Technology:
EXPRESS.JS
,
COSMOS IBC
more
Category:
Blockchain Development & Web3 Solutions
Share Your Requirements
Hire the Best Stellar (XLM) Expert
Leverage the power of Stellar Blockchain for advanced fintech solutions. Our expert Stellar developers build top-notch fintech applications on Stellar's open financial infrastructure. From fast and efficient trading, saving, and spending of digital money to wallet development for complex blockchain-based payment systems, we deliver scalable Stellar solutions. Unlock the potential of Stellar (XLM) with our dedicated Stellar blockchain development services.
View More
Related Skills
Skills Blog Posts
Stablecoin Development with CDP (Collateralized Debt Positions)
A decentralized stablecoin is built through specialized crypto token development services and relies on blockchain technology to issue digital assets pegged to a fixed value, such as $1. Unlike traditional currencies, these stablecoins operate without central authority. One of the most widely used models is Collateralized Debt Positions (CDPs), where smart contracts manage the issuance and liquidation process based on collateral. Partnering with an experienced stablecoin development company ensures these mechanisms are designed for security, transparency, and long-term stability.A CDP is a smart contract that, in exchange for granting a loan in the form of stablecoins, locks up collateral, such as Ether. A CDP's salient characteristics are:Collateral: The user funds a smart contract with a specific quantity of cryptocurrency (such as ETH).Debt: Depending on the value of the supplied collateral, the user borrows stablecoins. The collateral ratio (e.g., 150%) restricts the amount of debt that can be borrowed, thus the borrower is not allowed to withdraw more stablecoins than the collateral value.Collateral Ratio: This is the proportion of money loaned in stablecoins to the amount of collateral needed. The borrower must deposit $1.50 in collateral for every $1 borrowed in stablecoin, for instance, if the collateral ratio is 150%.Liquidation: The system will sell the collateral to pay off the debt and keep the system from slipping into negative equity if the collateral's value drops below a predetermined level, meaning it is no longer sufficient to cover the borrowed debt.Repayment: After repaying the debt, the collateral is returned, and the user can do so by returning the stablecoins they borrowed.Also, Discover | AI-Powered Stablecoin Development | Streamlining StabilityStabelcoin Development with CDP (Collateralized Debt Positions)Setup1. Initialize the Projectnpm init -y2. Install Hardhatnpm install --save-dev hardhat3. Create a Hardhat Projectnpx hardhat4. Install Environment and OpenZeppelin Librariesnpm install dotenv @openzeppelin/contractsYou may also like | Best Blockchain Platforms for Stablecoin DevelopmentIn contracts folder add the following three files:1. Usdc.sol– Mock ERC20 StablecoinThis is a sample ERC20 token acting as a mock USDC, used to mint and burn tokens during borrow/repay operations.// SPDX-License-Identifier: MIT
pragma solidity ^0.8.22;
import "@openzeppelin/contracts/token/ERC20/ERC20.sol";
import "@openzeppelin/contracts/access/Ownable.sol";
contract USDC is ERC20, Ownable {
uint8 private immutable _decimals;
address public minter;
constructor(
string memory name_,
string memory symbol_,
uint8 decimals_,
uint256 initialSupply
) ERC20(name_, symbol_) Ownable(msg.sender) {
_decimals = decimals_;
_mint(msg.sender, initialSupply);
}
function setMinter(address _minter) external onlyOwner {
minter = _minter;
}
function mint(address to, uint256 amount) external {
require(msg.sender == minter, "Only minter can mint");
_mint(to, amount);
}
function burn(address from, uint256 amount) external {
require(msg.sender == minter, "Only minter can burn");
_burn(from, amount);
}
function decimals() public view override returns (uint8) {
return _decimals;
}
}2. Oracle.sol– Mock Oracle ContractThis is a simple oracle contract that returns a hardcoded ETH/USD price. It can be updated by the owner to simulate live price changes.// SPDX-License-Identifier: MIT
pragma solidity ^0.8.0;
contract Oracle {
uint256 public price = 2000 * 1e18; // $2000 per ETH
address public owner;
constructor() {
owner = msg.sender;
}
function setPrice(uint256 _price) external {
require(msg.sender == owner, "Only owner can set price");
price = _price;
}
function getPrice() external view returns (uint256) {
return price;
}
}Also, Check | PayPal Launches its U.S. Dollar Stablecoin PayPal USD (PYUSD)3. CDPVault.sol – Core CDP ContractThis contract manages ETH collateral, allows borrowing and repayment in USDC, and handles liquidation if the collateral ratio is violated.// SPDX-License-Identifier: MIT
pragma solidity ^0.8.22;
import "./Usdc.sol";
import "./Oracle.sol";
contract CDPVault {
USDC public stablecoin;
Oracle public oracle;
uint256 public constant COLLATERAL_RATIO = 150;
uint256 public constant PRECISION = 1e18;
mapping(address => uint256) public collateralETH;
mapping(address => uint256) public debt;
constructor(address _stablecoin, address _oracle) {
stablecoin = USDC(_stablecoin);
oracle = Oracle(_oracle);
}
function depositCollateral() external payable {
require(msg.value > 0, "Must deposit ETH");
collateralETH[msg.sender] += msg.value;
}
function borrow(uint256 amount) external {
require(amount > 0, "Invalid borrow amount");
uint256 ethPrice = oracle.getPrice();
uint256 collateralValue = (collateralETH[msg.sender] * ethPrice) /
PRECISION;
uint256 maxBorrow = (collateralValue * 100) / COLLATERAL_RATIO;
require(debt[msg.sender] + amount <= maxBorrow, "Exceeds borrow limit");
debt[msg.sender] += amount;
stablecoin.mint(msg.sender, amount * 1e18);
}
function repay(uint256 amount) external {
require(debt[msg.sender] >= amount, "Repaying more than owed");
uint256 scaledAmount = amount * 1e18;
stablecoin.transferFrom(msg.sender, address(this), scaledAmount);
stablecoin.burn(address(this), scaledAmount);
debt[msg.sender] -= amount;
}
function withdraw(uint256 amount) external {
require(
amount > 0 && collateralETH[msg.sender] >= amount,
"Invalid amount"
);
uint256 ethPrice = oracle.getPrice();
uint256 newCollateral = collateralETH[msg.sender] - amount;
uint256 newCollateralValue = (newCollateral * ethPrice) / PRECISION;
require(
debt[msg.sender] == 0 ||
(newCollateralValue * 100) / debt[msg.sender] >=
COLLATERAL_RATIO,
"Would become undercollateralized"
);
collateralETH[msg.sender] = newCollateral;
payable(msg.sender).transfer(amount);
}
function liquidate(address user) external {
uint256 ethPrice = oracle.getPrice();
uint256 userCollateral = collateralETH[user];
uint256 userDebt = debt[user];
require(userDebt > 0, "No debt to liquidate");
uint256 collateralValue = (userCollateral * ethPrice) / PRECISION;
uint256 requiredValue = (userDebt * COLLATERAL_RATIO) / 100;
require(collateralValue < requiredValue, "Position is healthy");
uint256 scaledDebt = userDebt * 1e18;
stablecoin.transferFrom(msg.sender, address(this), scaledDebt);
stablecoin.burn(address(this), scaledDebt);
collateralETH[user] = 0;
debt[user] = 0;
payable(msg.sender).transfer(userCollateral);
}
}DeployThis deployment script uses Hardhat to build up all required smart contracts for the CDP system. First, a fictitious USDC token with a 6-decimal precision and a 1,000,000 token initial supply is deployed. A straightforward Oracle contract with a hardcoded ETH price is then deployed. The primary CDPVault contract is then deployed utilising the USDC and Oracle addresses. In order to mint and burn tokens during borrow and repay activities, it lastly configures the CDPVault as the USDC token minter.const hre = require("hardhat");
async function main() {
const [deployer] = await hre.ethers.getSigners();
console.log("Deploying contracts with:", deployer.address);
// Deploy USDC with 6 decimals and 1,000,000 initial supply
const USDC = await hre.ethers.getContractFactory("USDC");
const usdc = await USDC.deploy(
"USD Test Coin",
"USDC",
6,
hre.ethers.parseUnits("1000000", 6)
);
await usdc.waitForDeployment();
console.log("USDC deployed at:", usdc.target);
// Deploy Oracle
const Oracle = await hre.ethers.getContractFactory("Oracle");
const oracle = await Oracle.deploy();
await oracle.waitForDeployment();
console.log("Oracle deployed at:", oracle.target);
// Deploy CDPVault
const CDPVault = await hre.ethers.getContractFactory("CDPVault");
const vault = await CDPVault.deploy(usdc.target, oracle.target);
await vault.waitForDeployment();
console.log("CDPVault deployed at:", vault.target);
// Set vault as the minter
const tx = await usdc.setMinter(vault.target);
await tx.wait();
console.log("Vault set as minter on USDC");
}
main().catch((error) => {
console.error(error);
process.exitCode = 1;
});To deploy the contracts on the Sepolia test network, you can run the following command:npx hardhat run scripts/deploy.js --network sepoliaThe USDC token, Oracle, and CDPVault contracts will be deployed on Sepolia by the script when you execute this command. After that, the CDPVault will be designated as the USDC token minter. Following a successful deployment, the console will display the deployed contract addresses and the deployer's wallet address for your testing and engagement.Also, Discover | The Ultimate Guide to Stablecoin Development 2025 EditionConclusionThis post describes how to use Hardhat to create a basic decentralised stablecoin system. The implementation of a CDPVault contract, a simple price oracle, and a mock USDC token has resulted in a functional prototype that replicates the process of ETH deposits, stablecoin borrowings, and collateralised debt positions. A more reliable DeFi application can be built upon this base with well-defined deployment procedures and a testable configuration on the Sepolia network. If you are planning to build and launch a stablecoin using CDP, connect with our skilled blockchain developers to get started.
Mudit Singh
30 Apr 2025
Should Your Business Accept Cryptocurrencies as Payments?
Cryptocurrencies like Bitcoin have been around for quite some time now. However, they have not become as popular as they were expected to be. The acceptance of cryptocurrencies has seen slow growth over the years.Some businesses do accept cryptocurrencies as payment. In this blog, we will discuss whether your business should accept it or not. We will see all the pros and cons of cryptocurrencies. Based on the discussion, you should take a call on whether to accept cryptocurrencies as payment or not. For more related to crypto, visit our cryptocurrency development services.So, let's get started!What is Cryptocurrency?Cryptocurrency is a form of currency that exists digitally or virtually and makes use of cryptography to provide security to transactions. It does not have a central regulating authority but relies on a decentralized system.Cryptocurrency is a peer-to-peer system that enables sending and receiving payments. It is not physical money that is exchanged in the real world but exists only as digital entries. When cryptocurrency funds are transferred, they are recorded in a public ledger as transactions. It is called cryptocurrency because it uses encryption to verify transactions for safety and security.Bitcoin was the first cryptocurrency launched in 2009 and remains the most popular one.Now that you have a good idea about cryptocurrencies, let's dive deeper.Pros of Accepting CryptocurrencyIn order to decide whether your business should accept cryptocurrency or not, you should know the pros and cons of using cryptocurrency. Let's have a look at the pros first.1. Speed & SecurityThe speed and security offered by cryptocurrencies are unmatched at present. Cryptocurrency transactions are processed within minutes with a high level of security, provided by blockchain technology. This reduces the risk of fraud and increases overall customer satisfaction.2. Bigger Customer BaseAccepting cryptocurrencies can expand your customer base. Some tech-savvy customers prefer using cryptocurrencies to buy products or services. Most of these customers are early adopters or younger individuals who are likely to be repeat customers and offer word-of-mouth publicity.3. Less Transaction FeesTraditional payment methods, such as card gateways, typically charge transaction fees between 2-4%. Cryptocurrency transaction fees can be as low as 0.2%, saving customers a significant amount of money.4. TransparencyCryptocurrency is built on blockchain technology, which records every transaction on an immutable public ledger. This ensures that all transactions are verifiable, reducing the chances of manipulation.5. Global AccessCryptocurrencies transcend geographical boundaries, enabling businesses to receive payments from anywhere in the world. This eliminates delays associated with cross-border transactions.6. DecentralizationCryptocurrency operates on a decentralized system, meaning no central authority controls it. This structure reduces the risk of manipulation, enhances reliability, and empowers businesses with greater autonomy over transactions.7. Potential for Value AppreciationCryptocurrency values can appreciate over time. For example, Bitcoin's value rose from around $400 in 2016 to $73,000 in 2024, showcasing its growth potential. Cryptocurrencies can serve as both a transaction medium and an investment.8. PrivacyCryptocurrency transactions allow users to send or receive payments without revealing personal information, offering a level of privacy that traditional payment methods lack.9. Round-the-Clock AvailabilityCryptocurrency payments can be made 24/7, unlike traditional payment systems, which may have downtime. This is especially beneficial for global businesses with time-sensitive financial transactions.10. Increasing AcceptanceMore businesses are integrating cryptocurrencies into their payment systems. With growing public awareness and understanding, cryptocurrency adoption is expected to increase.Also, Explore | A Quick Guide to Understanding Crypto Payment GatewayCons of Accepting CryptocurrenciesWhile cryptocurrencies offer numerous advantages, they also have some drawbacks. Let's explore the cons.1. No Regulatory MechanismCryptocurrencies lack a fixed regulatory authority, and their rules vary across regions. This creates confusion, especially regarding taxation and payment laws.2. VolatilityCryptocurrency values are highly volatile. While Bitcoin's value has risen significantly, there is also the risk of depreciation, making businesses cautious about holding them.3. Environmental ImpactThe computational power required for cryptocurrencies like Bitcoin consumes a significant amount of electricity, negatively impacting the environment compared to traditional payment methods.4. No Universal AcceptanceCryptocurrencies are not yet universally accepted and remain unrecognized in many countries. Businesses may prefer traditional currencies to avoid associated risks.5. Fraud RiskCryptocurrencies are attractive to fraudsters and hackers. There have been numerous instances of financial losses due to hacking. Businesses need stringent security measures to mitigate risks.You may also like to discover | Blockchain for Cross-Border Payments | A Detailed GuideFor businesses considering crypto adoption, understanding key tools is crucial. Check out this Crypto Exchange Platform Development Guide for insights on building secure platforms, and learn about crypto burner wallets for managing short-term, secure transactions.Wrapping UpCryptocurrencies have been around since 2009 but are still not widely used globally. However, they have the potential to become a mainstream payment method. Governments need to collaborate and develop a comprehensive framework for their regulation.After examining the pros and cons, you are now better equipped to decide whether to accept cryptocurrencies in your business transactions. Consider all factors carefully before making a decision.If you are looking for cryptocurrency development, blockchain development, or other fintech application development, get in touch with Oodles Blockchain.Author BioVictor Ortiz is a Content Marketer with GoodFirms. He enjoys reading and blogging about technology-related topics and is passionate about traveling, exploring new places, and listening to music.
Technology:
OAUTH
,
STELLAR (XLM)
more
Category:
Blockchain Development & Web3 Solutions
Mudit Kumar
27 Jan 2025
How to Build a Solana Sniper Bot
How to Build a Solana Sniper Bot (Complete Guide with Code)Introduction to Solana Sniper BotsSolana is widely used for building decentralized applications due to its high transaction throughput, low fees, and fast finality. These features make it a suitable platform for real-time, automation-driven tools like Solana sniper bots, crypto sniper bots, and Solana dex bots.A Solana sniper bot is designed to monitor the blockchain and automatically execute token purchases the moment liquidity is added to a decentralized exchange (DEX). This is especially valuable during new token launches or other time-sensitive events, where timing can significantly impact outcomes.This guide provides a step-by-step walkthrough for building a Solana token sniping tool, with a focus on Raydium's CLMM (Concentrated Liquidity Market Maker) pools. It covers key setup steps, core logic, and best practices for handling transactions efficiently and securely.Understanding the BasicsWhat is a sniper bot on Solana?A sniper bot on Solana is a tool that automatically buys tokens as soon as they become available on a decentralized exchange (DEX), such as Raydium, PumpFun, Jupiter, or Orca.To build a robust sniper bot, you need to understand Solana's ecosystem, including its RPC (Remote Procedure Call) API, smart contracts (also known as programs), and key technical components such as transactions and signatures.Key Variants of Solana trading bots.Solana sniper bot code: Custom-built scripts that developers can run using Node.js and Solana Web3 libraries.Pumpfun sniper bot: Specifically designed to snipe tokens the moment they go live on Pumpfun.Raydium sniper bot: Targets liquidity events on Raydium's AMM or CLMM pools.Solana liquidity sniper: Monitors all liquidity events across the chain, not tied to a specific platform.Solana memecoin bot: Optimized for fast-entry trades on low-cap meme tokens.Solana trading bot: Broader than sniping, it handles full buy/sell logic, often including stop-loss and take-profit setups.Why Use Sniper Bots on SolanaIf you've ever tried to manually buy a newly launched token on Solana, you know how fast things move by the time you've clicked "confirm", the price may have already pumped or the liquidity is gone. Sniper bots solve that.They monitor the blockchain in real time and execute a trade the instant liquidity is added to a token. No hesitation. No manual steps. This gives you a massive edge in early-stage opportunities like token launches, meme coin listings, or NFT-associated tokens.Solana is especially suited for sniper bots because of its high throughput, sub-second finality, and near-zero transaction fees. You can scan logs, catch pool creation events, and trigger swaps within milliseconds without breaking the bank.Whether you're a solo trader, bot developer, or automating a crypto strategy, sniper bots give you precision timing in a market where seconds mean everything.Common Use CasesToken LaunchesSay a new meme coin drops on PumpFun. Within seconds of liquidity being added, prices can jump 2x or more. A sniper bot lets you detect the pool creation and buy before the masses.Early-Stage SpeculationSome traders monitor wallets of known devs or influencers. If a known wallet creates a pool, the bot buys immediately, before the token appears on aggregators like Birdeye or Dexscreener.Community Alpha PlaysYou're in a private alpha group. Someone posts a contract address. Your bot is hooked to Telegram or Discord and instantly buys based on that input.Low Liquidity MonitoringSometimes devs quietly add small liquidity to test their token. A bot can watch for this pattern like pools created with just 0.5 SOL and get in before announcements go live.Re-entry on RelaunchesIf a token rug pulls and relaunches, some bots monitor the same dev wallet or reuse of token metadata. They auto-buy the "second chance" version before hype catches upRisks & Legal ConsiderationsSniper bots give you speed, but they come with serious technical and legal risks.Rug Pulls & HoneypotsMany tokens launched on Solana DEXs are scams. Some prevent selling after buying (honeypots). Others drain liquidity right after launch. Without proper filters, your bot becomes easy prey.False PositivesBots can misfire on low-liquidity or bait pools. If your logic isn't strict,checking metadata, LP amount, token supply - you'll waste funds or get stuck in illiquid tokens.Front-RunningCompeting bots are monitoring the same logs. Your transaction might get front-run or stuck in a failed block. You need good RPCs, retries, and priority fee strategies.Wallet Drain RisksStoring private keys in.env files on a VPS without protection? That's asking for trouble. A single server compromise can drain your wallet.Legal Grey AreasDepending on your country, automated trading, especially around token launches might fall into regulatory gray zones. Some jurisdictions treat this as front-running or market manipulation.Treat your sniper bot as a serious software considering all the legal aspects.PrerequisitesBefore starting, make sure you have the following in place:Development Environment: Install Node.js, npm, and the Solana CLI.Solana Wallet: Create a wallet using Phantom, Sollet, or any compatible wallet.RPC Endpoint: Get access to a Solana RPC endpoint to communicate with the blockchain.Basic Knowledge of JavaScript: The bot will be written in JavaScript, so some familiarity is needed.You may also like |How to Build a Grid Trading Bot | A Step-by-Step GuideStep 1: Setting Up the ProjectStart by creating a new Node.js project:mkdir solana-sniper-bot
cd solana-sniper-bot
npm init -yThen, install the necessary packages:npm i @raydium-io/raydium-sdk-v2 @solana/web3.js axios bn.js bs58Step 2: Setting Up Environment VariablesCreate a.env file in the project root to store sensitive information, such as your private key and RPC endpoint:PRIVATE_KEY=your_private_key_here
SOL_RPC=https://api.mainnet-beta.solana.comStep 3: Create the CLMM Pool ListenerThis script listens to the Raydium CLMM program logs and detects when a new pool is created.// index.js
import {
Raydium,
PoolUtils,
TxVersion,
} from '@raydium-io/raydium-sdk-v2'
import {
Connection,
PublicKey,
Keypair,
} from '@solana/web3.js'
import bs58 from 'bs58'
import BN from 'bn.js'
import 'dotenv/config'
// === CONFIG ===
const RPC_URL = process.env.SOL_RPC
const secretKey = bs58.decode(process.env.PRIVATE_KEY)
const wallet = Keypair.fromSecretKey(secretKey)
const connection = new Connection(RPC_URL, { commitment: 'confirmed' })
const SOL_MINT = 'So11111111111111111111111111111111111111112'
const CLMM_PROGRAM_ID = 'CAMMCzo5YL8w4VFF8KVHrK22GGUsp5VTaW7grrKgrWqK'
const BUY_AMOUNT_SOL = 0.01
const SLIPPAGE = 0.03Also, Read |Understanding the Impact of AI Crypto Trading BotsStep 4: Create the Buy Function (Auto Swap)async function buyWithClmm(poolId, tokenMint) {
const raydium = await Raydium.load({ connection, owner: wallet })
const Pooldata = await raydium.clmm.getPoolInfoFromRpc(poolId)
const poolInfo = Pooldata.poolInfo
const poolKeys = Pooldata.poolKeys
const clmmPoolInfo = Pooldata.computePoolInfo
const tickCache = Pooldata.tickData
const baseIn = tokenMint === poolInfo.mintA.address
const inputAmount = new BN(Math.floor(BUY_AMOUNT_SOL * 1e9))
const { minAmountOut, remainingAccounts } = PoolUtils.computeAmountOutFormat({
poolInfo: clmmPoolInfo,
tickArrayCache: tickCache[poolId],
amountIn: inputAmount,
tokenOut: poolInfo[baseIn ? 'mintB' : 'mintA'],
slippage: SLIPPAGE,
epochInfo: await raydium.fetchEpochInfo(),
})
const { execute, transaction } = await raydium.clmm.swap({
poolInfo,
poolKeys,
inputMint: poolInfo[baseIn ? 'mintA' : 'mintB'].address,
amountIn: inputAmount,
amountOutMin: minAmountOut.amount.raw,
observationId: clmmPoolInfo.observationId,
ownerInfo: { useSOLBalance: true },
remainingAccounts,
txVersion: TxVersion.V0,
})
console.log('📠Transaction prepared. Executing swap...', transaction)
const { txId } = await execute()
console.log(`✅ Swap executed: https://explorer.solana.com/tx/${txId}`)
}Step 5: Listen for New Pools and Trigger Swaplet isProcessing = false;
async function listenForNewPools() {
console.log('🚀 Listening for new Raydium CLMM pools...')
connection.onLogs(
new PublicKey(CLMM_PROGRAM_ID),
async (logInfo) => {
if (isProcessing) return
isProcessing = true
try {
const { signature, logs } = logInfo
if (!logs.some(log => log.includes('CreatePool'))) {
isProcessing = false
return
}
const tx = await connection.getParsedTransaction(signature, {
maxSupportedTransactionVersion: 0,
})
if (!tx) {
isProcessing = false
return
}
for (const ix of tx.transaction.message.instructions) {
if (
ix.programId?.toBase58?.() === CLMM_PROGRAM_ID &&
ix.accounts?.length >= 5
) {
const accounts = ix.accounts.map((a) => a.toBase58())
const tokenA = accounts[3]
const tokenB = accounts[4]
const poolId = accounts[0]
let targetMint = null
if (tokenA === SOL_MINT) targetMint = tokenB
else if (tokenB === SOL_MINT) targetMint = tokenA
else {
console.log('⌠Skipping non-SOL pair')
continue
}
console.log('🆕 New CLMM pool found! Token:', targetMint)
await buyWithClmm(poolId, targetMint)
break
}
}
} catch (err) {
console.warn('âš ï¸ Error:', err.message)
}
isProcessing = false
},
'confirmed'
)
}
listenForNewPools()For further reference, explore theRaydium SDK V2 Demo.Step 6: Testing the BotBefore deploying your bot on the mainnet, it's crucial to test it thoroughly on Solana's devnet. Modify your.env file to use the devnet RPC endpoint:SOL_RPC=https://api.devnet.solana.comAlso, Explore |How To Create My Scalping Bot UsingNode.jsStep 7: Deployment and SecurityOnce the bot is ready, deploy it to a secure server:Use a VPS to ensure the bot runs continuously with minimal downtime.Secure Your Private Key: Always use environment variables or a secure vault service to store sensitive information.Real-World OptimizationsOnce your sniper bot is functional, it's not ready yet. Real-world trading on Solana is messy. You're racing against other bots, navigating scam tokens, and reacting to volatile conditions. This section covers the essential optimizations to make your bot safer, smarter, and more reliable.Filtering Bad Tokens (Pre-Buy Checks)Minimum Liquidity ThresholdAvoid pools with low initial liquidity. Rugs often launch with under 1 SOL to bait bots. Set a minimum liquidity requirement before proceeding with any buy logic.if (poolLiquidityInSol < 1) return;Token Metadata ValidationCheck that the token has a valid symbol, name, and decimal count. Tokens with missing or weird metadata are red flags.if (!tokenMeta.symbol || tokenMeta.symbol.length > 10) return;Token BlacklistMaintain a list of known scam tokens or deployers and skip them instantly.if (BLACKLIST.includes(targetMint)) return;Optional: Simulate Swap or Check RouteUsesimulateTransaction() to preview the swap or query a route via Jupiter. If it fails or no route exists, don't buy.Delay-Based Decision MakingIntroduce a short delay (e.g., 2–5 seconds) after pool creation. This gives time to detect sketchy behavior like immediate liquidity removal or fake metadata updates.Using Multiple RPCs (Failover Strategy)RPC List ConfigurationSet up a list of RPC endpoints (e.g., Helius, Triton, QuickNode). Load them from.env or config file.const RPCS = [RPC1, RPC2, RPC3];Retry and Fallback MechanismIf one RPC fails, retry with another. Rotate through the list to maintain uptime and reduce failure points.for (const rpc of RPCS) {
try {
const conn = new Connection(rpc);
// test or send tx
break;
} catch (err) {
continue;
}
}Logging and MonitoringEvent LoggingLog what matters: detected pools, attempted buys, successful swaps, token details.console.log(`[POOL] ${poolId} | Token: ${tokenMint}`);Error TrackingUsetry/catch around every major async operation and log failures with stack traces.console.error(`[ERROR] ${err.message}`);Optional IntegrationUse tools like:PM2 to auto-restart the bot on crashWinston for structured loggingCloud services like Logtail or Datadog for remote log collectionOptional: Sell Logic and Exit StrategyTake-Profit ThresholdSet a target percentage (e.g., 2x from entry) and auto-sell when the token reaches that price.if (currentPrice >= buyPrice * 2) {
await sell();
}Stop-Loss SetupProtect your downside. If price drops below a defined floor, exit.if (currentPrice <= buyPrice * 0.7) {
await sell();
}Time-Based ExitsIf the price doesn't move after a certain duration (e.g., 3 minutes), exit anyway to avoid being stuck.Future ExtensionsRe-entry after dipsMulti-wallet rotation for stealthDiscord/Telegram alert triggersToken sell simulation before actual sellThese optimizations turn your bot from a proof-of-concept into something stable and reliable in real conditions. You don't need them all on day one—but without them, you're flying blind.Troubleshooting & Common ErrorsBuilding a sniper bot is one part logic, one part infrastructure. Once you go live, unexpected failures are common. Here's what usually goes wrong—and how to fix it without guessing:Bot doesn't detect new poolsIf the bot isn't picking up events, double-check you're subscribed to the correct program ID (e.g. Raydium CLMM). Also verify you're using theconfirmed orfinalized commitment level—notprocessed, which can miss orphans.Transaction isn't sent or gets stuckThis typically means your RPC is rate-limited or too slow. Use a premium provider (Helius, Triton, QuickNode) and avoid free shared endpoints. Also, wrap yoursendTransaction logic with retry and timeout handling.Buy transaction fails or revertsMost often caused by too-tight slippage, incorrect token metadata, or race conditions where the pool state changes before execution. Validate slippage settings and simulate trades with mock inputs before going live.Private key or wallet errorsIf the script throws on wallet load, your key may be malformed or improperly encoded. Ensure it's base58 and single-line (no[] or extra JSON formatting). Load it usingbs58.decode() and test it with a small transfer.Bought tokens but can't sellThis is likely a honeypot. To avoid it, always validate:Token has a valid symbol and nameSufficient liquidity (avoid pools under 1 SOL)No known blacklist flags or scam patternsThe bot crashes randomlyUsetry/catch blocks around all async calls—especially in listeners. Log every error. Run the bot with a process manager like PM2 or Docker health checks so it auto-restarts on failures.Logs show “CreatePool” but no buy happensCheck if yourisProcessing flag is stuck or the transaction failed silently. Add more detailed logging per step, and track execution time for each transaction to find where it stalls.Official Solana & Raydium DocsSolana Developer Docs – Core concepts, transaction structure, RPC methods, and program architecture.Solana Cookbook – Developer-friendly guides for common Solana tasks.Raydium SDK v2 – Reference for CLMM pool interaction, swap logic, and liquidity provisioning.ConclusionBuilding a sniper bot on Solana requires a solid grasp of how the blockchain works, especially its transaction model, smart contract architecture (programs), and RPC interactions. This guide walked through each step: from setting up the environment, listening to liquidity events, executing token swaps, and handling real-time conditions.Before moving to mainnet, it's essential to thoroughly test your bot on devnet. This helps catch logic errors, slippage issues, or RPC failures without risking real assets. Always secure your wallet keys and credentials using proper secret management practices.With proper filtering, real-time logging, and infrastructure improvements, this bot can become a reliable component in automated crypto trading workflows. Whether you're experimenting, building trading tools, or exploring automation at scale, Solana provides the speed and flexibility needed to execute on-chain trades with minimal delay.
Technology:
SMART CONTRACT
,
NEST JS
more
Category:
Blockchain Development & Web3 Solutions
Ankit Mishra
23 Aug 2024
Stellar Launches Smart Contracts: Soroban Now Live on Mainnet
The Stellar Development Foundation (SDF) announced the successful activation of Protocol 20, a significant upgrade for the Stellar (XLM) blockchain network. This upgrade marks the official launch of Soroban smart contracts on the Stellar mainnet. It significantly impacts Stellar blockchain development services.
In a blog post, the SDF declared that the vote by Stellar network validators to upgrade the mainnet to Protocol 20 ushered in a new era for Soroban.
They described Soroban as a secure "battery-included" developer experience designed for scalability and real-world applications.
This launch is a major milestone for Stellar, a payments network aiming to expand its capabilities as cryptocurrency adoption surges globally. The Protocol 20 upgrade was initially scheduled for January 30th, but a discovered bug prompted validators to postpone activation, as reported by Invezz. The SDF subsequently announced a phased activation beginning on February 20th.
Stellar had previously hinted at Protocol 20's imminent arrival in September. It highlights its role in enabling Soroban smart contracts on the network. The SDF further explained that the phased approach would allow validators and other network participants to monitor the impact of smart contract functionality on the network, ensuring optimal performance, security, and stability throughout the process.
You may also like | Understanding Soroban | Stellar Smart Contract Platform
What are Smart Contracts, and Why are they Important for Stellar?
Smart contracts are self-executing agreements stored on a blockchain network. They eliminate the need for intermediaries, streamline processes, and minimize the risk of errors or manipulation. With the introduction of Soroban smart contracts, Stellar gains a significant advantage, allowing developers to build a wider range of decentralized applications (dApps) on the network. These dApps could encompass anything from decentralized finance (DeFi) protocols to prediction markets and tokenized assets.
Soroban's Impact on Creators and Users
The arrival of Soroban empowers both creators and users within the Stellar ecosystem. Creators can leverage smart contracts for automated royalty distribution, guaranteeing they receive fair compensation for their work. Thanks to smart contracts automating tedious tasks within dApps, users can expect a more streamlined experience.
Also, Check | Idris Elba's Stellar Journey Towards Human Empowerment
Focus on Usability, Security, and Scalability
Soroban prioritizes usability and scalability, making it a valuable addition to the Stellar ecosystem. Here are some key features that distinguish Soroban:
WebAssembly (WASM) Compatibility
Soroban utilizes WASM, a widely adopted code format. This allows developers to build on Stellar by leveraging their existing skillsets and tools.
Security First
Security remains paramount for Stellar. Soroban is built with robust security measures to guarantee the safety of user funds and applications.
Discover | Exploring Stellar Blockchain in Cross-Border Payments
Looking Ahead: A Thriving Ecosystem for dApps
The launch of Soroban on the mainnet represents only the beginning of a new chapter. The SDF's dedication to fostering a vibrant, smart contract ecosystem is evident in its $100 million Soroban adoption fund. This fund actively supports developers building innovative dApps on Stellar, sending a strong signal of their commitment to growth.
Conclusion
The evolution of the Stellar ecosystem with Soroban signifies the potential for a wider range of dApps and potentially new ways to interact with the network. This is exciting news for developers, creators, and anyone interested in exploring the possibilities of blockchain technology. The arrival of smart contracts on Stellar marks a new chapter in decentralized innovation.
Don't miss out on the opportunities presented by Soroban smart contracts on the Stellar network. Collaborate with Oodles Blockchain to unlock new possibilities, streamline processes, and harness the full potential of blockchain technology. Reach out to our blockchain developers today and embark on a journey of decentralized innovation.
Technology:
SMART CONTRACT
,
STELLAR (XLM)
more
Category:
Blockchain Development & Web3 Solutions
Mudit Kumar
24 May 2024
Polygon zkEVM | For Efficient Scalability of Your dApp
In the ever-evolving landscape of blockchain technology, scalability has long been a central challenge. As the demand for decentralized applications (DApps) and smart contracts continues to surge, platforms are continually seeking innovative solutions to address the limitations of existing scaling solutions. One such groundbreaking advancement is zkEVM development on Polygon blockchain, a cutting-edge technology that promises to revolutionize scalability on the Ethereum network.Understanding the Need for ScalingBlockchain networks, particularly Ethereum, have faced persistent challenges related to scalability. The increasing adoption of decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and other blockchain-based services has led to network congestion, higher transaction fees, and slower confirmation times. Recognizing the urgency of addressing these issues, Polygon has introduced zkEVM to provide a scalable and efficient solution.Also, Read | How Polygon AggLayer Emerges to be the Hub for Ethereum L2sWhat is Polygon zkEVMPolygon zkEVM, short for zero-knowledge Ethereum Virtual Machine, is a layer 2 scaling solution built on zero-knowledge rollups technology. It leverages zk-rollups to enable faster and cheaper transactions while maintaining the security and decentralization of the Ethereum mainnet. This innovation allows developers to seamlessly port their Ethereum-based applications to the Polygon network, unlocking a new era of efficiency. Also, Check | Polygon Blockchain (Matic) | A Comprehensive GuideKey Features of Polygon zkEVM:ScalabilitySignificantly reduces transaction fees and confirmation timesEnables the processing of thousands of transactions per second, addressing Ethereum's current throughput limitationsInteroperabilityMaintains compatibility with existing Ethereum smart contracts, facilitating a seamless transition for developersAllows users to move assets between the Ethereum mainnet and Polygon zkEVM with ease.SecurityPreserves the security guarantees of the Ethereum mainnet by utilizing zero-knowledge proofsEmploys cryptographic techniques to ensure the integrity and privacy of transactions.DecentralizationRetains the decentralized nature of the Ethereum network, with validators participating in the consensus process through the use of zero-knowledge proofsUser-Friendly ExperienceProvides a smooth and familiar development environment for Ethereum developers, making it easier to onboard existing projects onto Polygon zkEVMOffers users a seamless and cost-effective experience, enhancing the overall usability of decentralized applications.Also, Explore | Polygon 2.0 | Unifying Liquidity and BeyondUse Cases and ApplicationsPolygon zkEVM opens the door to a myriad of possibilities for developers and users alike. Some potential use cases include:DeFi ApplicationsEfficient and low-cost trading, lending, and borrowing on decentralized finance platformsNFT MarketplacesFaster and more affordable transactions for buying, selling, and trading non-fungible tokens on NFT marketplacesGamingScalable and cost-effective in-game transactions, item transfers, and other gaming-related activities.Supply Chain and LogisticsEnhanced efficiency and reduced costs for tracking and verifying supply chain transactionsYou may also like | Polygon Blockchain Explained | A Detailed LookConclusionPolygon zkEVM represents a significant milestone in the quest for blockchain scalability. By combining the familiarity of Ethereum with the efficiency of zero-knowledge rollups, Polygon has positioned itself at the forefront of the scaling solutions race. As developers and users increasingly embrace this technology, the broader blockchain ecosystem stands to benefit from a more scalable, interoperable, and user-friendly future. As we witness the continued evolution of blockchain technology, Polygon zkEVM stands tall as a testament to the industry's commitment to overcoming challenges and pushing the boundaries of what is possible in decentralized innovation. If you are looking to leverage the potential of zk-proofs, hire our blockchain developers to get started.
Technology:
WEB.PY
,
TYPE SCRIPT
more
Category:
Blockchain Development & Web3 Solutions
Mudit Kumar
31 Dec 2023
Exploring Stellar Blockchain in Cross-Border Payments
With the increase in people migrating to different countries, the number of cross-border payments has increased. According to the World Bank, about $630 billion was sent in remittances to low- and middle-income nations in 2022. It is expected that the value of cross-border payments to reach over $250 trillion by 2027. However, hefty fees, averaging 7-8% (and up to 15% for developing economies), and prolonged processing times persist through various intermediaries. Here, Stellar blockchain can be used as a solution with its high-speed and low-cost transactions. In this article, we explore how Stellar blockchain development services can solve various challenges in cross-border payments.Challenges with Traditional Cross-Border TransactionsMost international money transfers pass through the SWIFT (Society for Worldwide Interbank Financial Telecommunication) system. SWIFT ensures the safety of financial transactions among its members by transferring detailed instructions, rather than transferring money itself, from the paying bank to the receiving bank. Even after five decades in operation, SWIFT remains slow and costly. International money transfers heavily rely on SWIFT as an intermediary, incurring fees that elevate transaction costs. Consequently, it may take 3-5 business days for funds to reach the recipient. Stellar blockchain aims to establish a faster alternative, circumventing these delays and expenses. Suggested Read |Addressing Challenges of Cross-Border Payments with BlockchainUnderstanding Stellar for Cross-Border PaymentsStellar is an open-source blockchain that enables international payments. Its native digital currency is Lumen (XLM), which enables users to set up their account and transaction processing within the Stellar network. Created to minimize cross-border payment barriers, Stellar aims to promote financial inclusion and establish a new global payment standard. You May Also Like |Exploring Stellar Blockchain for Fintech SolutionsBuilt-In Features of StellarLet us understand the built-in features of Stellar:Speed: Stellar ensures swift confirmation of transactions, typically within five seconds, offering an efficient environment for financial operationsCost: Stellar performs transactions with negligible transaction fees, averaging just over .000002 XLM per transaction.Scalability: The network is capable of processing up to 1000 transactions per second (t/s), rivaling the volume managed by SWIFT. Since its inception in 2015, the network has impressively handled over 13 billion operations.Also, Explore | Understanding Soroban | Stellar Smart Contract PlatformHow Stellar Simplify Global Payments Without IntermediariesStellar establishes a seamless, blockchain-powered payment infrastructure and collaborates with local partners known as anchors. These anchors serve as entry and exit points for various global currencies on the Stellar network. Much like SWIFT, Stellar employs a standardized protocol. The network ensures consistent communication among all participants. Businesses using Stellar can transfer traditional currency to an anchor, which then facilitates a streamlined conversion to the recipient's local currency. This converted value is smoothly delivered through a local anchor in the recipient's region. This entire process eliminates the necessity for intermediary banks. Both the service provider and the buyer can conduct transactions in their respective local currencies. Essentially, Stellar transforms the complex processes of international wire transfers and currency conversion by integrating them into a single, direct pathway. Check It Out | Ripple and Stellar Blockchain Solutions in BankingWhat Does Stellar Offer in Cross-border PaymentsHere are the use cases of Stellar in the payment sector:RemittancesStellar facilitates seamless transactions between individuals. It ensures swift coverage of everyday expenses.Global PayrollStellar's platform allows for payroll distribution in local currencies without imposing minimum transaction requirements. It enables businesses to pay employees globally more efficiently.Treasury ManagementStellar manages liquidity in operating accounts without pre-funding them. It provides better financial agility and effective treasury management for organizations using Stellar's network.Also, Check | Stellar Launches Smart Contracts: Soroban Now Live on MainnetBusiness InvoicingEmploying Stellar, enterprises can issue invoices to suppliers and other businesses without the need for pre-funding accounts. This simplifies and expedites the invoicing process.Merchant SettlementIt expedites payouts and effortlessly converts funds back to a single operating currency for seamless merchant settlements.Social PayoutsStellar facilitates the issuance of partial or full payments for grants, aid, and government services. It ensures a streamlined process for social payouts.Enterprise PayoutsStellar improves the efficiency of enterprise-level payments. With Stellar, businesses can easily reconcile corporate payouts without the need for pre-funding accounts. Also, Discover |Idris Elba's Stellar Journey Towards Human EmpowermentConclusionThe financial ecosystem must adopt Stellar-based blockchain solutions to revolutionize cross-border payments. Embracing this approach will enhance security, minimize risks, and elevate international transactions to new heights with secure, real-time, and cost-effective transfers. If you are interested in tapping into the potential of the Stellar network, then connect with our blockchain developers to get started.
Technology:
MEAN
,
PYTHON
more
Category:
Blockchain Development & Web3 Solutions
Dimple Dasila
16 Dec 2023
Idris Elba's Stellar Journey Towards Human Empowerment
Idris Elba, a well-known British actor and filmmaker, told about his journey with Stellar Blockchain in an interview with Cointelegraph. The actor has partnered with Stellar Development Foundation to provide Stellar blockchain solutions to financial inclusion problems in West Africa. Idris Elba's involvement in this collaboration began when he was featured in a promotional video by the Stellar Blockchain Development Foundation, contributing to their 'Where Blockchain Meets the Real World' campaign.
Tracing the Personal Journey
Idris Elba reflects on his diverse background. He talked about how his voice was never heard while growing up. Now, he has a platform where can amplify the voices of those with immense talent but limited opportunities. The actor wants to utilize his influence to advocate for those without a voice.
You may also like | Exploring Stellar Blockchain in Cross-Border Payments
Stellar Blockchain Partnership
Idris Elba shares that after a year of conversations, the Stellar platform stood out during a pivotal moment in the blockchain and NFT explosion. Stellar's focus on solution-driven efforts caught his attention. He found their approach resonating with his vision and offers significant potential for impactful ideas.
The actor remained curious about the technology, specifically about the way crypto's technical plumbing. Stellar welcomed him with open arms. The blockchain platform offered incentives and comprehensive education from the ground up.
Suggested Read | Stellar Blockchain Use Cases | A Quick Explainer
Financial Accessibility and Inclusivity
Idris Elba also shared his point of view on financial accessibility and inclusivity achieved by a community. The actor sheds light on the challenges in Africa, noting the vast expanse of land and the lack of infrastructure familiar to the West.
Despite differences in lifestyle, he emphasizes the innovative potential within these communities. He highlighted the absence of adequate tools for expression and articulation among bright minds.
Elba underlines the importance of connectivity by comparing it with owning a mobile phone. He stated that while everyone should have access, it doesn't require a modern city lifestyle.
The actor expressed optimism about Stellar's role in providing tools akin to technological building blocks. He believes that the technology has transformative potential in enabling individuals to create solutions tailored to their needs and aspirations.
Check It Out | Exploring Stellar Blockchain for Fintech Solutions
Personal Anecdotes and Stories
Elba recounts a memorable experience in Kenya, where farmers harnessed the power of technology amid the climate crisis. These farmers innovatively utilized Google Maps and weather systems to predict rainfall. They leveraged the app's geographical features for climate-proofing their livelihoods.
He underlines the remarkable invention within communities and emphasizes how tools commonplace, like those in our phones, are transformative. Elba admires their resourcefulness and draws attention to the contrast between common phone usage and the impactful, inventive use by individuals securing food sustainability for their families.
Also, Discover |Building Next-Gen Fintech Solutions with Stellar Blockchain
The collaboration of Idris Elba and Stellar Development Foundation unfolds a promising journey toward a more accessible, empowered, and interconnected world. If you are also interested in exploring Stellar blockchain's full potential, connect with our team of dedicated developers.
Technology:
MEAN
,
PYTHON
more
Category:
Blockchain Development & Web3 Solutions
Dimple Dasila
08 Dec 2023
Developing a Secure and Efficient Crypto Wallet App
Crypto wallets enable users to buy, sell, lend, and keep records of their portfolios in cryptocurrency. Cryptocurrency wallet development ensures the creation of a piece of software in which transaction records of users are stored including how many coins they own.
Most cryptocurrency wallets except Bitcoin and Ether, are the two most common digital currencies. Nonetheless, several wallets also support several cryptocurrencies, including an increasing number of altcoins.
Now we'll go through the most key aspects that every successful crypto wallet app needs in this post. We sorted features into different categories.
Develop Your Crypto Wallet App | Features
Like with all applications, the creation of crypto wallets starts with a heavy dose of preparation. Before you type in a single line of code, you must consider every aspect of your company.
Also, read | Cryptocurrency Wallet Development | Securing Your Crypto Assets
Here are the categories to take into account, and some basic tips for each.
Security Features
It should not go without saying that the top priority for any development firm should be security. Nothing else counts without the capacity to keep the coins secure.
Crypto security in conventional banking apps has some security similarities and some of these features would be familiar if you've used one of those.
Some are unique to the blockchain security world but equally significant.
Two-Factor Authentication
The simple truth about passwords is, that they're not enough anymore.
You need to gate access to the wallet via two-factor or multifactor authentication, either using one of the existing apps, a text message, or your system.
Although many current crypto-users are unlikely to use weak passwords, the currency is booming. It won't be long before crypto includes lay users, and they'll need security.
Also, read | Custodial Vs Non-Custodial Crypto Wallets: Getting Into Details
Timed Logout
Another functionality that safeguards laymen than power users, timed logout is still key to any effective cryptocurrency wallet application. Much like the banking websites, users should be signed out automatically after a short inactivity time, or if the system is locked.
There is no industry-wide best practice until logging out for the duration of time, but five minutes of inactivity is normal.
Client-side Private Key
There is no valid justification for a third-party server to store its private key for the users.
No matter what speed improvements or usability enhancements you may be able to achieve, avoid the temptation by storing private keys outside of the device. Remember to make the protection of consumer funds a priority. Most importantly, your wallet software can be trusted as a means to access cryptos safely. Through holding the server-side private key, the only thing you 're accomplishing is to open yourself up to hacks, and therefore to litigation. There's no chance you'll lose it by holding the private key locally on the user's computer.
Deny Repeat Payments
While a crypto wallet is not a bank, some of the same security features should still be provided. If you have used any modern bank, you're likely familiar with credit or debit card fraud warnings. Spend in a new location or an unusual amount, and you receive a text or call from the bank requesting confirmation of the transaction. Say no, and you refuse the charge, as plain as that. Such forms of advanced analytics may be out of access for many wallet development budgets on cryptocurrency, but you can easily introduce a crypto-specific edition. Any successful wallet application can create a new wallet address for each transaction. If someone tries to get coins twice in the same address, there's a good chance they 're up to no good at all.
Also, read | Securing Cryptocurrency Transactions and Assets with Multisig Crypto Wallets
Usability Features of a crypto Wallet App
The next most critical piece of a crypto-wallet device after security is usability.
Also known as quality-of-life features, this applies to everything that makes your app an enjoyable, easy, and, above all, fast experience.
Robust Backups
One of the first things every user would want to do in case a computer is hacked or lost is a remote wipe. By initiating the wallet backups, you will make the operation much less painful.
The safest backup would be to the user's device or a deleted SD card, but it's far more convenient to add protected cloud storage apps such as Dropbox or Google Drive.
Solid UI
When creating a high-tech application such as a crypto wallet, it's easy to forget that in the end, you're making an application. Niceties like an appealing look, smooth function-to-function instructions, and a strong support file are more important than they would seem. There are several in-depth guides for best practices in the production of UIs out there. Make sure you don't make mistakes that differentiate your app in a bad way.
Also, read | Making Secure Online Payments with Blockchain-Based Crypto Wallets
Push Notifications
Push notifications are another feature common to conventional banking applications and are a must-have for any new mobile device.
Users want to know when their coins are going to happen. It makes sense to put the details upfront, whether it's a request for payment, a good sale into fiat, or major shifts in coin prices. Also, enable users to personalize their notifications for extra points. They might want to ask, for instance, whether the USD to BTC conversion rate reaches a certain high or low level. You may also be innovative and offer features like geo-locating nearby shops that embrace crypto, or online vendor deals.
Just make sure to have granular control of what alerts are being sent, otherwise, you risk alienating users.
Smart QR Scanner
Many crypto transactions in person still occur via QR code.
The wallet addresses are long and complicated and it's slow and awkward to ask people to type them. And every application for the crypto wallet requires a QR scanner. A lot of devices just have three scanners. One for public keys, one for payment requests, and one for private keys.
For example, a user goes to the "Send Coins" page and then scans the code for the address of its recipient. You will make the lives of your users much easier by incorporating some reasoning into the app to distinguish between the various places QR codes lead.
If an app checks a public key, then it must open the page to submit money. When it scans a particular payment request then automatically adds that detail to the list. When a private key is checked then open an option to sweep the account. It enables you to simplify the interface quite a bit by putting the interface with a big, prominent "Scan Code" button.
For a one-size-fits-all scanner, users may go there to address all their crypto needs.
Also, read | A Guide to Essentials for Feature-Rich Cryptocurrency Wallet Development
Outsource | Crypto Wallet App Development
If you plan to develop your crypto wallet, you'll need to find something else.
Who can code you all of this? Outsourcing the heavy concept of lifting and coding to a team that has done it before you spend years cutting off the development cycle.
Oodles has over a decade of success in all types of crypto applications.By using the best of offshore talent, we're doing so at a bargain price.
Technology:
ETHEREUM (ETH)
,
ETHERJS
more
Category:
Blockchain Development & Web3 Solutions
Mudit Kumar
17 Jul 2020
Streamlining Cross-Border Payments with Blockchain
The global payments sector is error-prone and costly. Cases of money laundering are also common. Besides, it takes days to initiate international transfers of money in addition to limited visibility to transactions. Blockchain development services are changing this paradigm of global payments industries. The technology lays the foundation for low-cost, reliable, and fast peer-to-peer transactions.
Based on the McKinsey & Company report, cross-border payments solely cover 40% of global payments transactional revenues with payment flows of more than $135 trillion in 2016. In the future, the digital revolution is going to take over the payments arena in the long run. In this situation, banks would need to minimize the back-office costs for international payments by 90% percent according to reports.
Conventional money transfers such as Moneygram and WorldPay are also being used to transfer money overseas. The fees involved in these platforms to transfer money are similar to what banks charge. Also, the speed for transferring money is low (five to six business days).
Therefore, several companies are exploring ways to use blockchain to reduce cross-border costs and speed up transactions. With Blockchain, the cost of cross-border payments will decrease and customers will have improved transparency over the transactions.
How Blockchain Revamps Cross-border Payments
Blockchain can eliminate these issues and change the way cross-border payments are done. It is faster and provides greater visibility between two parties at a lower cost. A person in a blockchain network can see every single entry into the ledger of transactions. It provides privacy as well since the transaction details are shared among all parties who are participating in it.
Also, a high level of security is available because it forms an immutable ledger of transactions. Since transaction records are tamper-proof, Blockchain eliminates concerns about fraud.
All the manual processes involved in the work of cross-border payments are time-consuming and prone to mistakes. Blockchain can automate transactions via smart contracts. Actions can be described and performed by “smart contracts,” which make sure that all parties are abiding by the rules and which automate (and therefore expedite) transactions. Hence, blockchain makes the operations involved in international payment faster and more cost-effective.
Industry Players Adopting Blockchain for Cross-Border Payments
SWIFT
At the start of the year 2017, SWIFT launched a Proof-Of-concept(POC) to explore whether the distributed ledger technology can be used by banks to improve the management of the Nostro database in real-time, lower costs, and operational risk. As a part of SWIFT's global payments innovation (GPI) initiative, it aims to deliver a new standard in cross-border payments. 22 global banks collaborated with SWIFT's GPI in 2017 to test the PoC DLT (Blockchain) application.
WYRE
It is a cross-border payments organization based in San Francisco that professes itself as the fastest international money transfer platform in the industry. The platform helps businesses to make cross-border payments efficiently by offering faster and cost-effective services.
RIPPLE
It is a blockchain-enabled platform that offers financial settlement solutions across borders, which enables banks to do transactions directly with each other and lower the costs of settlements. Ripple is constantly diversifying its services in the banking sector. For instance, at the end of June, Thailand's Siam Commercial Bank and Japan's SBI Remit collaborated to launch the first blockchain-enabled payment service using Ripple's blockchain.
Using blockchain to build cross-border payments contains immense potential in eradicating several pain points of stakeholders. However, before venturing into this relatively new and complex tech space, due diligence is a must. Connect with our skilled blockchain developers to get started with building cross-border payment solutions.
Technology:
ReactJS
,
Web3.js
more
Category:
Blockchain Development & Web3 Solutions
Mudit Kumar
06 Apr 2018