EXCC: Creating a new blockchain that is based on Proof of Work and Proof of Stake algorithms & preparation for DEX

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Client name

Exchange Coin (EXCC)
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Client's country of origin

Marshall Islands
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Time to "Go Live"

12 months
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Kick-off date

February 2018
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excc

Introduction

Exchange Coin (EXCC) aims to build a decentralized Cryptocurrency exchange (DEX) dedicated to semi-professional Cryptocurrency traders that allows seamless and secure multi-blockchain transactions. To achieve that, we had to create a new Blockchain, that was based on Proof of Work mixed with Proof of Stake algorithms. 

Business challenge

EXCC founders, after the 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 Blockchain Developers as well as Backend and Frontend Developers, Product Owner, and Scrum Master) that worked towards the goal set by the founders.

Creating a secure, fast, reliable blockchain suitable for building a decentralized Cryptocurrency exchange is challenging. 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. 

Business solution

We've quickly built a partner relationship with the client. 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, as a result, deliver the reliable solution on time.

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 the entire infrastructure required for it to operate.

We created a new Blockchain and the entire infrastructure around it, including: 

  • Wallets
  • Mining Software
  • Mining and Staking Pools
  • Blockchain explorers.

Check our article on creating cryptocurrency exchange from scratch vs using the white-label solution.

Product and main features:

  • 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.).
  • Creation of a new full node wallet – web and desktop ready.
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Our Client's Recommendation

We used to work in a very fast and dynamic way, and 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.

Sylwester Szczepanek

CEO, Exchange Coin

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