Reasons to Build a Crypto Exchange using Microservices Architecture
Cryptocurrency exchanges are witnessing a major shift from a monolithic architecture to a microservices architecture. The new system is more secure and robust in its functioning. Earlier, most of the custom exchange platforms and white label cryptocurrency exchange software were built on monolithic architecture, using the following three systems:
The model worked on the mechanism wherein API systems took the charge of managing all the public API requests, web traffic and application requests. The buy and sell orders on the exchange were fulfilled through a matching engine and simultaneously sync handled all of the integrations of blockchain and banking.
However, as the number of transactions on the crypto exchange increased, there existed a need for a more high-performance system that could handle an increased number of daily transactions. Therefore, a more scalable option was required, thus microservices architecture.
What is Microservices Architecture
Microservices is a development technique that formulates its structure application on loosely captured independent services. These are well-defined services that operate on a single purpose data and resources. The mechanism of microservices works on a well-defined protocol and is capable of communicating with each other in an isolated manner. It generates transparency in communication while generating server bindings in many languages.
The framework of Microservices Architecture Solution
At Antier, we offer the best white label cryptocurrency exchange software built on microservices architecture. The four main modules of our exchange include user module, wallet module, trading module and system checker, in addition to other modules — all of which are explained below:
- User Micro Service: All users-related services and processes are executed and stored under the microservice module.
- Wallet Micro Service: Users’ wallets’ balance records and wallet processes are executed in this microservice.
- Trading Micro Service: All trade orders along with the matching engine process are implemented in this particular microservice.
- System Health Checker Micro Service: System health checker checks all of the components of the system and is responsible for sending alerts.
- Rabbit MQ: Rabbit MQ is the message broker for processing communications between different microservices and layers.
- Service per Trade Pair: It includes service per trade pair along with syncing with the respective database.
- Service Components: Service components include the APIs components.
- Wallet Service per Crypto: Wallet service includes per crypto along with syncing with respective database.
- Socket Service: It establishes a connection between client and server and is responsible for exchanging data.
- API Gateway: API gateway is responsible for request routing, composition and protocol translation. API gateway also provides each client with a custom API.
Benefits of Microservices Architecture
The Global cloud microservices market is forecasted to reach $1.8 billion by the year 2023 and the benefits of microservices cannot be overlooked.
Let us delve into the benefits of building white label cryptocurrency software using microservices architecture.
- Higher productivity
Microservices architecture segments large applications into smaller and independent functions. It even aids you in expanding your development team as each team works in isolation and increases productivity. Every member works independently without waiting for another’s input and is also thus connected with the overall software. Testing also becomes easier and convenient to follow.
- Faster deployments
Microservices architecture creates an independent atmosphere with each microservice operating according to its own needs and even manages its database. The self-supporting architecture of white label cryptocurrency exchange software makes the application of code easy as you do not have to wait for an entire application. You can alter one module and deploy it, thereby making your overall delivery faster.
- Failure and error isolation
As we have discussed till now, microservices architecture isolates the functionality, hence it also isolates the errors of the particular modules. The overall mechanism becomes profitable as you do not have to shut down the entire mechanism and can work on error area in resilience. It improves the uptime of your product and even makes it easier to pin down to the actual cause of the problem.
The independent functionality of microservices can be easily used in other applications, thus improving scalability. The development team can efficiently work in isolation without affecting the overall schedule of the entire IT team. Microservice works out to be a simple and perfect approach to scale up and down the entire process.
- Technology flexible
Each element of the microservices is separated from the rest of the application, making it easier and flexible for developers to use any technology or language which they wish to deploy. It is almost impossible for monolithic applications to use multiple languages.
- Security and quality monitoring
Both the security and quality of the structure improve. As teams usually focus on smaller and well-defined functionality, it creates a high-quality piece of nodes. Additionally, in case of any security issue, only one part of the architecture is affected and does not infect the overall system.
- Compatibility with CI/CD and Agile
The development team can easily choose the processes on which they wish to work according to their needs. The microservices architecture is compatible with various processes of the software industry such as CI, CD, Agile or container methodologies.
Cryptocurrency exchange development companies are focusing on implementing microservices architecture in their white label cryptocurrency exchange software. With small and focused teams, the speed of software deployment increases.
We, at Antier Solutions, provide highly-secure, scalable and high-performance white label cryptocurrency exchange software built on microservices architecture. Our white label exchange is fortified with industry-leading features to deliver enhanced trading experience and can be launched in the market in just 3 weeks.
Schedule a free demo of our white label exchange or talk to our subject matter experts to share your needs for a custom exchange.