Breaking the Ice with Blockchain Development — a brief flashback
One of the first blockchain development projects that we did, as a company, was called TradeBuddy. It was an interesting project which fulfilled a specific need at that time, for crypto traders.
Those who trade FX regularly with the various new platforms that are available, like MT4, would feel claustrophobic when they try to trade at stock and crypto exchanges. This is true especially at crypto exchanges which have started to grow and build on their technology only over the last couple of years.
So, the crypto exchanges lag a lot, compared to the stock exchanges, in terms of technology and user-friendliness — at least when it comes to trading. So, this TradeBuddy project was expected to be a layer on top of the exchanges and introduce a host of (otherwise nonexistent) trading features for the crypto traders. This included the ability to set multiple stop losses, trailing stop losses, multiple take profits, etc. Many of these order types are not available even in some of the top crypto exchanges.
The big challenge that we faced as part of this project was the volume of orders that we needed to handle. The infrastructure cost had to be kept to the minimum, but the platform had to be scalable and be able to handle a huge number of orders from within the platform and from the cryptocurrency exchanges as well. The tick by tick prices also needed to be handled across each order and the orders from our users had to be pushed to the various crypto exchanges once their prices were reached.
We had to rely on the AWS cloud for the infrastructure and we then zeroed in on using redis database to handle the large number of orders. The solution worked like a charm and we were able to handle multiple exchanges as well, and we were able to deliver the website to the client in a matter of a couple months.
More than giving us any major profits, this project served as a very good experience for us and gave us the confidence to handle any crypto or blockchain projects in the future which, we’ve been lucky to say, weren’t that far away. There were many such projects that came along in the subsequent months, all of which helped to build our profile in the blockchain space and grow as a team.
