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The Next exchange is the exchange based on Custom Block chain and works as a combination of both centralized and decentralized exchange.
Next Exchange Requirement
The Client in this project is looking to develop an exchange platform which is based on the combination of a centralized and decentralized exchange.
- The Client needs the vendor to understand the concept nd flow of the complete project as the exchange will be working as a centralized and decentralized at the same time.
- Also the vendor staff must understand that in this exchange whenever the user creates a wallet their Private key is not stored but the transaction is occurred in a centralized way.
- The Client needs to develop the entire exchnage on custom Blockchain development.
- Project accuracy should be 97%.
- The vendor was expected to have infrastructure in place to scale up in order the requirements are enhanced or some other additional features in the project are included which requires the infrastructure to be modified in the later stage.
C++, Node.js, PHP, PHP Lumen, Laravel, Mongo DB.
- In creating NEXT. Chain (C+ by the way), our team extended the original Bit coin core protocol, with asset support (similar to Ethereum based ERC-20 assets) and Master nodes with seniority bonuses (as seen within Syscoin).
- Next. Chain is a hybrid block chain with the combined security and efficiency aspects off POW (Proof of Work) and POS (Proof of Stake). This unique hybrid census mechanism is ruling out the 51% attack vulnerability and creates a stunningly fast and secure combination.
- In order to enable our ecosystem with high transactional capacity and efficiency next. Chain utilizes Instant Transaction confirmations (ITC) which is advance version of DAG technology. With this advancement, assets can be transacted in real time, practically instantly at a very low cost.
- ITC is a further development that adds an extra layer on top of the Block chain consensus mechanism opening up possibilities for over 100,000+ transactions per second.
- ITC utilizes the Next. Chain master node network as a high throughput relay to confirm transactions in the background, which typically takes 3-5 seconds, for comparison a regular Bit Coin transaction takes between 10 and 30 minutes to confirm.
Client was happy and satisfied as he received the project as he wanted with all the functionalities perfect.