06 Aug Buy and Sell Digital Cryptocurrency Securely
“The speed and the modern design of the application was just beyond expectation. Hats off to the “Rootcoders”, as they call themselves for the amazing output.”
– Review from the Client
Our primary challenge was to explain a new and unconventional technology in a way that was universally understandable. This meant focusing heavily on the value and convenience of Cryptocurrency while dropping the technical jargon that often scares away new adopters. But now in the recent past this trend of cryptocurrency has been changing. It is said that 42 percent of the world’s top 50 universities now offer at least one course on cryptocurrency or blockchain realizing the upwards shift trend. We had to come up with a web application which would act as a platform for trading these bitcoins and other cryptocurrencies. This was one of the challenging projects we have worked on as we had to make sure every code we write and all those output meets the international compliances and security standards.
Since 2011, there have been over 50 attacks targeted at cryptocurrency exchanges, initial coin offerings, and other digital currency platforms. High profile cryptocurrency hacks such as the attack on the Mt. Gox exchange in 2014 — which saw 7% of the world’s supply in Bitcoin stolen — not only impacted customers but also had implications on the trajectory of digital asset adoption. Therefore we had to make sure our trading platform does not accommodate such frauds or hacks. As our platform will be one of the most suitable platform for attackers to steal bitcoins. We had to also make sure our web application met with the international standards and compliances.
Security is the most important of those tenets. Our application would control hundreds of millions of dollars of bitcoin and other forms of cryptocurrency for our customers, placing us among the largest reserves in our industry. Just as a traditional bank would heavily guard its customers’ assets inside a physical bank vault, we take the same or greater precautions with our servers.
Apart from the security we had to make sure the database is flexible as each time new products (Ex: Ethereum, Bitcoin cash, Litecoin) are added, There we had to go with a database like MongoDB which is a flexible document data model that allows the team to quickly update existing data structures as necessary.
With easy to understand interface and secure payment systems our web application was so convenient and robust. This increased the user base and daily traders using the application. With the dashboards and customizable widgets users get a detailed view of their transactions. This web application also allows the users to trade most of the used cryptocurrency types available in the market.