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Developing a System around Cryptocurrency Trading Platform: Key Features and Solutions
The cryptocurrency market as we know it today has undergone multiple changes and continues its transformations despite the overall economic uncertainty the world faces. What makes cryptocurrency popular is that it is decentralized, i.e., it is not regulated by any government or authority, making it free from economic or political impacts.
The emergence of cryptocurrency in 2009 gave impetus to growing the popularity of blockchain technology implementation as opposed to the typical database for data storage. The distribution of cryptocurrency led to the development of multiple exchange services where we can trade crypto, check the latest rates, manage our online wallets, etc. In the article, we are sharing our experience of developing a crypto trade and online shopping platform for our European client.
What are the defining features of a reliable crypto exchange solution?
When we talk about cryptocurrency, the first thing that comes into mind is blockchain technology which makes the whole crypto world possible to exist. It is a digital register of the crypto transactions history that tracks all ownership rights and ensures a high level of security. As a blockchain file normally exists in multiple copies within the network, it is very unlikely to be changed, hence, hacked. Owing to cryptographic connections among the blocks in the blockchain, any alterations to the file are immediately noticed.
When getting into crypto trading, customers analyze what advantages do they get after choosing one. First of all, the platform shall be reliable, secure, and flexible. Among the main security features to protect your account, two-factor authentication is the most applicable way. Secondly, it has to show real-time fluctuation in the crypto exchange rates to bring maximum benefit to the traders. Thirdly, to stand out from the market completion, it is crucial to give your users what others can’t. Think of something rare but very much in demand.
Cryptocurrency trading platform: our experience
Our client is a leading cryptocurrency exchange platform with around a million traders from across the globe. They were seeking for the team to develop the front-end part for the platform primarily. Within the development process, they also requested a small e-commerce platform for purchasing electronics with cryptocurrency. Additionally, the Agiliway team consulted the client over the most suitable solutions that would bring maximum value to their product.
The main requirements and tasks
Parts of our client’s cryptocurrency trading platform became outdated and required significant changes to ensure the proper implementation of the project. Moreover, the client decided not only to change the existing functionality but also to develop several major features. The key requirements were to rewrite and modernize the existing functionality, create charts for tracking and depicting the fluctuations of cryptocurrency rates (online chart built with an old plugin that was too slow for such a platform), add new features, create several landing pages to improve the SEO of the platform.
The Agiliway development team was challenged to develop a flexible solution that would help to withstand the cryptocurrency trading market competition and attract more customers.
Project implementation: what we did
To ensure the proper operations of the client’s platform, our engineers carried out extensive development on both front-end and back-end parts. The implemented solutions included but were not limited to:
- Optimization of charts operations included real-time fluctuations of cryptocurrency rates using the lightweight-charts library. This approach allowed creating the service that manages the library’s performance within the project.
- Visualization of analytics with vue-apexcharts.
- Visualization and animation of data representation utilizing Vue 2.0. Refactoring of existing components ensured a smooth transition to Vue 3.0. In addition, TypeScript was used to describe data types.
- Website multilanguage feature was implemented with the vue-i18n library. Creating a custom component library of Vue components with Storybook ensures flexibility when adding new UI elements to all subprojects within the platform.
- The back-end’s side of the platform, its logic, and database management processes were built with Laravel + PostgreSQL.
As an additional feature, our client wanted to create an e-commerce solution (online store) for purchasing electronics with cryptocurrency only. The e-store was built from scratch with Nuxt + TypeScript. The feature became a success since the platform users do not need to perform operations with crypto withdrawal or exchange.
The Agiliway development team helped the client to enhance the existing functionality of the platform by optimizing the front-end part. Within the process, the platform became more flexible and responsive. After updates to the charts, no disruptions were noticed, hence, traders get real-time crypto rates, which is crucial in the decision-making process, and each second counts. Along with updates, our engineers built an online store where traders can buy electronics using their cryptocurrency. This helps save a lot of time for them and attracts more and more users to the platform.
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