How skalex Helped Coinhub Launch
a Fully Custom, High-Volume Exchange

At skalex, we’re proud of the companies we work with and the products we’ve built. From time to time, we like to share case studies about our clients and the projects we’re working on. This case study features the custom cryptocurrency exchange platform and user interface we built for Coinhub, a leading exchange in Asia and the Middle East.

Despite only launching in November of 2017, Coinhub has rapidly grown in daily volume and number of users. Along the way, skalex has implemented hundreds of custom features and design updates to make the exchange run as smoothly as possible, including upgrading the exchange’s server architecture as Coinhub grew.

ChaLLenges

The Coinhub team approached skalex in June 2017. They wanted a highly-customized exchange and intuitive user interface, but they also wanted to launch fairly quickly. The turnaround for launching a minimum viable product to the public was only 5 months.

In addition to the quick timeline, the sheer amount of customization needed was a major challenge to development. Coinhub needed access to new features, custom variables, and advanced metrics. They also wanted to support many cryptocurrencies, including some very niche coins. This required wallet support for many users and multiple blockchains. skalex would need to build a custom UI, trading portal, live tickers for many cryptocurrencies, and secure multi-currency wallet system.

In addition, the Coinhub team hoped to get the exchange listed on CoinMarketCap, which requires a low-latency API for volume metrics and other custom datastreams. Finally, the exchange would need KYC protections beyond skalex’s standard KYC offerings. Instead, they requested a multi-tier KYC system with various levels of identity verification and authorization.

Process

Building the Coinhub exchange on a tight deadline was a team effort. In total, the design team alone spent over 500 hours on design, mockups, implementation, and fine tuning for every element of the user interface. Multiple rounds of client review, user stories tracking, and internal edits made for a fully custom user interface unique in the cryptocurrency market.

Behind that user interface, skalex’s engineers created novel code and figured out new solutions to create custom, nonstandard functionality for the Coinhub exchange. These included custom bids and asks, multiple market integrations, market data tables, volume tickers, and an external API. Frequent releases in an agile development environment allows skalex to add ongoing improvements and responsive bug detection/fixes.

results

Coinhub launched to the public in November 2017. It quickly gained traction in the region and as an outlet for several niche altcoins. In the early days, Coinhub ran on skalex’s starter package of server infrastructure, but the exchange quickly outpaced the starter package and soon needed to be upgraded to the ultimate package. skalex executed the move to the new server infrastructure with minimal downtime and zero loss of data or functionality.

There’s still work to be done. The multi-currency wallet needs updates to add more niche coins and streamline the transactions and connection with the Ethereum blockchain. Additionally, Coinhub will be releasing a PRO version of the exchange for advanced users with enhanced functionality and added tools.

“The Coinhub Team see a partner in skalex. Together, we are constantly challenging each other’s teams to create a world-class exchange. We have no doubt that we can achieve this and become one of the leading exchanges in the market”

Abbas Roda, Co-Founder & CEO – Coinhub.io

Launch an Exchange with skalex

skalex is the industry leader for white label bitcoin and cryptocurrency exchanges. You can license our software to create your own exchange and customize our solution yourself. However, the real benefit of skalex’s expertise is in custom-developed solutions like Coinhub. We understand the code and integrations behind various blockchains and we have deep experience creating custom solutions for our clients.

Get in touch to learn more about how our custom blockchain development solutions can work for you.