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Check out our case studies

Check out our case studies

Check out our case studies

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Read on to learn more about this ranking and what it means for Cheesecake Labs. 

A top choice for nearshore development

For us, one of the most exciting affirmations of the Clutch positioning is that it further evidences Cheesecake Labs’ authority for nearshore development. We’ve always been proud of our nearshore development offer — partnering with companies across the world, but still within the same or similar time zones. But now we’ve got the title of top web app development company in Latin America to support our own beliefs!

Cheesecake Labs can provide quality and timely service to our partners (and future partners!) across those time zones close to Latin America — North America, Europe, etc. — as well as in the country itself. Businesses can partner with Cheesecake Labs knowing that they’re going to get the best of the best when it comes to software design and development services. 

Web app development company in Latin America: how Clutch ranks companies

To understand why this is such an honor, it’s important to look at how Clutch ranks companies. Below are the criteria that Cheesecake Labs and its competitors were judged on before being granted this ranking. 

Ability to deliver

The first metric used to determine Clutch’s ranking is a business’s ability to deliver. This metric is divided into three different segments, which you can see broken down below. 

References and reviews

Understandably, the most heavily-weighted metric that Clutch considers when ranking a company is the references and reviews that a business receives. This is firsthand experience that customers have with that company, making it incredibly valuable data. 

Clutch considers factors such as how likely a customer is to recommend a business to their colleagues, how happy they are with their service, and the quality of the deliverables received. 

Clients and experience

Next, Clutch looks to the clients and experiences of clients with a particular business. They consider how satisfied clients are as well as how the business delivers on complex project demands. 

This is done by interviewing past and present clients and reading through case studies from the company. You can check out Cheesecake Labs’ use cases here.

Market presence

Clutch then looks at the market presence of the business. They want to know how clear the marketing information is, how positive the opinion of the company is, whether or not they’ve received any accolades, if they have a social media presence, and so on. 

Our blog — jam-packed full of information to help clients understand our development approach and learn the fundamentals — is available to read anytime. 

Areas of focus

The second metric used to determine a Clutch ranking is areas of focus. There are one to three areas of focus per company, with each being evaluated with quantitative data. 

A Clutch analyst will comb through this data and plot it on a matrix, at which point it is compared to the data of other businesses competing for the ranking. It’s a time-consuming and meticulous process — and one that requires careful consideration. 

This makes this metric particularly competitive and therefore an even more impressive win for the entire team here at Cheesecake Labs. 

Feedback from our amazing customers

“Cheesecake Labs’ talent is impressive. Their resources are all based in Brazil, and working with Brazilian developers has been a new experience for me. Their work ethic has been unmatched. On top of that, they’re highly educated and serve as experts in the field.”

“I’m based in Switzerland, so collaborating with someone across the Atlantic Ocean isn’t easy when it comes to development. However, the team at Cheesecake Labs is impressively well-connected on different communication systems like Slack, Jira, and video conferences. There were no issues. I was miles away, but it felt like their friendly team was sitting in the same room.”

Thank you for being a part of what makes Cheesecake Labs great!

As proud as we are to be recognized as the best web app development company in Latin America, we couldn’t have done it without all of the wonderful customers, partners, and clients that make Cheesecake Labs what it is. Thank you for your support — you can look forward to more great service from the team as we grow bigger and better as a digital partner.

The post Cheesecake Labs: #1 web app development company in Latin America appeared first on Cheesecake Labs.

Clutch is the authority for assessing software design and engineering companies. They evaluated over 24,000 organizations on a combination of client reviews, past work, market presence, and specialization before naming Cheesecake Labs on its top seven leaders list.

This recognition belongs to our team of over one hundred strategists, designers, engineers, and project managers. They’re the driving force behind our ability to build delightful digital products.

Top 7 mobile app development company: a history of excellence

Since 2013 we’ve built incredible mobile apps — with some even more incredible clients. We’ve collaborated with our partners to build more than two hundred successful tech products solving real-world problems and driving growth for startups and well known enterprises.

When our clients’ ideas combine with Cheesecake Labs expertise, something magical happens. We’ve brought innovative technologies to life ranging from intelligent rewards platforms for mobile gamers, to Europe’s first helicopter booking site and blockchain banking solution.

The last few years have brought new challenges to every business. More apps have been developed in a shorter timeframe than ever before to accommodate the world’s new ways of working. Our process, speed and efficiency have helped our clients release their app in time to make a difference for their customers.

Proud partners for great apps

Happy clients help boost a Clutch score. Here’s what just a small selection of our past customers have said about working with Cheesecake Labs, the top 7 mobile app development company.

“Cheesecake Labs has been a valuable partner to us. They’ve guided us through the journey, and the team has been proactive — this is truly important for a company like ours. As first-timers in the IoT world, we’re glad that they approach the project from our perspective. They consider what we don’t know and our challenges, and then they anticipate issues and find solutions for us.” – Nan Jiang, VP, Bemis Manufacturing Company

“Everyone we worked with at Cheesecake was very enjoyable to interact with, and always asked for our input on key design and functionality decisions without being overbearing. Their UI work was very impressive, and they made several great improvements to the functionality that we hadn’t even thought to ask for” – CEO, Retail Investor Platform

Amazing apps on exciting technologies

To be the top 7 mobile app development company, Cheesecake Labs uses the right technologies, SDKs, frameworks, and platforms to make your application successful on every device it needs to reach.

If you’re sprinting to deliver an app for iPhone users and need an iOS native app, our developers speak fluent iOS. If your target is a device-agnostic app for Android phones, then our team of Android experts can’t wait to dig their teeth into it. Over the past 9 years, we’ve done it all, and we’re looking forward to the next challenge.

Just look at the pioneering mobile apps we’ve built like Faced which provides Facial Recognition Payment (FRP) systems. We developed and validated the innovative technology using appropriate SDKs ensuring it could run on iOS as smoothly as it ran on Android.

Our comfort with frameworks like React Native and Flutter means we can move swiftly from design through development without having to build everything from scratch. We already use the best-in-class tools. It’s another benefit of dealing with a dedicated mobile app development team.

“I found Cheesecake Labs through Google and hired them after interviewing multiple companies. They were one of the touted companies that had Flutter development as one of their core competencies… Cheesecake Labs’ talent is impressive. … Their work ethic has been unmatched. On top of that, they’re highly educated and serve as experts in the field.” – Collin Goodwin, CTO, Volo Real Estate

Are you ready to join us?

It’s wonderful here in the top ten, and there’s nothing stopping you from joining us. Whether your idea could streamline your organization’s existing workflows, take advantage of AI, or be the next big thing in Web 3.0, Cheesecake Labs is your technical partner to make your mobile app a reality sooner than you think.

Write us a message or give us a call at (415) 766 8860. One of our consultants will contact you within 24 hours or less.

The post Cheesecake Labs: Top 7 mobile app development company worldwide appeared first on Cheesecake Labs.

So how do we cook up the best Cheesecake leaders? Here’s our secret recipe for success. 

Why focus on leadership development?

So glad you asked! All of our “Cakers” live by the Cheesecake Labs values: 

• Take ownership and be responsible
• Respect people and embrace differences
• Collaborate and help others grow
• Deliver a WOOOW service

And we believe that the best way to live up to these values is through personal and professional development. That’s why we have several leadership development initiatives to give each Caker the support they need and help each leader become the best leaders they can be. 

What does leadership look like at Cheesecake Labs?

Leadership starts with hiring. We look for naturally curious, self-aware people when we’re hiring new Cakers (something we’ve done a lot of in the last few years as we’ve grown to 100 Cakers!). We believe that self-awareness is key to becoming a good leader. After all, you need to be able to manage and lead yourself before you can confidently lead others. 

And we find this self-awareness also helps create a cohesive team. Before the pandemic, we were a tight-knit team working together in an office. But we’ve had to adapt to remote working just like the rest of the world. And now, Cheesecake Labs is a remote-first company, letting everyone live their best work-from-anywhere life. Transitioning our team to fully remote working wasn’t easy, but we’re proud to say that we’ve managed to not only survive but thrive out of the office. And that’s large because of our agile culture that highlights transparency and accountability. 

Leaders at Cheesecake Labs focus on building bonds between team members and creating a welcoming, safe work environment. As Guilherme Rodrigues learned in our leadership acceleration program, “Mistakes aren’t mistakes, they’re lessons. And with the emphasis on ‘learning by doing’ I get to take all the advice I’m hearing and put it into practice immediately.”

That’s a motto we live by — mistakes aren’t failures. They’re valuable learning opportunities. And creating an environment where people feel safe to make mistakes is essential to everyone’s success. 

Every voice is heard

But just because some team members have titles like “Tech Lead” doesn’t mean that they’re the only leaders in the company. Every Caker is a leader in their own way. And our culture of feedback and communication is essential for fostering and maintaining a company where everyone has a say. Sure, senior leaders give feedback to more junior Cakers, but the batter flows both ways! Anyone can give feedback to anyone at Cheesecake Labs. 

And each month, we do an Employee Net Promoter Score where we check in with each Caker to see how they’re feeling in their job, any concerns they have, and any feedback they’d like to offer up. We’re not just looking to create “bosses”. Instead, at Cheesecake Labs, we want to develop humanity leaders. Our leaders listen to the people they work with, not just for the sake of the business but for everyone’s happiness and wellbeing. 

Autonomy is key

While you can go to the store and buy a cheesecake, no sweat, sometimes it’s better to put in the extra effort and make one from scratch. The same can be said for leadership development. Every leader in our program doesn’t just learn how to assign tasks and projects — they do them as well. 

We truly believe that this is the best way to create confident and compassionate leaders. Leadership isn’t just about managing people from a distance. It’s about empathizing with your team — knowing how it felt when you were in their shoes, knowing what help and support you would need, and offering up that support to them. 

Strategy, culture, and connection

As we’ve learned through remote working, leaders are essential. Because we don’t all see each other in the office anymore, our leaders must act as the main point of contact between their teams and the company and between team members. Each Cheesecake leader serves as a central hub, connecting everyone they work with to the company strategy, culture, and values. 

And this connection makes it possible for Cakers to keep up with the break-neck speed of the projects we take on. Everything we do moves fast, and it’s up to our team leaders to make sure nobody gets left behind. Leaders listen to and support their teams whenever needed and have regular meetings and check-ins to ensure everyone is on the same page. 

Keeping the wheel of cheese rolling along

Everything we do at Cheesecake Labs is a push and pull process. And training leaders is no exception. As much as we can teach people about leadership development, management skills, and conflict resolution techniques (all of which are part of our leadership training programs), it’s also imperative that leaders in training get feedback from the people they’re leading. And that’s where our flat structure really shines. Since every Caker is used to giving feedback to everyone, teams must feel comfortable giving feedback about the performance and management of their leaders. 

And as a lean organization, one of our most important goals is to always remain resilient. Change will come. We’ve all seen it happen before our eyes. So being able to adapt to change, to bend and shift things as needed, is critical for success. 

That’s where this push and pull process truly shines. If something isn’t working, we can take the time to discuss it and either come up with a solution or rework our processes to better address the problem. 

Cheesecake Labs has gone through a massive transformation from a small startup to a bustling company, and our commitment to staying agile and nimble has helped us along each step of the journey. That’s why a leadership development program is essential.

How to be a big cheese

So let’s boil all this down — how do you go from a babybel mini cheese (or a Cupcaker, as we call our trainees) to a big cheese at Cheesecake Labs? Here’s how we do it:

• First, you learn by doing. Every Caker hits the ground running on their first day with a checklist of tasks to complete, questions to answer, and people to meet with. If you’re interested in becoming a leader in the company, we’ll encourage you to pursue that dream from day one!
• Next, you learn to walk your talk. Our values aren’t a piece of paper on the wall. They’re a key consideration of everything we do. So we’re always looking for ways to stay accountable, stay open-minded, stay collaborative, and deliver the best possible work we can. And by “we” we mean all Cakers, no matter the career level.
• Then, if you’re interested in becoming a Cheesecake leader, you can join one of our leadership development programs. These training programs will help guide you through all the ins and outs of team management by teaching you important skills. You’ll learn how to manage a team, manage accountability, resolve conflict, how to be empathetic and emotionally available to everyone you work with, and so much more!
• Finally, you keep going. Keep learning, keep moving, and keep working. We don’t slow down at Cheesecake Labs. We’re always looking for ways to improve ourselves and our company, and we firmly believe that the more you put in, the more you get out. Each Caker dedicates themselves to improving personally and professionally. We’re always ready for change and always ready to learn. 

Become a Caker and join the Cheesecake Labs team!

If you’re interested in learning more about what it’s like to be a Caker, be sure to read our blog post What’s it like to work at a top 10 mobile app company. And if you think you have what it takes to be a big cheese, take a look at our current openings! We can’t wait to hear from you!

The post The Cheesecake Labs approach to leadership development appeared first on Cheesecake Labs.

10 mobile app company: implementing our values from day one

A company without clear values is like a cheesecake without the cheese — it’s just not right! So we made sure to clearly define our key values and designed our company culture around them. 

The Cheesecake Labs values are: 

Take ownership and be responsible 

We align expectations, set boundaries, and work hard to find the best solutions. We assume responsibility, take the initiative, and communicate clearly to keep all parts in sync.

When you join Cheesecake Labs, you become a “Caker,” and our values guide a Caker’s experience from day one. New Cakers are given a chance to hit the ground running with a checklist on their first day. That list includes the standard employee onboarding information, but it’s more than that. We set you loose and have you learn by doing. You have to discover some things on your own, find the right people to answer your questions, and then meet with team leaders to learn more about what each team does within the company.

This approach gives new Cakers a sense of empowerment and ownership over their entry into the company. And it lines up with our first value: take ownership and be responsible. Each new Caker is trusted to take responsibility and make their new role their own. The rest of the team is there to support you (of course), but we believe that the best way to get your feet wet is to just jump in!

Respect people and embrace differences 

We stand for well-being and respect. Our diversity helps us build more creative and innovative solutions. Our partners have different backgrounds and offer exciting problems to solve.

We truly believe that the best team is made up of all different kinds of people. The more diverse our team, the more unique our approach to our work can be. We are an equal opportunity employer and look for the best person for the job, no matter what. 

And we often find that when we’re celebrating and embracing each other’s differences, that’s when we grow and learn the most. For example, every year, we celebrate Pride. But we don’t just add rainbow flags to our email signatures and call it a day. 

Instead, we set aside time to get together and host our own Pride Week. This event brings different people together to discuss experiences and issues in the LGBTQIA+ community. Our goal is to learn more each year and promote important discussions that support the LGBTQIA+ community — both in and outside of Cheesecake Labs. 

It’s our goal to create a workplace where everyone feels 100% safe to be exactly who they are. Because we can only do our best work when we’re able to be our best selves.

Collaborate and help others grow

We grow and learn faster together. We share knowledge with the community and go beyond to help others succeed.

One of the things we most look for when hiring new Cakers is a willingness to keep learning. We pride ourselves on running a business with a flat structure, where everyone can share knowledge and expertise with everyone. If it’s your first day on the job and you know something that would help someone who’s been at Cheesecake Labs for five years, we want to hear it! We operate on a system of continuous learning and are always looking for ways to expand our knowledge base. We’ve found that collaboration is, hands down, the absolute best way to learn. 

We’re also dedicated to mentorship and professional development. You’re supported and guided through a one-to-one mentorship from your first day. Your mentor acts as your leader through the ups and downs of life at Cheesecake Labs. And with them, you always have a safe space to express your ideas — but also your fears, insecurities, concerns, and more. 

And don’t think that you won’t have a voice at Cheesecake Labs just because you’re new on the job. We operate a flat structure that thrives on feedback. And we’re not just talking about feedback from senior team members to fresh oven Cakers. Anyone can offer up or request feedback from anyone else at any level of the company. You’ll even see Cupcakers (our trainees!) giving feedback to senior staffers. We believe that we’re all on this journey together — so it’s vital to learn from each other and find ways to contribute to and improve our company culture. 

Deliver a WOOOW service

We encourage original thoughts and ideas to propose creative and innovative solutions, aiming to exceed expectations with win-win partnerships.

Sometimes, clients come to us with unique problems that need unique solutions. And we’re a very fast-paced company. Ask any Caker, and they’ll tell you that three months at Cheesecake Labs is like a year anywhere else. So we encourage people to be creative and agile in their work. 

We want to find the absolute best solution for our clients and blow them away with our deliverables. Whether that’s investigating new technologies or features, reaching out to partners for advice, or putting together beautiful, fully-featured and functional applications for clients in record time, we’re all about big ideas and big results. 

We already have 100 Cakers — you could be next!

If becoming a Caker sounds like something you’re interested in, check out our current openings and apply! You’ll get all the benefits and support you need to be the best Caker possible. We think that we do a really good job of creating an exciting, engaging, and supportive environment that lets you do your best work. 

Sure, you get a job when you come to work for us. But you’re also getting so, so much more. We offer a unique benefits package that includes a monthly dolar bonus, a credit card for flexible benefits so you can use it according to your needs, a fully-loaded Macbook Pro, Gympass discounts, health and dental insurance, Free remote English classes, a budget for personal and professional development, and the choice to work wherever you want. 

But, more importantly, you’re joining a welcoming, supportive community of high-performance professionals. 

But don’t just take our word for it. Here’s what some of our employees have to say: 

“I have just joined the company and have already been taken by a huge feeling of belonging…The environment is dynamic and encourages autonomy, but at the same time, the teams are united…Even after only 16 days, I feel at home among friends.” 

• Diefani Piovezan, Software Engineer

“Have you ever walked into a party and felt like the most popular person in the room — where everyone’s like, “Hey man, great to see you!” or “I’m so glad you could make it”?

Now imagine having that feeling every morning when you switch on your computer to log in to work. That’s what my first few months in the Cheesecake Labs team have been like. And, for my first full-time job in mobile development, I couldn’t be more psyched to be part of this culture.”

• Érico Rosiki Weber, Mobile Engineer

“Sure, we’re a software design and engineering partner, but technology isn’t the only thing that matters here.

Professional and personal development is something that’s always been a priority for me — and that’s echoed back by the Cheesecake Labs team 100%. After all, the better we feel in the jobs we’re doing, the better job we can do for our clients.” 

• Guilherme Rodrigues, Tech Lead

Come join the Cheesecake Labs team and experience what it means to work at a top 10 mobile app company for yourself!

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What is Tokenomics?

Tokenomics is a blended word of ‘token’ referring to the crypto token and ‘economics.’

Tokenomics is all about how a crypto token is integrated into the economy. The token economy addresses all the qualities of a crypto token that make it attractive to investors. The term has become trendy in recent years and addresses the mathematics and benefits of managing crypto assets.

How does The Token Economy fit into the world of Blockchain and Crypto?

Besides looking at how the asset works, Tokenomics also considers the psychological or behavioral forces that could impact the asset’s value in the long term. These aspects can directly impact the way assets organically evolve and how you can integrate tokens into businesses and products.

Projects with a well-planned and designed token economy have a higher chance of succeeding in the long term because they incentivize people to buy and keep their tokens. On the other hand, businesses with weak tokenomics will struggle because people often sell their tokens at the first sign of trouble.

Incentivization in the Token Economy

We all are driven by incentives. Children attend school because it provides learning opportunities and a better future. The world of crypto is full of incentives. While crypto assets have captivated the world with promises of economic opportunity, those opportunities still aren’t completely tangible.

Let’s look at The Stellar Network’s token, Lumens, as an example. Lumens are used to make trading on the blockchain-based distributed ledger easier. You can efficiently trade Lumens at a fraction of a dollar cent which lowers their carbon footprint. That smaller carbon footprint incentivizes some users to choose Lumens for their transactions over other options.

Defining the core aspects of your digital asset

When preparing to launch a digital asset, there are a handful of questions you need to ask yourself (or your blockchain development partner) to help further define the asset. Let’s take a look at some of the things you need to consider. 

Decide how much control you want over the asset and the market

Different assets have different levels of authorization. These authorization levels are dictated by the asset’s intended application and the blockchain network you’re using. Tokens can be tightly controlled, or you can allow users to independently manage blockchain processes themselves. 

For example, someone launching an asset in the Stellar network may configure it to maintain tight control. This means that they might individually approve each transaction and even carry out clawback operations to enforce regulation and safety.

On the other hand, you can let users interact with the asset themselves. With this option, users also control the mechanisms built to support it. This means that they work together towards a common goal — sustaining themselves as asset holders. 

How should the supply be managed?

Depending on your use case, you can launch an asset with a fixed limited supply or a dynamic supply. Fixed supplies give you a clear idea of asset scarcity. With a dynamic supply you can control the circulation of your token depending on your strategy. You can mint new tokens to increase supply or burn tokens to remove supply from circulation.

Stablecoins tie the value of the cryptocurrency to more stable assets, like fiat currencies. With stable tokens, a ‘reserve’ is set up securely by a transparent audited account. The asset or basket of assets supporting the stable coin is stored securely in this reserve. 

Let’s look at USD Coin as an example. USD Coin or USDC is a stable coin that is a tokenized version of the US Dollar. Here’s how it works:

• Users send US dollars to the coin issuer’s bank account
• The issuer then uses a USD Coin smart contract to create (or mint) the same amount of USDC
• These minted UDS Coins are sent to the user, and the fiat currency they sent in is held in a reserve

How do assets inflate and deflate in Tokenomics?

In the open market, asset prices fluctuate according to their use. Certain projects keep a steady rate when launching new assets. They are distributed according to the rules set in the project.

Or you can manage supply through burning and minting, which you can then use to control the inflation and deflation of assets.

Here’s how burning and minting work:

• Demand increases when you burn (or use) tokens
• Supply increases when you mint (or create) tokens

So, burning and minting create a simple supply and demand relationship — if you want to control the inflation of your asset, you want more tokens to be burned or used. If you’re going to deflate your asset, you want to create or mint new tokens. Asset

How to issue your assets: initial markets and distribution

When you launch a crypto asset you need to decide beforehand if you’ll let your asset grow organically or if you want to control the initial offering and price at launch.

Here are some ways you could approach market distribution:

• Controlling the initial distribution of the market. This can be done by controlling the way users can purchase and consume the asset together with the price and value. The asset creator can control the initial distribution via an app, service, or smart contract. Trading the assets for goods is another option.
• Creating an “early adopters” program as a means of pre-distribution. This could be done via airdrops, which involves sending free tokens or coins to wallet addresses in exchange for a small service, like tweeting a post promoting the company issuing the currency, or by launching ICOs or Initial Coin Offerings.
• Setting up an initial market with a liquidity pool or more. Liquidity pools are virtual trading places where tokens are purchased and sold. A liquidity pool refers to a basket of tokens locked in a smart contract. The pool allows cryptocurrency trading by providing users with an easy way to swap tokens with each other. 

 Which networks should you use?

The blockchain network you choose will have a direct impact on your token and how it’s used. Here are a few things to consider when choosing a network.

• How user-friendly is the network? In a developed ecosystem, there are more sources and tools for users if they ever get stuck and need some help.
• What is the cost to transact? Each network has a different way they charge for transactions. For example, the Ethereum blockchain can have high transaction fees during peak times. This happens because each transaction cost is directly affected by the amount and complexity of its smart contracts. So, these smart contracts are operating in addition to these regular transactions.
• How can you program assets? Each blockchain will handle programming assets differently. Networks like Ethereum or BSC use scripted smart contracts. These allow you to create complex codes and applications in the blockchain. The Stellar network operates differently. Stellar focuses on being a payment system that keeps transaction costs low and allows users to implement light core behaviors for stable and quick performance. The network you choose should help you program assets in a way that works best for you.
• How elaborate is the implementation process? You should consider the level of complexity involved in integrating a product integration into the network. It is also important to consider the level of control a company has over its assets and markets. 

Stay on top of regulations

All aspects of the token economy must be in accordance with local regulations. In the US, this means complying with federal and state laws. Crypto is still a relatively new technology — but it’s evolving at a fast pace. As cryptocurrency becomes more popular, legal requirements are bound to change, so it’s important to keep up to date on the latest regulations. 

Partner with Cheesecake Labs for all things blockchain

Now that you know the basics of the token economy and the process of issuing your own token, you’re ready to take the next step. If you’re looking for a partner in all things blockchain development, the Cheesecake Labs team of experts is ready to help! Get in touch with us to learn more about how we can help you launch your own digital asset. 

The post How to issue a digital token to solve your business needs appeared first on Cheesecake Labs.

Stellar is a cryptocurrency-adjacent technology. Similar to cryptocurrencies like Bitcoin, it’s a system for sending and processing currencies digitally. 

Unlike Bitcoin, however, the value of Stellar is not in its bespoke currency. Stellar is not trying to get users to invest in “the coin of the future.” Instead, it’s a tool for facilitating transactions in any fiat currency digitally. Kind of like PayPal, but simpler, faster, and more affordable. 

To be clear, Stellar does have its own cryptocurrency: Lumens. However, this is only used to initialize accounts and make transactions. 

Who is SDF and how was Stellar created?

The Stellar Development Foundation (SDF) is the organization that maintains and grows the Stellar blockchain, network, and user base. It’s a non-profit group and, critically, does not own Stellar. Stellar, like many decentralized cryptocurrencies, isn’t owned by anyone in particular. Like the internet, you “own” it just by using it. 

Stellar was created in 2014 by David Mazières, Joyce Kim, and Ripple co-founder Jed McCaleb. Eventually, Stripe co-founder Patrick Collision joined them to help form the SDF to manage the Stellar network. Stripe also provided the initial funding required to bring Stellar to market. 

Today, you can find Stellar’s source code on Github. You’ll also find several banks and businesses using the Stellar network in a variety of ways. 

How does Stellar work?

At its core, Stellar is a blockchain network. In the same way that Bitcoin and Ethereum have their blockchains, so too does Stellar. Lumens, which are the cryptocurrency associated with Stellar, are not the same thing as Stellar itself. They’re the coin that’s traded over the Stellar network, but the value of Stellar is in its blockchain. 

So what makes Stellar’s network so special?

In short, Stellar allows users to create their own tradable tokens. Unlike Bitcoin’s blockchain, which is exclusively used for the trading of Bitcoin, Stellar is built to trade tokens. These tokens are essentially digital representations of other assets or currencies. 

For example, say you wanted to trade bricks for wheat. On the Stellar network, you could specify how many tokens each brick is worth, then how much each bushel of wheat is worth. Two parties can then trade them back and forth digitally, using the tokens you choose as the medium of exchange. 

This can apply to trading hours, art, existing fiat currencies like Euros or US dollars, or even a company/community-specific token. 

It’s this versatility – powered by a fast, cheap, and energy-efficient blockchain – that makes Stellar so powerful. This unique token system makes Stellar excel at things like cross-border payments and low-cost transfers. 

What is the Stellar Consensus Protocol (SCP)?

The Stellar Consensus Protocol (SCP) is a way of proving Stellar’s ledger. It’s what verifies transactions through the Stellar network. 

Stellar uses the first Federated Byzantine Agreement, which allows individuals to verify transactions. This is a first, as previous systems relied on a single entity to verify transactions or everyone using the system. FBA technology streamlines this process without compromising security, making it far faster than other systems. 

How can you issue your own assets on Stellar?

Anyone can create their own assets with Stellar. And it’s a very simple process! Creating custom assets is baked into Stellar’s core as a native feature. You don’t have to worry about complicated smart contracts. All you have to do is create a transaction with your desired asset. Once that transaction is processed, your custom asset is added to the Stellar network. 

Stellar also makes it easy to connect your assets to a decentralized exchange (DEX) or a liquidity pool.

How can you trade tokens peer-to-peer on Stellar?

Any token on the Stellar network can be traded with any other token. That’s because Stellar uses Lumens as the medium of exchange. This allows you to send any currency you like and have it arrive as another currency. Conversion isn’t a secondary step — it happens during the transaction itself. 

What are anchors? 

On the Stellar network, anchors refer to financial institutions and businesses that allow users to make transactions with traditional fiat currency over the Stellar network. This includes banks, stores, retailers, and more, creating tokens and avenues for consumers to make transactions through Stellar. 

How can businesses around the world connect through the Stellar network?

Stellar makes cross-border payments possible without the need for traditional wire transfers, which are slow and costly. Using tokens and anchors, businesses and individuals can transact with one another. Transactions are carried between two points by anchors to make the transaction as fast and affordable as possible. 

How can businesses leverage their potential with the Stellar network?

Businesses all over the world are already making use of the Stellar network in a variety of ways. SatoshiPay uses Stellar to replace ads on its content with micro-transactions. Saldo helps migrant workers support family members back home. Vibrant allows people in areas like Argentina, which don’t have a stable fiat currency, to quickly and cheaply convert their currency into a stable option. 

What does the future of Stellar look like?

Stellar and the SDF’s goal is to bring about a future where spending money is faster, more affordable, and more widely available to everyone. Stellar’s recently announced partnership with Moneygram will help enable cash funding and payouts in multiple currencies, all through the Stellar blockchain. MoneyGram’s position as one of the largest money transfer services in the world will no doubt bolster Stellar’s popularity and promote wider adoption. 

The world is already running on a modern digital economy. It’s time our spending caught up, and Stellar is on track to make that transition easier for everyone.

To learn more about how your brand can use Stellar and get help putting it all together, reach out to the team at Cheesecake Labs today.

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What are custodial solutions and non-custodial solutions for crypto wallets?

Custodial and non-custodial solutions for crypto wallets refer to how a person’s access to their crypto is secured. Individuals don’t have the actual “files” containing their cryptocurrency, just like they don’t have the gold their fiat currency represents. 

Instead, a person has access keys. These keys are a type of PIN that gives the person access to make transactions with their crypto wallet. If they buy five crypto coins, those coins aren’t downloaded to their wallet. Instead, a transaction with those coins is registered in the blockchain associating them with a public key that represents the wallet. The public key shows that you own five crypto coins while the private key allows you (and only you) to move those coins around.

These access keys are how cryptocurrencies are traded, spent, and acquired, and they’re one of the core innovations of cryptocurrency. 

However, they can also pose some issues. For instance, if someone finds out the access code to your wallet, they now have just as much access to your cryptocurrency as you do. Likewise, forgetting that your access code is akin to losing your money. 

When a person has total control and responsibility for their access keys, this is known as a non-custodial wallet. It’s up to them to make sure they remember and secure their access code(s). 

When a person doesn’t hold responsibility for their access keys, this is known as a custodial wallet. Typically, an app like Coinbase or Guarda will keep track of the access keys for the person conducting trades on their behalf. 

You can think of a custodial wallet as letting Amazon hold the PIN to your debit card, so that you can make purchases very conveniently — while a non-custodial wallet is more like only you knowing the PIN and inputting it manually for every purchase.

Why is security a critical factor when it comes to digital asset custody?

We touched on it briefly in the introduction, but calling security a “critical factor” of digital assets is an understatement. Cryptocurrency is a prime target for all sorts of digital fraud. That target only gets more prominent thanks to most individuals’ limited understanding of cryptocurrencies. 

Here are just a few of the concerns that stem from digital asset custody. 

It is impossible to undo transactions 

By design, you can’t undo cryptocurrency transactions. If someone finds your access key and uses it to send themselves all of your crypto, that crypto is as good as gone. There is no way to cancel the transaction or quickly undo it. 

This is hardcoded into blockchain technology, and it’s part of what makes cryptocurrency so secure. By making the blockchain immutable, it can be the most transparent and reliable ledger ever invented. 

The drawback of this is that blockchain’s rigidity means accidents and thefts can’t be undone. That’s why it’s crucial that preventative measures are effective and implemented with discipline. 

Crypto keys are as valuable as the assets themselves

Another pertinent risk with digital asset custody is the value of access keys. Having access to someone else’s access keys is almost the same as having access to someone’s credit card and PIN. 

The difference is that access keys are even more valuable because there are no protections for individuals whose access keys have been stolen. Most cryptocurrencies are decentralized, so there are no governing bodies or organizations to refund you or investigate fraud on your behalf. 

In other words, keys give you total access to a person’s cryptocurrency, which means they’re just as valuable as the digital assets themselves. 

The permanent nature of crypto makes it a target for fraud

Lastly, the permanent nature of crypto makes it an even bigger target for fraud. That’s because there are almost no consequences (at least at this time) for scamming/stealing someone’s digital assets. 

These transactions can’t be undone, it’s nearly impossible to determine who committed the theft, and there are few legislative protections anywhere in the world. 

Real-world example: Why BitGo custodial services are secure

As you may have noticed, many of the risks surrounding digital assets are tied to non-custodial storage. When you store assets with custodial solutions, an organization keeps track of your key(s) for you. This means it’s far less likely someone will steal your assets.

For example, let’s look at BitGo. BitGo is a digital wallet for storing Bitcoin, which, as we’ve covered, actually means storing access keys. It holds them in a way that’s more secure and convenient than what most users could accomplish without it. 

When using BitGo, all of a user’s crypto transactions are funneled through BitGo’s service. This means that users never need to see or access their keys, keeping them safe from prying eyes. 

Additionally, BitGo keeps access to your crypto behind a multi-signature account. This means that the user gets a key, and BitGo gets a key, and you need both to make a transaction. Similar to two-factor authentication, this adds an extra layer of security. 

Crypto custody risks

As BitGo shows, custodial solutions can add extra layers of security that the average user won’t get any other way. However, custodial solutions are not wholly without risk. Below are a few concerns to consider when looking at custodial options. 

Confidentiality

First and foremost, a custodial wallet introduces a third party to your cryptocurrency transactions. This, in theory, reduces the anonymity that comes with most cryptocurrencies. That might not be a big deal for most users because putting your trust in a custodial wallet is similar to putting your trust in a traditional bank. 

However, for many users, the confidentiality that cryptocurrency can provide is one of its key selling points. So it’s valuable to keep in mind that confidentiality is something you may be sacrificing with custodial services. 

Availability

With custodial services, you trust the custodial provider to make your keys available. If they go out of business, are hacked, or simply close their proverbial doors every evening, then you lose access to your keys and funds. 

Integrity

Users also depend on custodial services to keep their keys in working order. If the files containing a person’s keys are deleted, corrupted, or lost, then so are your funds. For that reason, it’s essential to choose a custodial platform that you trust. 

Many newer custodial services offer reimbursements up to a specific limit, similar to a bank, but these are not necessarily standard or comprehensive. 

The best crypto custody providers of 2021

Gemini

Gemini is a highly compliant, highly secure custodial solution. It stores users’ keys in military-grade storage facilities and is geared towards institutional crypto investors. 

Coinbase Custody

Coinbase is one of the oldest and most trusted names in crypto. Its custody services are not only high-grade and reliable but are also backed by insurance and simple interfaces. 

Cheesecake Labs can help you navigate all of your cryptocurrency needs

If you’re looking for support in cryptocurrency investing, development, or integration, we can help. The team at Cheesecake Labs not only has a deep understanding of and excitement for blockchain, but we have the technical know-how to help you embrace it. Reach out to our team today!

The post Why are custodial solutions important for Crypto-related businesses? appeared first on Cheesecake Labs.

With the network of devices expanding and becoming more commonplace in daily settings, the interconnected “world of the future” is shaping up around us. And it’s this rapid IoT transformation that’s paving the way for new innovations and possibilities — as well as fresh competitive advantage for brands who jump on board.

The marketplace is primed for IoT

To be clear, this surge in IoT interest is by no means an accident. Careful advancements, launches, and adoption rates have led to this sustained growth for the IoT marketplace. Below are a few of the key factors that have made IoT opportunities possible. 

5G is everywhere

With massive companies like Apple embracing IoT innovation and bringing it to the masses, it’s only a matter of time before 5G technology and its possibilities become mainstream. That’s because several aspects of 5G make it an excellent catalyst for IoT.

For one, 5G allows for far faster, more widely available mobile connectivity. This is crucial for many IoT deployment cases. And as more people move to 5G networks and leave current LTE and 4G networks behind, there will also be more low-power network bandwidth available for IoT devices. 

Equally as important, 5G’s high-data throughput allows for more complex computing to happen over telecom networks. This will pave the way for more intricate IoT solutions, akin to what we’re used to on personal computers. 

People are getting used to the concept of IoT

Another factor helping to push IoT tech forward is the normalization of IoT. Smart speakers, digital automation, and smart home devices have all started to penetrate the market in a significant way. 

It’s been slower than some may have predicted, sure, with many of these devices having existed for more than five years. But that can’t take away from the fact that market adoption is happening on a massive scale, especially among older Millennials (the 30-44 age group leads the way for use of smart TVs, smart speakers, smart security, and more). 

The global pandemic has likely played a large role in adjusting people to the idea of hyper-connected services and devices too. Who hasn’t depended on digital-first services to get food, interact with loved ones, banking, telecommute to work/school, or speak to a healthcare provider over the last year? 

This is likely driving the normalization of IoT innovation at an even faster pace, which is a net positive for the industry as well as individuals. 

There is more data and data-sharing than ever before

Thanks to the increasing adoption, we’re seeing a more data-centric and data-sharing world than ever before. It’s not uncommon for a business of moderate size to have more data at its disposal than it is capable of parsing through without machine learning. And individuals are now expecting services to not only have an online platform, but to work seamlessly together with other solutions at all times. 

This data renaissance both creates a platform for, as well as necessitates, IoT technologies. It’s creating the opportunity, driving consumer and enterprise demand, and posing a problem that only IoT, AI, and ML can solve. 

What does IoT innovation look like in practice?

Alright, so IoT innovation is growing in popularity, just as it’s been predicted to since its inception. Now, it’s time to look at this technology in practice. 

Recently, the team at Cheesecake Labs had the pleasure (and challenge) of developing a one-of-a-kind IoT solution: THAW, a product of  Alliance Consumer Group. 

Here is how our experience developing this IoT product went. 

THAW: A unique footwear solution

The premise behind THAW is simple: create a heated in-sole device for shoes. The in-soles connect to an app, allowing the temperature of the wearer’s shoes to be controlled manually and automatically. 

If you’ve ever been out hiking, mountain biking, skiing, fishing, or hunting when the temperature drops, then you know how quickly cold feet can put an end to your fun — and that’s the problem Thaw looks to solve. Using the app, the user can control how warm their shoe’s in-sole is and what times it turns on. 

How IoT took this idea a step further

Of course, this isn’t much of an IoT idea just yet — it’s still a really neat way to stay warm, but the connections aren’t there to call it IoT. So Cheesecake Labs partnered with the THAW product development team to take this concept a step further. 

We worked with THAW to integrate current weather reports into the product. This way, the device will not only turn on when it’s told to by the user, but it can also notify the user when it should be turned on (after the weather drops below a certain point). Likewise, we also implemented a notification system so that the user remembers to charge the device whenever the weather is getting colder. 

The challenge of THAW’s IoT

THAW isn’t just one device, it’s two (one for each sole). That means that both devices need to not only be connected and responding to the user’s input, but they need to be doing so synchronously, all of the time. 

And yet, we also wanted the user to be able to specify distinct settings for each in-sole should they wish to. Whatever we built needed to work synchronously and asynchronously; back and forth whenever the user desires. 

Using Flutter to make this IoT vision a reality

Conceptualizing how the app needed to work and the integrations it needed to have was just Phase One. Then we needed to come good on our ideas! To do so, the Cheesecake Labs team turned to Flutter — the development framework powering many of the world’s best apps.

Here’s why:

You can write for Android and iOS simultaneously

With Flutter, you can write your application’s code once and deploy it to both Android and iOS simultaneously. When you consider all the variables of an IoT application — plus THAW’s double-device challenge — this offered a huge benefit versus native development.

Cross-platform development isn’t always the right approach (see our comparisons of native vs cross-platform apps here) but for IoT innovation, it’s a great fit.

Flutter is headed by Google, who wholeheartedly believes in IoT

Google is a firm supporter of IoT, evidenced by the fact that Flutter not only works with Android and iOS but also desktops and embedded devices (like Thaw). Likewise, Google recently began developing the Fuchsia OS, which is aimed to deploy on a wide array of devices (not just the traditional smartphones and desktops we’re used to). 

There is a pre-existing library of tried-and-tested modules

Finally, Flutter comes with a vast library of tried-and-tested modules. This allowed us to dramatically speed up and simplify the development timeline of this project, while also mitigating risk.

Ready to dive into your own IoT development cycle?

The Internet of Things presents incredible opportunities for both consumer and enterprise applications — and we’re not just talking about years in the future, either. The time to start thinking about IoT innovation for your business is now, and Cheesecake Labs can help. 

Reach out today and take your IoT journey on its first (or next) step. 

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