Good morning guys.
In this course, let’s develop a crypto wallet and exchanger system that we can use for exchanging fiat money with crypto coins and tokens, and a crypto currency to other crypto currencies as well.
Actually. Do we still need this kind of crypto exchanger systems nowadays?
Well, the answer is Yes.
As long as the fiat money exists, an exchanger system is still required to exchange fiat money to crypto currencies and vice versa.
Basically, an exchanger is used to bridge the blockchain networks like Bitcoin, Ethereum, Polygon, or Binance, with fiat money networks like payment gateways to local banks or credit card network, so users can exchange money to, and from those networks.
There are 2 kind of exchanger nowadays.
Centralized Exchanger (CEX). In this exchange there’s an entity or company that manage the user accounts and all the transactions happening between those accounts.
For example Binance, Kraken, Kucoin, Huobi, etc. Here, users must first deposit fiat money to the wallet that exists on that C.E.X, after then, they can do the exchange transaction (like buy or sell) to other cryptocurrencies.
The second type of exchanger is Decentralized Exchanger (DEX).
In this kind of exchanger, there are no single entity that manage the user account data.
All accounts and transactions are managed by a program called smart contract, that is decentralized and distributed on all of the nodes of the network.
For example, PancakeSwap, Uniswap, BakerySwap, and other kind of swaps.
The cryptocurrency balance is managed and stored on the blockchain network and displayed on each user’s wallet device.
To execute the transaction with the DEX’s smart-contract, users must use crypto wallet like Metamask, Safepal, etc.
This course focus is on how to build a CEX, how it works, and how to implement one with Odoo 15 as the central users database.
These are the topics we must master to be able to build a CEX system.
1. Defining the system features. Define the scope of the application and what we will develop, and how it will work.
2. Designing the system architecture that will cover all of the desired features.
3. Designing and setup the system infrastructure: Preparing Docker Stacks, Installing Metamask, Configuring OpenEthereum node to connect to Ethereum network, and Configuring Bitcoind node to connect to Bitcoin network.
4. Designing the application UML Class Diagram and Generate Base Addons with Odoo UML Generator tool.
5. Implementing the e-wallet functionalities: executing e-Wallet transactions, get e-Wallet balance, get client’s total balance.
6. Create test scenarios, checking client’s balance.
7. Creating currency inverse rate addon.
8 .Creating addon to get coin price from CoinMarketCap.
9. Executing transfer transaction between accounts.
10. Executing Deposit and Withdrawal transaction.
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