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Development of a Tezos-Based Decentralized Crypto Asset Market Platform
  1. case
  2. Development of a Tezos-Based Decentralized Crypto Asset Market Platform

Development of a Tezos-Based Decentralized Crypto Asset Market Platform

apriorit.com
Financial services

Challenge of Building a Decentralized Crypto Asset Marketplace on Tezos Blockchain

The client requires a secure, scalable, and transparent platform enabling users to independently borrow and lend various crypto assets via smart contracts, without reliance on a centralized authority. The platform must support multiple token standards on the Tezos blockchain, handle complex business logic through smart contracts, and facilitate rapid deployment and testing of platform features amid Tezos-specific technical limitations.

About the Client

A mid to large-sized blockchain technology provider specializing in smart contracts, crypto wallets, and blockchain-based financial solutions, seeking to expand into decentralized asset trading platforms.

Goals for Developing a Tezos-Based Crypto Asset Marketplace

  • Design and implement core smart contracts supporting multiple token standards (e.g., FA1.2, FA2) for comprehensive asset support.
  • Develop a decentralized, autonomous marketplace enabling secure lending and borrowing of crypto assets through smart contracts.
  • Create automation scripts to facilitate swift deployment, testing, and iterative development of smart contracts and platform features.
  • Test and validate platform core functionality through a prototype version, enabling early evaluation and feature planning.
  • Ensure platform security, performance, and scalability to support user demands and future feature expansion.

Core System Functionalities for a Decentralized Crypto Asset Market

  • Smart contracts supporting multiple token standards (FA1.2, FA2) for versatile crypto asset compatibility.
  • Decentralized governance logic embedded within smart contracts, automating transaction execution based on predefined rules.
  • Automated deployment and testing scripts for rapid development and iteration of platform features.
  • Callback mechanisms for transaction responses due to Tezos-specific contract communication constraints.
  • Operations batching to handle Tezos limit of 32 kB per transaction, enabling complex transaction sequences.

Preferred Technologies and Blockchain Frameworks

Tezos blockchain platform
Smart contract languages supported by Tezos (e.g., Michelson or higher-level languages compatible with Tezos)
Deployment and scripting tools suited for Tezos smart contract management
Automation scripts for deployment, testing, and maintenance

Necessary External System Integrations

  • Blockchain network nodes for transaction submission and smart contract interactions
  • Blockchain explorers for transaction tracking and verification
  • Secure key management systems for transaction signing

Non-Functional Requirements for Platform Performance and Security

  • Support for multiple token standards and different asset types
  • System scalability to handle increasing user base and transaction volume
  • High security standards to prevent smart contract vulnerabilities and attacks
  • Efficient performance to ensure rapid deployment, testing, and iteration cycles
  • Operation batch size management within Tezos limits

Anticipated Business Impact and Benefits of the Platform

By developing a fully functional test version of the decentralized crypto asset market, the platform will enable early validation of core functionalities, facilitating informed decisions on feature enhancements. The automation tools will accelerate deployment and testing cycles, promoting agility in platform development. The project aims to produce a secure, scalable, and versatile marketplace that enhances the client's capability to compete in the blockchain financial services sector, supporting rapid growth and increased user engagement.

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