The Goal: To speed up availability and increase scope of decision critical data 

BitBank is a cryptocurrency exchange for which our team performed the task of integrating external systems to display up-to-date cryptocurrency rates. Whilst doing this, we in parallel optimized trading processes. This was in order to increase not only operational speed but also the ability to trade through external platforms.

What we achieved:

Our 6 person team spent about 18 months on this project. As a result of our work, BitBank users now receive more accurate information about current cryptocurrency rates. This allows them to make more informed decisions about buying and selling cryptocurrency assets. The increased speed of execution ensures higher efficiency in trading on the exchange because in this area every second counts. In addition, by integrating with external venues, users can trade on BitBank through other popular crypto exchanges, which increases the convenience and flexibility of the platform.

How we figured it out:

The biggest technical challenge was working out how we can access various data and how to integrate this in our single system whilst ensuring extremely high speed of operations, since seconds make a difference in the world of trading. We used API interfaces of popular crypto exchanges and services to integrate external systems for displaying actual rates of cryptocurrencies. We wrote scripts that read data from these interfaces, transferring it to our database, from where it is readily available on the BitBank platform.

To optimize the speed of trading operations, we took a two pronged approach: we combined the use of high-performance servers whilst optimizing the algorithms used for trading operations. In this way, we reduce the load on the servers.
Security is a critical and central requirement. We set up a security system to protect against unauthorized access and used state-of-the-art data encryption technology to ensure the security of user information on the platform.

Tech Stack:

Node Js, PostGres, React JS

Industries:

Fintech, Trading

How’s it all performing?

The results of our improvements as reported by BitBank were not insignificant. User numbers rose by as much as 20%, trading volume increased across the platform by about the same amount. Operational speed was boosted by a fifth.