How To Develop A Cryptocurrency Exchange Platform

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The cryptocurrency exchange platforms are platforms in which user can buy and sell virtual currencies at the rates specified by the exchange market . It act as a mediator between customer and digital currency dealers .

In present scenario , numbers types of cryptocurrencies are available in the market . But when it comes to choosing a platform , there are only two types of platform available in the market to choose from :
The first one being direct trade platform wherein traders can trade their own exchange rate , without any interference of market established price .
Secondly , there are varieties of brokerage platform available in the market facilitating user to buy currencies at the rate set by the agent . The agent are somewhat similar to foreign exchange dealer .

Getting KickStarted With Cryptocurrency Exchange Platform

The very first thing that need to be taken into consideration is the functionalities required by you in how much time and how much is the budget . As when we are dealing with such a complex software development it make take a year depending on the complexity of software and mobile app development company you have hired .
Once you are done with the documentation of what is required by you , the very first thing that a develop will do it to create a user profile module , by which user can deposit and withdrew cryptocurrency .
Apart from what is being stated above , you will also be needing an aggregator solution to facilitate user to create their own coin or token and put it on asset list immediately .
Any of the cryptocurrency exchange platform won’t work if it does not have an attractive look and user friendly interface , and most important the wallet in which cryptocurrency can be stored .
The following features should be necessarily present in order to build perfect interface :
  • Fast and easy user registration
  • Trading account
  • Wallet to store coins
  • Deposit and withdrawal of cryptocurrency
  • Order and booking history
  • Powerful customer support

How Can We Develop An Cryptocurrency Exchange Software

Once you have totally prepared your mind to own a cryptocurrency exchange platform , there should be clear understanding between you and the team you are hiring for blockchain web and app development – right from its functionalities to its principle and more . Also team must have potential developer to implement the technology properly .
The cryptocurrency type is going to decide the programming language a developer in going to use to develop the whole platform  . When talking about blockchain app development , security should be considered above all factors . It should be highly secured in such a way that it should be compatible with other payment systems to guarantee all transactions are carried out successfully .
Considering time and resources to make project a success plays an important role . On an average it has been seen that it will take around 15000 hours to 20000 hours to develop the whole project depending on the complexity of the project .

How Can Exchange Platform Be Protected ?

The first and foremost thing is quality of code which itself eliminates any security risk . For this you need to create security architecture and configure it accordingly in order to spin hackers to get the assets .
The blockchain is not only getting popularised in cryptocurrency , but is also increasing its flame in banking industry to ensure highest security in financial system as well as trading in banking as well .

Summary

We hope this article has guided you a lot things to start developing your cryptocurrency exchange software . But if you still have any unanswered question in your mind , don’t hesitate to contact Winklix for all your support and questioner .

Top Trending Technological Advancement : BlockChain And Augmented Reality

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New technologies are stepping in the market like introduction of the new spicy food – which is simply we can say at unpredictable rate . Its really getting complicated for mobile app development company to cope up with the latest technologies . Even the market analyst is getting confused about which technology is really relevant for business .

Blockchain and Augmented Reality  are most trending technologies today . Even the big player like Oracle – one of the leading tech companies has joined the club of blockchain with newly introduced cloud services . It totally depends on software development companies how they are utilising the latest to boost IT performance and business improvement .

What is Blockchain ?

Blockchain has been introduced to order to build transparent , trustworthy and commonly accessible financial future . One of the best example of blockchain technology is Bitcoin and Ethereum which always allow any user to transact without any third part interference  . Blockchain has the capability of tracking each and every transaction at faster rate .

How Does It Work ?

Blockchain process the end to end data in encrypted format to give faster and secured access to data .It is a combination of nodes in network which approved the transaction if the encrypted key matches the other before they add on finally to ledger . This technology is really fast and fully secured as it imitates every transaction in the form of new block in encrypted format .
Shipping industries have already implemented this technology , while banking sectors are playing an trial and error with this technology . This technology is helping millions to transact financial transactions in cost effective manner .

Benefits Of Using Blockchain Technology

  • It reduces cost of online transaction .
  • It is highly secured for banking applications .
  • It is faster and multiple cyber security advantages to banking application .
  • It is almost next to impossible to loose any data .
  • It increase authenticity and security .
For knowing more about reality of blockchain our article here .

Is Augmented Reality Is Also Next Future Technology ?

The mission of introducing this technology is to overcome with the problem of computer generated objects into experiencing it in the real world .
Augmented Reality ( AR) is technology which converts existing environment into virtual one . It is somewhat different to virtual reality which mainly focuses on artificial environment .
Whether it is automotive industry or a coffee shop , everyone is taking advantage of using augmented reality in order to get the benefit of computer generated graphics in their field of vision .
Many mobile app development companies such as Pokemon Go and Snapchat have already started implementing the concept of AR technology in order to be ahead in technological race .

How Does Augmented Reality works ?

In augmented reality , an augmented reality app development company overlays projected images on top of pair of glasses or goggles which helps virtual objects and layers in such a way that it gets on the top of user real world view . It also do not require any cables or desktop computer to perform its function .

Benefits Of AR Technology

  • It is unique technology and creates virtual image in real world .
  • It has the potential to attract more customer with interactive marketing strategies .
  • It is simplest way to explain or view any objects on real time basis .
  • It creates unique marketing strategy .

Conclusion

With such an technology improvement and latest technologies emerging in the market , its upto the choice of mobile app development agency , and software development companies to get the benefit with using latest technology which will be beneficial for both companies as well as their customer to cope up with the market condition .