This startup client approached us with the idea of developing a cryptocurrency exchange platform. We, as a team, worked with the client to get this idea off the ground and took it to the next level. We delivered a fully operational next-generation solution, which supports all the established digital currencies as well as emerging digital currencies. With competitive leverage, our Blockchain solution offered an efficient, easy and secure way of cryptocurrency trading.
Working with a startup posed its own set of challenges to us. Being new to the field, the client was not clear with its objectives and their requirements kept changing from time to time. We gave them the best possible suggestions and clarified how it would be the right way forward. Besides this, as a startup, the client had a very limited budget and we had to execute the whole project without exceeding this limit. The other key challenges that we faced while working on this platform are: Business Challenges- One of the key business challenges faced by our team was to integrate new blockchains to the crypto exchange platform, facilitating currency trading with leverage and offering online wallet, fiat and crypto exchange, crypto deposit or withdrawal support and crypto-asset transfer between accounts. We had to achieve all these with additional care for security. The other business challenge for our team was to keep up with the fast pace and quickly evolving client requirements. Owing to the increasing competition in the market with various rivals working on their own currency trading solutions, the client wanted to gain from the first-mover benefit, fixing a timeline to launch the platform within 3 months. As for the changing needs, we had to work on an advanced trading platform that outpaces any present offering available to the market traders. Tech Challenges- Integrating Third-Party Providers One of the tech challenges of this project was related to the complexity of the trading domain and integrating various third-party providers. We provided an anti-corruption layer over the points of integration to solve this issue and were successful in developing an extensive and safe platform that can be easily modified as per evolving needs. Setting Up an Infrastructure- Setting up microservices efficiently was yet another tech challenge that we encountered. During the process, we also had to keep the infrastructure costs in mind so that we didn’t cross the projected maintenance cost limits. We resolved this problem by combining as many AWS pay-per-usage tools and SaaS providers as possible.
The solution that we provided has different use cases: Secure Wallet- We introduced a secure and dedicated wallet for keeping both fiat and cryptocurrencies, enabling currency exchanges, deposits, withdrawals and transfers. We integrated this solution with the exchange. This wallet solution is now the main deposit and withdrawal gate for all cryptocurrencies that are newly added to the client’s exchange. Trading Dashboard- The trading platform solution offers the same benefits as that of the wallet architecture but has an extended trading dashboard with competitive leverage. Adding New Cryptocurrencies- We were constantly adding new cryptocurrencies to the market of the client as a part of blockchain integration. This increased the trading pair diversities for users. Irrespective of the use case, the developed solution supports several established and evolving cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH), Ripple (XRP), Dash (DASH), EOS (EOSIO) and Monero (XMR) to name a few.