Forewarned is Forearmed
Get acquainted with another element of the FinSafe ecosystem — the Market Information Module.
In this piece we continue our detailed story about all the elements that make our platform what it is. In the previous material, you had a chance to read about the Licensed Crypto Broker. This article is devoted to the Market Information Module — an indispensable tool for those who want to always be aware of the latest developments in the crypto market and, most importantly, are willing to turn the news into profit.
What is the primary task of this module? Briefly speaking, the MIM (the acronym for Market Information Module) is a tool that collects unique and relevant news related to cryptocurrencies that user is interested in. If an asset (which was selected for monitoring) is mentioned in the news, the system immediately displays these articles in all open windows on FinSafe. User can then decide how to use this information in their trading strategy. In the modern world, especially in the world of trading, this information often plays a crucial part in growth or collapse of an asset’s price.
Some readers may argue that MIM solution is quite similar to the good old RSS feed. Well, they are only partly correct. The first difference is that in contrast with conventional RSS, the MIM is integrated into UI of the Trading Platform. This means that traders can rely on relevant information on the crypto pairs they are trading right from their working space — without the need to switch to other resources. The second difference is that the MIM checks the uniqueness of the available relevant news and selects the primary news source, which is often replicated by numerous outlets and groups. Therefore, it makes tracking genuinely unique content from the entire market much easier and faster, completely removing the need to read news aggregators, where information is often duplicated in one or another way.
Under the hood
To describe the architecture of the MIM, let us shine some light on our Whitepaper again. The MIM technology is quite straightforward. Like any other RSS reader, we have Newsfeed Backend Service (NBS) that scans all the RSS feeds which our moderators or customers have added to the system. Upon finding the news item that mentions one of our crypto pairs, NBS sorts them by attributing to the relevant crypto pairs. It then stores all the news data that it processed in News Data Storage (NDS) database and starts broadcasting processed news datasets to customer devices via Publisher-Subscriber architecture.
The Subscriber on customer’s device fetches news crypto pairs from NBS and provides them to frontend UI within Market Screener and COB. There are two layouts in which MIM news pairs are visible: General Relevant News Window, which aggregates worthy market news about any coins and functions akin to Facebook’s newsfeed and News Window for the Selected Crypto Pair, that works as an RSS topic and aggregates news about the specific crypto pair.
The process doesn’t sound that tricky, but there is significant technical work happening behind the scenes, which will bring even greater profit to any trader when finished.