Crypto Wallet Consulting to Drive 12x Development Cost Reduction
Summary
ScienceSoft provided consulting on multi-chain crypto wallet development for Secure-DeFi, a fintech startup focused on creating innovative cryptocurrency products. Thanks to a clear crypto wallet concept and a detailed project plan that ScienceSoft delivered, the Client got an opportunity to cut the development cost 12x+ times.
About Secure-DeFi
Secure-DeFi is an EU fintech startup that creates innovative products intended to ensure maximum protection of crypto investors’ funds.
Secure-DeFi wanted to design and build a multi-chain cryptocurrency wallet that would let users convert cryptocurrencies without commission. Also, the Client planned to integrate their product with a customer portal to facilitate access to the wallet, streamline distribution of user rewards, provide users with up-to-date cryptocurrency conversion rates, and more.
Secure-DeFi lacked in-house competencies to create a clear product concept, estimate resources required for the development project and introduce an accurate implementation roadmap to minimize project-associated risks. They looked for an expert team having proficiency in blockchain development and practical knowledge in the fintech industry to plan out cryptocurrency wallet development.
Consulting on Cryptocurrency Wallet Development
In 10 days after the initial request, ScienceSoft provided Secure-DeFi with a dedicated crypto wallet consulting team. Working in close collaboration with the Client’s team, ScienceSoft’s experts thoroughly analyzed Secure-DeFi’s needs and elicited precise requirements for the cryptocurrency wallet.
Secure-DeFi got an architecture design and a feature set for the crypto wallet product, a go-to tech stack for its development, and expert advice on optimal integration patterns with a customer portal, relevant decentralized exchanges and payment systems. Having compared possible approaches to crypto wallet development, ScienceSoft’s experts suggested building the product upon an existing open-source wallet protocol instead of creating it from scratch. Such an approach would help Secure-DeFi significantly reduce development time and cost. The Client also received a step-by-step roadmap for crypto wallet implementation, which comprised a risk mitigation plan and cost and time estimates.
Jeff Cafolla, CMO and Co-Founder at Secure-DeFi, says:
We wanted to build a multi-chain crypto wallet that would let users convert cryptocurrencies without commission. To minimize project-associated risks, we needed to design a clear crypto wallet concept and accurately plan the product implementation. Owing to ScienceSoft’s deep practical experience in blockchain, we turned to them for consulting on the end-to-end crypto wallet development.
ScienceSoft’s team performed a discovery phase to help us define an optimal approach to crypto wallet development. They came up with a go-to architecture, features, and tech stack for our multi-chain wallet, and introduced a detailed roadmap for crypto wallet implementation.
We highly appreciated ScienceSoft’s approach to consulting and their mature project management culture. We decided to continue the cooperation with ScienceSoft and would certainly recommend them as a reliable blockchain tech partner.
Key Outcomes for the Client
- Getting a well-designed crypto wallet product concept and a technical requirements specification in 4 weeks, which was faster than initially planned.
- An opportunity to cut the development project cost over 12x times due to ScienceSoft’s expert advice on the optimal approach to the crypto wallet implementation.
- Ensuring a smooth development process with minimized risks due to a detailed implementation project plan.
Methodologies
Q&A sessions, functional decomposition, business requirements analysis, comparative analysis.
