- Home
- Companies
- Prolitus Technologies Pvt Ltd
- Services
- DeFi - Wallet Development Services
DeFi - Wallet Development Services
Leverage our DeFi wallet development services to give back your customers gateway to non-custodial wallet that comes with enhanced security, private keys and assures complete control of cryptos. Businesses using our wallet development services can help their customers enjoy complete freedom, transparency, security and accessibility.
Decentralized finance is an interesting development from the last few years in the crypto space. A secure, non-custodial DeFi wallet is critical for businesses to carry out efficient and hassle-free operations of DeFi protocols such as borrowing, exchanging tokens, swapping and providing liquidity. DeFi is an independent system and permissionless and hence business users require a secure, impregnable and safe wallet. By developing DeFi wallet solutions with help from Prolitus, your business customers can get access to a protected crypto wallet that would guarantee protection of crypto assets and coins with provision of enhanced security features and total control of cryptos. At Prolitus, we provide top notch Defi wallet development services designed by expert blockchain developers. Learn more about how the launch of non-custodial DeFi wallets with help from our expert developers can prove to be beneficial for your business customers to gain high returns on investments in the blockchain space. Request for a demo today!
And the most prominent benefit of Decentralized Finance is, of course, obliterating the need of intermediaries. This ensures high transparency in transactions along with a sense of security, which wouldn’t have been the case alongside a mediator. With the use of respective keys, users have high control over their transactions. These transactions are then tamper-free and immutable. As a DeFi development company, Prolitus is glad to guide you through the whole process and working of Decentralized Finance. We have all the DeFi development services an average Joe would require, and then some. We have a proven record of serving the most comprehensive DeFi solutions across the industry, thanks to the years of experience our skilled team brings to the table. On that note, our team has expertise in blockchain protocols, non-fungible tokens development, wallet integration, smart contract development, et al. We’re all about accelerating your business with the help of effective DeFi development services and our proven record of working with numerous clients over the past years is a testament to the same.
Cryptocurrency wallets are becoming a highly popular way to store your crypto funds, but there are several risks associated with these wallets. With so much centralized power in one point, there is an increased risk for failure or downtime from attacks on the infrastructure that supports it all. Centralized wallets are associated with the following risks:
-
Increased danger of identity theft due to a single point for failure.
-
Users stand vulnerable for the centralized structure of storage if hackers get into their accounts or system breaches occur at any time.
-
Risks the downtime on infrastructure because businesses rely heavily upon it.
DeFi ecosystems would not be able to sustain without the DeFi wallets as they are the ultimate asset management tool for businesses. The centralized system compels users to depend on traditional financial institutions such as banks or custodial wallets to store their funds. However, these third-parties were not always immune to security breaches. DeFi wallets do not hand over the custody of funds in the hands of third-parties, thereby offering complete freedom, transparency and accessibility. Businesses can conveniently perform many activities like buying, selling or tokens, token exchange, trading, lending or so on. It is a revolutionary concept since so far people have relied on banks to handle an individual’s funds entirely.
Most DeFi wallets are built on the Ethereum blockchain and hence support ERC-20, ERC- 721 and ETH tokens. DeFi wallets are more attractive to businesses as they do not require too much personal and background information. Hence, personal identity of users of your business is never at stake, thus making DeFi wallets the safest options to handle crypto assets. At Prolitus, we provide DeFi protocol users with a protected wallet and much more. Our top-of-the-line DeFi wallet development services built by professionals and an experienced team of developers are sure to bring on good returns on investments for your business.
Decentralized finance concept allows users to have full custody over their funds, which is not entitled in the traditional financing systems. Banks and central authorities provide limited custody over funds to users. Here is a comparison chart between DeFi wallet and traditional crypto wallets
- Due to decentralized trust, a user is the custodian of their funds.
- Users have access to the private keys
- There is no KYC required for making optimum use of the DeFi wallets
- Integration possible with all DeFi platforms
- All asset based and protocol-based currencies supported by it
- Trust is centralized and hence the product owner is the custodian
- Product owner owns the private keys
- KYC is mandatory
- Integration with all DeFi platforms may or may not be possible
- Protocol- based currencies may or may not find any support
Web wallets
These types of wallets can be used only with private keys and be recovered only using seed phrases. A popular example would be Metamask, which provides users a portal to various DeFi applications like Compound, Aave, and Yearn. Finance. These wallets are equipped to support ETH and Ethereum based tokens like ERC20 and ERC721. The discernible drawback however is that the wallet provider cannot be relied on in instances of misplacing the private keys.
Hardware wallets
Unlike the digital wallets, this type of wallet is on a hardware device. Users can deposit huge amounts of assets in these wallets and the private keys are well protected against hackers. A distinguishing feature of this wallet is that it allows a user to set up a separate account connected to a hardware device.
Mobile wallets
Since users are the sole custodians of their funds, it is built with a new smart contract on Ethereum that is controlled by users. There is a provision of social recovery set up where trusted associates of this form of wallet user can give approval to initiate recovery.
Defi dashboards
Such wallets provide users the option to see and analyze their consolidated portfolio all at the same, single spot. The USP of these wallets is that they facilitate other wallets to be connected to it to initiate financial transactions or use it to view one’s portfolio.