When you choose to deal with a cryptocurrency exchange development company, then the lifecycle of your cryptocurrency exchange will be spread into 13 in-depth stages. Let’s have a look out what they are.
If you are the client/ or entrepreneur, then you will fall in the following 13 stages
Stage 1: Market Research & Analysis Stage
This is the first stage of entering into cryptocurrency exchange development. In this stage, you should go through deep research & analysis of the current market of the cryptocurrency trading industry. After the research, he/she should find out the loopholes, and failure points that are not focused on by the leading player in the cryptocurrency market.
Stage 2: Ideology Stage
In this stage, you should make an idea based on the research, and should enlarge it with several business modules to stand out from the competitive marketplace. To beat the competition the idea should be unique.
Stage 3: Plan Deriving Stage
Here you should derive a rough cryptocurrency exchange business plan by connecting all the business modules that are listed during the ideology stage.
Stage 4: Finding The Technical Resources Online
After deriving the business plan, you should browse for online resources, technical resources, companies, software services providers, and technology service providers.
Stage 5: Outreach to a Cryptocurrency Exchange Development Company
Extract the top three cryptocurrency exchange development companies and contact all the chosen companies via direct call, message, or email. Analyze how they are responding and choose one company that could meet your requirements both financially and technically. Check out their portfolio, and their growth graph in the cryptocurrency industry.
Stage 6: Escalating The Business Requirements
After reaching your desired company, escalate your business requirements, and make friendly contact with their team & representatives to discuss in detail about your project.
Stage 7: Scope Discussion & Finalizing the project
Discuss the scope, and technical resources, and confirm the project.
Stage 8: Business Plan Presentation & Project Team Allocation
In this stage, the company would bring you a business plan as a road map presentation & let you know the resource allocations.
Stage 9: Storyboard Preparation based on the modules
After allocating the resources, the escalated business plan will be prototyped as a wireframe. And then all the below processes will be done through the waterfall model.
Stage 10: Design Stage
The full-fledged development process will be done, each design stage will proceed into the next stage after the proper confirmation from both the client side and the technical team side.
Stage 11: Development Stage
Converting the website design into the development process. Proper testing will proceed after the completion of each module.
Stage 12: Testing Stage
After the completion of the entire website, it will be loaded into the local server, to check whether all the functionalities are working properly. If there are any bugs occurring, phases 10 and 11 will proceed again until solving the bugs.
Stage 13: Deployment Phase & Additional Changes
After testing the developed cryptocurrency exchange website and its functionalities it will be hosted with the support of the DevOps Team. Continuous monitoring will be done until there are no additional changes needed from the design and development side.
If you want to know more about the cryptocurrency exchange development process, you can explore this >> The 13 Stages Of Cryptocurrency Exchange Development Process. if you are confused about where I can get a cryptocurrency exchange script, no worry to need, nowadays many cryptocurrency exchange development company, like Bitdeal, who provides top-notch cryptocurrency exchange script.