HomePortfolioAutomating a Blockchain-Based Trading Platform Holding $15 Billion in Assets

Automating a Blockchain-Based Trading Platform Holding $15 Billion in Assets

Finance
CI/CD
Cloud-Native
Kubernetes
Blockchain

A fintech provider turned to Altoros to deploy a blockchain-Based trading platform to production, while enforcing security, achieving compliance, and automating workflows.

Automating a Blockchain-Based Trading Platform Holding $15 Billion in Assets

About the project

Brief results of the collaboration:

  • The company achieved compliance—related to infrastructure security—by FINMA and successfully deploy the blockchain platform to production, while ensuring high availability and scalability. This enabled the customer to onboard its major business partner and tokenize commodities worth $15 billion.
  • With to infrastructure-agnostic scripts, the organization can now onboard its other partners, operating around $200 billion annually, as well as add new ones in a matter of days instead of months.
  • Thanks to the continuous integration/delivery (CI/CD) pipelines in place, the provider automated manual operations, making it possible to spin up infrastructure from scratch in just 6 hours instead of days.

The customer

Founded in 2019, the company is a fintech provider, aiming to facilitate the digitization and tokenization of industrial commodities (e.g., mined metals). The customer’s business network includes 7 leading producers in mining, energy, and other industries. The revenue of the partners in the network approaches $200 billions annually.

The need

To tokenize industrial assets of business partners and ensure secure trading, the customer developed a blockchain platform based on Hyperledger Fabric. The provider planned to onboard one of its major partners—whose asset value amounts to $15 billions per year—to the platform and then scale it out to the whole network. However, the underlying infrastructure was not mature enough for a production deployment. In addition, spinning up infrastructure took up days or even weeks.

Relying on blockchain expertise at Altoros, the company wanted to address the existing issues around security and compliance, automation, scalability, etc., to safely move into production.

The challenges

Under the project, the team at Altoros had to address the following issues:

  • The platform had to comply with the FINMA regulations developed for traditional financial services rather than Blockchain-Based, which imposed certain technology-driven constraints.
  • For security purposes, the company implemented a custom-built byzantine fault tolerant (BFT) consensus protocol. However, the implementation caused unexpected errors and sabotaged quality assurance tests.

The solution

Stage 1. To comply with strict security regulations, DevOps experts at Altoros developed a cold storage system using encrypted, password-protected, hardware for managing certificate authority.

To further enforce security, the developers employed additional tools and methods—such as Google Cloud’s Identity-Aware Proxy, firewalls configured with Terraform, bastion hosts, etc.—to manage and secure access between nodes in the blockchain network.

Stage 2. Engineers at Altoros investigated the custom BFT consensus protocol and identified issues that would cause problems in production.

The team then configured a centralized logging tool with Google Cloud Logging and a secondary monitoring tool based on Prometheus and Grafana. In this manner, logs can be filtered with queries, making it easier to detect and resolve errors.

Stage 3. With extensive experience in Hyperledger Fabric, developers at Altoros successfully deployed the platform and its custom consensus protocol into production, ensuring high availability.

To enable the blockchain network to scale up, developers at Altoros created infrastructure-agnostic Ansible scripts, facilitating the onboarding of new partners in a matter of days instead of months.

Stage 4. By building continuous integration/delivery pipelines with GitLab CI, the engineers sped up the process of spinning up the infrastructure and automated manual routine (e.g., establishing connection between the nodes in the blockchain). This way, it became possible to have an up and running infrastructure from scratch in just 6 hours instead of days.

Additionally, the team at Altoros deployed the services to Kubernetes to be used as middleware for the platform and existing off-chain infrastructure.

The outcome

Partnering with Altoros, the provider was able to achieve compliance related to infrastructure security by FINMA and successfully deploy the blockchain platform to production, while ensuring high availability and scalability. This allowed the customer to onboard one of its major business partners and tokenize commodities worth $15 billion. Thanks to infrastructure-agnostic scripts, the organization can now onboard its other partners—who operate around $200 billion annually—as well as add new ones in a matter of days instead of months. With CI/CD pipelines in place, the company fully automated manual operations, making it possible to spin up infrastructure in just 6 hours instead of days.

Technology stack

Platforms

Hyperledger Fabric, Google Cloud Platform

Frameworks and tools

Docker, Kubernetes, GitLab CI, Grafana, Prometheus, Ansible, Terraform, Bash

Database

PostgreSQL, GoLevelDB

$15B

value of
assets traded

6 hours

to deploy
infrastructure

7

partners in
the blockchain

Contact us

Let’s Talk

Ryan Meharg

Ryan Meharg

Cloud Solutions Architect

ryan.m@altoros.com650 265-2266

4900 Hopyard Rd. Suite 100 Pleasanton, CA 94588