INSART for Taurus:

A Bitcoin Exchange Platform

The Challenge

The client had purchased a bitcoin exchange system, and INSART was expected to deal with the following challenges:

  • Integrate the system with third-party applications.
  • Improve the platform’s functionality.
The Solution

Integrate the system with third-party applications

Business value: Integrating with external applications was to help improve the system’s security and mitigate some functionality issues.

Details: INSART provided the following integrations:

  • Integration with Freshdesk online customer support software.
  • Integration with Protectimus to provide two-factor authentication for better protection of customer accounts, transactions, and transfers.
    In addition, this integration allows the system to protect data against auto-filling, injecting, and other types of malicious software that manipulates and modifies data during transactions (data-signing feature).
  • Integration with PGP, which provides an additional layer of security for clients’ communications with Taurus by encrypting sensitive information sent to clients in email notifications.

Processes: During development, Agile methodology with one-week sprints was used. Every week, the new features were deployed to the server. New features were deployed on Thursdays, and the development team then worked to provide the process.

At the end of each week, a status report was given to the client in which story-points used and tasks executed were defined.

Result: The Taurus platform became secure and fraud protected through the addition of the PGP encryption feature, multisignature with BitGo, and two-factor authentication from Protectimus.

Order book exampleOrder book example

Improve the platform’s functionality

Business value: The existent administration module’s functionality was insufficient, and thus required significant enhancements.

Details: When implementing the project, the development team provided the following services:

  • Administration;
  • Design;
  • Deployment;
  • Testing tasks.

The following features were implemented:

  • Multisignature Hot Wallet, which made clients’ funds more secure due to integration with the BitGo platform, the security platform for bitcoin and blockchain technologies.
  • New means to deposit funds, including interaction with INTERAC Online.
  • New means to withdraw funds, such as bitcoin, wire transfer, check, and coupon.
  • Maintaining tools for working with futures.
  • A merchant bot that allowed the developers to test the platform in real time and optimize system processing under high loads.

Result: After one year of development, the platform was operating efficiently. INSART expanded the functionality of Taurus’s online service, enabled integration with a number of third-party services, and created new testing tools.

As a result, Taurus Bitcoin Exchange provides users with options to buy and sell bitcoin online. Users can fund their accounts for the purchase of bitcoin via wire transfer, Interac Online, or cash in person using Canadian dollars. Other features include instant (market) orders, limit orders, an open order book, and a public developer API.

The platform is now reliable and its usability greatly enhanced. The client has succeeded in attracting significant investments and recouping the costs of the platform’s development.

The Architecture

The following technologies were used for further development:

  • Programming languages: PHP, JavaScript
  • Server-side environment: Node.js
  • Framework: CodeIgniter
  • Client-side frameworks: Bootstrap, jQuery
  • Development tools: phpDesigner, Eclipse IDE.
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