Cryptocurrency Betting Platform

Project Overview

Country
Germany
Industry
Fintech
Timeline
July 2021 - April 2022

The client operates a cryptocurrency payment platform for esports betting. Before engaging Binariks, the company had launched a proof of concept and tested its MVP in the market.

The platform allows users to place esports bets using different cryptocurrencies and supports cold, warm, and hot wallets. The client planned to expand into North American and Asian markets and broaden its casino offering with custom games.

Business Challenge

The existing product structure made the platform difficult to manage, integrate, and scale.
The client wanted to reach users in North America and Asia and expand its offering.
The MVP required new statistics, betting history, currency data, and account management capabilities.
The platform needed stronger authentication mechanisms to support a more secure betting experience.

Our Solution

Approach

Binariks gathered a cross-functional team to estimate the as-is state of the product, find ways for improvement, and make a schedule for the implementation of the new scope of functions.

As a result of the collaboration, our client received a solution with revamped back-end and front-end parts of the product. The client can now scale the product, integrate it with multiple third-party services, and deliver a secure betting experience to its users.

Implementation

The state of the product didn’t allow the owner to integrate, manage, and scale it comfortably. So we’ve concentrated on analyzing ways to improve the product.

Then, we set out to re-engineer the front end of the platform using React.js. A large part of this phase was spent on reconstructing the monolith architecture of the solution with a microservices-based structure.

Our team helped the client to create a secure, scalable, market-ready product that is up to par with industry standards. We successfully rolled out new features:

Shifted to a microservice-based architecture
Integrated the platform with EveryMatrix to gather statistics and use the sports event calendar
Added betting history function for each account
Implemented two-factor log-in validation, email verification, and linked user account with phone number
Integrated Coin Market Cup to retrieve up-to-date currency exchange rates and planned out the transition from MetaMask to Solana to purchase cryptocurrency

Technologies Used

Cryptocurrency Betting Platform case study

Value Delivered

Binariks delivered a market-ready platform with modernized architecture, improved account security, and new functionality supporting data-informed esports betting.

Improved scalability: The monolithic backend was replaced with a microservices-based structure that is easier to integrate, manage, and scale.
Stronger account security: The team implemented two-factor authentication, email verification, and phone-linked user accounts.
Expanded user functionality: Users gained access to sports statistics, event calendars, betting histories, and current cryptocurrency exchange rates.