The microservice architecture structures an application as a combination of services. Microservices is considered to:
- Have a well-defined purpose
- Run on its own service process
- Communicate well with HTTP and other variants of API
- Improve or downgrade independently of other services
- Function independently, meaning that it can be started and stopped freely without affecting other services
- “Acts on its own” and need not have the knowledge of other services
The microservice architecture is leveraged to build various applications, one of them being cryptocurrency exchange software.
Benefits of microservices architecture
- Comparatively easier to develop and maintain the platform
- Securely adjusts to the needs of customers
- Can be modified or altered according to the future requirements
- Easier to be implemented in various coding languages and at different parts as it is not stuck with any particular language
- Ensure better security measures as all services are monitored individually
- If one function fails, it does not lead to the collapse of the overall application, unlike in the case of monolithic architecture.
- Several versions of microservice architecture can run simultaneously as it works in an independent fashion.
Building a platform with microservices architecture
Fintech and cryptocurrency exchange software development can be carried out using various approaches and microservices is one of them. Further, let us comprehend the two main areas that can be enhanced using the microservice architecture.
Architecture and Scalability
The microservices architecture is not a new concept and is in use for a long time. It is rather a proven concept that combines various divisions such as service architecture, software development, API design, and delivery.
Microservices accelerates the deployment phase with full innovation and scalability of software applications. It also governs the maintainability of the program. There are various concepts of microservices and are characterized as below:
- Decentralized: It is a distributed ledger mechanism maintained in a decentralized management system. Under this, each microservice has its own data model that does not rely on a central database and works independently. The basic nature of microservices is also decentralized.
- Independent: Each component of microservices architecture can be altered, upgraded, downgraded or replaced at any time. It functions without affecting the operational activity of other components.
- Polygot: It does not follow a “one size fits all” approach and chooses a different mechanism to deal with specific problems. Thus, the approach followed is heterogeneous in nature for operating systems, programming language, tools, and data store.
- Do one thing well: Each component of the microservice architecture is planned according to the set guidelines and focuses on a specific area. Even if the complexity level increases to a certain limit, the service is divided into two or more sub-services.
- Black Box: Each component of microservice is defined as the black box, signifying that the complexity and operations of the individual unit remain hidden from other components. Any communication which happens remains unknown to other components.
- Self-control: The team that builds a service platform is responsible for its operations and maintenance. It is also called DevOps. In this mechanism, the developers and actual users come in contact with each other and understand each others’ requirements. Through this, the system design and organizational structure move in hand with each other and build an appropriate system.
Security
The security of microservices-based Fintech platforms is also top-notch. If you are using AWS, then the security layers are also built from scratch, including:
- SOC 1/SSAE 16/ISAE 3402 (formerly SAS 70)
- SOC 2
- SOC 3
- FISMA, DIACAP, and FedRAMP
- DOD CSM Levels 1-5
- PCI DSS Level 1
- ISO 9001 / ISO 27001
- ITAR
- FIPS 140-2
- MTCS Level 3
End Notes
The microservice architecture is used by smaller companies and large institutions across various applications. For starting your microservices-based cryptocurrency exchange software, you can choose between two options – white label development or building the exchange from scratch.
At Antier Solutions, we can develop a crypto exchange based on the microservice architecture. We offer both white label solution and can build a custom exchange for you from scratch.
Schedule a free demo of our white label exchange or connect with our subject matter experts to share your requirements for a custom exchange.
