While most of the northern hemisphere is enjoying their summer vacation, Smartdec continues to beaver away in Moscow. Our colleagues there are hard at work building the Digitex futures exchange. Right on time, they’ve now issued the fifth bi-weekly report on the Digitex development progress. Check out all the details below!
During the last two weeks, the Smartdec team has been focused on the testing and further development of the Digitex Futures exchange engine, the technical specifications for the back office, and the specifications for the user interface.
Rigorously Testing the Digitex Futures Exchange Engine
The majority of progress during the last two weeks has been in working to improve the exchange engine, testing and re-testing the individual features. Although it may not sound like the most exciting activity, it’s a critical part of the development process and ensures we have a clean, bug-free futures exchange at launch.
Because market data doesn’t exist within the Ethereum blockchain environment, the exchange engine needs a source of pricing information.
So, in the last two weeks, Smartdec has been working at implementing an oracle, which will import BTC/USD quotes into the system. The team is currently in the process of connecting the oracle, and soon, testing will be completed.
Smartdec is using trading robots to simulate real-life trading, and development work on these is now completed. The team finished a back-test on these robots, and have implemented three different trading strategies, which will help to stress-test the exchange engine. They’ve also created a strategy for market-making, which is necessary to ensure liquidity.
With security in mind, the exchange engine now also features two-factor authorization, which the team will put through testing.
As mentioned in the previous report, the team have also been developing three libraries in different programming languages. These are now well underway and will also soon be ready for testing.
Finally, there is now an API for broadcasting market data from the Digitex exchange, which will also need to undergo testing.
Although rigorous testing still takes time, it’s a necessary process to catch any bugs or glitches before the exchange launches to live users. However, it’s excellent news that all these long-awaited features are now becoming a reality.
Back Office Support System Integration
The last report referred to the setup of the back office, which is the part of the exchange that handles all user account management. If a trader needs to raise an issue, then they’ll open a support request which will be handled by an external system called ZenDesk. Smartdec is currently working through the options for integrating the Zendesk ticket processing system to the exchange.
Due to the size of our waitlist, we know we’re going to have a throng of traders online as soon as we launch. Therefore, it’s paramount that we ensure there’s a fast and efficient support system in place. SmartDec has been working closely with Adam to integrate a system that connects our support team directly to the exchange itself.
User Interface Specifications
We want the user interface (UI) to be as intuitive and easy-to-use as possible, so traders can focus on what matters – trading. The Smartdec team are now working with a designer to develop the existing user interface. Together, they’ve selected a set of pages that need to be drawn and matched.
Adam’s vision of a clear ladder trading platform is finally coming to fruition, with the specification now completed and given the stamp of approval by the man himself. Now, Smartdec can start working on implementing the ladder trading interface to the exchange functionality and UI.
So, that’s it for now, but as you can see, Smartdec is making some serious headway in the development process. Although we don’t yet have a confirmed launch date, our latest Q&A with Digitex CMO Lidia Yadlos drops a pretty heavy hint that it’s tantalizingly close. If you haven’t already, check out her update with all the latest from Moscow!