Developing a Bitcoin/Devcoin Exchange using Ruby On Rails


These sets of episodes describe the end to end process of creating a fully functioning Bitcoin/Devcoin currency exchange. The articles will explain step by step how to setup your server, the software stack required for developing and running the exchange as well as the development of the exchange itself.

The exchange will have features such as.

Support of only two currencies, Bitcoin and Devcoin. For the sake of simplicity, we will design and code the exchange in such a way that is supports only two currencies. It will only be possible to buy DVC or sell DVC (in exchange for BTC). We won’t have the option to buy or sell BTC (in exchange for DVC). An API that allows the retrieval of general information such as order book, etc. as well as full trading functionality eMail notifications for fund deposits, withdrawals as well as order executions The exchange application will consists of a software stack of:

Ubuntu Fail2ban Apache2 Ruby on Rails Phusion Passenger MySQL Bootstrap Google’s Recapcha Google’s Analytics Sendmail Resque Redis Memcached Devise Looks like a long list of items needed to run a web application? Well, if you plan to run a web application on the internet, you’ll be looking at all these items - this is the minimum software stack - I haven’t even gone into the details of the various RubyOnRails Gems that we will be working with. Document structure The articles are split into several episodes each focusing on specific parts of the development process:

  • Episode 2: Setup application template
  • Episode 3: The basic version of the exchange application
  • Episode 4: Integrating the Bitcoind and Devcoin daemons
  • Episode 5: eMail confirmations using Resque and Redis for asynchronous processing
  • Episode 6: Two-factor authentication
  • Episode 7: Google authentication
  • Episode 8: Installing a SSL certificate

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