The challenge
The client had a basic idea, but not clearly defined objectives or future project’s structure.
The challenge
The client had a basic idea, but not clearly defined objectives or future project’s structure.
We faced the following requirements - a new cryptocurrency should:
- not be based on existing platforms
- integrate into banking systems easily
- have KYC functionality
- be suitable for any type of device
- guarantee the highest rates of security and fault-tolerance
- include unique functions other cryptocurrencies don’t offer such as coin request, postponed transactions, referral program, distribution of the stakeholders’ compensation etc.
Business logic
Project’s business logic, in general, doesn’t differ from standard processes and functions of any cryptocurrency (adding, withdrawal and transfer of funds).
The key feature is a deep integration into multiple external banking systems, providing a gold-backed cryptocurrency.
The main difficulty was to develop algorithms and rules of user's engagement, who had different roles and functions.
The project had four user types:
User
Referral
Stakeholder
Admin
The process
Management and the team consisted of:
- Design architect 1,
- Project manager 1,
- DevOps 1,
- QA 3,
- Front-end developers 2,
- Back-end developers 3,
- Blockchain developers 2,
- Designer 1
What we did
The process of solution development included:
- proof of concept
- comprehensive business analysis
- architecture development
- business logic development
- users’ behavior scenarios development
- integration with external systems scenarios development
- integration into banking software for dealing with fiat currencies
- integration with KYC service
- UI/UX for any type of device
- integration with external information sources
- implementation of full functionality and project interfaces
The development process and communication with the client:
For project development, we chose an agile methodology Scrum.
Mainly the development was divided into two-week sprints.
At the end of each sprint, we demonstrated a demo of upcoming release to the client and made required refinements.
After thorough testing, we deployed new functional in the production for the product to bring the best value to the business.
The Technologies
Front-end part of web application was developed on Vue.JS as this framework is the most lightweight.
Back-end was implemented on Golang - the quickest and the most efficient language for such solutions.
We used Rust for blockchain part, which allowed us to implement custom blockchain and integrate it into ready business logic at short terms.
Front-end part of web application was developed on Vue.JS as this framework is the most lightweight.
Back-end was implemented on Golang - the quickest and the most efficient language for such solutions.
We used Rust for blockchain part, which allowed us to implement custom blockchain and integrate it into ready business logic at short terms.
Also, we had the following technologies in the stack:
Chosen technologies provide secure data storage, high speed, optimal project support after deployment.
As part of VipCoin we have implemented
over 30 features, find a list in the full case.
The development stages
According to client’s requirements we’ve completed the following tasks:
- proof of concept
- comprehensive business analysis
- architecture development
- business logic development
- users’ behavior scenarios development
- integration with external systems scenarios development
- integration into banking software for dealing with fiat currencies
- integration with KYC service
- UI/UX for any type of device
- integration with external information sources
- implementation of full functionality and project interfaces
- deployment on working servers
- comprehensive testing
The result
As the result, we have developed and launched a well-functioning, secure, fault-tolerant cryptocurrency backed by gold. We have integrated it with banking and other systems, implemented all required elements for comfortable usage on any type of device.
VipCoin is one of the most stable cryptocurrencies due to its complex business logic. It has combined best features from two worlds: stability from physical one of gold which price grows constantly and guarantees risk-free investment freedom of distribution and transactions from digital world which allows use cryptocurrency with no third-parties or border limitations.
The cryptocurrency is a foundation we have laid for developing a huge ecosystem based on the same values as digital currency.
Ongoing project.
The result
As the result, we developed and launched a completely well-functioning, secure and fail tolerant cryptocurrency based on gold. We integrated it with banking and other informational systems. As well as we implemented a full set of required elements to make user-friendly for any type of device.