchain, Solana boasts a theoretical throughput of 65,000 TPS, which makes it almost 4,000 times faster than Ethereum with near-zero fees. Lately, Solana’s 24-hour traction volume has surpassed Ethereum a couple of times, making it one of the most used blockchains. But to transact on the Solana blockchain, users need Solana wallets that support faster and more secure transactions, which has further increased the demand for Solana wallet development.
Solana blockchain supports SOL tokens and SPL standard tokens. While SOL is the native token of Solana, it also offers an SPL token standard that is just like what the ERC20 token is for Ethereum. If an investor sends his SOL or SPL tokens to a wallet that does not support Solana, he will lose his tokens:
During Solana wallet development three most important aspects that need to be taken into consideration are:
A wallet address on the Solana blockchain is a long string of base58 characters, which is a very common format in the crypto space. Generally, a Solana wallet address length varies between 32 to 44 characters and looks something like this 3n2C45yBiNapKh6EdDekesZccAFdwTatu46Eyw1UnKx2
Whenever a user creates a new wallet, he needs to create a seed phrase or a security key. This seed phrase is generally composed of 12 English keywords. Your wallet must prompt the user to save this seed phrase in a safe place as it is the only way he or she can restore their wallet if they lose access to it. The seed phrase will be different for every new wallet and looks something like this: moon estate subway tunnel helps net army flash chime sour fun net trap.
The private key is an alphanumeric key that is required to connect to the wallet account. It helps the user identify their wallet on the network. A user needs a private key to generate a public key that can be shared with others. The format of a private key is: npLNkAEgTlnd78Q97G7y6PiwtBgGqKlPgoYjtkuoKsefFAbCocZBbK4vAtefP7BCgJVD9FbNa69UV1sKX8lmDFGY
To build a Solana wallet app that is irresistible, you should consider the below-mentioned features:
1. Wallet for all User Levels
A wallet is the first and foremost interaction tool for any crypto user, and the crypto space has all kinds of investors- beginners to professionals. Some of the users might be tech-savvy and others might not. This is why it is very important to build an intuitive wallet that is packed with advanced trading features for professional traders.
2. Ease of Access
A Solana wallet development team must consider the fact that the wallet must be easy to access by the investor. It could be designed as a mobile app, website, or as an extension, or Google Chrome toolbar.
3. Tools and features
The wallet must offer users tools and features that allow them to view their NFT collections; it must support all kinds of SPL tokens and support staking of SOL or SPL tokens. While discussing staking, it is important that the wallet must display the list of validators to whom the users can delegate their SOL or SPL tokens. However, while designing this, it must be avoided showcasing popular or large validators; all validators must get a fair chance.
4. Security and hardware wallet support
The wallet must be designed and rigorously tested based on different security parameters. Nowadays, users also seek support from hardware wallets like Ledger via their Solana wallets. This makes it easy for them to move their funds securely between hot and cold storage.
5. Multicurrency support
This feature goes without saying. With over 4,000 cryptocurrencies in the market, the user might demand maximum trading pairs but you need to make sure that the token your Solana wallet supports have enough liquidity too.
6. QR code scanner
A QR code scanner feature simplifies the process of sending and receiving tokens to a particular address. This also reduces the chances of the user tokens going to the wrong wallet address as it just requires the user to scan the receiver’s wallet address.
Wrapping it up
Solana claims to be one of the fastest blockchains but if the users don’t have access to a technically advanced wallet, Solana can never be utilized to its full potential.
At Antier Solutions, we are a team of seasoned blockchain engineers who are capable of supporting world-class Solana wallet development.
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