Script-Shop-Exchange-Cryptocurrency

[bit4youcoin]

Any exchange software should have these 4 different components working together:

1. The first component is the trade engine. The trade engine should be the core of any exchange. It accesses the order book, matches buy/sell orders, executes transactions and calculates balances. Without a trade engine, your exchange cannot function. So make sure you have a working trade engine before setting up anything else, or otherwise you will merely have an empty shell.
2. The second component is the user interface (UI) or front end of the exchange website. The user interface is how your traders see your exchange (e.g. trading platform and the design of your website). Any user interface must be user friendly and intuitive. This may sound cheesy, but make it your goal to offer your customers a wonderful trading experience (Tipp: less is more). The UI needs to be mobile friendly too, as the use of smartphones is constantly increasing. A dedicated app for mobile devices would make the exchange more easily accessible which in turn may enhance trading engagements. Ideally, the UI should enable the user to
    Register and access an account
    Deposit, maintain and withdraw Crypto and Fiat currencies
    View current order book, past transactions, balances, statistics etc.
    View charts
    Place buy and sell orders
    Access the support mechanism
3. The third component is the wallet. The wallet is the bitcoin daemon running on the exchange server. This is where the bitcoins (of the exchange operator and his traders) are stored, hence it needs maximum security. Any exchange should implement a so-called hot/cold wallet system to diversify risk.
The hot wallet is the bitcoin gateway of the exchange and allows the customer to instantly withdraw bitcoins to their external wallet without the need of approval from an exchange operator. A hot wallet need to have a positive balance for instant withdrawals which can be set according to the turnover of the exchange.
A cold storage wallet is where rest of your bitcoins are stored. This wallet is completely offline which guarantees that nobody can access your leftover bitcoin even if your hot wallet is hacked (Therefore, it is advisable to always put aside a certain amount of bitcoins and leave them in your cold storage wallet.). A simple cold storage wallet could be a piece of paper or an USB stick where your private keys are located.
Splitting the bitcoins into hot/cold wallet system provides a perfect balance between security and convenience for instant withdrawals.
Bitcoin Wallet
4. The fourth component any exchange should possess, is an admin panel. The admin panel of an exchange is the equivalent of business intelligence and management software. It helps the exchange operator control and manage his exchange. Functions should include:
    Altering liquidityAdmin Panel Bitcoin Exchange Software
    Editing the spread and trading fees
    Approving user accounts for trading, after verifying KYC or other compliance requirements
    Managing currencies like BTC, USD, ETH, etc. and markets like USD/BTC, BTC/ETH, etc.
    Crediting fiat deposits, or debiting fiat withdrawals requested by users
    Addressing the support requests raised by users
In summary, these four components, the trade engine, the user interface, the wallet and admin panel should form the basis of any exchange software (Software engineers call this architecture of splitting your software

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Изменено 25 апр 2018, 09:36 пользователем bit4youcoin