NFT Launchpad/Mint/Market Place

This is a set of projects related to NFT. It includes NFT Launchpad, building a website that shows release information of an NFT collection. Next is building the Mint-NFT function to help create NFT Collections and store them on the Blockchain system. Finally, NFT Market Place supports users to upload, buy, or sell their NFTs.

Project Overview

Client

Client name: Private
Nation: Private

Industry

Private

Platform

Web Application

Team Size

Private

Technologies

Private

Features & Security

Functional

Integrate MetaMask
Show release information of NFTs (roadmap, meaning, price, hash…)
Store purchased NFT information for each user. Users can log in to see the NFTs that they have purchased
Generate a set of NFT collections based on rarity levels or predefined criteria
Upload NFTs and allow users to buy/sell NFTs with each other through Market Place

Non-Functional

High Performance Auto-scaling server system ensures smooth operation with tens of thousands of concurrent users
Web Responsive Ensuring optimal system performance across different web platforms and devices
User Experience Clear warnings and prevention of transactions if the minimum amount received is significantly lower than expected, avoiding user confusion and financial losses

System Security

HMAC Authentication Verifies that requests are coming from expected sources and have not been tampered with during transit
DDoS Attack Prevention Utilizing CloudFlare, the system can monitor and quickly block DDoS attacks based on request IP addresses
XSS, CSRF & SSRF protection
Encrypted data User’s sensitive information related to banking, phone numbers, addresses, etc., is encrypted in the database
CloudFlare (CDN) integration Integration with CloudFlare enables easy prevention of DDOS attacks, unauthorized access through OTP verification, and real-time security monitoring
IP Whitelist/VPN Access to the web admin system is restricted to IP Whitelist or authorized VPN accounts
Secret key stored in Vault All project keys (such as secret keys, third-party API keys) are stored securely in a separate storage system (without any information stored in the database or source code)
Multisignature cold wallets
Hide sensitive data in logs All important information is hidden in the system logs
Frequent security scanning with OWASP, SynkIO, and AWS Security Scans Integration of well-known security scanning tools such as OWASP, AWS Security Scans, and mandatory SEC tools ensures the detection of security issues and daily updates on new security vulnerabilities

User Security

Two-factor Authentication Integration of One-Time Password (Google Authenticator) for functions such as FIAT/Crypto Withdrawal and User Security Features
Login Throttling Limits the number of logins attempts an attacker can make while providing multiple opportunities for users to remember their passwords
Complexity policy for password and PIN Ensures a certain level of complexity for passwords and PINs (for mobile phones) to prevent easy guessing by hackers

Solutions

We developed this project with a team of experienced developers in the blockchain field, and using smart contracts to create NFT based on ERC 721 & Solana NFT standard (Store image on IPFS, and ID on smart contract). For Marketplace, we create smart contracts to execute buy and sell orders (the seller will push the sell order up to a smart contract, and the buyer will also push the buy order up to that smart contract. Finally, the smart contract will execute transferring money to the seller and transferring NFT to the buyer)

Use smart contracts to create NFT based on ERC 721 & Solana NFT standard

For Marketplace: Create smart contracts to execute buy and sell orders

Challenges

The project team encountered no technical challenges, including achieving the system’s functional criteria as specified by the SEC, based on prior experience working on other exchange systems. However, the project has to face challenges due to the Cryptocurrency downtrend:

Financial Impact of Cryptocurrency Downtrend

Risk of Uncertain Market Conditions

Balancing Project Quality and operational Cost

Managing Stakeholder Expectations

Ensure legal protection for users set by the Securities and Exchange Commission (SEC)

Cost & Quality Optimization

The way we save cost and optimize quality for this project:

Use IPFS to store data for saving costs.

Consult with the company’s Blockchain experts for advice.

With the current capabilities of AI in assisting various tasks, applying AI to tasks such as UI design, testcase review, and source code review has helped the project team save a significant amount of time and effort.

Using SonarQube for automated code review helps save costs associated with manual code review and ensures the quality of the source code.

Each project involves both experienced and new team members. Although all team members receive training before joining the project, it is not possible to cover the entire system comprehensively. Therefore, to accelerate project progress and ensure the highest quality, it is essential to assign experienced individuals to tasks that require expertise in a specific domain. For example, when developing a Mobile App, experienced individuals can handle API integration for screens with complex logic, while newcomers can focus on UI development, requiring little or no experience in Crypto Exchange.

It may seem difficult to persuade, but usingthird-party services can save more money than handling a service internally. For instance, by using a third-party service for Slider Captcha (a service provided by a dedicated team), the project can save costs compared to implementing and maintaining a separate service. Based on the company's experience and project team's expertise, they have identified third-party providers with the best cost-effectiveness, stable service quality, and sustainability.

Each error results in a series of related actions, such as logging bugs, fixing and retesting, reporting, and capturing evidence. By ensuring strict quality processes within the company, the project team has minimized the occurrence of errors, reduced rework time and saving costs.

With their own experience and a team of experienced consultants, the project's technical and business implementations are streamlined and accurate, minimizing costs, time, and resources. For a large-scale project, even a single incorrect business or technical approach can lead to a cascade of issues. By forecasting and providing appropriate solutions based on previous project experiences, this project ensures the highest quality while maintaining reasonable and cost-effective measures.

Accomplishment

The project has exceeded expectations, within 2 months' time. In addition to providing products as required by customers, we also provide suggestions/support to customers with accompanying solutions (Mint NFT as well as advice during the operation of NFT Market Place).

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NFT Launchpad/Mint/Market Place