Digital Currency Exchange Platform DCEP Software Development

Digital Currency Exchange Platform (DCEP) is a highly designed, developed & concreted B2C application that offers its users not one but multiple on-demand sophisticated trading features and analytics never seen, heard, or experienced before. Inbase Partners, the brand name behind the Digital Currency Exchange Platform (DCEP) , is a financial technology development firm, providing custodial trading solutions for digital/traditional financial markets and came up with a revolutionary idea, offering enhanced flexibility to customers of the trading world. NetSet fused the theoretical concepts of their business idea and came up with a corporate application that completely satisfies their needs. The development was made to transition in two phases (at first) Phase 1 & 2 that centered towards online currency exchange and in-app investment being the first and Physical Currency Deposit & Withdrawals being the second.

The challenges while working on the 1st phase was usually dealing with creating all the possible scenarios of matching one user’s requirements with the other based on their -Choose your own rate fee -Time of order placement ‘N’ number of complexities were deduced making ‘X’ number of permutations and combinations to define data sets for the matching engine. This was the hardest and the most time-consuming phase that attracted added-efforts and cost to the project. Along with the users, the time of their request also had a great roleplay in matching one user’s requirement with the other that was to be closely managed considering the input time of each user along with their currency needs. Looking at the sensitivity and the scope of the project, NetSet aligned the best of its adroit professionals and a team of experts to get hands-on the digital product development. List of Challenging Areas: Backend Complexities As the scope of the Digital Currency Exchange Platform (DCEP) project was ample, wide, and extensive, maintaining and handling the database for different users, currencies and their requests were the hardest nut to crack. As the requests were dynamic and time-restricted, a robust backend algorithm was designed that delivered results in real-time. Overall App Security Digital Currency Exchange Platform (DCEP) application is the new digital in the field of finance which in obvious terms calls for extreme data authentication powered by modern technologies. Login credentials, user account privacy, currency exchange transactions, eWallet security were the sensitive parameters of app security that required high-end encryption, restricting unauthenticated sneak-peeks. Demands of Users One of the toughest of all was accommodating the distinct and unique currency demands of the user which was instant, dynamic, and momentary. Handling the ‘Choose your own Rate’ criteria within the app was challenging and no less than throwing down the gauntlet. Orchestrating the user functionality as per their demand consumed the most effort and time at the head start. Database Scalability Next, to reserve any type of information there was a need for a scalable architecture and database capable to validate, store, update, and manipulate data as per the incoming data modifications needed without any fail. Currency Management The number of currencies and their conversion was a big deal to manage and organize at the user level as well as the admin as per the increasing demands and user base.

The DCEP Digital Product was not a project to be built in a few months, as per its idea, implementation, logics, computations, and complexities, it had an elastic purview that led us to build its dynamic prototypes. As the project was split into two separate phases, we majorly focused on the currency exchange first and then targeted the second one progressively. Myriads of prototypes and MVPs were built with continuous iterations and changes taking place as per their scope, feasibility, and outcomes where the paramount attributes were the app features and functionalities. The business logic of the application was flattened smoothly and gradually while eliminating all the hurdles coming in the way. The use cases were developed manually at first and were added and enhanced using automation which aided to render accurate results of the computations. The app’s security was handled using high-end encryption making the best use of Blockchain technology, enabling p2p connections, and database optimization was exercised to manage the backend requirements to ensure sturdy working. The Result The end result was as expected and it was already planned to have further versions with the latest updates and innovative ideas to be embedded in it. The next phase of development was already set on fire and had its initials signed to make a head start. The app features, functionality, design, and motive all were aligned and streamlined well and delivered corresponding results as per the user demands on final validation on verification checks. The app allowed to automatically match the money and currency that the user wished to transfer to other users wishing to send money in the opposite direction with “best rate available now” or enabled them to “choose your own rate” which gave them the option to wait for its rate to be matched.