{"id":2166,"date":"2021-08-31T12:47:24","date_gmt":"2021-08-31T09:47:24","guid":{"rendered":"https:\/\/evercodelab.com\/blog\/?p=2166"},"modified":"2022-07-28T16:48:05","modified_gmt":"2022-07-28T13:48:05","slug":"evercode-labs-expertise-in-crypto-the-ink-and-qtum-example","status":"publish","type":"post","link":"https:\/\/evercodelab.com\/blog\/evercode-labs-expertise-in-crypto-the-ink-and-qtum-example\/","title":{"rendered":"Evercode Lab\u2019s Expertise in Crypto: the INK and QTUM example"},"content":{"rendered":"<p>The team of Evercode Lab is proud of its hands-on experience and theoretical knowledge in everything related to <a href=\"https:\/\/evercodelab.com\/products\/everchain-sdk\/\">cryptocurrency solutions<\/a>. Since 2013, we have delivered enough complex and challenging projects to view ourselves as one of the leading companies in this respect. In this piece, we would like to share one of those success stories indicating our industry leadership and ability to meet the ever-changing requirements and trends. It is a story of how we built an outstanding wallet for the INK tokens based on the QTUM blockchain.<\/p>\n<h2><b>Some Crypto Context\u00a0<\/b><\/h2>\n<p><a href=\"https:\/\/www.investopedia.com\/terms\/q\/qtum.asp\"><span style=\"font-weight: 400;\">QTUM<\/span><\/a><span style=\"font-weight: 400;\"> was <\/span>envisioned back in 2016 and went live in 2017. The key factor behind its existence was the desire to combine the flexible smart contract potential of Etherium with the stability and reliability provided by Bitcoin and its unspent transaction output model (UTXO). The world of next-gen fintech needed this innovation for a very simple reason. Large-scale businesses started to gradually adopt the idea of cryptocurrencies and required a proper platform. A greater level of security was &#8211; and still is &#8211; the top concern related to \u201cadoption of blockchain and digital assets\u201d, according to <a href=\"https:\/\/www2.deloitte.com\/us\/en\/insights\/topics\/understanding-blockchain-potential\/global-blockchain-survey.html\"><span style=\"font-weight: 400;\">Deloitte<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0 <\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">QTUM responded to this challenge with its strong focus on the enterprise level and capability to <\/span><a href=\"https:\/\/capital.com\/qtum-price-prediction-2021-and-beyond\"><span style=\"font-weight: 400;\">effectively handle<\/span><\/a><span style=\"font-weight: 400;\"> smart contracts on the basis of multiple virtual machines. Owing to its decentralized and advanced POS consensus algorithm, it was well-suited for DeFi apps (Defi stands for \u2018decentralized finance\u2019 notable for its \u201c<\/span><a href=\"https:\/\/cointelegraph.com\/news\/defi-boom-leaves-former-altcoin-darlings-in-the-dust-but-for-how-long\"><span style=\"font-weight: 400;\">rapid popularity and investment growth<\/span><\/a><span style=\"font-weight: 400;\">\u201d that has recently outperformed many of the top-10 altcoins). <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Hence, QTUM tried to simultaneously addressed the key drivers compelling companies adopt blockchain, according to <\/span><a href=\"https:\/\/assets.ey.com\/content\/dam\/ey-sites\/ey-com\/en_gl\/topics\/blockchain\/ey-dell-blockchain-opportunity-snapshot.pdf\"><span style=\"font-weight: 400;\">EY<\/span><\/a><span style=\"font-weight: 400;\">: <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">&#8211; Enhanced operational efficiency\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Greater transparency\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Data integrity\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Ability to innovate and experiment with new models to generate revenues and conduct business<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While the <\/span><a href=\"https:\/\/explorer.qtum.org\/\"><span style=\"font-weight: 400;\">QTUM team was mainly focused<\/span><\/a><span style=\"font-weight: 400;\"> on their own cryptocurrency, the platform itself quickly became an entire ecosystem that includes wallets, exchanges, node services, payment systems, dApps, etc. One of the elements that Evercode Lab worked on was the INK tokens.\u00a0<\/span><\/p>\n<h2><b>What is INK?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">INK smart contracts were conceived as a means to revolutionize the global creative industry via a decentralized <\/span><a href=\"https:\/\/qtumeco.io\/dapps\/Ink\"><span style=\"font-weight: 400;\">solution<\/span><\/a><span style=\"font-weight: 400;\"> consisting of:\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Consortium blockchain applicable to use cases in any locality<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Infrastructural base to produce content in a decentralized fashion\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Tokens\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Capability to exchange intellectual property assets\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; A Cross-chain protocol<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To implement such a far-reaching vision, the INK team contacted Evercode Lab.\u00a0<\/span><\/p>\n<h2><b>Evercode Lab\u2019s Response<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">After the QTUM-based INK smart contracts were launched in 2017, Evercode Lab was entrusted with building two wallets for them, both a web-based and an Android-based.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Our team focused on a comprehensive list of priorities to deliver the outcomes in the best possible shape:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; User safety<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Flexibility that would satisfy both blockchain newbies and seasoned users\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Compatibility of the INK wallets with each other<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Availability of INK\u2019s own block explorer<\/span><\/p>\n<p>&nbsp;<\/p>\n<div id=\"attachment_2167\" style=\"width: 730px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-2167\" class=\"wp-image-2167 size-large\" src=\"https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2021\/08\/ink-web-screen.png?resize=720%2C423&#038;ssl=1\" alt=\"\" width=\"720\" height=\"423\" srcset=\"https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2021\/08\/ink-web-screen.png?resize=1200%2C705&amp;ssl=1 1200w, https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2021\/08\/ink-web-screen.png?resize=320%2C188&amp;ssl=1 320w, https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2021\/08\/ink-web-screen.png?resize=768%2C451&amp;ssl=1 768w, https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2021\/08\/ink-web-screen.png?resize=100%2C59&amp;ssl=1 100w, https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2021\/08\/ink-web-screen.png?resize=700%2C411&amp;ssl=1 700w, https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2021\/08\/ink-web-screen.png?w=1262&amp;ssl=1 1262w\" sizes=\"auto, (max-width: 720px) 100vw, 720px\" \/><p id=\"caption-attachment-2167\" class=\"wp-caption-text\"><strong>INK wallet: Web version<\/strong><\/p><\/div>\n<p>&nbsp;<\/p>\n<div id=\"attachment_2168\" style=\"width: 330px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-2168\" class=\"wp-image-2168 size-medium\" src=\"https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2021\/08\/ink-android-screen.png?resize=320%2C640&#038;ssl=1\" alt=\"\" width=\"320\" height=\"640\" srcset=\"https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2021\/08\/ink-android-screen.png?resize=320%2C640&amp;ssl=1 320w, https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2021\/08\/ink-android-screen.png?resize=768%2C1536&amp;ssl=1 768w, https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2021\/08\/ink-android-screen.png?resize=50%2C100&amp;ssl=1 50w, https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2021\/08\/ink-android-screen.png?resize=225%2C450&amp;ssl=1 225w, https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2021\/08\/ink-android-screen.png?resize=600%2C1200&amp;ssl=1 600w, https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2021\/08\/ink-android-screen.png?w=1080&amp;ssl=1 1080w\" sizes=\"auto, (max-width: 320px) 100vw, 320px\" \/><p id=\"caption-attachment-2168\" class=\"wp-caption-text\"><strong>INK wallet: Android version<\/strong><\/p><\/div>\n<p><i><span style=\"font-weight: 400;\">Project duration<\/span><\/i><span style=\"font-weight: 400;\">:<br \/>\none month for the web-based wallet, and 1.5 months for the Android-based\u00a0<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Support and maintenance provided<\/span><\/i><span style=\"font-weight: 400;\">:<br \/>\n1 month<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Web development tech stack<\/span><\/i><span style=\"font-weight: 400;\">:<br \/>\nReact.js, Node.js, Qtumcore-lib<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Mobile development tech stack<\/span><\/i><span style=\"font-weight: 400;\">:<br \/>\nJava, Bitcoinj<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Solution specs:\u00a0<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">First of all, it offers an entire range of protection methods. The wallet itself is protected by a 12-word mnemonic phrase and, alternatively, by a specifically generated file containing an encrypted key. This key is then supported by a password the user sets and enters on their own. In addition, the main screens of the wallet are safeguarded by the pin-code.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Secondly, the wallet is simultaneously easily accessible and comprehensive enough for any group of users, regardless of their experience. On the one hand, its interface is extremely lightweight and even minimalistic, and every important function and field is supplemented with informative tips and hints. As a result, a transaction can be created and performed in three clicks. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the other hand, the system is sophisticated enough to meet the criteria of more experienced users. For example, they can select a block explorer from the available list on their own or even connect a custom explorer.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Finally, the INK wallets delivered for Web and Android are fully compatible. On top of that, the Evercode team crafted a special block explorer functioning with QTUM and all associated smart contracts on the basis of the insight-API. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">With this successfully developed solution, Evercode Lab proved that it was capable of quickly adapting to the changing blockchain landscape and carrying out even the most challenging blockchain tasks quickly.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The team of Evercode Lab is proud of its hands-on experience and theoretical knowledge in everything related to cryptocurrency solutions. Since 2013, we have delivered&#8230;<\/p>\n","protected":false},"author":1,"featured_media":2167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[71],"tags":[85,79,83],"class_list":["post-2166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-blockchain-en","tag-crypto","tag-crypto-wallet"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Evercode Lab\u2019s Expertise in Crypto: the INK and QTUM example &#8211; Evercode Lab Blog<\/title>\n<meta name=\"description\" content=\"The team of Evercode Lab is proud of its hands-on experience and theoretical knowledge in everything related to cryptocurrency solutions. 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