Development of a unique trading platform

How Smartym Pro made a unique trading platform

For the last decade there have appeared over 1600 cryptocurrencies and the number of various crypto-tokens has reached a number of 500 long time ago. With such a drastic amount of assets of all kinds of course there have appeared a need for crypto-trading platforms, that provide a set of tools similar to traditional trading platforms such as buy-sell orders, stock charts etc. 

We have all read already dozens of articles about how a typical Cryptocurrency Trading Platform works from the inside, what technologies are used (Blockchain, ofc, we’ve all heard about this also a couple thousand times), so in one word – everything that is going on from the inside, that we cannot see or “click through”.

However, what is the first thing that users notice when they open up a web-site of a trading crypto-platform? The front-end of course! The interface of a trading platform should correspond to some basic requirements like being beginner-friendly, have a comfortable layout of information and don’t be too “overcrowded” with data. 

Let’s take a look at most modern cryptocurrency trading platform development results: basic black-and-white interface or vice-versa – too many bright colors and cartoonish pictures (as if trading was for kids or teens), and all the components are not placed in a way comfortable for work, or there is too much info on one single page as well as it can be not user-friendly at all. 

But what if you could adjust the interface according to your preferences and priorities? Sounds nice, huh? Yes, and this is exactly what our team has been working on for the past few months. Together with the other team that is responsible for the backend part, we are creating a new cryptocurrency exchange platform as a part of a big blockchain social ecosystem.

What is this trading platform about? Well, it has the familiar to everyone stock exchange tools, however, unlike many popular competitors, the platform has an intuitive interface and an adequate mobile web adaptation.

The platform ensures security with implemented encryption of API keys, end-to-end encryption,  2FA and KYC for the traders. Moreover, it is integrated with a secure authentication server Barong.  

The platform supports fiat currencies as well, which is also not a very widespread feature among popular trading platforms today.

In general our team’s business tasks were the following: 

  • Provide front-end development and integrate with a ready trading platform logic made by a third-party team;
  • Integrate authorization logic made by a third-party organization: authorization/registration, 2FA, and KYC;
  • Adapt an open-source graph-building solution to the trading platform and thus provide better visual intuitive user experience;
  • Provide high-quality maintenance for the servers and guarantee their constant trouble-proof work.

During this custom trading platform development process we have run into some quite curious challenges:

  1. One of the main challenges was to provide a smooth interconnection of multiple third-party services with the trading platform logic and make it look simple on the interface: admin interface, open-source exchange platform engine logic, graph-building tools, and auth-server – all the services are constantly being updated. We had to connect them with each other, in other words, “to solve a puzzle”, and make sure that the final picture doesn’t miss anything and that “all the puzzle pieces fit”. So we provided complete services’ interoperability and developed an intuitive UI that presents the users all the services at once as a united trading and exchange platform.
  2. The second one, and according to our team, the most time-consuming challenge was to implement real-time data update on the interface. We had to mix different tools in order to display the most relevant data about currency quotes, update the graphs in real-time on the interface. We used WebSocket API in order to enable real-time data renewal on UI without the need for users to refresh the web-page.
  3. Our main cool feature – customisable interface.  As it was mentioned above, every cryptocurrency trading platform has the same elements, but their location is different from one platform to another. So we developed a feature that allows users to adjust the interface according to their preferences with a drag-and-drop mechanism. 
  4. The overall logic of the crypto-trading platform was quite complex. In order to implement design, front-end and to be able to test the whole system, we had to research a lot on the trading platform’s logic. The system involves a lot of specific details and many ambiguous factors that we had to take into consideration. Moreover, every cryptocurrency has its own specific economic logic, that we had to take into account in the process of implementation in the platform.

 

The development process is not fully finished yet, however we already have peculiar plans for the nearest future:

  • To work with more than 50 cryptocurrencies and tokens;
  • To integrate with the world’s 1st crypto-trading platform – Binance;
  • To automate a process, that will allow users to withdraw their assets directly to their bank accounts;
  • To introduce more charts;
  • To implement a referral program;
  • To let users decide which token/currency to list on the platform next by voting. 

Working on this platform we gathered even more experience and expertise. So in case you would like to create for your project something unique and outstanding, or curious to know how to develop cryptocurrency platform, don’t hesitate to take a minute and write us about your ideas and let’s start this path together!