Problem Statement

The bitcoin-based fund management system is a pioneer in the bitcoin-based transaction system. The system was under development since early 2014 and when TechInfiniti took over in Jan 2016 the system had an uptime of only 15 days. The problem faced by the fund was on multiple fronts.

The Challenge

Amongst the chief problems that the fund faced-

  • BlockCypher, BlockChain.info were some of the providers that BTCFund under the former development had employed but none of them could provide scale of operation that the fund required.
  • This problem created a ‘question of existence’ for the fund itself. The power of blockchain technology and distributed ledger with auto authentication was being denied to users.

Functional and Technical-

  • TechInfiniti inherited a rudimentary system with less than 50% of the go-to-market functionality in place. E.g. Cycled out operational process was not there, fund and accumulation calculation issues and very limited information available on user activation that wasn’t useful anyways, bugs in Registration process.

TI Solution

TechInfiniti took up system development in January of 2016 and the system was relaunched on April 30th 2016 with full go-to-market functionality-

  • Establish own bitcoin node based on Bitcore© for all Bitcoin Wallet operation including
    • Fully operational wallet service
    • Generating addresses (UUWAs)
    • Querying unspent outputs on own addresses (UTXOs),
    • Creating transactions
  • Developing the cycleout process
  • Correction of system and user logs, user structure, referral amounts
  • Revamping of UI to a framework (AngularJS) based implementation
  • Introduction of Locked Accounts
  • Launching of BTCFund Admin
  • Enable multi registration functionality

TechInfiniti is also looking at data centre operations for the fund and scaled up the cloud infrastructure considerably to handle increased users on the system.

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