XDR wallet for a crypto company
Solution: Managed Project/Ad-Hoc Resources (web and mobile (Android))
Business Domain: Crypto
Technology and Tools: Ruby on Rails React Native
THE SITUATION Fiapay is an innovative startup that provides users the option to keep their balances in XDR, a basket of traditional currencies designed to lower the risks of crypto currency fluctuation. The company was looking to build a highly secure XDR wallet for enhanced stability and transparency of crypto transactions. They hired 8allocate to provide ad-hoc resources for building and delivering the custom XDR solution. THE SOLUTION We’ve allocated resources to build an XDR wallet for the Client. The project took about 600 hours to develop; 30% of the project time was spent on unit testing. QA took around 200 hours. THE RESULT As a fixed basket of US Dollar, Euro, Pound, Yen, and Yuan, XDR maintains its value even when its individual components hit a turbulent patch. It’s easy to calculate the value of XDR against any currency by multiplying each currency’s weighting within the XDR basket by its respective exchange rate. The mobile app allows users to generate a one-time Bitcoin address and fund it with BTC, or have one of their friends/relatives send them XDR directly, using their email address or mobile number instead of an account number. User can send XDR to anyone with an Android phone, or make a bitcoin payment to anyone with a bitcoin address, right from the app.