How to Build a Real-Time Wallet Tracker

Posted By : Ankit

May 29, 2024

Before diving into the technical details, let's explore the benefits of a real-time wallet tracker: Before diving into the technical details, let's explore the benefits of a real-time wallet tracker, under the crypto wallet development part:


1. Instant Updates: You have the ability to check your spending and financial health instantly and on the go.

2. Better Budgeting: Real-time expenditure monitoring can easily be done against the spending plan.

3. Fraud Detection: Originate methods to identify such transactions, and act accordingly instantly.

4. Convenience: Have full account access to your financial information from the palm of your hand via your Android phone, iPhone, tablet, or PC.


Getting Started: Planning Your Wallet Tracker


Define Your Goals

When using your wallet tracker, what is its purpose, or what do you wish to accomplish? Common features include:

- Transaction tracking

- Balance updates

- Budget management

- Low balance warnings or notification of suspicious activity

 

Read Also | How to Sign Ledger using Solana Wallet Adapter


Choose Your Technology Stack

Here's a suggested tech stack:

- Frontend: React. js or Vue. js to designing an interface that can react to changes in size and shape.

- Backend: Node. js with Express. This function is used for the handling of API requests using js.

- Database: MongoDB to handle data related to customers and transactions.

- Real-Time Updates: Socket. io for continuous communication between the frontend and the backend usually through the use of messages.

 

Design Your Data Model

In this worksheet, the data structure or schema you will have to define is not defined clearly. For a wallet tracker, you'll need at least:For a wallet tracker, you'll need at least:

- Users: Subscribing details, User credentials

- Accounts: One has to differentiate between a wallet or bank account of the victim or a non-victim.

- Transactions: Specific information about each transaction, especially the monetary value, the date when the transaction took place, and where the transaction occurred when it is "¦

- Budgets: User-defined budgets for different categories Whether for business or personal use, it is common that individuals need to create a budget plan for different categories.


Building the Real-Time Wallet Tracker
 

Step 1: Setting Up the Backend


1. Initialize the Node.js Project

sudo
  mkdir wallet-tracker
  cd wallet-tracker
  npm init -y

 

2. Install Dependencies

npm install express mongoose socket.io body-parser

 

3. Create the Server
 

  const express = require('express');
  const mongoose = require('mongoose');
  const http = require('http');
  const socketIo = require('socket.io');
  const bodyParser = require('body-parser');
  const app = express();
  const server = http.createServer(app);
  const io = socketIo(server);
  mongoose.connect('mongodb://localhost:8080/walletTracker', { useNewUrlParser: true, useUnifiedTopology: true });
  app.use(bodyParser.json());
  // Define your schemas and routes here
  server.listen(3000, () => {
    console.log('Server is running on port 3000');
  });
  io.on('connection', (socket) => {
    console.log('New client connected');
    socket.on('disconnect', () => {
      console.log('Client disconnected');
    });
  });

 Step 2: Setting Up the Database Models

 

Create models for Users, Accounts, Transactions, and Budgets.

const mongoose = require('mongoose');
const userSchema = new mongoose.Schema({
 username: String,
 password: String,
 email: String,
});
const accountSchema = new mongoose.Schema({
 userId: mongoose.Schema.Types.ObjectId,
 name: String,
 balance: Number,
});
const transactionSchema = new mongoose.Schema({
 accountId: mongoose.Schema.Types.ObjectId,
 amount: Number,
 date: Date,
 category: String,
 description: String,
});
const budgetSchema = new mongoose.Schema({
 userId: mongoose.Schema.Types.ObjectId,
 category: String,
 limit: Number,
 spent: Number,
});
const User = mongoose.model('User', userSchema);
const Account = mongoose.model('Account', accountSchema);
const Transaction = mongoose.model('Transaction', transactionSchema);
const Budget = mongoose.model('Budget', budgetSchema);
module.exports = { User, Account, Transaction, Budget };

 

Step 3: Implementing Real-Time Updates

Integrate Socket.io for real-time updates.

 

io.on('connection', (socket) => {
 console.log('New client connected');
 socket.on('newTransaction', async (data) => {
   const transaction = new Transaction(data);
   await transaction.save();
   const account = await Account.findById(data.accountId);
   account.balance += data.amount;
   await account.save();
   io.emit('updateBalance', { accountId: data.accountId, newBalance: account.balance });
 });
 socket.on('disconnect', () => {
   console.log('Client disconnected');
 });
});

 

Step 4: Building the Frontend

 

1. Create a React App

npx create-react-app wallet-tracker-frontend
  cd wallet-tracker-frontend

 

2. Install Socket.io Client

npm install socket.io-client

 

3. Connect to the Backend

import React, { useEffect, useState } from 'react';
  import socketIOClient from 'socket.io-client';
  const ENDPOINT = "http://localhost:3000";
  const socket = socketIOClient(ENDPOINT);
  function WalletTracker() {
    const [balance, setBalance] = useState(0);
    useEffect(() => {
      socket.on('updateBalance', (data) => {
        if (data.accountId === YOUR_ACCOUNT_ID) {
          setBalance(data.newBalance);
        }
      });
      return () => socket.disconnect();
    }, []);
    return (
      <div>
        <h1>Wallet Tracker</h1>
        <p>Current Balance: ${balance}</p>
      </div>
    );
  }
  export default WalletTracker;

 

Step 5: Testing and Deployment

 

1. Test Your Application

When developing a website, ensure that each implemented feature is working as provided and debug any issues that may be noted.


2. Deploy Your Application

The backend should be deployed by using services such as Heroku while the frontend deploys by the usage of Netlify.

 

Read Also | Create a Basic Smart Wallet Using the ERC4337 Standard

 

Conclusion

 

In order to make a wallet tracker, one needs to ensure that there is a server side to handle data and update the database in real-time or near real-time to provide the updated data to the client side, which will be refreshed in near real-time to display the data to the users. When done following the guidelines in this guide, one can develop a tool that efficiently manages personal finances. A real-time wallet tracker, simple for use or complex as a sample of your coding abilities, is a very functional tool for a wide variety of purposes. Contact our blockchain developers for expert services in crypto wallet development. 

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July 16, 2024 at 02:01 pm

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