CrypKart's Blockchain Revolution: A Case Study

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Crypkart is an advanced peer to peer crypto trading platform with support for 100+ fiat currencies, and multiple crypto currencies. CrypKart has advanced features for its traders and boasts of a CrypKart Partner program and CrypKart Ambassaor program. CrypKart also the provision for its own token : CrypKoin, which can be used towards brokerage fees and other features of the platform. CrypKart brings in a very strong token value appreciation business mechanics for its token : CrypKoin.

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The Requirement

The client was inspired by the success of a peer to peer trading platform : thelocalbitcoins.com. We were tasked to develop a platform similar to this with some advanced features to support offline – crypto trading as well. Also, the platform should support multiple popular crypto currencies. The platform had to be multi-lingual with support for all major currencies (100+) in the world. The peer-to-peer exchange enables its traders to do a direct deal with their counterparts using a very strong Escrow system and assurance of the platform.

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The Solution

We constituted a 2 member team to understand the mechanics of P2P crypto exchange. We were pleasantly surprised to discover the way trading happens on P2P – how you can negotiate the rates, do bulk deals, how various payment methods are supported and more. After the initial study a team was formed. The toughest part was to work on BitCoinJ – which is the library for connecting with BitCoin Blockchain. A very strong Escrow system was built – as part of the core engine. The escrow system ensures fair trade for all parties involved. A dispute resolution module was also built. CrypKart allows its traders to –

Post buy/sell advertisements
Define their own terms, currency and mode of payment
Determine their own rate based on the volume they want to trade
Build reputation over time and get more trade calls
Chat in real time
Define payment release time window with auto escrow release

Tech Stack

" TheBlockchainTeam did a fabulous job with my crypto currency exchange. They advised us to start with a P2P exchange and then rise up to a order book exchange - a brilliant suggestion to reduce development cost, reduce time to market and speed up the revenue realization from business. Strongly recommended. "