San Francisco, CA, May 07, 2024 (GLOBE NEWSWIRE) -- Crypto.com is a leading global cryptocurrency platform with more than 80 million customers worldwide. Its product suite includes the Crypto.com App, the prepaid Crypto.com Visa card, a mobile DeFi wallet for asset management, and much more. Recently, Crypto.com added Degen Arcade to its DeFi wallet, enhancing user experience with easy trading of memecoins and insights into asset balances and on-chain interactions. This feature, aimed at simplifying trading and discovery of trending memecoins, further demonstrates Crypto.com's commitment to user-centric innovation, as well as the challenge of real-time data processing faced by wallet providers.
This article provides an in-depth analysis of the infrastructure requirements essential for maintaining robust wallet systems and meeting real-time demands for user balance and holdings queries, powered by ZettaBlock.
"ZettaBlock's prebuilt APIs have been instrumental for Crypto.com in streamlining real-time balance and price data access, significantly cutting costs and reducing our infrastructure overhead. This solution has not only helped us avoid the challenges of data silos but also enhanced our user experience with its low-latency performance, leading to improved retention and satisfaction." - Terence Chen, Product, DeFi Wallet @ Crypto.com
Degen Arcade – Revolutionizing Memecoin Trading
Serving more than 80 million customers worldwide, Crypto.com's emphasis on high-quality UX hinges on advanced and reliable data infrastructure. The platform faces the critical task of providing real-time data updates and accurate visualizations, both essential in supporting accurate decision-making for users. The Degen Arcade, a hub for memecoin trading, offers a seamless, intuitive experience with fast, reliable data processing. Users can easily monitor portfolios, execute quick transactions, and earn rewards through the DegenScore points system.
The Challenge: Developing an Intuitive, Real-Time Trading Feature
Developing the DeFi wallet's Degen Arcade feature presented Crypto.com with extensive challenges. The key was to ensure data from multiple blockchains was accurately decoded and accessible in real-time. Overcoming the high latency of existing data indexing solutions was crucial to provide users with immediate access to their wallet information. Additionally, integrating data from over 38 chains and more than 4000 tokens, while avoiding data silos and isolation in the Web3 space, proved complex. Creating a scalable, low-latency public-facing API that could grow with the platform's user base and still provide comprehensive, easily understandable metrics was another significant hurdle, involving substantial development and maintenance resources.
The costs of building an in-house solution that would solve the above challenges would be enormous (with an estimate of over $1M) and would require hundreds, if not thousands of development and maintenance hours.
Solution: ZettaBlock’s Robust Infrastructure
ZettaBlock's infrastructure solution plays a pivotal role in enhancing the Crypto.com DeFi wallet, particularly the Degen Arcade. Our scalable and versatile infrastructure ensures easy access to high-quality, reliable data:
- High quality on-chain data for a multiplicity of chains, as well as crucial off-chain data, such as pricing, with the ability to join different data sources.
- Automated data pipelines, meaning there is a zero management effort required to create any pipelines, whilst users still have the flexibility to display various different metrics within the DeFi wallet.
- Out-of-the-box scalable database for storing various generated tables.
- The public-facing API is super-low-latency and can handle high QPS (multiple simultaneous queries ran do not negatively affect the platform), making it very reliable with a high uptime.
Altogether, this solution further enables Crypto.com to grow its ecosystem and assures that users have the best Web3 platform experience.
Conclusion: A New Era in DeFi Trading
The synergy between Crypto.com and ZettaBlock represents a groundbreaking advancement in DeFi trading. By incorporating ZettaBlock's innovative real-time data solutions, Crypto.com has elevated the trading experience with new features like the Degen Arcade, offering improved efficiency and user engagement.
Prebuilt APIs to 10x Speed-Up Your Time to Market
ZettaBlock's suite of Prebuilt APIs, particularly the Price API, plays a crucial role in streamlining the development process for wallet features like Degen Arcade. This API provides developers with instant access to the latest price data for any token, eliminating the need for extensive backend data processing.
By integrating this powerful tool, Crypto.com was able to significantly expedite the development and launch of new features, ensuring that users always have access to the most current and accurate pricing information.
Like what you see? Developers looking to build new wallet applications or streamline their current development processes can leverage our PreBuilt Wallet and Price APIs. Explore how to build your own wallet from scratch with our prebuilt APIs sign up for free access to ZettaBlock here.
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