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Fully decentralized cryptocurrency exchange based on custom blockchain

for European startup

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About the project

We implemented the Proof of Work – Equihash (ASIC-resistant) algorithm that works with Proof of Stake consensus to make blockchain utterly secure from day one, even in the absence of computing power used for mining.

Client

Exchange Coin (EXCC)

Project duration

February 2018 – February 2019

Client’s website

Project scope

Proof of Work + Proof of Stake blockchain,
decentralized cryptocurrency exchange

Introduction

Exchange Coin (EXCC) is aimed to build decentralized cryptocurrency exchange (DEX) dedicated to semi-professional cryptocurrency traders, that allows multi-blockchain transactions seamlessly and securely. 

 

Business challenge

EXCC founders, after successful ICO, struggled with finding a reliable technological partner who could take care of advanced blockchain technology development. Pragmatic Coders provided a dedicated cross-functional Product Team (including Backend and Frontend Developers, Product Owner, and Scrum Master) that worked towards the goal set by founders.

 

Business solution

The team took complete ownership of the technical aspects of the product from backlog formulation up to the software delivery and technology selection. The core of the product is an innovative, built from the ground new blockchain – EXCC – with Proof of Work and Proof of Stake consensus algorithm and entire infrastructure required for it to operate.

Besides software development, Pragmatic Coders supports EXCC in Marketing and Public Relations through its trusted marketing/PR partners network.

 

Tech challenge

Creating a blockchain that is secure, fast, reliable, and suitable for building a decentralized cryptocurrency exchange is a challenge itself. But doing it under time pressure, with a roadmap that from day one is behind schedule, requires exceptional management skills, expertise, and extraordinary team effort.

 

Approach

We quickly built a partner relationship between client and Pragmatic Coders. Thanks to that, we were able to take full product ownership and the responsibility for product development success. That way, we were able to move fast, solve most of the problems locally and, in the result, deliver the reliable solution on time.

 

Implementation of Proof of Work

Equihash (ASIC-resistant) algorithm that works with Proof of Stake consensus to make blockchain utterly secure from day one, even in the absence of computing power used for mining.

Infrastructure

Setup of the entire blockchain-related infrastructure (blockchain explorer, staking pool, mining pool, miners, etc.).

Wallet

Creation of a new full node wallet – web and desktop ready

We used to work in a very fast and dynamic way, made decisions quickly, based on data and research. We found out quickly that often software development teams aren’t so dynamic in the delivery of the agreed scope. We contacted and tested the cooperation with a couple of them. Finally, we found the perfect match – Pragmatic Coders.

Group
Sylwester Szczepanek
CEO

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