In 2022 Guarda Wallet made the ultimate decision to stop in-house crypto node deployment. The company was able to focus on more important tasks, such as app deployment and company development. This was a significant change in the company’s infrastructure that resulted in increased stability and reliability for the service.
Paul Sokolov, CEO of Guarda Wallet, has expressed his belief in his company’s determination to succeed: “The crypto industry is a very competitive marketplace, the standards are increasing constantly, new businesses are rising every day, and it is up to us to do what we can to maintain our company at the top positions.”
Let’s find out what steps led to an increase in the company profit.
- Assess your current situation. Which tasks consume a large part of your time and are they important?
The famous wallet’s CEO has revealed the reasons for his decision. This checklist will help you determine if your company is facing similar problems.
Obligation to deploy permanent assets;
High-priced infrastructure maintenance
* Node deployments require maintenance engineers to maintain DevOps.
* Crypto nodes crash regularly.
* The company is kept in business, which means that money and time are spent on maintenance instead of allowing for desired expansion.
If more than one of these points applies to your current situation, it’s a sign to consider Blockchain Nodes outsourcing.
Guarda Wallet currently has 400K+ assets. As the company grows, it becomes more difficult to support its internal infrastructure. Guarda Wallet employs a team that includes highly skilled developers and DevOps experts to support the network.
- You might consider outsourcing to help speed up your work processes
Every crypto wallet, exchange or payment system owner knows how it feels to wake up at 3 AM and hear a DevOps engineer utter the horrible truth: “The node is down.” Any crypto project will have significant labor costs when it comes to internal cryptocurrency node deployment. It is clear that major companies are looking for ways to reduce their operational costs.
Guarda’s CEO stated that it was easier for us to have crypto nodes hosted by reliable blockchain providers than to do so on our end. I can tell you that in-house node deployment can be extremely stressful and costly. As an alternative, we decided to use nodes as crypto-providers.
- Do thorough market research on outsourcing
It is no secret that deep market research is essential for making the right decision.
Considerations for cryptocurrency node hosting providers should be based on fundamental characteristics like the company’s security and trustworthiness, as well as specific specifications such as a technical package.
“After extensive market analysis, we chose NOWNodes because of their reliability and large range of different blockchain nodes. These features are crucial for multi-currency wallets. Paul states that we must constantly add new coins to keep the value of our clients’ money.”
- Select a reliable and trustworthy service provider
In the crypto market, trust is based on the major players. Important to note that NOWNodes is part of a group of companies headed by ChangeNOW, a well-known cryptocurrency exchange. This could explain Guarda’s decision to use a crypto node hosting service provider.
“We also value the ability to discuss complex issues with them. This makes our work more efficient and easier. NOWNodes offers SLA which makes it easy to work and allows for transparency. Guarda Wallet is a premium service provider. We believe it is important to ensure that all crypto nodes are stable and working in sync with the Blockchain, as our service relies heavily on them,” Paul Sokolov stated.
Every crypto wallet must have a balance and transaction history. NOWNodes offers both block explorers and crypto nodes. Integration was easy. It was easy to integrate the company’s API for blockchain nodes. NOWNodes is fully responsible for node deployments, failed recovery of nodes, and updates of nodes.
What is NOWNodes offering?
One API key grants access to more than 60+ blockchain nodes
Access to the blockchain explorer
* One month free of charge for testing the service
* Technical support is available 24 hours a day from highly qualified personnel
* SLA
- Invest all your resources in marketing and sales
The entire transition took several months. For security reasons, we switched our cryptocurrency nodes to nowNodes in stages. This allowed us to first test the service before we decided to transfer all of our resources to this company’s server. This will help us to reduce operational costs such as server maintenance and the hiring of new developers. These changes have allowed us to concentrate on growth-oriented actions such as marketing and sales. “By making this decision, we were able to focus on the wallet and its profitability,” says Guarda’s CEO.
Guarda doesn’t need to be occupied with crypto node maintenance. The company shifted to profit raising and expansion, which are crucial in a fast-paced cryptocurrency environment.
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
