<p dir="ltr" style="text-align: justify;">Security Token Offerings (STOs), a new capital-raising tool in the digital financial sector, combine the traditional finance world with blockchain and regulatory compliance. STOs provide digital tokens that can be exchanged for the shares of underlying assets in the future in an encrypted and legally compliant way. They fuse the prospects of cryptocurrency with the essential features of regulation and safeguarding for investors, thus widening the category of investors and establishing a more powerful investment model in the long run. At the same time, STOs have pros and cons, so we offer to discover them in this article.</p>
<div id="form-description" class="form-description" data-title="Key Takeaways " data-text="Security token offering is a regulatory-compliant form of fundraising that offers global capital access and increased liquidity for traditionally illiquid assets. 

STOs operate within securities law, providing a safer option for investors and companies, but also include some risks. 

Studies show that companies conducting STOs have an average return on investment (ROI) of 156% within the first year.">
<div class="form-description-title">Key Takeaways</div>
- Security token offering is a regulatory-compliant form of fundraising that offers global capital access and increased liquidity for traditionally illiquid assets.&nbsp;<br />- STOs operate within securities law, providing a safer option for investors and companies, but also include some risks.&nbsp;<br />- Studies show that companies conducting STOs have an average return on investment (ROI) of 156% within the first year.</div>
<h2 dir="ltr" style="text-align: justify;">Understanding the STOs</h2>
<p dir="ltr" style="text-align: justify;">Security Token Offerings (STOs) are an innovative way of raising money that integrates technology and regulatory compliance. STOs are the issuance of digital tokens that are recorded on a blockchain, representing investors' rights to underlying assets or profits. These tokens have been defined as securities and thus attract regulators' scrutiny and adherence to legal frameworks to preserve investors' safety and market integrity.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711702549563.png" /></p>
<p dir="ltr" style="text-align: justify;">The principle of the tokenization process applies to a wide range of assets, such as real estate, stocks, bonds, or even artwork. It democratizes access to investment opportunities, increases liquidity, and reduces cost by being an intermediary elimination. Through the blockchain in the tokenization process, transaction integrity and transparency are ensured while fraud and disputes are minimized. The STOs fill the gap between STOs and ICOs since they merge the efficiency and transparency of the blockchain with security. The legal framework that governs STOs is vital because they must comply with the securities law, which ensures transparency, security, and accountability. This compliance covers the registration of the offering with regulatory bodies (like the&nbsp;<a href="https://www.sec.gov/" target="_blank" rel="noopener">SEC</a>), financial and operational disclosure, and conformity with investor protection regulations.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711702592099.png" /></p>
<h2 dir="ltr" style="text-align: justify;">The Pros of STOs</h2>
<p dir="ltr" style="text-align: justify;">The emergence of STO as an investment and fundraising tool that specifically meets the needs of both investors and issuers has been the most distinctive alternative for both the conventional and digital ways of funding.</p>
<h3 dir="ltr" style="text-align: justify;">Access to global capital</h3>
<p dir="ltr" style="text-align: justify;">STOs provide an all-the-world access capital toolkit for startups, small-cap, or big business enterprises to tap large capital pools. Unlike classic investment vehicles based on restrictions from the local legislature, STOs allow those residing in different parts of the world to participate in investment.</p>
<p dir="ltr" style="text-align: justify;">Therefore, assets can be traded beyond established borders, determining new markets and lowering financing costs. Investors enjoy enhanced opportunities as a result.</p>
<h3 dir="ltr" style="text-align: justify;">Increased liquidity</h3>
<p dir="ltr" style="text-align: justify;">Through tokenization, there is a possibility of having intangible assets like land and artwork converted into tradable and non-fungible digital assets capable of fractional ownership. This function greatly benefits the liquidity of these assets, making them suitable for selling and buying on the secondary markets. Since the enhanced liquidity can reduce investors' worries about their future obligations and enable them to access better returns quickly, the investments will be equally attractive.</p>
<h3 dir="ltr" style="text-align: justify;">Improved transparency and compliance</h3>
<p dir="ltr" style="text-align: justify;">Blockchain offers wider visibility and higher security. Each transaction is recorded in a register that cannot be changed or tampered with, and all the participants can see. The ledger provides real-time transparency. This, therefore, eliminates the existence of intermediaries, decreases transaction costs, and boosts efficiency. Last but not least, STO is based on the regulatory framework and securities rules, which aim at protecting investors' rights, and the real offer is project-related.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/blog/8-latest-crypto-fundraising-trends-that-shape-2024" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711702637547.png" width="100%" height="100%" /><span class="incut--text">Read more about the latest crypto fundraising trends.</span></a></p>
<h3 dir="ltr">Partial ownership</h3>
<p dir="ltr" style="text-align: justify;">STOs disrupt investing in precious assets through fractional ownership. Assets that were once exclusively owned by rich individuals or institutional investors can now be fractionalized and divided into smaller portions, making those assets more affordable to a broader range of investors. The wider-spreading investment opportunities allow small investors to diversify their portfolios while increasing the investor base and injecting new capital into the markets.</p>
<h3 dir="ltr" style="text-align: justify;">Programmable security</h3>
<p dir="ltr" style="text-align: justify;">Programmability is realized in STO by merging&nbsp;<a href="https://agilie.com/blog/secure-smart-contract-design-best-practices-in-solidity-programming" target="_blank" rel="noopener">smart contracts</a>&nbsp;into tokens and establishing programmable securities. These smart contracts can perform various functions, including dividend distribution, voting rights, and compliance check tasks. This step simplifies operations and minimizes administrative jobs.</p>
<p dir="ltr" style="text-align: justify;">Agilie's specialty in delivering secure and interoperable technology solutions makes us a prominent player in bringing STO to companies aiming to optimize their capacity by utilizing the inherent value of blockchain.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/blog/enterprise-blockchain-development-how-businesses-derive-benefits" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711702811161.png" width="100%" height="100%" /><span class="incut--text">Read more about our blockchain development benefits.</span></a></p>
<p dir="ltr">The benefits are notable, but the disadvantages should also be considered when deciding on a fundraising method.</p>
<h2 dir="ltr" style="text-align: justify;">The Cons of Security Token Offerings</h2>
<p dir="ltr" style="text-align: justify;">STOs use a mix of regulatory compliance and blockchain technology, which facilitates the generation of new drawbacks.</p>
<h3 dir="ltr" style="text-align: justify;">Regulatory Uncertainty</h3>
<p dir="ltr" style="text-align: justify;">The STOs are still observed within the scope of the national laws, as the flexibility of the global securities regulatory system remains a feature. The changeability of the environment might unpredictably add involvedness to STO issuance as the jurisdictions decide to upgrade their outdated laws concerning adopting new technologies. These complexities of this legal density cause more difficulties for global STO projects in drawing foreign investments.</p>
<h3 dir="ltr" style="text-align: justify;">Market Acceptance and Understanding</h3>
<p dir="ltr" style="text-align: justify;">The concept of tokenized securities is very novel, and hence misconceptions and skepticism exist among investors. Contrary to what traditional instruments like stocks, bonds, and derivatives usually do to them, most see STOs as too hard to understand or speculative. This psychological fear further leads to low rates of STO adoption, which then may need more public education and marketing campaigns to increase acceptance and confidence.</p>
<h3 dir="ltr" style="text-align: justify;">Investor Accreditation Limitations</h3>
<p dir="ltr" style="text-align: justify;">Most STOs are designed for accredited or qualified investors since regulatory frameworks govern their operation to protect retail investors from high-risk investments. On the one hand, full compliance and transparency are ensured by this technique. On the other hand, it results in a smaller base of investors, which decreases the campaign's scale and scope.</p>
<h3 dir="ltr" style="text-align: justify;">Expenditures and Burdens of Implementation</h3>
<p dir="ltr" style="text-align: justify;">STOs must comply with all international regulatory requirements, the vast majority of which carry a considerable cost and red tape. The cost for legal advisers, auditors, and compliance platform development can be quite high. Besides this, another thing that needs a lot of adjustment is the strict compliance requirements that often change. Therefore, having experienced professionals and dedicated people is a must.</p>
<h3 dir="ltr" style="text-align: justify;">Technological Risks</h3>
<p dir="ltr" style="text-align: justify;">While blockchain technology offers significant benefits, it has risks. Security vulnerabilities may result in hacking incidents, and the decentralized structure of blockchain makes it difficult to recover assets if a private key is lost. These threats trigger the need for robust security guidelines and disaster recovery plans to reduce the possible damage.</p>
<h3 dir="ltr" style="text-align: justify;">Limited Secondary Market</h3>
<p dir="ltr" style="text-align: justify;">The immature secondary market for trading tokenized securities can limit liquidity and, therefore, diminish the potential attractiveness of STOs to investors. On the one hand, the automaticity of STOs is expected to increase the effectiveness of the secondary market; on the other hand, the reality depends greatly on active and accessible platforms for these tokens.</p>
<p dir="ltr" style="text-align: justify;">Our experience in blockchain development addresses the complexities and uncertainties of STOs.&nbsp;<a href="https://agilie.com/company" target="_blank" rel="noopener">Our team</a>&nbsp;is devoted to making the STO process easy and effective, thereby providing projects that are equipped to meet current regulations and technology for future changes.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711703899290.png" width="100%" height="100%" /><span class="incut--text">Learn more about our blockchain software development services.</span></a></p>
<h2 dir="ltr">Future Outlook&nbsp;</h2>
<p dir="ltr" style="text-align: justify;">Security Token Offerings (STOs) are set to evolve as the global financial ecosystem becomes digitized, becoming a key mechanism for capital raising and investment across sectors, offering enhanced liquidity and efficiency, including the following aspects:</p>
<ol style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Regulatory evolution</strong></p>
</li>
</ol>
<p dir="ltr" style="text-align: justify;">Regulation for the development of STOs results from realizing that investors' protection, fairness, and credibility are the crucial points of blockchain technology and digital securities.</p>
<ol style="text-align: justify;" start="2">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Technological Advancements</strong></p>
</li>
</ol>
<p dir="ltr" style="text-align: justify;">The swiftly burgeoning blockchain technology and security measures take care of STO scalability, transaction speed, and asset management with the advanced compliance mechanisms and asset management introduced by smart contracts.</p>
<ol style="text-align: justify;" start="3">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Sectoral Expansion</strong></p>
</li>
</ol>
<p dir="ltr" style="text-align: justify;">STOs were implemented in such sectors as infrastructure, renewable energy, and ownership of intellectual property. Tokenization was used to raise capital, and small investors could diversify their investments through their participation.</p>
<p dir="ltr" style="text-align: justify;">Agilie disrupts clients&rsquo; services by introducing new sectors and investment opportunities to STOs that work best with them.&nbsp;</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711703245067.png" width="100%" height="100%" /><span class="incut--text">Our experience and passion create successful projects. Learn more about them.&nbsp;</span></a></p>
<h2 dir="ltr">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">Security Token Offerings (STOs) are a new significant step in digital finance, thanks to a combination of blockchain technology and regulatory compliance. Investors gain from global capital access, increased liquidity availability, transparency, and investment democratization. Nevertheless, they need help with regulatory uncertainties, market competitiveness, investor accreditation restrictions, compliance costs, technological risks, and the absence of a secondary market. The delicate balance between innovation and regulation in the world of finance is very important because STOs can change the world of investment.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Agilie, a leading company specializing in blockchain software development, shapes the future of digital finance.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711703364700.png" width="100%" height="100%" /><span class="incut--text">Contact us and transform the digital finance future.</span></a></p>
<p>&nbsp;</p>

<p>Explore the pros and cons of Security Token Offerings (STOs) and how this innovative fundraising method shapes the future.</p>

Explore the pros and cons of Security Token Offerings (STOs) and how this innovative fundraising method shapes the future.

The Pros and Cons of STO

<p dir="ltr" style="text-align: justify;">In a dynamic world of blockchain technologies, Solidity became the first programming language for smart contract creation on blockchain platforms, including the Ethereum platform. Automatic transaction processing, the development of smart contracts, and different applications are the features that highlight the impact of language on blockchains. The flexibility and capability of Solidity certainly cannot be underestimated, but it also has its impasse. An ineffective smart contract design may result in major financial damage, showing the necessity of studying common issues and selecting proven practices to reduce potential risks. This article introduces the complexity of Solidity programming and explains how to prevent frequent errors and obtain reliable, secure, and efficient smart contracts.</p>
<div id="form-description" class="form-description" data-title="key Takeaways " data-text="Solidity offers different tools for decentralized app development.

Developers encounter issues like syntax errors, memory management problems, gas optimization obstacles, etc.

The Solidity community provides documentation, tools, platforms, and new trends in smart contract security.">
<div class="form-description-title">Key Takeaways</div>
- Solidity offers different tools for decentralized app development.&nbsp;<br />- Developers encounter issues like syntax errors, memory management problems, gas optimization obstacles, etc.&nbsp;<br />- The Solidity community provides documentation, tools, platforms, and new trends in smart contract security.</div>
<h2 dir="ltr" style="text-align: justify;">Overview of Solidity Programming Language</h2>
<p dir="ltr" style="text-align: justify;">Solidity is a programming language, among others, for building smart contracts on blockchain frameworks, including&nbsp;<a href="https://ethereum.org/en/" target="_blank" rel="noopener">Ethereum</a>. Solidity allows developers to design decentralized applications (DApps) that run on blockchain technology. Solidity can handle blockchain transactions, smart contract implementation, and automatic processing without centralized authority.</p>
<p dir="ltr" style="text-align: justify;">Its design enables the making of structural contracts for voting, crowdfunding, blind auctions, multi-signature wallets, and many other products. The language provides inheritance, libraries, and complex user-defined types.</p>
<p dir="ltr" style="text-align: justify;">However, Solidity programming has problems that have yet to be solved. In terms of mistakes in smart contracts, the consequences can be rather costly. This underscores the need to know standard Solidity programming issues and apply the principles to prevent them in the heaving line. In the coming section, we will explore some of the typical bugs and guide how to handle the complexities of Solidity programming effectively.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710926032118.png" /></p>
<h2 dir="ltr" style="text-align: justify;">Common Issues and How to Avoid Them</h2>
<p dir="ltr" style="text-align: justify;">Solidity programming and writing smart contracts are constantly challenging tasks. Identifying and recognizing common issues and contract vulnerabilities can develop smart contracts&rsquo; dependability, security, and productivity. Let's explore some typical errors and solutions to them.</p>
<h3 dir="ltr" style="text-align: justify;">Syntax Errors and Compile-time Issues</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;Some problems with Solidity arise from syntactic and compilation time issues, like incorrect data types, visibility specifiers, or misusing language constructs.</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Debugging tools like&nbsp;<a href="https://remix.ethereum.org/#lang=en&amp;optimize=false&amp;runs=200&amp;evmVersion=null&amp;version=soljson-v0.8.24+commit.e11b9ed9.js" target="_blank" rel="noopener">Remix</a>, Truffle, or Hardhat facilitate catching these cracks in the early phases. Code convention and solidity style guide compliance can decrease syntax error quantity. Maintaining the updated status of the Solidity version and syntax deformation are equally important steps.</p>
<h3 dir="ltr" style="text-align: justify;">Null Pointer Exceptions and Runtime Errors</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;In Solidity, as in standard programming languages, runtime errors, including null pointer exceptions, may appear. It can lead to contract failure or inappropriate behavior.</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Implement extensive input validation and take advantage of &ldquo;assert,&rdquo; &ldquo;require,&rdquo; and &ldquo;revert&rdquo; conditions for error control at the runtime.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">"Require" is perfect for managing conditions related to input loads and states that the functions run on.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">"Assert " should be applied to cover internal errors and invariant checks. It burns all the gas if the malfunction happens, restraining its deployment.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">"Revert" is an essential utility that will help to create a human-readable message describing what went wrong, causing the operation to fail. It will greatly help debugging and give the users immediate feedback.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Truffle, Hardhat, and OpenZeppelin frameworks supply software developers with an advanced Solidity development environment, including testing, debugging, and deployment tools.</p>
<h3 dir="ltr" style="text-align: justify;">Memory Management Problems</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;Incorrect memory and gas storage usage would lead to higher transaction fees or burdens on the contract while performing complex functions and loops.</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Understanding the distinction between persistent and temporary memory is necessary for success. Data structures with minimal write memory can positively impact gas costs and contract efficiency.</p>
<h3 dir="ltr" style="text-align: justify;">Contract Security Vulnerabilities</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;Common security vulnerabilities entangled in contracts that are not properly audited are integer overflow/underflow, front-running, and reentrance attacks.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Secure patterns (checks-effects-interactions), using the SafeMath library for arithmetic operations, and thorough security scans with tools like&nbsp;<a href="https://mythx.io/" target="_blank" rel="noopener">MythX</a>&nbsp;or Slither can significantly improve the security.&nbsp;</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/blog/secure-smart-contract-design-best-practices-in-solidity-programming" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710926207432.png" width="100%" height="100%" /><span class="incut--text">Read more about best practices in Solidity programming for secure smart contract design.</span></a></p>
<h3 dir="ltr" style="text-align: justify;">Gas Limit and Out-of-Gas Issues</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;The gas limit exceedance is generally caused by inefficient code and unoptimized cycles.</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Smart contract code can be optimized by simplifying logic, minimizing transaction data, and applying gas-saving templates. Regression testing functions with various inputs to calculate gas consumption may assist in forecasting and preventing problems related to gas issues. "Require" statements can be inserted to eliminate redundant code.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;">Smart Contract Upgradability Challenges</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;Smart contracts remain unchanged after deployment. Nevertheless, the business logic needs to be updated, complicating the possibility of contract renewal.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Make contracts design with ease and flexibility in protocol, using some universal templates, e.g., proxy contract or diamond standard (<a href="https://eips.ethereum.org/EIPS/eip-2535" target="_blank" rel="noopener">EIP-2535</a>). With this framework, it is possible to modify the contract logic separate from the contract address and the information stored on the blockchain.</p>
<h3 dir="ltr" style="text-align: justify;">Handling External Dependencies</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;Using outsourcing or external services, the system can collapse or become vulnerable if the dependence on these entities fails or is unavailable.</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Ensure that dependencies are reliable and stable. Incorporating circuit breakers or emergency stop buttons can avoid instability and provide a fail-safe mechanism in case of unexpected behavior of an externally dependent tool.</p>
<p dir="ltr" style="text-align: justify;">Staying aware of the newest Solidity editions helps discover better options for error handling that guarantee increased security and efficiency of the smart contract development process.&nbsp;</p>
<p style="text-align: justify;">&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><a href="https://agilie.com/" target="_blank" rel="noopener">Agilie</a>, a blockchain software company, mainly uses Solidity to provide secure, productive, innovative, and high-quality blockchain solutions. The company's practice confirms the need to invest in robust error handling to create trust, an essential factor for blockchain applications.&nbsp;We are proud of our dedicated professional team that developed high-class products.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710926339320.png" width="100%" height="100%" /><span class="incut--text">Learn more about some of our fascinating projects.</span></a></p>
<p dir="ltr" style="text-align: justify;">Nonetheless, even with the most professional implementation, developers sometimes encounter problems requiring additional investigation. In the following section, we shed light on resources that all Solidity developers should have close at hand.</p>
<h2 dir="ltr" style="text-align: justify;">Resources for Troubleshooting Solidity Issues</h2>
<p dir="ltr" style="text-align: justify;">The crucial skills for developers are maintenance and accomplishing tasks. So, we have put together the main resources to help with these tasks.</p>
<h3 dir="ltr" style="text-align: justify;">Official Solidity documentation</h3>
<p dir="ltr" style="text-align: justify;">Any Solidity developer who encounters problems should first consult the&nbsp;<a href="https://docs.soliditylang.org/en/v0.8.24/" target="_blank" rel="noopener">official Solidity documentation</a>. It gives thorough guidance about language syntax, structure, and changes. The documentation segment also presents a section about common mistakes, deflection, and safety concerns, which is necessary for developers who want to write secure code.</p>
<h3 dir="ltr" style="text-align: justify;">Ethereum Stack Exchange</h3>
<p dir="ltr" style="text-align: justify;"><a href="https://ethereum.stackexchange.com/" target="_blank" rel="noopener">Ethereum Stack Exchange</a>&nbsp;is a gold mine of information where developers pose questions and make comments on an array of Solidity issues. It is an active group that brings junior and highly experienced programmers together to seek or provide interesting and complicated solutions.</p>
<h3 dir="ltr" style="text-align: justify;">Solidity GitHub</h3>
<p dir="ltr" style="text-align: justify;"><a href="https://github.com/ethereum/solidity/issues" target="_blank" rel="noopener">Solidity GitHub&nbsp;</a>is the resource where the developers can search past and existing issues for bugs, features, and solutions from the Solidity community.</p>
<h3 dir="ltr" style="text-align: justify;">Remix IDE</h3>
<p dir="ltr" style="text-align: justify;"><a href="https://remix.ethereum.org/#lang=en&amp;optimize=false&amp;runs=200&amp;evmVersion=null&amp;version=soljson-v0.8.24+commit.e11b9ed9.js" target="_blank" rel="noopener">Remix IDE</a>&nbsp;is an online open-source IDE and desktop application that allows the development of Solidity contracts. The feature set includes static analysis that could help identify issues before deployment. The Remix IDE is one of the vital tools for developers whose aim is quick prototyping and debugging smart contracts.</p>
<h3 dir="ltr" style="text-align: justify;">Community forums and the Internet space</h3>
<p dir="ltr" style="text-align: justify;">Platforms such as Reddit, specifically the&nbsp;<a href="https://www.reddit.com/r/ethdev/?rdt=46443" target="_blank" rel="noopener">r/ethdev subreddit</a>, and other online social media make it an ideal place for getting advice, sharing experiences, and staying up to date with the latest solutions and practices in Solidity development.</p>
<h3 dir="ltr" style="text-align: justify;">Educational platforms and courses</h3>
<p dir="ltr" style="text-align: justify;">Many online courses cover Solidity and Ethereum development topics, ranging from beginner to expert levels. The learning environment in these courses frequently involves practical exercises that offer for-the-instance projects, which provide valuable experience in figuring out and problem-solving in real-world situations.</p>
<p style="text-align: justify;">&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Certainly, you can contact Agilie, the company that successfully cowers blockchain development and provides support. We'll be happy to make suggestions and ensure we have a better solution for your project.&nbsp; Also, you can find a lot of helpful information on our&nbsp;<a href="https://agilie.com/blog" target="_blank" rel="noopener">blog</a>.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710926445619.png" width="100%" height="100%" /><span class="incut--text">Find out more about our blockchain software development services.</span></a></p>
<p dir="ltr">Decentralized technology is shifting the reality, as it is supported by a community of developers proficient in relevant skills and technology. We are interested in future trends and development directions and are glad to share this information with you in the coming section.</p>
<h2 dir="ltr" style="text-align: justify;">Future of Smart Contract Security</h2>
<p dir="ltr" style="text-align: justify;">The fast-paced development of the digital sphere constantly reinvents smart contract security, too. This arena is marked by an ongoing arms race: developers and security specialists introduce useful security tools, and attackers, in turn, come up with new channels of attack. In this ever-changing ecosystem, tracking new trends and technological innovations is also a key issue for all contract systems developers. Let's discuss some future major trends.</p>
<h3 dir="ltr" style="text-align: justify;">Formal verification</h3>
<p dir="ltr" style="text-align: justify;">Formal verification consists of mathematical demonstration that smart contracts are correct according to their specified purpose to ensure they work smoothly. Accepting this approach as a development tool is anticipated to greatly cut the number of expensive bugs and Solidity vulnerabilities in smart contracts.</p>
<h3 dir="ltr" style="text-align: justify;">The rise of the security oracles</h3>
<p dir="ltr" style="text-align: justify;">Security oracles will execute external services that provide the smart contract with real-time security data, such as notifications of known vulnerabilities or when a security incident occurs across the network. Smart contracts can be updated in response to new security threats by connecting with security oracles.</p>
<h3 dir="ltr" style="text-align: justify;">Quantum-resistant smart contracts</h3>
<p dir="ltr" style="text-align: justify;">The introduction of quantum computing places the supporting cryptographic methods that underlie blockchain security at risk. This has prompted an effort to create quantum-resistant algorithms for smart contracts. This out-of-box methodology aims to make smart contracts possible even with the capabilities of quantum computers.</p>
<h3 dir="ltr" style="text-align: justify;">Automating security audits and AI</h3>
<p dir="ltr" style="text-align: justify;">The future of smart contract security is closely linked to the growing adoption of artificial intelligence and machine learning. These technologies can scan smart contracts on a larger scale and pinpoint the vulnerabilities promptly, accurately, and efficiently.</p>
<p style="text-align: justify;">&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Developing applications with a deep comprehension of blockchain technology and a progressive approach to development and security, Agilie becomes a reliable partner for companies willing to securely enter the area of smart contract creation.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710926488996.png" width="100%" height="100%" /><span class="incut--text">Connect with Agilie to transform ideas into a secure and innovative reality.</span></a></p>
<h2 dir="ltr">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">Solidity is a programming language mainly used to create smart contracts and Decentralized Apps (DApps) on the Ethereum virtual machine. Since the blockchain landscape is dynamic and changing daily, Solidity programming complications and security issues will also grow and develop correspondingly. Developers can drastically improve smart contracts&rsquo; quality and dependability by knowing common mistakes and using available resources. Agilie, with its great expertise in blockchain programming, provides customers with highly technological and efficient solutions, ensuring that smart contracts become more secure.</p>
<p>&nbsp;</p>

<p>Explore the most common Solidity issues and find out the best practices on how to avoid them with Agilie.</p>

Explore the most common Solidity issues and find out the best practices on how to avoid them with Agilie.

What Are the Most Common Solidity Issues and How to Avoid Them?

<p dir="ltr" style="text-align: justify;">Web 3.0 is a critical point, showing that the more intelligent the Internet is, the more tasks it executes and the simpler it is to access. This year, 2024, will offer increasing opportunities and invite entrepreneurs to keep themselves at the innovation line of scenery as they have the potential to grow, be innovative, and achieve results.</p>
<p dir="ltr" style="text-align: justify;">In the article, we consider key tendencies of the Web 3.0 ecosystem that can cause main shocks in business from 2024 to the future. Let's start the journey together from the front line of the digital age.</p>
<div id="form-description" class="form-description" style="text-align: left;" data-title="Key Takeaways " data-text="Web 3.0 is the digital revolution, indicating a more integrated, intelligent Internet that guarantees growth and success.

Web 3.0 provides new areas of involvement, protection, safety, and personalization opening up a vast dimension of digital participation.

The latest Web 3.0 trends affect the business environment, improve customer experience, and contribute to competitiveness in different industries.">
<div class="form-description-title">Key Takeaways</div>
- Web 3.0 is the digital revolution, indicating a more integrated, intelligent Internet that guarantees growth and success.&nbsp;<br />- Web 3.0 provides new areas of involvement, protection, safety, and personalization, opening up a vast dimension of digital participation.&nbsp;<br />- The latest Web 3.0 trends affect the business environment, improve customer experience, and contribute to competitiveness in different industries.</div>
<h2 dir="ltr" style="text-align: justify;">Advancement of Interoperability</h2>
<p dir="ltr" style="text-align: justify;">In Web 3.0, interoperability means that various blockchain protocols and platforms can interact without obstacles and stand at the same level. Many things can be immediately sent and utilized through networks, from documents to finances.</p>
<p dir="ltr" style="text-align: justify;">One of the major trends of 2024 will be the improvement of interoperability, which leads to increased integration of financial services and further customer-centricity. Thus, DeFi can become compatible with several blockchain networks so that users can obtain different assets and services without being forced to deal with blocked assets in any network. Such steps aim to support the user experience and thereby contribute to developing a wider, more diverse, and inclusive financial environment.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710760508632.png" /></p>
<h2 dir="ltr" style="text-align: justify;">Welcoming Virtual Identities</h2>
<p dir="ltr" style="text-align: justify;">The coming age of Web 3.0 calls forth significant changes, where virtual identities and digital wallets become more pronounced, thus modernizing the character of online interaction and transactions. Distinct from the traditional model, Web 3.0 is based on the concepts of decentralization and user-driven systems.</p>
<p dir="ltr" style="text-align: justify;">Digital wallets in Web 3.0 can hold cryptocurrency, be an identity and credentials representative in the blockchain, and have a secure and mobile way of accessing Web 3.0 services without giving personal data to third parties.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><a href="https://agilie.com" target="_blank" rel="noopener">Agilie</a>, the software development company, applies web3 identity solutions, improving user experience and security through blockchain encryption and distributed networks, reducing data breaches and fraud risks.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Our professional developers created a crypto wallet, which has been a great success.&nbsp;</p>
<p style="text-align: left;"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/success-stories/wallex" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710760577826.png" width="100%" height="100%" /><span class="incut--text">Find out more about the Wallex project.</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Utility NFTs Taking Center Stage</h2>
<p dir="ltr" style="text-align: justify;">NFTs' evolution from digital art collectibles to something more functional is a crucial change in the digital infrastructure regarding how companies leverage blockchain technology. With&nbsp;<a href="https://agilie.com/blog/secure-smart-contract-design-best-practices-in-solidity-programming" target="_blank" rel="noopener">smart contract</a>&nbsp;technology automating the transactions and conditions, NFTs create a point of reference between digital assets and ownership.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">The application areas range from simplifying transactions and verifying physical assets to creating a more realistic and interactive digital world.</p>
<p dir="ltr" style="text-align: justify;">Agilie prioritizes embedding NFTs into software solutions, resulting in a system where digital tokens improve the experience and introduce new features. Our development process stresses a modular design that allows NFTs to be easily integrated into the existing systems. We devised modern NFT technology in projects like Lolypto.</p>
<p dir="ltr" style="text-align: justify;"><a href="https://agilie.com/success-stories/lolypto" target="_blank" rel="noopener">Lolypto</a>&nbsp;is Agilie's innovative NFT and AI-based Chat game app. People and cryptocurrency are merged through live video streaming, AI, and NFT technologies. This combination gives the possibility to play, learn, have fun, and master the technology at the same time.</p>
<p style="text-align: left;"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/blog/from-concept-to-reality-nft-game-development-explained" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710760648455.png" width="100%" height="100%" /><span class="incut--text">Find out more about NFT development.</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Blockchain in Banking and Financial Services</h2>
<p dir="ltr" style="text-align: justify;">Blockchain technology integration in banking and financial services is one of the most disruptive Web 3.0 trends that could entirely remake the current fintech landscape. This occurs because the blockchains provide the greatest certainty, visibility, and efficiency for transactions and data administration. Smart contracts integrate and enforce the contract terms, thus producing minimal chances of fraud and error and ensuring compliance with regulatory standards. Blockchain technology is aimed at simplifying and accelerating financial processes, from payments to cross-border transactions, which is done by eliminating intermediaries and significantly reducing the transaction time from several days to seconds.</p>
<p dir="ltr" style="text-align: justify;">Agilie combines years of experience in the fintech industry with practice-proven technologies to deliver reliable software development solutions to meet clients&rsquo; requirements.</p>
<p style="text-align: left;"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/expertise/fintech" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710760722531.png" width="100%" height="100%" /><span class="incut--text">Find out more about fintech software development services.</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Decentralized Metaverse</h2>
<p dir="ltr" style="text-align: justify;">The decentralized Metaverse is constructed on a Web 3.0 approach using blockchain technologies that enable an enormous and boundless network of virtual spaces where users can interact, transact, and create in a decentralized manner without a single controlling structure. Metaverse makes things easier and provides more autonomy, privacy, and security than the previous system could support. People can own, purchase, and sell digital money verifiably to become a part of the virtual economy and social, educational, and professional activities in a complete and lasting environment.</p>
<p dir="ltr" style="text-align: justify;">The fundamental rules consist of creating and managing digital assets via NFTs, constructing secure and efficient networks that can support numerous transactions, and the development of user-friendly interfaces.</p>
<p dir="ltr" style="text-align: justify;">Agilie's professionals provide secure and efficient blockchain application development and use technical expertise to ensure clients benefit from blockchain, leading to higher efficiency, security, and customer engagement.</p>
<p dir="ltr" style="text-align: left;"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710760767435.png" width="100%" height="100%" /><span class="incut--text">Learn more about our blockchain software development services.</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Web 3.0 and AI Integration</h2>
<p dir="ltr" style="text-align: justify;">The&nbsp;<a href="https://agilie.com/blog/ml-ai-and-fintech-how-maching-learning-and-artificial-intelligence-help-you-benefit" target="_blank" rel="noopener">AI</a>&nbsp;role in Web 3.0 has shifted towards individualizing the user experience and improving efficiency. Using machine learning algorithms and data analytics, AI goes as far as understanding user likes and preferences, their behavior, and needs to provide personalized content, recommendations, resources, and services.</p>
<p dir="ltr" style="text-align: justify;">Integrating AI-driven insights in fintech enables more precise risk assessment, fraud detection, and customer service. Utilizing AI with blockchain technologies optimizes smart contract efficiency and automates more complex transactions, minimizing costs and enhancing transaction speed.</p>
<p dir="ltr" style="text-align: justify;">Agilie's AI development prioritizes product scalability, security, and user-centricity. Our solutions are designed to be integrated into the existing systems, which provide organizations with a competitive advantage in offering prompt and individualized services.</p>
<p dir="ltr" style="text-align: left;"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710760817722.png" width="100%" height="100%" /><span class="incut--text">Discover Agilie&rsquo;s solutions in our projects.</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Expansion of DeFi</h2>
<p dir="ltr" style="text-align: justify;">The rise of Decentralized Finance (DeFi) plays the role of Web 3.0 innovative element. DeFi platforms allow all users control over their assets with secure, transparent, and instant transactions. The scope for financial operations extends from lending and borrowing to trading and investing without intermediaries, reducing costs and improving efficiency. The smart contracts embedded in the DeFi platforms' framework also bring forward programmable transactions. This lowers the risk of fraud and commitment errors. Our inspired&nbsp;<a href="https://agilie.com/company" target="_blank" rel="noopener">developer team</a>&nbsp;designs DeFi platforms that support the security of digital assets, hold large volumes of transactions, and can be interoperable with other blockchain platforms.&nbsp;</p>
<p dir="ltr" style="text-align: left;"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/blog/secure-smart-contract-design-best-practices-in-solidity-programming" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710760862330.png" width="100%" height="100%" /><span class="incut--text">Read more about secure smart contact design and tools.</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Government Regulation</h2>
<p dir="ltr" style="text-align: justify;">The decentralization of Web 3.0 has many advantages, such as privacy, security, and access. However, it raises questions of accountability and consumer protection. The instances of fraud, hacking, and the misuse of decentralized platforms have emphasized the need for a law to manage the risks without choking innovation. Intellectual property (IP) rights, privacy, data protection, the use of artificial intelligence (AI), and other emerging technologies are legal topics covered by the Web 3.0 regulation that will be improved and expanded in the future. Engineers and companies should prioritize compliance and stay updated with the ever-changing adjustments.</p>
<p dir="ltr" style="text-align: justify;">These trends will shape 2024 and transform business. Let's go ahead and summarize how.</p>
<h2 dir="ltr" style="text-align: justify;">Transformative Impacts of Web 3.0 Trends on Business</h2>
<p dir="ltr" style="text-align: justify;">Web 3.0 trends have a significant and diverse impact on businesses. They have the potential to transform the industry landscape in the next ways:</p>
<ol style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Decentralization and increased security.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Enhanced transparency and credibility.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Efficiency and speed of service increased.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Improved access and interaction.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Innovative financial products and services.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Improved customer experience.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Interoperability and cross-platform integration.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Regulatory adaptation and compliance.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Competitive differentiation.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Market development and new income sources.</p>
</li>
</ol>
<p dir="ltr" style="text-align: justify;">Companies that skillfully incorporate and adjust to these trends pave the way for innovations, upgrades, and rethinking financial services of the digital era with a trusted technology partner.</p>
<h2 dir="ltr" style="text-align: justify;">Agilie: Your Trusted Partner in Navigating Web 3.0</h2>
<p dir="ltr" style="text-align: justify;">With the changing nature of Web 3.0, searching for a reliable development partner that corresponds to the complex balance between innovation, user experience, and compliance with regulations is essential. Agilie's team, with profound knowledge of technological, legal, and market factors, influences the Web 3.0 space. Our expertise includes software blockchain and fintech development, banking and payment solutions, and more. Therefore, our customers always get comprehensive and tailored products and services. Together, we will craft the technology of tomorrow! Just&nbsp;<a href="https://agilie.com/contacts" target="_blank" rel="noopener">contact us</a>.</p>
<h2 dir="ltr" style="text-align: justify;">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">Web 3.0 will generate new heights and opportunities to reinvent businesses in 2024. The switch to a transparent and easy-to-use decentralized digital space means a new dawn for innovation, security, and growth. The trends of decentralized finance, digital identities, interoperability, AI, NFT, and many others have fundamental changes that will define business models, customer interaction, and market structure for the future.</p>
<p dir="ltr" style="text-align: justify;">Agilie has proven technical skills, industry experience, and innovative thinking to engineer secure, effective, and progressive solutions.</p>
<p dir="ltr" style="text-align: justify;">Please fill out our contact form to find out how Agilie can be a part of your business' success using Web 3.0 technologies.</p>
<p style="text-align: left;"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710760924903.png" width="100%" height="100%" /><span class="incut--text">Transform your future! Fill out our contact form.</span></a></p>

<p>Explore the transformative potential of Web 3.0 trends for businesses in 2024 and beyond with Agilie to prepare for the digital future.</p>

Explore the transformative potential of Web 3.0 trends for businesses in 2024 and beyond with Agilie to prepare for the digital future.

Web 3.0 in 2024: Key Trends and Their Impact on Business

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<p dir="ltr"><span id="docs-internal-guid-49ffd438-7fff-8b2b-56a6-9ebf6d7d4209">Find out the real AR app cost and explore all the details of the augmented reality app development with Agilie.</span></p>

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<p dir="ltr" style="text-align: justify;">The blockchain environment is constantly growing as new cases and applications appear unprecedentedly. The creation of smart contracts is becoming progressively more sophisticated in tandem with this quick expansion. Solidity-written smart contracts are the foundation for decentralized apps (dApps) on&nbsp;<a href="https://ethereum.org/" target="_blank" rel="noopener">Ethereum</a>&nbsp;and other blockchain systems, automating agreements and transactions without intermediaries. However, there is the risk of irrevocable money loss or data leakage if smart contract security is weak. Solidity programming language is still the most popular for developing smart contracts, so it is essential to comprehend and put security best practices into effect. Agilie's dev team draws on Solidity programming, risk reduction, and defense against possible threats in the blockchains to provide information about smart contract security design.</p>
<div id="form-description" class="form-description" style="text-align: justify;" data-title="Key Takeaways " data-text="- Solidity is the primary language for smart contract development; therefore, being familiar with and avoiding vulnerabilities will be key for safe smart contract development. 
- Using tools including static analysis, formal verification, security audits, etc. assists professionals in smart contract development to identify and avoid known risks. 
- This article covers the advanced tools and techniques that smart contract developers can use to guarantee security and optimize their blockchain-based solutions.">
<div class="form-description-title">Key Takeaways</div>
- Solidity is the primary language for smart contract development; therefore, being familiar with and avoiding vulnerabilities will be key for safe smart contract development. <br />- Using tools including static analysis, formal verification, security audits, etc. assists professionals in smart contract development to identify and avoid known risks. <br />- This article covers the advanced tools and techniques that smart contract developers can use to guarantee security and optimize their blockchain-based solutions.</div>
<h2 dir="ltr" style="text-align: justify;">Understanding Smart Contract Vulnerabilities</h2>
<p dir="ltr" style="text-align: justify;">Before we go further into smart contracting, we should identify the common vulnerabilities in developing these virtual structures. Smart contract creation can succeed or fail depending on the proper use of Solidity language. We have prepared an introduction list consisting of the most frequent security issues during smart contract development:&nbsp;&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Re-entrancy attacks</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Arithmetic overflows and underflows</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Gas limit issues</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Front-running</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Dependence on timestamps</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Short address/parameter attack</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Code reuse</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Delegate call injection</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">One of the main questions is how to prevent these vulnerabilities and develop safe smart contracts. Let&rsquo;s continue with the exploration of this topic.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1709638436467.png" /></p>
<h2 dir="ltr" style="text-align: justify;">Best Practices in Solidity Programming</h2>
<p dir="ltr" style="text-align: justify;">Utilizing the best industry practices in Solidity programming is an effective way to avoid common vulnerabilities and errors, increase efficiency, and ease of maintenance, ensuring that blockchain app is reliable. The following practices of top Solidity programmers aid in developing secure and highly efficient smart contracts.</p>
<h3 dir="ltr" style="text-align: justify;">Use Latest Solidity Compiler Version</h3>
<p dir="ltr" style="text-align: justify;">Prepare smart contracts based on the newest detectable version of the Solidity compiler that has been considered by the developers and eliminated known vulnerabilities beforehand.</p>
<h3 dir="ltr" style="text-align: justify;">Limitations on contract size</h3>
<p dir="ltr" style="text-align: justify;">The implementation will become invalid as the size of large contracts can go beyond the supported maximum size limit of the Ethereum virtual machine. The larger the codebase of a contract, the smarter it is when broken down into a few simple contracts that interact.</p>
<h3 dir="ltr" style="text-align: justify;">Data location</h3>
<p dir="ltr" style="text-align: justify;">Grasping the difference between storing and keeping Solidity data in the memory is key. Storage is indefinite and hence expensive, while memory is ephemeral and low-priced. Blockchain developers can cut gas bills and enhance efficiency by providing proper contract storage.</p>
<h3 dir="ltr" style="text-align: justify;">Explicit visibility specifiers</h3>
<p dir="ltr" style="text-align: justify;">Guarantee the visibility of a function and variable by explicitly stating them. Solidity has "public" functions by default meaning that anyone can call them. Such situations can expose the hidden functions at risk if the sensitive functions are illegally open. Select "private" or "internal" for functions and variables that should not be accessed outside the contract, and "external" for functions that will be called only externally.</p>
<h3 dir="ltr" style="text-align: justify;">Avoiding loops and recursions</h3>
<p dir="ltr" style="text-align: justify;">Recursive calls and loops may unintentionally exhaust gas and exceed the block gas limit. Loops operate on variable-sized data structures or recursive calls, which can give way to unnecessary gas consumption or DoS attacks due to gas exhaustion. So, it is better to avoid them.</p>
<h3 dir="ltr" style="text-align: justify;">SafeMath for arithmetic operations</h3>
<p dir="ltr" style="text-align: justify;">Use the SafeMath library for arithmetic operations to guard against overflows and underflows.</p>
<h3 dir="ltr" style="text-align: justify;">Deploy security patterns and audits</h3>
<p dir="ltr" style="text-align: justify;">Deploy security patterns, validate, and do not neglect the re-entry locker system. Accordingly, accurate audits, including automatic analysis and manual code inspection, are of great need in finding and taking measures for possible weaknesses.</p>
<h3 dir="ltr" style="text-align: justify;">Event logging</h3>
<p dir="ltr" style="text-align: justify;">Log key activities of the contract by using events. Events contribute to debugging and are like a screen that shows the whole process and all the steps, which increases responsibility and confidence in the process.</p>
<p dir="ltr" style="text-align: justify;">Integrating these leading practices into Solidity programming is a great start. Agilie, as a blockchain software development company, is well-versed in all the blockchain intricacies.&nbsp;<a href="https://agilie.com/company" target="_blank" rel="noopener">Our team</a>&nbsp;of developers with extensive experience is ready to create secure smart contracts and scalable blockchain applications to meet all client's needs and provide full technical support.&nbsp;</p>
<p dir="ltr"><a href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"> </a><a class="incut--wrap" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"> <img style="float: left;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1709642370637.png" width="100%" height="100%" /> <span class="incut--text">Learn more about some of our successful cases.</span> </a></p>
<p dir="ltr" style="text-align: justify;">We offer to discover what tools and techniques for&nbsp;<a href="https://agilie.com/blog/smart-contract-development" target="_blank" rel="noopener">smart contracts</a>&nbsp;security Agilie&rsquo;s team uses and recommends.</p>
<h2 dir="ltr" style="text-align: justify;">Tools and Techniques for Security</h2>
<p dir="ltr" style="text-align: justify;">As blockchain network gets more intricate and valuable, the need for accurate tools and methods to protect against fraud also increases. Let's analyze a set of tools that developers can use to detect weaknesses, make application faster, and carry out testing.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1709638525346.png" /></p>
<h3 dir="ltr" style="text-align: justify;">Static analysis tools</h3>
<p dir="ltr" style="text-align: justify;">Static analysis is the procedure of reading and examining the code without running it to find various vulnerabilities, coding errors, and deviations from best practices. The Ethereum development community extensively applies tools like Slither, Mythril, and Solhint to aid in this task.</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Slither:</strong>&nbsp;Solidity's static analysis platform which, identifies vulnerabilities, for example, access to re-engines, untested low-level calls, arithmetic faults, and code improvement opportunities.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Mythril:</strong>&nbsp;the open-source security analysis tool for Ethereum smart contracts. It executes symbolically, finds contamination, and performs control-flow verifications to unveil various security vulnerabilities and ensure contracts comply with security best practices.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Solhint:&nbsp;</strong>This linter serves as a tool to provide style and security rules for Solidity code. It includes safety regulations and stylistic recommendations ensuring smart contracts are secure and simple to maintain.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The static analysis builds into the lifecycle of the developers. As a result, the early detection and elimination of security flaws occur.</p>
<h3 dir="ltr" style="text-align: justify;">Formal verification</h3>
<p dir="ltr" style="text-align: justify;">Formal verification is a strict mathematical method that will either enforce or negate the correctness of smart contract algorithms that depict certain formal specifications or properties. This step is embodied in constructing a mathematical representation of a smart contract and using tools like the K Framework or Isabelle.</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>K Framework:</strong>&nbsp;Open source framework, which lets to declare, write, and formally confirm the system functionality.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Isabelle/HOL:&nbsp;</strong>An assistant for the higher logic that enables the performance of the formal proofs to verify the properties of the smart contracts. This fact is highly important for use in complicated contracts, where the highest precision and reliability are required.</p>
</li>
</ul>
<h3 dir="ltr" style="text-align: justify;">Dynamic Analysis and Testing Frameworks</h3>
<p dir="ltr" style="text-align: justify;">Dynamic analysis involves the smart contracts' running and checking in a controlled environment to dig out the vulnerabilities not discovered by static analysis. The most commonly used tools include Ganache and Echidna.</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Ganache:&nbsp;</strong>aspect of the Truffle Suite, a personalized Ethereum development blockchain capable of deploying contracts, developing apps, and executing tests.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Echidna:</strong>&nbsp;a smart contract parser for Ethereum written in Haskell. Echidna applies the property-based testing technique to generate random inputs for contract functions and detect faults.</p>
</li>
</ul>
<h3 dir="ltr" style="text-align: justify;">Security audit</h3>
<p dir="ltr" style="text-align: justify;">A security audit needs a manual review of the contract code by security analysts to locate any possible vulnerabilities or logical errors that have not been identified by automated tools.</p>
<p dir="ltr" style="text-align: justify;"><a href="https://agilie.com" target="_blank" rel="noopener">Agilie</a>&nbsp;intends to improve the security of the smart contracts by adopting these advanced instruments and approaches in the development process, which includes 6 steps:</p>
<p dir="ltr" style="text-align: justify;"><strong>Step 1:</strong> Creating a smart contract concept.</p>
<p dir="ltr" style="text-align: justify;"><strong>Step 2:&nbsp;</strong>Choosing the platform.</p>
<p dir="ltr" style="text-align: justify;"><strong>Step 3:</strong> Tools selection.</p>
<p dir="ltr" style="text-align: justify;"><strong>Step 4:</strong> Development.</p>
<p dir="ltr" style="text-align: justify;"><strong>Step 5:&nbsp;</strong>Testing.</p>
<p dir="ltr" style="text-align: justify;"><strong>Step 6:</strong> Deployment.</p>
<p dir="ltr" style="text-align: justify;">This creates an environment where customers and partners experience object-oriented, efficient, and reliable blockchain solutions.</p>
<p dir="ltr"><a class="incut--wrap" href="https://agilie.com/blog/smart-contract-development" target="_blank" rel="noopener" aria-label="incut"> <img style="float: left;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1709642511998.png" width="100%" height="100%" /> <span class="incut--text">Read more about the smart contract development process.</span> </a></p>
<h2 dir="ltr" style="text-align: justify;">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">The issue of smart contract security is one of great concern along with the fast development of blockchain technology. Developing a secure smart contract design is very important, which is a fundamental responsibility of users and customers who use digital agreements in many applications. Among many programming languages, Solidity is the most prominent for Ethereum smart contracts. It features some powerful elements but also comes with obstacles for the developers. Using newer versions of the compilers, knowing the smart contract secrets and vulnerabilities, implementing advanced security measures, and following the newest instructions are also vital, alongside the utilization of up-to-date tools and methods for security flaw detection.</p>
<p dir="ltr" style="text-align: justify;">Agilie always learns about the newest research results and tendencies in the&nbsp;<a href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener">blockchain</a>&nbsp;field, to make its methods perfect for secure smart contracts. We welcome you to understand how our dev team can help you to accomplish your blockchain development needs. Together, we will create an innovative and secure world for the blockchain technology.&nbsp;</p>
<p><a class="incut--wrap" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener" aria-label="incut"> <img style="float: left;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1709642563261.png" width="100%" height="100%" /> <span class="incut--text">Learn more about blockchain software development services.</span> </a></p>

<p><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-ligatures: normal; font-variant-alternates: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">​​</span><span style="font-size: 11pt; font-family: Roboto, sans-serif; font-variant-ligatures: normal; font-variant-alternates: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Learn how to avoid Solidity vulnerabilities and create secure smart contracts with Agilie's recommendations.</span></p>

​​Learn how to avoid Solidity vulnerabilities and create secure smart contracts with Agilie's recommendations.

Secure Smart Contract Design: Best Practices in Solidity Programming

<p dir="ltr" style="text-align: justify;">The popularity of non-fungible tokens (NFTs) used in games has been one of the significant changes in the gaming industry. The evolution of NFTs within the gaming sector underscores a broader shift towards more inclusive, interactive, and rewarding gaming experiences. Agilie, as a software development company, explored the dynamics of NFTs, from their initial adoption to their role in fostering a new era of gaming, to implement the most advanced technologies and create more exciting, interactive, and secure gaming solutions.&nbsp;&nbsp;</p>
<div id="form-description" style="text-align: justify;" data-title="Key Takeaways " data-text="- NFTs have opened a new era in gaming by allowing players to own, trade, and exchange digital assets supported by blockchain. 
- The number of users in the NFT market is predicted to reach 16.35 million by 2028. 
- The significant impact of the NFT&rsquo;s future in gaming depends on security, scalability, and a safe environment for players. Our team implemented them at Lolypto to meet the latest requirements.">
<div id="form-description" class="form-description">
<div class="form-description-title">Key Takeaways</div>
- NFTs have opened a new era in gaming by allowing players to own, trade, and exchange digital assets supported by blockchain. <br />- The number of users in the NFT market is predicted to reach <a href="https://www.statista.com/outlook/fmo/digital-assets/nft/worldwide" target="_blank" rel="noopener">16.35 million</a> by 2028. <br />- The significant impact of the NFT&rsquo;s future in gaming depends on security, scalability, and a safe environment for players. Our team implemented them at Lolypto to meet the latest requirements.</div>
</div>
<h2 dir="ltr" style="text-align: justify;">The Introduction of NFTs in Games</h2>
<p dir="ltr" style="text-align: justify;">Blockchain technology creates NFTs that determine every token's authentication, ownership, and origin. In traditional games, such items, like skills, skin, weapons, or characters, are limited and are controlled by the game developers. NFTs remove this limitation so that they can be bought, sold, and exchanged within and outside the game. Blockchain technology&rsquo;s transparency, traceability, and security eliminate the risks associated with digital property (e.g., identity theft and unauthorized access).</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1709200076292.png" /></p>
<h2 dir="ltr" style="text-align: justify;">The Evolution of NFTs in the Gaming Industry</h2>
<p dir="ltr" style="text-align: justify;">The gaming industry is increasing, as is the demand for non-fungible tokens (NFTs) and&nbsp;<a href="https://agilie.com/blog/ultimate-guide-on-how-to-create-an-nft-marketplace" target="_blank" rel="noopener">NFT marketplaces</a>. We have explored the main NFT evolutionary stages in the gaming sector:</p>
<ol style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Initial adoption.</strong>&nbsp;NFT appeared in the middle of the 2010s. In 2017, the CryptoKitties game was launched and gained popularity. It allowed gamers to own NFT cats on the Etherum blockchain with the ability to buy, accumulate, breed, or sell their virtual cats as a form of investment.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Growth and expansion.</strong>&nbsp;After the previous NFT-related games' success, developers have begun to incorporate these tokens into the context of a wider variety of game assets (characters, skills, weapons, and virtual lands). This step started creating more complex blockchain-based games and virtual worlds like &ldquo;Decentraland&rdquo; and &ldquo;The Sandbox.&rdquo;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>High popularity.</strong>&nbsp;Gaming companies and startups started using NFTs as an interactive feature of their games and platforms. However, supporters and opponents of the measure were there to voice their opinion. The first ones considered it as a technical breakthrough. In contrast, the second one cast doubt on long-term ecology, gameplay, and community prospects and intensified speculation on the crypto market.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Innovation and diversification.</strong>&nbsp;The developers already started working on the elaboration of new game formats. In addition, the focus is on avoiding the environmental impact of NFTs through more efficient blockchain technologies and exploring a fusion model that combines traditional games with blockchain elements.</p>
</li>
</ol>
<p dir="ltr" style="text-align: justify;">Is the boom of NFT likely to last in the future? Absolutely! However, the impact will manifest in strengthening regulatory standards, ethical practice, security, and innovation.</p>
<p style="text-align: justify;">&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Agilie develops NFT gaming platforms that are technologically advanced and user-centered. We explore new ways to incorporate NFTs into games, follow trends, and apply our years of experience to create successful projects.</p>
<p dir="ltr"><a href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"> </a><a class="incut--wrap" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"> <img style="float: left;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1709204634091.png" width="100%" height="100%" /> <span class="incut--text">Learn more about our projects. </span> </a></p>
<h2 dir="ltr" style="text-align: justify;">Agilie's NFT Gaming Innovations</h2>
<p dir="ltr" style="text-align: justify;">In this burgeoning era of NFT-driven gaming experiences, Agilie stands at the fore, translating these evolving trends into tangible, innovative gaming solutions.&nbsp;<a href="https://agilie.com/company" target="_blank" rel="noopener">Our team</a>&nbsp;of passionate and dedicated people has created a fascinating game called Lolypto, and we are eager to share our experience and all the insights. Please get comfortable, and let&rsquo;s discover our successful project together.</p>
<p><a class="incut--wrap" href="https://agilie.com/success-stories/lolypto" target="_blank" rel="noopener" aria-label="incut"> <img style="float: left;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1709204674294.png" width="100%" height="100%" /> <span class="incut--text">We are excited to share our Lolypto development experience! </span> </a></p>
<h3 dir="ltr" style="text-align: justify;">Introduction to Lolypto</h3>
<p dir="ltr" style="text-align: justify;"><a href="https://lolypto.com/" target="_blank" rel="noopener">Lolypto</a>&nbsp;is Agilie's innovative NFT and AI-based Chat game app. Using live video streaming, AI, and NFT technologies, it brings people and cryptocurrency together. Such a combination lets users enjoy playing while earning and increases the technology's familiarity with a wide audience.</p>
<p dir="ltr" style="text-align: justify;">The app is being developed for those who:&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">are tired of boring cryptocurrency games but still want to game for additional money;&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">are playing for relaxation and meeting new people;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">are interested in collecting NFTs;&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">want to be a stakeholder in an ambitious project.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Lolypto is a Web3 game based on the &ldquo;You laugh, you lose&rdquo; concept where users play with real people using NFT characters. They can sell and buy NFTs with their wallets and win real coins.</p>
<p dir="ltr" style="text-align: justify;">What makes Lolypto unique among products? This game:&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">allows users to purchase cryptocurrency via third-party services (like Moonplay and Circle);&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">uses AI to determine whether users are smiling;&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">integrates the play2earn concept based on BNB and users&rsquo; own tokens;&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">is based on video chatting with friends or real people worldwide.</p>
</li>
</ul>
<h3 dir="ltr" style="text-align: justify;">NFT Integration in Lolypto</h3>
<p dir="ltr" style="text-align: justify;">Joker is an in-game character that players can upgrade with NFTs, level up to earn extra benefits, and sell some items. The NFT items add additional points to the Joker&rsquo;s attribute. So, let's explore what exact items can be bought and sold as NFTs.</p>
<p dir="ltr" style="text-align: justify;"><strong>Joker Attributes:</strong></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Stamina: number of daily games.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Craziness: cost (in earning tokens) to repair the joker.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Elegance: the higher the points, the higher the earnings.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;"><strong>Joker Skills:</strong></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Sound effects.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Animations.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Voice changer.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Face effects.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;"><strong>Joker Classes:</strong></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Common (basic sounds and animations).</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Rare (unique sounds and animations).</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Epic (face masks).</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Legendary (voice changer).</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;"><strong>Joker upgrade types:</strong></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Buy and assign items.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Buy Level up and allocate points</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The variety of NFT elements allows players to diversify their game and earn more.</p>
<h3 dir="ltr" style="text-align: justify;">Marketplace and Economy in Lolypto</h3>
<p dir="ltr" style="text-align: justify;">The architecture includes the possibility to support different blockchains, which is a priority during the investment-raising period. Initial minting costs for the vast amount of NFTs that are not needed. Agilie&rsquo;s team developed a layered mechanism that enables us to produce multiple NFTs (currently, we can generate more than 15 million NFTs, but it can be increased easily). We made it a point to maintain the solution to be fast and scalable.</p>
<p dir="ltr" style="text-align: justify;">Earning token has an unlimited supply and is earned when a user plays a Video Chat Game.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Token Burning mechanics:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Heal Joker.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Level Joker up.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Assign items to characters.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Remove the item from the character.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Buy more daily games.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The initial solution on Binance blockchain is keeping security as a top priority. We have encrypted all data, especially custodial wallet Information and the rest, via many AWS environmental tools. Both frontend and backend parts are communicated through authorized security protocols. Two-factor authentication is used to protect users from losing their coins. One of our most important tasks and desires was to create a safe and player-driven economy.</p>
<p style="text-align: left;"><a class="incut--wrap" href="https://agilie.com/blog/blockchain-payments" target="_blank" rel="noopener" aria-label="incut"> <img src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1709204739879.png" width="100%" height="100%" /> <span class="incut--text">Discover how blockchain is transforming payments.</span> </a></p>
<h3 dir="ltr" style="text-align: justify;">Development Solutions and Challenges&nbsp;</h3>
<p dir="ltr" style="text-align: justify;">The Lolypto project team includes 10 developers who share their experience and passion to finish this project in 6 months. They provide the following solutions:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Conduct the&nbsp;<a href="https://agilie.com/blog/project-discovery-phase" target="_blank" rel="noopener">discovery phase</a>&nbsp;to know everything about competitors.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Make technical research to create a prototype.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Collaborate based on the flexible&nbsp;<a href="https://agilie.com/blog/what-is-the-software-development-life-cycle-sdlc-and-how-does-it-work" target="_blank" rel="noopener">SDLC</a>.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Integrate class-based gamification to remotely change configurations, game balances, and setups A/B testing.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Distinguish the smile probability using the AI model.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Publish native-based applications in iOS and Android stores.</p>
</li>
</ul>
<p style="text-align: justify;">&nbsp;</p>
<p dir="ltr" style="text-align: justify;">What about challenges to overcome? Well, the development team:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Tested more than 20 SaaS solutions with different approaches.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Implemented elements of several different methods that rely on ML-kit, dynamic configuration, extra cloud-based solutions to confirm the prediction, internet speed connection, distance between camera and player, lightning, anti-fraud, etc.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Made Lolypto check the content to avoid exposing fraud, nudity, abusive users, etc.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Collected necessary game analytics to measure and predict player's behavior.</p>
</li>
</ul>
<h3 dir="ltr" style="text-align: justify;">Impact of Lolypto on Gaming Trends</h3>
<p dir="ltr" style="text-align: justify;">Lolypto contributed to current gaming trends: Web3, NFTs, AI, and social responsibility. Lolypto is a Web3 game with an NFT concept&nbsp; security and creating a safe play-driven economy. It uses AI to distinguish users&rsquo; smiles and has AI-based chat.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Lolypto relieves stress, anxiety, and depression, and what is even more important is donating a portion of its proceeds from sales to charitable organizations to help fight for suicide awareness and prevention.</p>
<p dir="ltr" style="text-align: justify;">The app users can also get involved in crypto philanthropy by auctioning off their NFT Jokers and donating to a crypto-friendly nonprofit. NFT Jokers are not just fun to look at and collect, they could be directed to help save lives.</p>
<p dir="ltr" style="text-align: justify;">So, Lolypto is an innovative force in the gaming industry, influencing future trends in AI, NFT integration, and social responsibility.</p>
<p><a class="incut--wrap" href="https://agilie.com/expertise" target="_blank" rel="noopener" aria-label="incut"> <img style="float: left;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1709204788888.png" width="100%" height="100%" /> <span class="incut--text">Agilie is a software development expert that provides businesses with the best industry-focused solutions. </span> </a></p>
<h2 dir="ltr" style="text-align: justify;">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">The evolution of NFTs in the gaming area indicates how the future gaming experience could be more inclusive, interactive, and rewarding. Our NFT research and implementation have brought us knowledge of the market, and the years of working experience allow Agilie to make each product very special. We provide&nbsp;<a href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener">blockchain software</a>&nbsp;development services that shape the future.</p>
<p dir="ltr" style="text-align: justify;">Thanks to the combination of AI, real-time video streaming, and NFT tech, Lolypto represents our idea of creating fun, exciting, profitable, and socially responsible games.</p>
<p dir="ltr" style="text-align: justify;">Innovation, security, and player satisfaction are central to our pursuit, and we can&rsquo;t wait to start new projects that will improve the gaming experience.&nbsp;</p>
<p dir="ltr" style="text-align: left;"><a class="incut--wrap" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"> <img src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1709204826016.png" width="100%" height="100%" /> <span class="incut--text">Be a part of this amazing journey with us as we move to reshape the gaming world. Contact us!</span> </a></p>
<p style="text-align: justify;">&nbsp;</p>

<p><span style="white-space: pre-wrap; font-family: Arial, sans-serif; font-size: 14.666667px;">Explore the NFT game development: from the evolution of digital assets in gaming to creating NFT and AI-based game Lolypto.</span></p>

Explore the NFT game development with Agilie: from the evolution of digital assets in gaming to creating NFT and AI-based game Lolypto.

From Concept to Reality: NFT Game Development Explained

<p dir="ltr" style="text-align: justify;">In 2024, the fintech industry will gather at numerous events worldwide, each providing a unique perspective into the future of finance and technology. These conventions will be devoted to various topics such as digital advances, customer engagement, blockchain, AI and machine learning, process improvement, and many others. The collection in key financial centers around the globe will be quite profitable for learning, networking purposes, and showcasing the newer demos in fintech. They are intended to upgrade the sector.</p>
<p dir="ltr" style="text-align: justify;"><a href="https://agilie.com" target="_blank" rel="noopener">Agilie</a>, as a software development expert in the fintech industry, is excited to tell you about the top events this year to attend. Let&rsquo;s explore them.</p>
<h2 dir="ltr" style="text-align: justify;"><a href="https://informaconnect.com/finovateeurope/purchase/select-package/" target="_blank" rel="noopener">Finovate Europe</a></h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708940295831.jpg" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 27-28 February</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: Intercontinental O2, London</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: &pound;2,199.00 + 20% VAT &pound;439.80</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">FinovateEurope is a leading fintech conference focused on cutting-edge financial technology innovations and networking opportunities for accelerated growth in the sector. With a turnout of over 1000 influential individuals, boasting more than 500 representatives from the financial industry, and showcasing over 35 fintech demos, this event offers valuable insights. Topics include sustainable finance, generative AI, financial literacy, AML regulations, identity authentication, and personalization. This gathering provides senior personnel from banks to investors with the perfect opportunity to engage in discussions centered around the future of finance while fostering connections.</p>
<h2 dir="ltr" style="text-align: justify;"><a href="https://finextcon.com/" target="_blank" rel="noopener">FiNext</a></h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708940192060.webp" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 28-29 February</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: Dubai</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: $1,199</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The FiNext Conference gathers various professionals in the finance industry. It allows tech startups, SMEs, investors, and incumbent providers to share experiences and forge partnerships. The main topics of this event are banking security, corporate cash management strategies, and cloud IT platforms.</p>
<h2 dir="ltr" style="text-align: justify;"><a href="https://moneylive-insights.com/events/summit/" target="_blank" rel="noopener">MoneyLive Summit</a></h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708940514207.jpg" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 6-7 March</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: QEII Centre, London</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: &euro;1,899.00 + VAT</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The MoneyLIVE 2024 Summit delves into key banking and payments topics: the global economy, changes related to artificial intelligence and Web 3.0, innovative payment solutions, open finance initiatives, lending strategies, digital currencies, and the future of the CBDCs member countries' payment infrastructure. The summit also explores fraud prevention and using digital identifiers and anti-money laundering. Overall, it is a comprehensive event highlighting macroeconomic forecasts and presenting the latest developments in the industry.</p>
<h2 dir="ltr" style="text-align: justify;"><a href="https://financialbrandforum.com/" target="_blank" rel="noopener">The Financial Brand Forum</a></h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708940763182.jpg" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 20-22 May</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: Las Vegas, NV (Aria Hotel Resort)</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: $2995</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The Financial Brands Forum is aimed at banking and financial services professionals specializing in marketing, CX, data analytics, and digital transformation. The event provides valuable insights into achieving growth through the newest strategies, trends, and technologies in financial services.</p>
<h2 dir="ltr" style="text-align: justify;"><a href="https://europe.money2020.com/" target="_blank" rel="noopener">Money 20/20 Europe</a></h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708940923052.png" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 4-6 June</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: Amsterdam</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: &euro;3,295 + sales tax 21%</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Money20/20 Europe is a notable fintech event made up of innovations in the area of human and machine collaborations. The conference highlights the transformation of consumer and business interactions via technology, which aims to boost efficiency and experience anew in the financial domain. It attracts about 8,500 visitors, 390+ sponsors, and 350+ speakers from more than 100 countries, symbolizing its worldwide reach and source of various opinions and ideas to the fintech industry.</p>
<h2 dir="ltr" style="text-align: justify;"><a href="https://events.altaworld.tech/Insurance-Tech-Innovation-Conference.html" target="_blank" rel="noopener">Insurance Tech &amp; Innovation Conference</a></h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708941203815.jpg" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 12-13 June</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: Chicago, USA</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: $899</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The Insurance Tech Innovation Conference highlights improving customer experiences using modern engagement models such as chatbots, omnichannel assistance, and other innovative solutions. Attendees will explore how digital changes have disrupted traditional insurance processes using analytics, blockchain technologies, and cloud systems. It also covers process transformation through RPA, legacy system modernization, automated compliance, and developing a roadmap for claims transformation and virtual claims handling.&nbsp;</p>
<h2 dir="ltr" style="text-align: justify;"><a href="https://fintechdevcon.io/" target="_blank" rel="noopener">Fintech Devcon</a></h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708941450043.png" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 7-9 August</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: Austin, Texas</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: $995</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Fintech DevCon is an esteemed gathering for developers in the fintech field. The event equips attendees with practical tools, best practices, and insider information from experienced current practitioners while strictly adhering to a no-sales pitch guideline. This conference strives to provide comprehensive insights into technical elements of fintech development through informative sessions that delve deeper into rising technologies, new methodologies of development, and inventive solutions pertaining specifically to this domain.</p>
<h2 dir="ltr" style="text-align: justify;"><a href="https://informaconnect.com/finovatefall/?vip_code=FKV2474LABS&amp;utm_source=PartnerMarketing&amp;utm_medium=web_listing&amp;utm_campaign=FKV2474-FintechLabs-web_listing&amp;utm_term=PartnerMarketing&amp;utm_content=FKV2474LABS&amp;tracker_id=FKV2474LABS" target="_blank" rel="noopener">FinovateFall</a></h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708941822353.jpg" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 9-11 September</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: New York</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: $2,698</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">FinovateFall focuses on the forefront of financial technology innovations, featuring over 70 product demos on a wide array of financial services technology, including blockchain, digital banking, and AI. It highlights 100+ innovators addressing the current financial climate, offering insights to navigate future challenges. The event is a hub for meaningful connections, with over 50% of attendees from financial institutions, including representation from the top 10 US banks. It's an essential conference for staying updated on fintech advancements and networking within the industry.</p>
<h2 dir="ltr" style="text-align: justify;"><a href="https://eblockchainconvention.com/" target="_blank" rel="noopener">European Blockchain Convention (EBC)</a></h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708942002220.jpg" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 25-26 September</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: Barcelona</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: &euro;1,999 + 10% VAT</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The European Blockchain Convention covers digital assets and finance, including tokenization and CBDCs; Web3 technologies such as the metaverse and NFTs; infrastructure developments like smart contracts and DApps; policy discussions on regulation and standards; and blockchain enterprise applications in supply chain and identity. It gathers industry leaders to discuss the future of blockchain in various sectors.</p>
<h2 dir="ltr" style="text-align: justify;"><a href="https://us.money2020.com/" target="_blank" rel="noopener">Money 20/20</a></h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708942228750.jpg" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 27-30 October</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: Las Vegas</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: $3,999</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Money20/20 is a major event that seeks to bridge the gap between humans and machines in the financial sector to transform consumer and business interactions. It gives a podium to the top sector leaders and the outcasts to elaborate on the future of money, including digital currencies, payment innovation, and fintech solutions. The event provides a platform for the participants of the global money ecosystem, such as banks, financial services, and financial tech startups, to explore new ways of collaboration and innovation.</p>
<h2 dir="ltr" style="text-align: justify;"><a href="https://www.fintechtalents.com/events/london/" target="_blank" rel="noopener">Fintech Talents Festival</a></h2>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708942390810.jpg" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 11-12 November</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: London</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Fintech Talents Festival covers innovation in financial technology, including discussions on digital banking, payment technologies, regulatory challenges, and the impact of emerging technologies like blockchain and AI on the fintech industry.</p>
<h2 dir="ltr" style="text-align: justify;">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">2024 is rich with leading fintech events around the world. For experts who desire to be abreast of the latest developments in the fintech area, these knowledge databases offer a new level of detail as regards new technologies, strategic plans, and networking. Agilie, as a fintech industry&nbsp;<a href="https://agilie.com/expertise" target="_blank" rel="noopener">software development expert</a>, has prepared a list of the most significant events in this sector that will provide companies with information on trends and news to innovate each enterprise.</p>
<p style="text-align: justify;"><br /><br /></p>

<p><span style="white-space: pre-wrap; font-family: Arial, sans-serif; font-size: 14.666667px;">Explore the top fintech events 2024 to learn the latest trends and upgrade businesses with Agilie.</span></p>

Explore the top fintech events 2024 to learn the latest trends and upgrade businesses with Agilie.

Top FinTech Events 2024

<p dir="ltr" style="text-align: justify;">Welcome to the next stage of banking! Neobanks, online financial institutions, offer faster services and better user experiences. Did you realize that the global neobanking market will rise by a compound annual rate of 54.8% from 2023 to 2030? Rapid development is evidence of a new tendency toward digital-only financial solutions. Staying informed about security and technological advancement is crucial for protection, innovation, and opportunity. This article is designed to come up with the top edge trends that will shape the neobanking this year. Let&rsquo;s dive into the world of banking innovation that makes financial services more inclusive, safe, and attuned to the digital-savvy generation.</p>
<div id="form-description" class="form-description" data-title="Key Takeaways " data-text="The neobanking business attracts more customers and enters new markets with a prediction to get 386.30 million users by 2028.

Attention to the latest trends helps offer modern, effective, and secure banking solutions.

Neobanks integrates biometric security technology, AI-based assistance, personalization, and cryptocurrency for secure, user-friendly, and individualized services. ">
<div class="form-description-title">Key Takeaways</div>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" style="text-align: left;" role="presentation">The neobanking business attracts more customers and enters new markets with a prediction to get 386.30 million users by 2028.</p>
</li>
<li dir="ltr" style="text-align: left;" aria-level="1">
<p dir="ltr" role="presentation">Attention to the latest trends helps offer modern, effective, and secure banking solutions.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" style="text-align: left;" role="presentation">Neobanks integrates biometric security technology, AI-based assistance, personalization, and cryptocurrency for secure, user-friendly, and individualized services.&nbsp;</p>
</li>
</ul>
</div>
<h2 dir="ltr" style="text-align: justify;">Neobanking trends</h2>
<p dir="ltr" style="text-align: justify;">Neobanking transforms regular banking through the combination of advanced tech to ensure security, efficiency, and availability to customers. Let&rsquo;s study the latest neobank trends to compete and successfully establish in the market.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713786619753.png" /></p>
<h3 dir="ltr" style="text-align: justify;">Open Banking</h3>
<p dir="ltr" style="text-align: justify;">Open banking is a new trend in neobanking based on APIs that bring more capacity for banks to share their data and functionality with other third-party developers. Its purpose is to make the banking system more transparent for the customers and to foster a competitive environment. Benefits include personal financial services, faster loan approvals, and better financial management instruments. Open banking encourages the emergence of healthier competition and collaboration among traditional banks and fintech startups with innovative solutions. Open banking is all about improving customers&rsquo; experience and financial management.</p>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713786641468.png" /></p>
<h3 dir="ltr" style="text-align: justify;">Banking-as-a-Service (BaaS)</h3>
<p dir="ltr" style="text-align: justify;">BaaS is a model where digital banks and fintech use the licensed infrastructure of traditional banks to provide their services. This model provides non-bank financial providers with an opportunity to build banking services into their products without the same regulatory and financial requirements. BaaS platforms function as intermediaries by offering real-time banking services like payment processing, credit facilities, and account management through APIs. This changing face of financial services prompts an overall reevaluation of how companies view financial services with creativity, to ensure an excellent customer experience and to yield additional revenue channels for companies outside the usual area of financial services.</p>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713786680811.png" /></p>
<h3 dir="ltr" style="text-align: justify;">AI-powered Assistance</h3>
<p dir="ltr" style="text-align: justify;">Artificial intelligence developments in neobank take into account machine learning algorithms to digest customer data, determine their needs, and forecast requests. These models propose automatic payments or reminders to prevent missed or late fees through monitoring purchase details, browsing behaviors, and inquiries.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><strong>For example:</strong>&nbsp;&nbsp;If the users upload the bills close to the end of the month, the assistant AI will remind them of the upcoming payments or even suggest automatic payments in the future to avoid late fees.</p>
<p dir="ltr" style="text-align: justify;">Natural language processing (NLP) technology has significantly improved, so virtual assistants can now process human language with a degree of complexity that matches and even exceeds that of humans. Bank users can talk to their neobank in a dialogue, with banking getting more altered and less scary. The cutting-edge NLP algorithms can grasp the context, tone, and purpose of a query, which allows them to handle more complex questions and provide naturally relevant responses.</p>
<p dir="ltr" style="text-align: justify;">Virtual assistants can now manage complex conversations and act on virtually many transactions, from single account inquiries to more complicated financial advice-giving and support of decision-making. This transformation reduces the tasks of human staff and gains clients for round-the-clock support. Neobanks will use AI-powered assistants to automate routine operations, which will ultimately free up human resources to focus on more strategic initiatives and thus, lowering operational costs.</p>
<p><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/ml-ai-and-fintech-how-maching-learning-and-artificial-intelligence-help-you-benefit" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713786779007.png" width="100%" height="100%" /><span class="incut--text">Learn more about AI and ML solutions in fintech.&nbsp;</span></a></p>
<h3 dir="ltr" style="text-align: justify;">Hyper-personalization</h3>
<p dir="ltr" style="text-align: justify;">AI is the most valuable in the process of hyper-personalization because it enables the analysis of big data and the creation of insights and predictive models. Based on these models, companies can predict future consumer behavior and perform timely actions. As an illustration, if a customer&rsquo;s spending pattern suggests upcoming obvious cash flow issues, the neobank&rsquo;s AI system can prioritize and offer a customized plan of overdraft protection or short-term credit while customers are prepared to cover the bills without any financial strain.</p>
<p dir="ltr" style="text-align: justify;">Neobanks have a real-time personalization advantage, mainly because of their AI capability to process data in a split second. When the user interacts with the neobank&rsquo;s app or website, the AI assesses this behavior and displays the interface and the services accordingly.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><strong>For example:</strong>&nbsp;If the user checks the exchange rates frequently, the AI could display updated news on currency, inform about rate changes, and suggest an upgrade to a multi-currency bank account service.</p>
<p><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/success-stories/chameleon-pay" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713786904675.png" width="100%" height="100%" /><span class="incut--text">Learn more about Agilie&rsquo;s development process of a multi-digital wallet app.</span></a></p>
<p dir="ltr" style="text-align: justify;">Neobanks apply data analytics to figure out users&rsquo; financial behavior and lifestyle preferences, which leads to segmenting the customer base into specific groups and profiles and then rolling out products to meet individual needs.</p>
<p dir="ltr" style="text-align: justify;">Neobanks offer real and tailored solutions that assist in the development of customer credibility and solidity. They foster adhesion and retention via the process of offering personalized financial information, specialized product selection, and proactive customer support. Artificial intelligence can identify new business clients and improve personalization to boost the relationship.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713786928262.png" /></p>
<h3 dir="ltr" style="text-align: justify;">Crypto Integration</h3>
<p dir="ltr" style="text-align: justify;">Neobanking platforms incorporate cryptocurrency services into their offerings, using blockchain technology for trading, investment, and crypto storage for tech-savvy clients and by meeting the growing demand for easy-to-understand and secure cryptocurrency services.</p>
<p dir="ltr" style="text-align: justify;"><strong>Cryptocurrency Trading:</strong>&nbsp;Neobanks incorporate cryptocurrency buying, selling, and exchanging infrastructure within the app interfaces, allowing users to trade cryptos like traditional currencies. Sophisticated functionality includes smart bots, real-time data analysis, and alerts.</p>
<p><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/steps-in-our-neobank-development-process" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713787033192.png" width="100%" height="100%" /><span class="incut--text">Discover how to develop a successful neobank in 2024.&nbsp;</span></a></p>
<p dir="ltr" style="text-align: justify;"><strong>Cryptocurrency Investment:</strong>&nbsp;Neobanks provide structured cryptocurrency investment products such as savings accounts and sophisticated financial products like crypto index funds and staking pools to create easy access to the welcoming environment for newbie investors.</p>
<p dir="ltr" style="text-align: justify;"><strong>Secure Storage Solutions:</strong>&nbsp;Neobanks goes a step further with secure storage solutions for digital assets, including insured wallets with multiple authentication options like biometric access controls, multi-signature, and decentralized backup systems assuring a secure and safe environment for customers.</p>
<p dir="ltr" style="text-align: justify;">Neobanks enhance customer knowledge and offer resources on investment risks, cryptocurrency, market dynamics, and security practices. This approach helps users interact and build trust around the service.</p>
<p><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/expertise/fintech" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713787089626.png" width="100%" height="100%" /><span class="incut--text">Learn more about Agilie&rsquo;s fintech software development services.&nbsp;</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">Neobanking is reshaping the banking landscape through continuous innovation and customer-centric change through the use of sophisticated biometric security, AI assistants, hyper-personalization, and cryptocurrency services. Such trends are changing banking into a secure, customer-focused, and technologically merged service. Neobanks respond to the changing times and form technology-driven solutions to overcome competition and support growth in the digital era. The continued success of neobanks lies in their capability to incorporate new technologies with a consumer-oriented approach.</p>
<p dir="ltr" style="text-align: justify;">Agilie is a reliable partner in neobanking and fintech innovation, with solutions designed individually to match demands and exceed them.&nbsp;<a href="https://agilie.com/company" target="_blank" rel="noopener">Our team</a>&nbsp;has the competencies in regulatory compliance to guarantee that businesses engage with the complexities swiftly. Agilie provides continuous support and tactical insights, so clients can adjust and succeed in the financial sector.</p>
<p><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713787138819.png" width="100%" height="100%" /><span class="incut--text">Contact us and make your idea a skyrocketing reality. </span></a></p>

<p>Stay ahead in the fast-growing fintech industry and explore the neobanking trends in 2024 with Agilie.</p>

Stay ahead in the fast-growing fintech industry and explore the neobanking trends in 2024 with Agilie.

Neobanking Trends 2024

<p dir="ltr" style="text-align: justify;">Digital banking is a powerful tool that serves to reshape and redefine traditional banking and competition. Banks should know the problems and hazards associated with this transformation to survive. Cybersecurity is the basis of digital banking trust and is the most needed tool to fight against cyber threats and develop the best fraud prevention strategies. The industry is simultaneously tackling unimaginable opportunities and impenetrable barriers, with success depending on innovation, consumer-oriented strategies, and information security. Agilie's team prepared the list of cyber threats for digital banks, prevention plans, as well as challenges to stay aware and run a successful digital bank.</p>
<div id="form-description" class="form-description" data-title="Key Takeaways" data-text="Digital banking has many challenges, such as cybersecurity, technical advancements, compliance, interoperability, and intense competitiveness.

Digital banks have to fight against phishing, malware, ransomware, data breaches, API security vulnerabilities, and the poor security of third-party services to keep their clients&rsquo; private information intact and to protect their reputations.

Digital banks have to innovate in terms of user experience and efficiencies in the operational tasks to get through the complex regulatory landscape and in synchronization of data and real-time processing without interrupting the standard operations.">
<div class="form-description-title">Key Takeaways</div>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" style="text-align: left;" role="presentation">Digital banking has many challenges, such as cybersecurity, technical advancements, compliance, interoperability, and intense competitiveness.</p>
</li>
<li dir="ltr" style="text-align: left;" aria-level="1">
<p dir="ltr" role="presentation">Digital banks have to fight against phishing, malware, ransomware, data breaches, API security vulnerabilities, and the poor security of third-party services to keep their clients&rsquo; private information intact and to protect their reputations.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" style="text-align: left;" role="presentation">Digital banks have to innovate in terms of user experience and efficiencies in the operational tasks to get through the complex regulatory landscape and in synchronization of data and real-time processing without interrupting the standard operations.</p>
</li>
</ul>
</div>
<h2 dir="ltr" style="text-align: justify;">Cybersecurity and Fraud Risks and Prevention in Digital Banking</h2>
<p dir="ltr" style="text-align: justify;">Safe digital banking is critically dependent on cybersecurity and fraud prevention. Let&rsquo;s look into cyber threats and find out how to prevent them.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948222726.png" /></p>
<h3 dir="ltr" style="text-align: justify;">1. Phishing Attacks and Spoofing</h3>
<p dir="ltr" style="text-align: justify;">Cybercriminals apply phishing as a form of the widely used trick aimed at social engineering to get personal and financial information. Fraudsters pretend to be the regular communication channels of financial organizations, directing unsuspecting customers to the websites where they enter their sensitive data. Digital banks make this threat impossible with the help of advanced email spam filtering, multi-factor authentication, and the continuous promotion of phishing awareness and readiness among consumers.</p>
<p dir="ltr" style="text-align: justify;">Spoofing, which is disguising, for example, as a bank and misleading users or systems, is another form of enormous threat. Spoofing can be a part of a phishing attack. It might simulate email addresses, phone numbers, or websites. Banks counter forgeries by implementing strong authentication tools such as SPF (Sender Policy Framework) and DKIM (DomainKeys Identified Mail), which are security protocols that ensure the legitimate use of communication channels.</p>
<h3 dir="ltr" style="text-align: justify;">2. Malware and Ransomware</h3>
<p dir="ltr" style="text-align: justify;">These categories of threats incorporate hackers putting dangerous software to pierce banking systems, encrypt crucial data, and demand ransom. Digital banks counter the risks of malware using comprehensive tools, frequent software updates, and robust data backup processes, which involve restoring information without giving in to ransom demands.</p>
<h3 dir="ltr" style="text-align: justify;">3. Data Breaches and Insider Threats</h3>
<p dir="ltr" style="text-align: justify;">Data breach is one of the most common cyber issues in the digital banking sector. Banks use sophisticated encryption tools, data anonymization techniques, and secure storage to reduce the risk of data breaches. Regular data security assessment and compliance with international data protection regulations are keys to data protection and customer confidence.</p>
<p dir="ltr" style="text-align: justify;">Insider threats, including the ones arising from negligence or deliberate attempts to obtain data, can cause disastrous data breaches. Banks attain this purpose by the use of sophisticated and filtered access controls, intensified employee checks, and rigorous monitoring of unusual activities.</p>
<h3 dir="ltr" style="text-align: justify;">4. API Security Vulnerabilities</h3>
<p dir="ltr" style="text-align: justify;">APIs facilitate the performance and integration of virtual banking services, yet they are vulnerable to security breaches without proper safeguarding. Proper mechanisms against API weaknesses should involve regular information security inspections, deploying API gateways, and also enforcing strict authentication principles that grant only accredited entities access to APIs.</p>
<h3 dir="ltr" style="text-align: justify;">5. Third-Party Services</h3>
<p dir="ltr" style="text-align: justify;">Many digital banks outsource services to other companies operating, which may result in service disruptions or security threats. Banks can have a strong security system in contrast to third-party services. That's why thorough inspection of third parties, consistent monitoring of their actions, and making security protocols an integral component of all third-party collaboration agreements are crucial in limiting the possibility of security gaps that could creep in through external partnerships.</p>
<p><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/steps-in-our-neobank-development-process" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948284316.png" width="100%" height="100%" /><span class="incut--text">Find out how to develop a secure and successful neobank in 2024.</span></a></p>
<h2 dir="ltr">Most Common Digital Banking Challenges</h2>
<p dir="ltr" style="text-align: justify;">Financial institutions are going through a rapid digital transformation and the accomplishment of synchronized interaction with the existing banking systems is demanding, and involves complex technical and regulatory issues.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948333689.png" /></p>
<h3 dir="ltr" style="text-align: justify;">1. Legacy Systems Compatibility</h3>
<p dir="ltr" style="text-align: justify;">Traditional banks implement outdated systems through programming languages and designs which are often incompatible with current digital banking technologies. The challenge is about how we can bring about secure, resilient technologies together with a user-friendly and interactive interface.</p>
<h3 dir="ltr" style="text-align: justify;">2. Data Synchronization and Real-Time Processing</h3>
<p dir="ltr" style="text-align: justify;">Data synchronization and real-time processing among banks constitute another challenge. They are important for the customers as they give access to their financial information anywhere. A robust and scalable data processing system can have lots of transactions processing at the same time and synchronizing among its different parts. Technology like microservices architecture and event-driven data management can facilitate this by providing efficient messaging and simultaneous updates across platforms.</p>
<h3 dir="ltr" style="text-align: justify;">3. Regulatory Compliance</h3>
<p dir="ltr" style="text-align: justify;">Interoperability also poses the question of dealing with regulatory issues, which can differ from one jurisdiction to another. Digital banks must be sure that the integration satisfies all necessary regulatory requirements, for instance, data privacy laws, AML directives, and banking secrecy acts.</p>
<p dir="ltr" style="text-align: justify;">Compliance becomes especially complicated if the digital banks need to be integrated with systems from other countries. Banks are required to invest in advanced RegTech solutions which will enable them to comply with different regulatory environments and embed secure cross-border data flows in all local compliance requirements.</p>
<h3 dir="ltr" style="text-align: justify;">4. Security Protocols</h3>
<p dir="ltr" style="text-align: justify;">The integration of different banking systems cannot lead to the weakening of platform security. Every system has its security procedures, and their alignment will be a complicated task. Building an architecture for security requires incorporating the good practices of each system and other features that will cover the functional gaps caused during the integration. Authenticating by the OAuth procedure and end-to-end encryption should be the top priority of integrity and user convenience.</p>
<h3 dir="ltr" style="text-align: justify;">5. User Experience Consistency</h3>
<p dir="ltr" style="text-align: justify;">Banks encounter the challenges of ensuring a consistent user experience when they deploy both old and new systems. Improper integration of different systems often leads to disjointed customer intervention when they are combined. Utilization of user experience (UX) principles uniformly throughout all the platforms will help in providing customers with a consistently smooth experience regardless of where they interact with the brand.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/neobanking-trends-2024" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948383769.png" width="100%" height="100%" /><span class="incut--text">Learn more about neobanking trends in 2024.</span></a></p>
<h2 dir="ltr">Competition in the Digital Banking Space</h2>
<p dir="ltr" style="text-align: justify;">Competition in the digital banking industry is fierce, as more fintech companies enter the market and traditional banks investigate how to enrich their digital offerings. The increased competition can result in lower profits and a loss of market share for the traditional banks that fail to adapt fast and offer innovative and user-friendly digital banking services.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Since competing in the digital banking space is dynamic and multi-directional, new players may find it hard to enter successfully in the race. As tech innovation is a key determinant in the digital banking and fintech market competition, the participants in this sector tend to capitalize on advanced technologies like artificial intelligence, machine learning, and blockchain to improve services' quality and efficiency, with features like real-time payment and active fraud prevention systems becoming standard. Digital banks should offer strong security measures and be finance regulation compliant to consumers to remain customers confident.&nbsp;</p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948439477.png" width="100%" height="100%" /><span class="incut--text">Learn more about Agilie&rsquo;s cases and introduce our diverse innovative solutions.&nbsp;</span></a></p>
<p dir="ltr">Digital banks make a huge push into the user experience (UX) and user interface (UI) design offerings to attract and retain users. It encompasses account opening convenience, transaction simplicity, and the ability to get financial advice through digital channels, allowing being in the market's leading class.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948458579.png" /></p>
<p dir="ltr" style="text-align: justify;">Digital banks with their flexible approaches can enter new markets very quickly and skip traditional banks, having the advantage of updating to changing regulatory environments. They propose many different financial services and customize them for particular communities. The creation of strategic partnerships between fintech enterprises, software development companies, traditional banks, and non-financial entities is a key factor in multiplying gains. Digital banks provide a cost advantage by operating with fewer operational expenses due to the non-maintenance of physical branch offices and providing services at competitive prices.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/expertise/fintech" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948504284.png" width="100%" height="100%" /><span class="incut--text">Discover our fintech software development services to create a skyrocketing neobank.&nbsp;</span></a></p>
<h2 dir="ltr">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">The digital banking setting is developing through technology, risks and challenges, requisite regulation, and a high level of market competition. The expansion and transformation of this industry bring to view an urgent need for strong digital solutions that consider security, improve the quality of the client experience, and assist in smooth and reliable integration with the existing tools. Embracing risks, challenges, and opportunities is a must-have element for any bank that wants to sustain success in the digital era.</p>
<p dir="ltr" style="text-align: justify;">Getting through this complex landscape requires the knowledge and mastery of financial technologies and their advancement, implementation, and use. Agilie, a fintech software development company, is an expert in cybersecurity, compliance, customer experience, and innovative technology integration. We can customize unique offerings to revolutionize digital banking, ensuring security, reliability, and efficiency. Partnering with Agilie will grant financial institutions a chance to surpass their competitors, turning their concerns into a springboard to growth and success.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948567418.png" width="100%" height="100%" /><span class="incut--text">Take the first step towards transforming your digital banking services. Reach out to Agilie and let&rsquo;s discuss how we can help you succeed in the fintech space.</span></a></p>

<p>Explore the challenges and risks in digital banking today, and learn how robust security and technological innovation drive success in the fintech industry.</p>

Explore the challenges and risks in digital banking today, and learn how robust security and technological innovation drive success in the fintech industry.

Risks and Challenges Awaiting Digital Banking Projects Now

<p dir="ltr" style="text-align: justify;">Neobanks represent an innovative avenue to build modern and efficient banking solutions. The major factor of the neobank&rsquo;s success is a strong digital infrastructure created by an expert development team. The team is proficient in coding and involves innovative solutions, strong security implementation, and user-oriented design. They have to ensure compliance with regulatory standards, guarantee data protection, and provide scalable solutions that meet the organization's growing needs. Agilie in this article has presented a detailed process for hiring a development team that is in line with the neobank&rsquo;s mission and vision.</p>
<div id="form-description" class="form-description" data-title="Key Takeaways" data-text="To successfully launch and operate a neobank, it's crucial to hire a skilled development team that understands fintech and digital banking. 

The process of finding the right team needs a clear vision of your needs, the usage of appropriate recruitment platforms, and comprehensive support from an expert team that offers end-to-end services.

Prioritizing strong client relationships is a factor that helps to make informed decisions based on cultural fit.">
<div class="form-description-title">Key Takeaways</div>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" style="text-align: left;" role="presentation">To successfully launch and operate a neobank, it's crucial to hire a skilled development team that understands fintech and digital banking.&nbsp;</p>
</li>
<li dir="ltr" style="text-align: left;" aria-level="1">
<p dir="ltr" role="presentation">The process of finding the right team needs a clear vision of your needs, the usage of appropriate recruitment platforms, and comprehensive support from an expert team that offers end-to-end services.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" style="text-align: left;" role="presentation">Prioritizing strong client relationships is a factor that helps to make informed decisions based on cultural fit.</p>
</li>
</ul>
</div>
<h2 dir="ltr" style="text-align: justify;">Identifying Your Needs</h2>
<p dir="ltr" style="text-align: justify;">Defining the major components of your neobank and the skills of your development team is important when starting your neobank business. This is an initial phase that builds the foundation of your project&rsquo;s possibility of success. This is a guide that will show you how to recognize members with crucial skills, experience, and expertise in this project for building a top-notch neobank creation team.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1714475062456.png" /></p>
<p dir="ltr" style="text-align: justify;"><strong>Key Roles in a Neobank Development Team</strong>&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Project Manager (PM):</strong>&nbsp;The PM controls the entire development process to ensure that the project arrives within time, budget, and specification. They provide a communication link between the developers and stakeholders.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Business Analyst (BA):</strong>&nbsp;BA has the vital role of transforming complicated financial needs into business solutions. They collaborate with stakeholders to articulate business needs, restructuring processes, and achieve compliance in the neobanking industry.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>UI/UX Designer:</strong>&nbsp;Since user experience (UX) is one of the major factors in the success of neobanking, a designer knowledgeable in user interface design (UI) is essential. They not only deal with the style and atmosphere of your virtual bank but also keep an eye on using simple designs that enhance the level of user satisfaction and engagement.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Software Developers:</strong>&nbsp;You will have to hire a mix of both front and backend developers who have experience with&nbsp;<a href="https://agilie.com/expertise/fintech" target="_blank" rel="noopener">fintech software development</a>. Frontend developers work with what users directly see and interact with in the application or website. Backend Developers work on the server side, administering the database and application logic. They should know modern programming languages and frameworks. Every software developer should prioritize security. In a neobank&rsquo;s financial nature, security is an inevitable element.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Quality Assurance (QA) Engineers:</strong>&nbsp;QA engineers are irreplaceable in the building of a perfect user interaction mechanism. They conduct the testing and debugging of the code, making sure that the software is trusted, performs well, and is free from bugs.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>DevOps Engineer:</strong>&nbsp;This function includes improving the processes of development and deployment using cloud technologies and tools, with a focus on security. This will therefore make sure that your banking platform can scale up and adapt fast to the ever-changing situations.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Operating a neobank largely involves more than technical expertise. It can only be successful if the dev team deeply understands the financial regulations, data security, and customer-centric design. The team members should possess agile workflow skills and be able to quickly and seamlessly integrate changes in the code base, processes, and environment. But how to find candidates? We will share our recommendations in the next chapter.&nbsp;</p>
<h2 dir="ltr" style="text-align: justify;">Finding Candidates</h2>
<p dir="ltr" style="text-align: justify;">The next key step is to find the appropriate candidates. Whether you're after a single node or a full development team, using the right platforms can immensely ease the process. Here's how you can handle the recruitment landscape masterfully.</p>
<h3 dir="ltr" style="text-align: justify;">Utilizing Professional and Job-Specific Platforms</h3>
<p dir="ltr" style="text-align: justify;"><strong>LinkedIn:</strong>&nbsp;It is a critical network for professionals. Look through the LinkedIn profiles of the applicants to gain insights into their background, former project involvement, and professional acquaintances. It&rsquo;s also a good placement for posting job ads and getting to a wide audience of professionals looking for new jobs.</p>
<p dir="ltr" style="text-align: justify;"><strong>GitHub:</strong>&nbsp;Linked to technical jobs, especially for software developers, GitHub is of utmost importance. It offers the ability to review the previous work of candidates, analyze their coding style, and comprehend their contributions to different projects. This is a key factor in assessing a developer's technical expertise.</p>
<p dir="ltr" style="text-align: justify;"><strong>Industry-specific sites:</strong>&nbsp;Sites such as Clutch, Manifest, GoodFirms, and IT Firms concentrate on rating and reviewing technology service companies. They comprise customer reviews, ratings, and detailed profiles of companies that specialize in the development of software, including neobank solutions.</p>
<p dir="ltr" style="text-align: justify;"><strong>Clutch</strong>&nbsp;is a suitable resource for locating development firms as it focuses on B2B services only. To make a successful search, apply appropriate keywords and filters, as well as pay attention to the service focus and portfolio of every company. Pay attention to clients&rsquo; reviews, credibility, and in-depth case studies. Client reviews help to tell about project management, communication, and results. Look through in-depth case studies to see how the firm goes about projects and how they approach complexity. Make sure the team has the appropriate technical abilities and a reputation among clients for delivering excellent results to be successful.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Agilie stands apart as a highly-ranked company on platforms such as Clutch because client reviews document our customer-oriented approach, innovative solutions, and solid software development abilities. These awards are a testament to our unwavering resolve to provide reliable, scalable, and secure digital banking services.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1714475178760.png" /></p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1714476206917.png" /></p>
<p dir="ltr">Client testimonials and expert reviews bring in information about a firm&rsquo;s dependability, quality, and performance. Choosing candidates from these sources guarantees an experienced development squad that can create a neobank.</p>
<p dir="ltr" style="text-align: justify;">Additionally, we would like to emphasize client relationships, and we will discuss this in the next chapter.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1714475303351.png" width="100%" height="100%" /><span class="incut--text">Learn more about us by visiting our website.</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Client Relationships&nbsp;</h2>
<p dir="ltr" style="text-align: justify;">Launching a neobank is a process of several steps that require constant communication between you and the development team members. An exemplary team of professionals having in-depth abilities and being client-oriented will be the determining factor of the project.</p>
<p dir="ltr" style="text-align: justify;">A development team that prioritizes client relationships is essential for several reasons.</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Communication:</strong>&nbsp;Clarity, consistency, and transparency are the cornerstones that will ensure that there is a collective understanding and proper implementation of the vision. This methodology solves the problem of misunderstandings and saves the sustainable alignment of the project under the goals.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Flexibility:</strong>&nbsp;Being up-to-date with the latest demands and alterations is highly critical in the constantly changing sector of fintech. A team that fully understands the industry environment, market, and customer requirements will have the highest capability to react to the market change and will help you to be the market leader.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Support:</strong>&nbsp;The support from the start to the end, as well as after launching, is critical for problem-solving and scaling the solution when your business grows.</p>
</li>
</ul>
<h3 dir="ltr" style="text-align: justify;">Agilie&rsquo;s Approach to Client Relations</h3>
<p dir="ltr" style="text-align: justify;">At Agilie, we consider our customer relations equally valuable as our technological competencies. We are delighted to describe our approach to client communications.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><strong>Personalized Service:</strong>&nbsp;Each customer is distinctive, and so does their peculiar requirements. We appoint a designated project manager to every project. This manager functions as a link between our customers and our development team, guaranteeing that every correspondence is relevant and responds to the necessities and preferences of our clients.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><strong>Proactive Engagement:</strong>&nbsp;We don&rsquo;t just react to problems; we prevent them. During all stages of development, our team makes regular check-ins and updates to keep you informed about the progress of the project and to gather your references on crucial decisions. Our team implements preventive practices to neutralize threats before they turn into problems.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><strong>Transparent Processes:</strong>&nbsp;Transparency is an integral part of our activities. We bring development progress and financial expenditures right on time. This transparency ensures trust and there are no hidden actions.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><strong>Long-term Partnership Focus:</strong>&nbsp;Agilie aims at long-term relationships. We offer ongoing support and development services to help you adjust to the future growth of your neobank.</p>
<p dir="ltr">According to our clients, they value Agilie's ability to listen, adapt, meet deadlines, and consistently deliver high-quality results.</p>
<p dir="ltr">&nbsp;&nbsp;&nbsp;<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1714475404994.png" width="100%" height="100%" /><span class="incut--text">Learn more about our case studies and how we have created marvelous projects.</span></a></p>
<h2 dir="ltr">Making the Decision</h2>
<p dir="ltr" style="text-align: justify;">Selecting the right development team for your neobank is a critical choice that will greatly affect the fate and path of your project. This choice should be based on both technical skills and cultural fit evaluation. We will take you through the evaluation process to make an informed hiring decision.</p>
<p dir="ltr" role="presentation"><strong>1. Assessing Technical Expertise:</strong></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Review Portfolios and Case Studies</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Check References and Testimonials</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Evaluate Technical Presentations or Pitches</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Consider requesting a technical assessment</p>
</li>
</ul>
<p dir="ltr" role="presentation"><strong>2. Considering Cultural Fit</strong></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Communication Style</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Project Management Approach</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Values and Vision</p>
</li>
</ul>
<p dir="ltr" role="presentation"><strong>3. Balancing Cost and Value</strong></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Cost Efficiency vs. Investment Return (A higher upfront cost might be justified by superior quality and longer-term savings in maintenance and scalability)</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">As you make your choice, keep in mind how Agilie interacts with the technical and cultural sides of the project. We value your opinion as it is our success indicator, as well as the success of your bank.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/steps-in-our-neobank-development-process" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1714475720919.png" width="100%" height="100%" /><span class="incut--text">Find out our neobanking development process and its price in our article.</span></a></p>
<h2 dir="ltr">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">Hiring a neobank development team is a complicated step, and its thoroughness is critical. The main part of this process includes:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">identifying your needs,&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">finding candidates,&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">building relationships,&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">making the ultimate choice.&nbsp;</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Hiring process efficiency involves evaluating technical skills, cultural alignment, communication, and a potential for a long-term relationship. The technical expertise will guarantee that the project is done according to the highest standards, and cultural alignment will create a collaborative environment. Effective communication and excellent client relationships will result in the development of better solutions that satisfy all customer needs.</p>
<p dir="ltr" style="text-align: justify;">Through proper screening of prospective alliances, understating their strengths and weaknesses, and choosing a partner who relates to both your technical requirements and your company's culture, we can guarantee scalable, user-centric, and time-tested neobank.&nbsp;</p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1714475762130.png" width="100%" height="100%" /><span class="incut--text">Contact Agilie to realize your vision with the utmost dedication, expertise, and success.</span></a></p>

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