Development of a cryptocurrency exchanger in Java

In parallel with the increase in the number of exchange transactions in the crypto market, the demand for digital currency exchangers is also increasing. They are online platforms where users can quickly and with minimal commissions exchange one crypto for another or transfer it to fiat, with further withdrawal to a bank account or card.

Different technologies can be used to create a crypto exchanger, and if we talk about the implementation of the backend part, then the Java language is one of the most priority options.

Java is in high demand in the IT industry and is most often used to implement complex and high-load projects. The language has many advantages, so we suggest considering the most important of them in a little more detail:

• Performance. Java provides maximum speed for calculating complex mathematical calculations, making it ideal for high-load projects.
• Safety. Java provides tools for safe memory management and also enables OS resources to detect malware. Therefore, choosing this language, you can be completely confident in the cybersecurity of the software.

• Wide networking opportunities. Java supports the most popular network protocols – FTP, HTTP, TCP / IP. Thanks to this, applications written on it can find the necessary objects on the Web as quickly as in a conventional file system.
• Microservice architecture. Java applications are not monolithic, but consist of many independently working modules. This makes it possible to deploy, modify and update the product in parts, which significantly increases the stability of its work.

The life cycle of such a product consists of six main stages. Let’s consider them in more detail.

Stage 1. Gathering information

The development of any digital product starts with research. At this stage, specialists study the requirements and vision of the client, perform market analysis and form top-level documentation.

Stage 2. Design

Design is considered one of the main stages in the development of a cryptocurrency wallet, which allows you to save money and time, as well as release the most effective and marketable product.

In fact, during the design process, developers test ideas, find optimal technical solutions and eliminate errors that may arise during further implementation. The prototype crypto exchanger includes four main components:

• Interface warframes.
• Block diagrams of functions and smart contracts.
• A table with a description of all the functionality.
  Product Mathematics – a list of formulas that will be used in the exchanger to perform internal calculations.

Stage 3. Design development

When creating a design, graphic elements – illustrations, fonts, animations and other components – are superimposed on the finished structure of the warframe, as a result of which the product acquires a natural and attractive appearance. To achieve the best result, the design of exchangers is most often developed individually.

Stage 4. Programming

The technical implementation of a cryptocurrency exchange consists of three parts:

• Backend. Can be created in Java or other server-side languages such as PHP, Python and their frameworks.

During the development of the backend, specialists write the functional code, set up the servers, organize the database architecture, and also integrate the exchanger with third-party services via API – for example, with banks and fiat wallets, to be able to perform transactions with traditional currencies.

• Frontend. It is built on static HTML/CSS/JavaScript technologies, or reactive technologies such as Vue.js/React.js. The frontend is responsible for interacting with users on the client side.
• Blockchain development. This part includes the creation of smart contracts – scripts that are hosted in a decentralized network and are responsible for conducting financial transactions. Their development can be carried out in Solidity, Rust and other programming languages, depending on the chosen blockchain.

Stage 5. Testing

When the development of the exchanger is completed, the project is transferred to the QA department, where it undergoes thorough testing. Particular attention is paid to the correct operation of smart contracts, since once they are published on the blockchain, they cannot be deleted or changed.

Stage 6. Technical support and development

Qualified technical support will allow you to quickly and effectively eliminate any errors in the operation of the exchanger.

In addition, if necessary, our team can refine and develop the functionality of the project to make it even more convenient and useful for users.

As for smart contracts, they are inherently immutable. However, if necessary, we can create and place a new version of them on the blockchain, which may be necessary when changing the transaction logic.

Every day, crypto exchangers conduct millions of transactions for the transfer of digital currencies. This is a huge market that is still growing, which means that investing in the development of your own exchanger will be appropriate and bring profit.

Designing and developing decentralized solutions is one of the main specializations of the AVADA MEDIA team. Experience and deep understanding of the blockchain industry allows us to create products that are in demand on the market and that solve the commercial problems of our clients.