KRYPT : A Digital Cryptocurrency For Exchang

International Research Journal of Engineering and Technology (IRJET) e-ISSN:2395-0056

Volume:12Issue:04|Apr2025 www.irjet.net p-ISSN:2395-0072

KRYPT : A Digital Cryptocurrency For Exchang

1 Yash Kulkarni, 2 Mahesh Joshi, 3 Rohan Chavan,4 Varunraj Patokle, 5Antosh Dyade

1,2,3,4,5UG Students, Department of Computer Science and Engineering, SVERI’s College of Engineering Pandharpur, Maharashtra, India

6Assistant Professor, Department of Computer Science and Engineering, SVERI’s College of Engineering Pandharpur, Maharashtra India

ABSTRACT

This project focuses on designing and implementing a cryptocurrencyexchangeplatformbuiltontheEthereum blockchain, with MetaMask serving as the primary tool for transaction facilitation. The platform provides a secure and user-friendly interface for trading various cryptocurrencies, enabling seamless connectivity with MetaMaskwalletsfordeposits,withdrawals,andtrading activities.

Leveraging Ethereum's powerful smart contract capabilities,theplatformensurestransparentandsecure trade execution through automated processes. Key features include real-time market data, a user-friendly trading interface, and an integrated wallet management system with MetaMask, allowing users to maintain full control of their private keys. Security is prioritized throughadvancedmeasuressuchasSSLencryption,twofactor authentication, and thorough auditing of smart contracts.

This project addresses the increasing need for decentralized finance (DeFi) solutions by offering an efficient and accessible trading experience. With a focus on scalability and an optimized user experience, the platform empowers users to engage confidently in the dynamicworldofdigitalassets.

1. INTRODUCTION

We have transformed the financial landscape in recent years, creating new opportunities for investment and transactions. This project involves building a cryptocurrency exchange platform utilizing Ethereum, a prominent blockchain technology known for its smart contract capabilities. By leveraging Ethereum’s decentralized infrastructure and integrating the widelyused MetaMask wallet, the platform aims to deliver a secure, intuitive environment for seamless cryptocurrency transactions and enhanced access to digitalassets.

The platform's primary goal is to provide a comprehensive trading solution for both beginner that anyone withaccesstoa smartphonecan explorefamous landmarks, historical sites, and cultural wonders from

aroundtheglobe.Akeyfeatureoftheapplicationisitsuse of 360-degree panoramic views. This tech nology allows users to virtually ”walk” through destinations, giving them a sense of immersion similar to actually being there. This feature is enhanced by the integration of AR, which overlays interactive elements onto the virtual environment.Userscanviewdetailedinformationabout landmarks,navigatethroughinteractivemaps.

2. LITERATURE SURVEY

The rise of decentralized exchanges (DEXs) and blockchain-based trading platforms has been fueled by the growing demand for more secure, transparent, and self-regulated financial systems[4]. Unlike centralized exchanges (CEXs), which act as intermediaries between usersandassets,DEXsenabledirectpeer-to-peertrading on the blockchain. This decentralization enhances security and control, as users retain ownership of their privatekeysandfunds.[1]

This literature review explores the current landscape of blockchain-based decentralized exchanges, focusing on technologies like Ethereum, smart contracts, and MetaMask.[5] It also examines decentralized finance (DeFi) protocols and compares various projects in the field. By reviewing existing platforms, this study highlights how the proposed project advances upon previous works, with particularemphasis on integrating MetaMask and enhancing scalability, security, and user experience.[2]

Centralizedvs.DecentralizedExchanges

CentralizedExchanges(CEXs)suchasCoinbase,Binance, and Kraken have dominated the cryptocurrency market due to their liquidity, fast transaction speeds, and userfriendly interfaces.[6] However, CEXs come with significantdrawbacks:

● Custodial Nature: Users do not control their private keys, as the exchange holds custody of funds,creatingpotentialsecurityvulnerabilities, asdemonstratedbymajorhackslikeMt.Goxand Coincheck.[11]

International Research Journal of Engineering and Technology (IRJET) e-

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Volume:12Issue:04|Apr2025 www.irjet.net p-ISSN:2395-0072

● RegulatoryOversight:CEXsareoftensubjectto governmentregulations,whichcancreate.[7]

Understanding Blockchain Technology Blockchain technology underpins Ethereum and other cryptocurrencies.Researchemphasizesitsdecentralized, immutable ledger, enabling secure and transparent transactions without intermediaries. Key studies highlight Ethereum's smart contract capabilities, which support complex programmable transactions and decentralizedapplications(dApps).[12]

Ethereum’s Role in the Crypto Market Ethereum is recognized as the second-largest cryptocurrency platform, offering advanced functionalities beyond simple transactions. Literature identifies its utility in enabling token creation, decentralized finance (DeFi), and other blockchain innovations, making it a preferred choice for exchange platforms.[3]

Security Challenges in Cryptocurrency Exchanges[4] Security remains a critical concern, as exchanges are frequenttargetsforcyberattacks.Researchdiscussesthe implementation of robust security protocols, including multi-signature wallets, end-to-end encryption, and decentralized storage solutions, to enhance platform resilience.[9]

RegulatoryandComplianceConsiderations

Studies highlight the evolving legal landscape surrounding cryptocurrency exchanges, including Know YourCustomer(KYC)andAnti-MoneyLaundering(AML) regulations[8]. Literature suggests that compliance with these regulations isvital for legitimacyand usertrustin the platform. 1. Vernekar et al. (2020) presents an exploration of blockchain technology for developing a secure, transparent, and cost-efficient e-voting system, addressingtechnical,legal, andsecuritychallengesinits implementation[17].

3. OBJECTIVES

This project aims to create a cryptocurrency exchange platform that ensures secure and efficient transactions foruserslookingtotradedigitalcurrencies.Theplatform will prioritize a user-friendly interface, making it accessibletobothbeginnersandexperiencedtraders.By supporting a wide variety of cryptocurrencies, the exchangewillcatertodiverseuserpreferences, allowing trading in popular coins like Bitcoin and Ethereum, as wellasemergingtokens.

To enhance security, the platform will implement advanced features such as multi-factor authentication, encryption, and offline wallet integration to safeguard user assets. Additionally, real-time market data and

analytical tools will provide users with up-to-date insights, enabling them to make informed trading decisions.Theplatformwillcomplywithglobalandlocal regulations, incorporating Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols to ensure transparentandlawfuloperations.

A scalable infrastructure will be developed to handle high transaction volumes seamlessly, ensuring a smooth experience even during peak trading periods. The platform will support multiple payment gateways, including fiat currency options, credit cards, and cryptocurrency wallets, to facilitate easy deposits and withdrawals. To foster a sense of community, interactive featureslikeforums,educationalresources,andfeedback mechanisms will be integrated. Furthermore, 24/7 customer support will be provided to address user concernspromptly,enhancingtrustandsatisfaction.

2. PROBLEM STATEMENT

The cryptocurrency market has grown significantly, but existing exchange platforms face several challenges that hinder widespread adoptionanduser satisfaction.Many platforms are complex and intimidating for new users, c reating a barrier to entry for those unfamiliar with cryptocurrencytrading.Securityvulnerabilitiesremaina major concern, with incidents of hacking and asset theft erodingusertrust.Additionally,regulatorycomplianceis ofteninconsistent, exposing usersandplatformstolegal risks.

Another issue is the limited support for diverse cryptocurrencies and payment methods, restricting user flexibility. High transaction fees and slow processing times during peak trading periods further detract from the user experience. Furthermore, most platforms lack robustcommunity engagementfeatures,deprivingusers of access to educational resources and peer interaction, whicharecriticalforinformedtrading.Addressingthese challenges through an advanced cryptocurrency exchange platform can provide a secure, accessible, and feature-richtradingexperienceforadiverseuserbase.

The cryptocurrency exchange market faces critical challenges that hinder its potential to become a universally trusted financial system. One of the major issues is the lack of a seamless and secure trading environment, with many platforms failing to address vulnerabilitiessuchashackingandfraudulentactivities.

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Volume:12Issue:04|Apr2025 www.irjet.net

5. METHODOLOGY

1. RequirementAnalysis

The first step in the project involves defining the system’sfunctionalandnon-functionalrequirements:

● User Requirements: This includes understanding the platform’s key features such as the ability to trade various cryptocurrencies, manage liquidity pools, and integrate MetaMask for wallet management and transaction handling.

● Technical Requirements: Identifying the system’s technical specifications, including the use of the Ethereum blockchain, integration of MetaMask, smart contracts for decentralized transaction execution, and Web3.js for blockchaincommunication.

2. SystemDesign

Once the requirements are clearly defined, the design phase begins, focusing on both high-level and detailed systemdesign:

● Architectural Design: Creating a high-level system architecture, which includes the user interfaces, smart contracts, and MetaMask integration.

● Data Flow and Sequence Diagrams:Designing diagrams that illustrate how data moves between system components, from user inputs totransactionsontheEthereumblockchain.

● SystemDesign

● Once the requirements are clearly defined, the designphasebegins,focusingonbothhigh-level anddetailedsystemdesign:

● Architectural Design: Creating a high-level systemarchitecture

UserInterfaceDesign(HTMLandCSS)

Create a responsive and intuitive user interface using HTML for structure and CSS for styling, ensuring accessibilityandseamlessnavigationacrossdevices.

Fig.1Technologiesusedfortheproject.

Fig 1 Create a responsive and intuitive user interface using HTML for structure and CSS for styling, ensuring accessibilityandseamlessnavigationacrossdevice

DynamicUserInteractions(JavaScript)

Implement interactive features like real-time price tracking, trade execution, and chart visualizations using JavaScripttoenhanceuserengagementandfunctionality.

ValidationandFormHandling(JavaScript)

UseJavaScripttoperformclient-sidevalidationsforuser input in forms, such as registration and login, ensuring dataaccuracybeforesubmission.

SmartContractImplementation(Solidity)

Develop secure and efficient smart contracts in Solidity to handle core functionalities, such as managing user wallets, executing trades, and recording transactions on theblockchain.

DecentralizedAssetManagement

Use Solidity to create mechanisms for storing and transferring cryptocurrencies directly on the Ethereum blockchain,reducingrelianceoncentralizedsystems.

6. FLOWCHART

● 3User Initiates Connection: The user interacts withthewebapplicationandchoosestoconnect theirwallet.

● Web Application: The web application initiates theconnectiontotheuser'swallet.

● MetaMask: Theuser'sMetaMaskwalletreceives theconnectionrequest.

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Volume:12Issue:04|Apr2025 www.irjet.net p-ISSN:2395-0072

● MetaMask Prompts User: The MetaMask prompts the user to approve the connection requestfromthewebapplication.

● User Signs & Confirms Action: The user reviews the request details and signs the transactiontoconfirmtheirapproval.

● User Authentication & API Validation: The web application receives the signed transaction and authenticates the user's identity. The web applicationthenvalidatestheuser'sactionsand grantsaccesstotherequestedfeatures.

Thisflowchartillustratesthesequenceofeventswhena user connects their MetaMask wallet to a web application.Thewebapplicationsendsa

2 Encryption is the process of converting plain text or sensitivedataintoacodedformtopreventunauthorized access.Theencryptionprocessusesanalgorithmandan encryptionkeytotransformreadable

Fig 3.Flowchart

After selecting a destination, the system retrieves relevant data, including 360-degree views, augmented reality features, and multimedia content. Users can explore the virtual tour, leave feedback, or download contentforofflineaccess.Theprocessends withoptions tonavigatetoothertours,viewsaveddestinations,orlog out.

The architecture leverages cloud services for hosting multimedia content and supporting real-time updates, ensuring scalability and high availability. Additionally, APIs such as Google Maps and ARCore are integrated to enhance location-based services and augmented reality experiences.

7. RESULT

Fig4LoginScreen

4This image suggests that Krypto is a user-friendly platformthatprioritizeseaseofuse,security,andawide range of features for cryptocurrency transactions. Prominent headline emphasizing the ability to send crypto across the world. Shows a selection of Ethereum, suggestingsupportforothercryptosaswell.

Fig5.Services Page

5This image shows three key services offered by a cryptocurrencyexchange.

Each service is accompanied by a description. The exchange assures users that their security is a priority, and they consistently maintain privacy and product quality.

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Volume:12Issue:04|Apr2025 www.irjet.net

Fig6.Transaction

6The image shows a list of four transactions, each with thetimestampoftransactionid

Each transaction gives separate interested unique featureinformation

Fig7.ContactUs

Thisimagelikelycomesfromacryptocurrency walletor exchange platform, displaying an individual's account information and offering options to interact with their fundsandassets.

8. System Architecture

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The system architecture of the cryptocurrency exchange platform is designed to ensure scalability, security, and high performance. At the core of the system, there are two main components: the frontend and backend. The frontend is responsible for user interactions, utilizing HTML, CSS, and JavaScript to provide an intuitive and responsive interface. This includes functions such as account management, transaction execution, real-time price tracking, and the integration of smart contracts through the Ethereum blockchain. The backend, powered by Solidity for smart contract execution and integration with Ethereum's decentralized ledger, manages all blockchain-related transactions, including wallet management, trade execution, and transaction verification.

To ensure security and enhance user trust, the system employs MetaMask integration for secure wallet management. The frontend interacts with MetaMask to manage transactions securely and to store user data off the blockchain. The backend is connected to the Ethereum blockchain via nodes, which ensures decentralizedandsecuretransactionprocessing.

Fig.8SystemArchitecture

8System archiyecture user interacts with system via the frontend, which consists of HTML, CSS, and JavaScript Userslog in,view market data,initiate transactions, and checkbalances.

REFERENCES

1. Sch¨ar, F. (2021). ”Decentralized Finance: On Blockchain- and Smart Contract-Based Financial Markets.” Federal Reserve Bank of St. Louis Review, 103(2),153-174.

2.Chen,Y.,Bellavitis,C.(2020).”DecentralizedFinance:A NewParadigminFinancialServices.”JournalofFinancial Transformation,52,57-69.

International Research Journal of Engineering and Technology (IRJET)

Volume:12Issue:04|Apr2025 www.irjet.net

3. Auer, R., Claessens, S. (2018). ”Regulating Blockchainbased Financial Services.” Bank for International SettlementsQuarterlyReview,10(4),42-55.

4. Gans, J. S. (2020). ”The Future of Financial Intermediation: The Rise of Decentralized Finance.” CommunicationsoftheACM,63(7),32-34.

5. Zohar, A., Raskin, M. (2020). ”Decentralized Finance: Innovations and Risks.” The Journal of Financial RegulationandCompliance,28(1),67-81.

6.Kwon,K.S. (2021).”DecentralizedFinance(DeFi)and its Impact on Traditional Finance.” The Journal of FinanceandBusinessResearch,1(1),25-38.

7. Moussa, A. (2021). ”Evaluating Decentralized Finance (DeFi) Protocols: Opportunities and Challenges.” Journal ofFinancialStability,53,100843.

8. Feng, H., Zhu, Y. (2021). ”The Economics of Decentralized Finance.” Journal of Economic Perspectives,35(4),213-234.

9. Brown, R. (2021). ”DeFi 101: What is Decentralized Finance?”CoinDesk.

10. Amar, M. (2021). ”A Comprehensive Guide to Decentralized Exchanges.” CryptoSlate. 9.1 References Contd.

11. Lichtenstein, S. (2021). ”The Mechanics of DecentralizedExchanges.”HarvardBusinessReview.

12.Chohan, U. W.(2021).”AnOverview of Decentralized Finance (DeFi).” Journal of Banking and Financial Technologies,5(2),1-10.

13. Masiukiewicz, P. (2021). ”The Rise of Decentralized Exchanges:Implicationsfor the CryptocurrencyMarket.” JournalofBusinessResearch,130,144-155.

14. Nikhil, V. (2021). ”How Decentralized Exchanges are RevolutionizingtheFinancialMarket”TechCrunch.

16. Zuo, Z. (2021). ”The Future of Decentralized Exchanges:OpportunitiesandRisks.”

17.Vernekar,A.G.,Phutane,M.,Godase,R.,Waghmode,V., & Shinde, S. M. (2020). Blockchain based E-Voting System. International Research Journal of Engineering andTechnology(IRJET),7(12),1786.

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