May 2022 - Winklix - Software Development Blog

May 30, 2022May 30, 2022

Know How to Create a Shopping App?

In the recent trends buyers are opting for Mobile shopping in the category of e-commerce. There are many buyers or customers who prefer shopping through shopping apps on Mobile applications.

Therefore if you want to boom your e-commerce operation, creating a shopping app is the way to go. In this article we shall understand the step by step process to create a shopping app.

How to create a shopping App?

Anyone can create a Shopping app by these 9 simple steps-

Step 1- Market Research for your Online Store

Before thinking of making a mole app, you need to validate your idea with market research. This step will be different for everyone as every business has different requirements. There are generally two categories in which businesses fall-

You are having an existing e commerce business, now you want to make a mobile app
You are starting your business and want a mobile app from day one.

For those who are already running an ecommerce business have already done market research so they must be aware of the market strategies and all.

Whereas businesses which are new and starting their business from scratch must take the market research step very seriously. Otherwise you could invest in the market where customers are least interested.

Identify Customer needs and Requirements

Before starting any business you must do market research properly of what customers require and what not.

Your business technique must be unique from the one who is already in the market. This will atacts your customers towards your business. Therefore you must do market analysis of your nche customers before selling your product.

Business Model

Shopping app typically falls into these three categories-

B2C- Business selling their products directly to the customers
B2B- business selling products to other businesses, sometimes at wholesale.
C2C- Customers selling to other customers through an online marketplace i..e e-bay, Etsy etc.

Monetization Strategy

Next you need to determine how you will earn from the mobile app. Your primary focus must be on sales revenue or you can also charge sellers a fee to use the platform or by taking a commission of each sale in case of C2C businesses.

Step 2- Platform and tech Stack Selection

Once you have done market research before starting your businesses you must choose the platform you want to build i.e. whether you want a shopping app for Android or IOS users.

Native Development

Next you need to decide the shopping app you want to develop for the platform you want. This is the most time consuming path to development and it’s not necessary for basic shopping apps.

Cross platform app development

This is typically the best option for all the shopping apps. This means that the app is developed for both android and IOS users with a single build and codecase. This saves time and money on development.

Step 3- Choose agency or experts for Shopping App development

For preparing a shopping app you need to hire an agency or experts in developing shopping apps for creating your shopping app. You must choose an agency which has proven track records of creating successful apps, which have a good team composition of android developers, ios developer, UX designer, UI designer, project manager, web developer, quality assurance agents etc.

Step 4- Identify Essential Features for your Shopping Application

After hiring the agency you need to identify the fairies you want in your shopping app. Always focus on the bare minimum and essentials required for your app to run smoothly. Of Course you can add features later on. Below are some of the features that you should add in your shopping app-

User Registration and Sign in process
Easy Navigation
User profile Editing
Product Catalogue
In-App smart search engine
User Reviews
Shopping cart
Easy checkout ad payment options
Shipping options
Key Admin panel features for online shopping app

Step 5- Identify Additional Features that help your store stand out

Other than the features mentioned above you can add additional features that go beyond your basic functionality. However it is not important to add these additional features right now but you can opt for it later.here are the fe features hat you can add on later on-

Customer with lists
Ibeacon
Maps
Augmented reality
Machine learning
Social media sharing options
Barcode scanner
Push notifications
Chatbox for improved custom service

These features are not must have for your mobile application but it is nice to have fto attract customers.

Step 6- Create a Mockup of your Online Store App

Mockups are non-functional static designs of an app. This wil help your team to understand the look and feel of your final product.

This will help to establish things such as fonts, visuals, images, contents layouts, colour schemes, and overall user experience from a design standpoint.

Step 7- Begin Mobile Shopping App Development Process

The next step is to begin with the process of shopping app development. Before hiring a development company just make sure to have basic knowledge of the development timeline and a rough idea of when the app will be ready.

Step 8- Test Your Shopping App

Once the app is created, you need to test it for its smooth operation for real users. If there is any bug in the app you need to clear it out. There are different approaches for application testing including alpha testing, Beta testing, user testing and more.

Step 9- Launch your Shopping App

The last step is to auch your shopping app for the real users. For that you will need to get it submitted to the Apple app store and Google play store. Each of these platforms have different requirements for approvals and submissions. So make sure to understand the guidelines thoroughly before submitting.

Conclusion

Shopping apps are superior to mobile websites for earning revenue generations, conversion and customer satisfaction.

If you want to get a shopping app, reach out to our expert team at winklix. We can create a custom shopping app as per your requirements along with the features you want to add. We will assist you with the re-development process and also provide maintenance and updates on post launch of the app.

May 23, 2022May 23, 2022

How to create an NFT Marketplace?

Every day, Internet markets for digital collectibles gain in popularity. If you too want to join the market, you must create your own marketplace. We are already familiar with Blockchain technology, several cryptocurrencies, and the widespread usage of online markets to buy and sell goods.

As a public Blockchain platform, NFT (non-fungible token) is a marketplace that functions as a non-fungible token. In spite of the fact that this platform is not yet completely developed, developers and entrepreneurs are constructing such a marketplace due to its expanding popularity.

This blog explains how to create an NFT marketplace application similar to OpenSea. We have covered all you need to know about the creation of such a market.

What exactly is NFT?

Non-fungible token (NFT) refers to a token that cannot be exchanged or replaced due to its unique features.

It Contains –

Digital Asset – NFT is a digital asset that symbolises Internet assets such as art, music, and games with a certificate of authenticity generated by the blockchain technology underlying Cryptocurrency.

Unique – It cannot be replicated or altered in any way.

On specialised websites, NFT trades are conducted using cryptocurrencies such as Bitcoin.

Cryptopunks is a noteworthy NFT example. It permits the purchase, sale, and storage of 10,000 items with confirmation of ownership.

What exactly is an NFT Market?

It is a platform that facilitates the storage and exchange of NFT or Non-Fungible Tokens. Typically, you may purchase or auction these tokens at a predetermined price. To utilise such a marketplace, you must have a crypto wallet to conduct transactions and store your tokens. OpenSea is a marketplace where NFT artworks may be bought and sold.

A NFT marketplace enables users to create accounts, submit digital artworks, and conduct transactions. In general, niche markets are more popular than conventional ones since they provide everything a customer may want, specialise in selling certain online artworks, and cater to a certain audience.

We have just built and launched AltairNFT, a video NFT marketplace where users may collect and trade NFTs. As NFTs, it offers viewers the highest quality live streaming recorded material and movies from live sports, concerts, and virtual events.

How does an NFT market function?

To utilise a market, you must register and link your cryptocurrency wallet to your account. Next, you must do the following steps:

Create an NFT and provide its desired parameters.

–

List your digital items for sale and wait till moderation is complete.

When auctions occur, buyers place bids.

Following the conclusion of auctions, the marketplace transfers bitcoin and digital goods.

A market for NFTs employs specific transaction protocols called smart contracts. The connections between the vendor and the customer are governed by these protocols. In addition, these smart contracts provide identifying information connected with an NFT. Thus, purchasing and selling tokens becomes user-friendly and easy.

Why are NFTs so prevalent?

OpenSea is among the most significant and well-known NFT art markets. It operates similarly to the eBay application. This marketplace enables users to sell or purchase crypto goods and NFTs in the same manner as an internet marketplace.

Some statistical evidence demonstrates the popularity of NFT marketplaces such as OpenSea. The market capitalization of NFT increased by a factor of 10 between 2018 and 2020. In 2020, NFT markets had a global revenue of $338,04 million.

You may use NFTs to demonstrate ownership of file types such as GIFs, MP3, JPEGs, and much more. In 2021, the sale price of an NFT asset titled Everyday: The First 5000 Days was $69 million. It consists of a collage of artworks.

All of these statistics and analyses demonstrate that the need for NFT markets will increase in the next few years. And the introduction of such a marketplace software guarantees a lucrative Revenue Streaming Model in this age of intense competition.

Top Features for an NFT Marketplace Application

Here are some features that can be added to an NFT marketplace application:

1. A storefront

Typically, a healthy NFT marketplace features a storefront that functions as a dashboard. It offers users with all asset-related information:

Owners

Bids

Previews

Respect history

2. Advanced Token Lookup

It should be simple for consumers to get comprehensive information about things they need immediately. Your NFT marketplace application should have every product grouped by a few attributes (for example, art, images, music, videos, memes). A faster search increases customer happiness.

3. Filter

Utilising filters is quite advantageous. Additionally, it becomes simpler to navigate a website. Add this functionality if you wish to develop an NFT marketplace platform for collectibles. It allows users to freely choose assets according to category, payment method, due date, and listing status.

4. Buy and Sell

A marketplace must let buyers and sellers of NFTs register on the platform. Their bids should contain a bid expiration date and allow them to see the current status of their bids.

5. Develop Listings

Permit customers to build and send digital collectibles. Ensure that little effort is required. Please establish a page where people may upload files and provide the product description in its entirety. Required information includes tags, title, and description.

6. Wallet

Customers should be able to save, transmit, and receive NFTs and cryptocurrencies in a wallet on your NFT marketplace. You may develop your own wallet or integrate wallets like Formatic, Coinbase, or MyEtherWallet into your site.

7. Listing Condition

Listing status is advantageous for suppliers that pass the product authentication procedure. It enables monitoring the status of the confirmation procedure. It aids in doing collectable verification.

8. Positions

It is a feature for newbies who don’t know where to begin, how to rapidly choose things, or how the system works. Checking a person’s rating enables users to determine if a vendor is trustworthy. On an NFT marketplace, users are able to provide ratings and comments based on their experience. It enables others to verify a user’s reliability.

Considerations When Constructing an NFT Market

Consider the following aspects while developing an NFT marketplace application similar to OpenSea:

1. Openness

Your NFT marketplace must be transparent so that users can see all transactions clearly. The Blockchain network ensures an error-free payment process for a streamlined transactional experience.

2. Protection

It is a strong element of an NFT marketplace pertaining to token transactions between traders. The built-in security defends merchants against transaction loss and other superfluous operations.

3. Deconcentration

It enables the duplication and distribution of all information across Blockchain networks. When a new block is introduced, the network adjusts its Blockchain to reflect any modifications.

4. The Profitability Model

This factor should be addressed while developing an NFT marketplace. OpenSea, for instance, does not impose a listing fee. However, the site deducts 2.5% of the product’s cost during sales.

5. Automated Contracts

There is no commission cost required to initiate smart contracts. This may be done by electronically signing the contract to minimise fraud and decrease the number of middlemen.

How to Create an NFT Market?

Consider the following steps if you want to establish an NFT art market for your business:

1. Select a Niche

Selecting a specialised specialisation facilitates the beginning of your NFT market development project. If you have a rough idea, discuss it with developers in order to formulate a plan and estimate the time required to create the marketplace. According to industry professionals, you must pursue a vertical market rather than a broad one.

2.Define the UI/UX Design for Your Project

When creating a marketplace, the UI/UX design is crucial. Your user interface must be easy to use. A good UI/UX improves the platform’s use and provides an appealing appearance and feel.

3. Transition to Front-End Development

If you have a design concept, it is now time to implement it. Choose a trustworthy foundation for your objects. Employ a professional NFT developer to ensure excellent functionality and trustworthiness.

Utilise the Smart Contract Token Generator.

When constructing an NFT marketplace, the back-end development looks different. Since the NFT market is a decentralised platform, the majority of the data undergoes Blockchain verification.

Test and Deployment

It is the most important phase in developing an NFT marketplace application. During this phase, you must identify and eliminate any backlogs. Software testing ensures that the project operates properly.

Post-launch support is also required to eliminate issues and guarantee excellent performance. This phase ensures the app’s reputation and superior functioning.

How much would it cost to establish an NFT marketplace?

The price and length depend on the market’s performance. Developing the NFT art marketplace will cost more money if you want to construct a comprehensive platform.

If you utilise a prefabricated solution, there is no guarantee of security, and the product will be dependent on the platform from which you get the key. In contrast, the cost will be less in this circumstance.

Alternatively, you might employ a software developer to construct a bespoke application for you. Ultimately, the professionals will establish the user flow, develop the functionality, add features, and design the marketplace from scratch. Consequently, the price may climb somewhat more.

Final Reflections

The moment has come to build an NFT marketplace app, given that NFT’s popularity is increasing daily. These markets provide a multitude of valuable features. Turn to an experienced development team to accomplish your project from the ground up.

FAQs Regarding NFT Marketplace Growth

Can an NFT market generate revenue?

The NFT market generates income in two ways. They generate revenue by charging fees and commissions to sell or purchase an NFT. A seller’s fee is subtracted from the final price, whereas a buyer’s charge is added to it.

Also Read : Blockchain & Mobile App Development

What are the most well-known NFT Marketplaces?

There are several prominent NFT markets where digital art and other virtual items may be bought and sold. These include OpenSea, Rarible, SuperRare, Foundation, and Nifty Gateway, among others.

How long would it take to construct an NFT market?

The time required to establish an NFT marketplace is contingent on a number of variables, including the amount of complexity, functionality, platforms, tech stack, etc. Considering these parameters, the duration is around 4–6 months.

May 19, 2022May 19, 2022

What is Ethereum?

Ethereum, a new platform, was created as a result of advancements in Blockchain technology. Ethereum, like Bitcoin, is a decentralised network. Appropriately dubbed Blockchain 2.0, it cleared the way for developers to participate in the blockchain ecosystem. This blog post on “What is Ethereum?” will broaden your understanding of Ethereum.

Ethereum is the second significant breakthrough in Blockchain after Bitcoin.

Bitcoin may be regarded as a digital currency.

Ethereum is a decentralised programming platform for digital currencies.

Although Bitcoin and Ethereum are both driven by distributed ledgers, there are several technical distinctions between the two that I will explain.

What exactly is Ethereum?

Ethereum is an open-source and publicly accessible blockchain-based distributed computing platform enabling the development of decentralised applications.

So, Prior to the development of Ethereum, blockchain applications were confined to a small number of processes. Bitcoin and other cryptocurrencies, for instance, were created only as peer-to-peer digital currency.

Vitalik Buterin envisioned Ethereum as a platform for blockchain-based programme development. To achieve his objective, he modified Bitcoin-like Blockchain technologies and protocols to accommodate purposes other than money issuance. Anyone in the world may connect to the Ethereum blockchain to create software and maintain the network’s current state, thus the name “World Computer.”

Comparison between Bitcoin and Ethereum

While both the Bitcoin and Ethereum networks are driven by distributed ledgers and encryption, there are several technological differences between the two. For instance, transactions on the Ethereum network may include executable code, but data attached to Bitcoin network transactions is often used exclusively for record-keeping. Other distinctions include block time (an ether transaction is verified in seconds, while a bitcoin transaction is validated in minutes) and the underlying algorithms: Bitcoin uses SHA-256, whereas Ethereum use Ethash.

Proof of work (PoW) is a consensus system used by both Bitcoin and Ethereum. It enables the nodes of the respective networks to agree on the status of all information recorded on their blockchains and prevents certain forms of economic assaults.

Proof of stake (PoS) will replace proof of work (PoW) in 2022 as part of Ethereum’s Eth2 upgrade, a collection of interrelated enhancements that will make Ethereum more scalable, secure, and sustainable.

A significant critique of proof of work is that the needed computer capacity is very energy-intensive. Proof of stake replaces computing power with staking, making it less energy-intensive, and transforms miners into validators who stake their bitcoin holdings to activate the capacity to produce new blocks.

Moreover, Bitcoin and Ethereum networks have distinct overarching objectives. Ethereum was designed as a platform to support immutable, programmable contracts and applications through its own currency, while bitcoin was founded as an alternative to national currencies and so strives to be a means of exchange and a store of value.

Also Read : Blockchain wallet ? How do you choose the right one ?

ETH and BTC are both digital currencies, but ether’s main objective is not to establish itself as an alternative monetary system, but rather to enable and monetize the functioning of the Ethereum smart contract and decentralised application (dApp) platform.

Ethereum is another use case for a blockchain that supports the Bitcoin network and should not, ideally, compete with Bitcoin. Ether is now in rivalry with all other cryptocurrencies, particularly from the standpoint of traders, because of its rising popularity. Since its introduction in the middle of 2015, ether has been behind bitcoin in market capitalization rankings of the leading cryptocurrencies throughout the most of its existence.

The popularity of Ethereum’s decentralised applications (dApps) in fields such as banking (decentralised finance, or DeFi apps), arts and collectibles (non-fungible tokens, or NFTs), gaming, and technology is soaring. This has allowed ETH to increase by 510 percent in 2021 (as of November 29, 2021) compared to BTC’s 93 percent increase. In January 2020, ETH’s market value was just around one-tenth of BTC’s, but by November 2021, ETH’s market cap of $528 billion was over half of BTC’s $1.08 trillion.

Smart Contracts and Blockchain

It enables the creation of programmable contracts between peers.

Smart Agreements

A contract that carries out its own enforcement, administration, performance, and payment.

Simply explained, it is a self-executing contract that manages its own enforcement, administration, performance, and payment.

Tokens are required for the execution of smart contracts and for trade. Consequently, Ethereum is essentially insufficient without cryptocurrency. Describe ethereum. -ether icon-epiphany

The cryptocurrency Ethereum

Ethereum is powered by its native coin, which serves two primary objectives.

Payment in Ether is necessary for apps to conduct any action, so that corrupted and malicious software may be contained. Similar to the structure of bitcoin, miners that donate resources to the Ethereum network are compensated with ether. When a contract is performed, Ethereum consumes a currency referred to as ‘gas’ to do the calculations.

Gas in Ethereum

On the Ethereum blockchain, every activity requires the payment of gas.

The gas price is stated in ether and is determined by miners, who might refuse to execute transactions with a price below a particular threshold.

Ethereum gas – what is ethereum?

Ether purchases gasoline to power the E.V.M.

Ethereum Virtual Machine (E.V.M.)

The Ethereum virtual machine is the engine that executes transaction code. EVM permits the creation of possibly thousands of distinct apps on a single platform. Contracts created in a programming language designed for smart contracts are compiled into “bytecode” that an EVM can read and execute.

It truly manages Ethereum’s internal state and computations. EVM may be conceptualised as a massive decentralised computer with millions of objects called “accounts” that can maintain an internal database, run code, and communicate with one another.

With EVM at its core, Ethereum allows the creation of potentially unstoppable thousands of apps.

Blockchain Education

What can be constructed on Ethereum? In any case, Ethereum may be used to create really amazing apps known as DApps.

Distributed Applications (DApps)

DApps are computer programmes that function on a blockchain and enable direct communication between end users and service providers.

It may consist of a single DAO or a collection of DAO that collaborate to form an application.

Using the network’s distributed computer nodes to assist the sharing of this data, a user may need to trade Ether to settle a contract with another user.

What is Being Built on Ethereum?

As Ethereum and other projects have made it easier and faster to write DApps protocols, a number of potentially disruptive DApps have emerged.

Ethereum enables users to construct decentralised groups.

Autonomous Decentralised Organisation (DAO)

DAOs are organisations that operate only on blockchains and are managed by their protocols. It is meant to preserve assets and utilises a voting method to oversee their allocation.

What Applications Will Ethereum Serve?

Decentralisation of Current Services: Ethereum may be used to decentralise existing services. By eliminating middlemen and connecting people directly, this will minimise costs and fees.

A Million Possibilities: Dapps may disrupt a multitude of well-established sectors, including:

Finance, Real estate, Insurance

Considering the technological trends and improvements, it is reasonable to assume that Ethereum’s future as a platform is rather promising. The blockchain community will continue to flourish as long as the industry and developers continue to spend their resources, confidence, and effort in the technology.