SAN FRANCISCO, Calif., May 7, 2024 (Globe Newswire) — Crypto.com is the world's leading cryptocurrency platform with more than 80 million customers worldwide. Its product suite includes the Crypto.com app, a prepaid Crypto.com Visa card, a mobile DeFi wallet for asset management, and more. Recently, Crypto.com added Degen Arcade to his DeFi wallet to improve user experience with easy trading of meme coins and insights into asset balances and on-chain interactions. The feature aims to simplify trading and discovery of trending meme coins and further demonstrates Crypto.com's commitment to user-centric innovation and the real-time data processing challenges faced by wallet providers. I am.
This article leverages ZettaBlock to provide a detailed analysis of the infrastructure requirements essential to maintaining a robust wallet system and meeting real-time demands for user balance and holdings queries.
“ZettaBlock’s pre-built APIs helped Crypto.com streamline real-time balance and price data access, significantly lower costs, and reduce infrastructure overhead. It not only helps avoid these challenges, but also improves the user experience. Low-latency performance leads to increased retention and satisfaction.” – Terence Chen, Products, DeFi Wallets @ Crypto.com
Degen Arcade – Revolutionizing meme coin trading
Serving more than 80 million customers worldwide, Crypto.com focuses on high-quality UX based on an advanced and reliable data infrastructure. This platform faces the important task of providing real-time data updates and accurate visualization. Both of these are essential to supporting accurate decision making by users. Degen Arcade, the memecoin trading hub, provides a seamless and intuitive experience with fast and reliable data processing. Users can easily monitor their portfolios, execute fast trades, and earn rewards through the DegenScore points system.
Challenge: Developing intuitive real-time trading functionality
The development of the Degen Arcade feature for DeFi wallets presented a wide range of challenges for Crypto.com. The key was to ensure that data from multiple blockchains could be accurately decoded and accessed in real-time. To give users instant access to their wallet information, it was important to overcome the high latency of existing data indexing solutions. Additionally, integrating data from over 38 chains and over 4,000 tokens while avoiding data silos and isolation in the Web3 space proved complex. Creating a scalable, low-latency public API that can grow with the platform's user base and provide comprehensive, easy-to-understand metrics was also a major hurdle that required significant development and maintenance resources.
The cost of building an in-house solution to solve the above challenges would be significant (estimated at over $1 million) and would require hundreds, if not thousands, of hours of development and maintenance.
Solution: ZettaBlock’s Robust Infrastructure
ZettaBlock’s infrastructure solutions play a pivotal role in powering Crypto.com DeFi wallets, especially Degen Arcade. Our scalable and versatile infrastructure gives you easy access to high-quality, reliable data.
- High quality on-chain data The ability to combine different data sources supports multiple chains as well as important off-chain data such as prices.
- automated data pipelines, This means that creating a pipeline requires zero administrative effort, yet users have the flexibility to view different metrics within their DeFi wallet.
- Ready-to-use, scalable database Save the various generated tables.
- of Public API has ultra-low latency and can handle high QPS (running multiple concurrent queries has no negative impact on the platform), and is highly uptime and very reliable.
Overall, this solution allows Crypto.com to further grow its ecosystem and ensures users have the best Web3 platform experience.
Conclusion: A new era of DeFi trading
The synergy between Crypto.com and ZettaBlock represents a breakthrough in DeFi trading. By incorporating ZettaBlock's innovative real-time data solution, Crypto.com has improved its trading experience with new features such as Degen Arcade, resulting in increased efficiency and user engagement.
Pre-built APIs reduce time to market by 10x
ZettaBlock’s pre-built API suite, especially the Price API, plays a key role in streamlining the development process for wallet features like Degen Arcade. This API gives developers 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 has significantly accelerated the development and release of new features, ensuring users always have access to the most up-to-date and accurate pricing information.
Like what you see? Developers looking to build new wallet applications or streamline their current development process can take advantage of the PreBuilt Wallet API and Price API. To learn how to build your own wallet from scratch using pre-built APIs, sign up for free access to ZettaBlock here.
Join us in shaping the future of DeFi!
