Crypto market fintech platform
Cryptocurrency exchange
Crypto Market is a FinTech platform fully scalable to hundreds of thousands of requests handled at the same time and able to manage thousands of transactions based on the same data. Its architecture is based on microservices and WebSockets that provide efficiency and security.
About project
Cryptocurrency exchanges are online Fintech platforms where you can exchange one cryptocurrency for another. Depending on the exchange, it is either like stock exchange or currency exchange, but for cryptocurrencies – the digital money that is based on the data encryption technology. The key features of cryptocurrencies are their anonymity, decentralization, and security.
Our tasks
Back-end development
Building an efficient platform scalable to hundreds of thousands of requests handled at the same time and able to manage thousands of transactions based on the same data.
Front-end development
Implementing the design and making the platform intuitive and easy to use, despite its complexity, for all its future users.
Challenges
1. Building an efficient FinTech platform
The performance was crucial! It was necessary for the platform to be able to handle thousands of users wanting to purchase or exchange currencies at the same time. We knew that all actions must happen in real-time (in milliseconds) with the right sequence – many of them simultaneously.
3. Taking care of the security of the platform
When it came to security, there couldn’t be any compromises. Being responsible for the future users of the platform, we needed to do anything possible to make it safe.
2. Ensuring high scalability of the platform
To avoid reworks that would come with a growing number of users and meet business demands in a capable way, we needed to make sure that the platform is scalable. With the growing popularity of cryptocurrencies, it wasn’t a question of “if”, it was a question of “when”.
The project was interesting and quite challenging as it combined different fields of knowledge: from cryptocurrencies, through stock exchange mechanisms, banking to legal regulations regarding stock exchanges. Working on the platform, we needed to consider not only the requirements of the Client but also legal regulations and security mechanisms. Another challenge was infrastructure that needed to be fast and efficient and store users’ data and their cryptocurrencies in a secure way.
Solutions
1. Using WebSockets to boost the efficiency of the platform
Using WebSockets which facilitate real-time data transfer from and to the servers enabled bidirectional, message-oriented streaming of text and data. Thanks to that, we’ve managed to improve the efficiency of the platform, making it able to handle thousands of user requests at the same time
3. Double security assurance
An architecture based on the microservices contributes to apps’ security as well, as various parts of an app are isolated. If any security problem occurs in one section, it won’t affect other areas of the project. In addition to that, we have built two separate backends. The one responsible for the currencies and wallet management was based on Virtual Private Cloud which is carefully secured and there is no external access to it.
2. Using Microservices to ensure the scalability and stability of the platform
Microservices, by definition, arrange an application as a collection of loosely coupled services, meaning that each of the microservices can be deployed independently without compromising the integrity of an application. If one microservice fails, the others will continue to work.
Project Results
Building a secure, scalable, and efficient FinTech platform
Our FinTech platform for cryptocurrencies exchange is fully scalable, able to manage thousands of transactions based on the same data, and most importantly – it is secure due to the microservices architecture, double backend, and using a Virtual Private Cloud.
Making cryptocurrencies exchange easy
From the very beginning, we aimed to create a platform that would be secure, scalable, and efficient, but also intuitive for its users. We’ve managed to create an application that presents complex data in a clear way and is easy to use.
