Cryptocurrency exchanges are online Fintech platforms where you can exchange one cryptocurrency for another. Depending on the exchange, it is either like a stock exchange or a currency exchange, but for the cryptocurrencies – the digital money that is based on the data encryption technology. The main features of cryptocurrencies are their anonymity, decentralization, and security.
In this project, we were building a FinTech platform for the cryptocurrencies exchange. The goal was to build a platform that would be able to manage thousands of transactions and scale to hundreds of thousands requests at the same time.
1. Using WebSockets which enabled bidirectional, message-oriented streaming of text and data between client and server, improving the efficiency of the platform.
2. Using Microservices to ensure the scalability and stability of the platform – 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. Microservices contribute 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.
3. Building two separate backends and the one responsible for the currencies and wallet management is based on Virtual Private Cloud which is carefully secured and there is no external access to it.
Building a FinTech platform that is: