Articles
June 21, 2022

How is MobiDAX relevant to OpenDAX? & What is OpenDAX in the first place?

In this article we will cover OpenDAX’s key components, to help you better understand responsibilities of individual services and their correlation with one another.

There’s a great deal to be said about OpenDAX project and the team responsible for continued improvements to the core opensource components Peatio & Barong. In this article we will cover OpenDAX’s key components, to help you better understand responsibilities of individual services and their correlation with one another.

First of all, what does OpenDAX mean? The world ‘Open’ is for Opensource and ‘DAX’ means Digital Asset Exchange. Yes, this is the most advanced Opensource project for deploying a Centralized Cryptocurrency and Fiat Brokerage/Trading Platform. Staying true to its Opensource roots one can find an array of software development companies continuing to improve the software components and developing add-on services, 3rd party integrations and an array of advanced turn-key solutions like MobiDAX. Wide range of tutorials and thorough documentation make this the go to Opensource project for building your Exchange Platform.

Now that our brief introductions are out of the way, let’s review the components in Peatio/OpenDAX stack:

OpenDAX-Stack-Original-Architecture

What is Peatio?
Peatio is the primary component of the stack. It is directly responsible for managing accounting: deposits, withdrawals, trades, fees and any financial transaction taking place on the Trading Platform. Peatio is also responsible for interacting with, and managing blockchain nodes.

Peatio is the core component of the exchange, responsible for managing platform accounting, balances, deposits, withdrawals and all exchange trading activities. Peatio also manages blockchain nodes capable of supporting most existing digital assets, tokens and cryptocurrencies. Today, Peatio supports Bitcoin, Litecoin, Ethereum ERC20 Tokens, Ripple and Dash, but one can easily extend the support to other blockchains and currencies.

What is Barong?
Barong Component is one of the primary services in the Peatio Cryptocurrency Exchange Software Stack. It is responsible for user authentication and manages users profiles. Barong has proprietary KYC functionality, giving you the liberty to review user submitted data and documents for approval. If you prefer to utilize a 3rd party service provider to conduct external KYC, Barong allows you to easily connect to these services and fully automate the KYC process.

What is Tower?
Tower is OpenDAX Admin Interface covering a wide range of Cryptocurrency Exchange operational needs. User activity on the platform, trading activity, KYC administration, deposits, withdrawals, trading pair, coin, token and blockchain node management. On the other hand, Tower is partially Opensource, meaning that you can only utilize an image of Tower without purchasing a license, so if you want to customize Tower, you can only do so by contacting MobiDAX team.

What is Baseapp?
Baseapp is a React based Front-end interface for end users. It is highly customizable, but its base deployment is already packed with all the necessary usability features for a Cryptocurrency Trading Platform. In general, Baseapp has a number of drawbacks that we will discuss in another article, but as a kick-off product that you can customize for your Crypto Exchange, it is a hands down winning solution if you want to go purely Opensource. As an alternative to Baseapp, you can build your own front end, or purchase MobiDAX Web UI. MobiDAX Front-end Web UI is 100% mobile responsive and its native cross-platform functionality allows you to support iOS/Android tablets and mobile devices from a single code base.

What is Rango?
Rango is an evolution of Ranger, a component responsible for dispatching public and private messages between OpenDAX components using message queues. Rango differentiates greatly from its predecessor advancing its capabilities as a high performance websocket server and directly impacts the end-user by transmitting an uninterrupted flow of real time data to their trading interface.

What is MobiDAX?
MobiDAX is an add-on service to Peatio/OpenDAX stack. It is the Front-end UI for Peatio/OpenDAX software stack and is a direct plug-in solution for deploying iOS and Android applications in Apple Store and Google Play Market. MobiDAX. Developed on Flutter (by Google), MobiDAX Front-end UI for Mobile is the ultimate upgrade for your Peatio based Cryptocurrency Exchange Service.

MobiDAX-Stack-for-Peatio

MobiDAX Support for Peatio/OpenDAX/MobiDAX
MobiDAX team continues to improve Peatio/OpenDAX stack by not only improving the existing software components, but by producing innovative solutions, services as well as educational material for the Opensource Community. With nearly 4 years of experience of working with this software stack, MobiDAX team developed, customized and deployed more than 50 Cryptocurrency & Fiat Trading Platforms. Many of which can be found in the Top 100 on CoinMarketCap.

From software development to powerful add-on services for your Peatio/OpenDAX stack, MobiDAX team has a range of solutions from Start-ups to Enterprise. We will gladly review your project details, share our knowledge base and if Peatio/OpenDAX by MobiDAX is not the perfect solution for you, we will suggest the best fitting software for your specific needs.

MobiDAX experience and professional development team and management look forward to hearing from you! Join us across social media or contact us today!

Telegram: telegram.me/mobidax_group
Youtube: https://bit.ly/2H58KVc
Twitter: https://twitter.com/MobiDAX
LinkedIn: https://www.linkedin.com/company/mobidax
Facebook: https://www.facebook.com/MobiDAX
Original Article: https://blog.mobidax.io/mobidax-launching-youtube-channel-for-cryptocurrency-trading-software-education-and-developer-training

Andy Smith

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