Proposed agenda
This project is focused on building a platform that supports P2P transactions, and wallet management.
Here’s a list of essential credentials needed for a user to sign up:
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Full Name
- Purpose: For personal identification and to personalize the user experience.
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Email Address
- Purpose: Used for account verification, password recovery, and communication.
- Validation: Ensure correct format and use email verification (e.g., sending a verification link).
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Username (optional)
- Purpose: Alternative to using addresses if the platform supports user-to-user transfers via usernames.
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Password
- Purpose: For secure access to the user’s account.
- Security: Enforce strong password policies and securely store using hashing algorithms like
bcrypt.
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Phone Number (optional but recommended)
- Purpose: For two-factor authentication (2FA), account recovery, and additional verification.
- Validation: Use SMS verification to confirm the phone number.
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KYC Details (optional for compliance)
- Purpose: For identity verification, if required by financial regulations.
- Security: Securely store and manage compliance with data protection laws.
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Country and Date of Birth (optional)
- Purpose: For regulatory purposes like age restrictions or compliance.
- Validation: Ensure compliance with age-related restrictions.
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Profile Picture (optional)
- Purpose: Enhance user profile, but not essential for signup.
- Email Verification: Send verification emails with confirmation links to ensure authenticity.
- CAPTCHA: Prevent bot signups using CAPTCHA.
- Two-Factor Authentication (2FA): Strongly encourage users to enable 2FA (via SMS, email, or an authentication app).
- Rate Limiting: Implement limits to prevent brute-force attacks during signup attempts.
- User Authentication and Authorization: Use JWT for APIs, OAuth for third-party integrations, and role-based access control (RBAC) to manage permissions.
- Two-Factor Authentication (2FA): Implement 2FA for secure login and transaction protection.
- Account Management: Enable users to reset passwords and update profile information.
- Transaction Management: Create endpoints for initiating, processing, and tracking P2P transactions.
- Escrow Services: Implement escrow features for secure P2P transactions.
- Dispute Resolution: Include mechanisms for users to resolve disputes.
- Multi-Currency Support: Allow users to manage multiple currencies (e.g., USD, KES).
- Transaction History: Track wallet transactions, including deposits, withdrawals, and transfers.
- Balance Management: Show current balances and manage wallet limits.
- Payment Gateways: Integrate with fiat payment gateways like Stripe, PayPal and Mpesa Daraja.
- External APIs: Integrate APIs for exchange rates, identity verification, or transaction monitoring.
PostgreSQL has been selected for its robust feature set, performance, and extensibility, particularly suited to handling financial data and transactions.
- ACID Compliance: Ensures transaction reliability and consistency.
- Rich Data Types: Supports JSON for storing transaction details.
- Extensibility: Allows custom data types and functions for managing specific project requirements.
- Performance: Features like indexing and Multiversion Concurrency Control (MVCC) help manage transactions efficiently.
- Scalability: Supports horizontal scaling, replication, and clustering.
- Security: Offers role-based access control and encryption for data protection.
- Digital Wallet System: Manage user information, wallet balances, and transaction histories.
- P2P Payment Platform: Handle eft(s), disputes, and escrow services securely.
- Ethereum Integration: Store user Ethereum addresses and transaction details.
To install PostgreSQL:
pip install psycopg2- Testing: Implement unit, integration, and end-to-end tests. Use Ethereum testnets for smart contract testing.
- Deployment: Deploy on cloud platforms with scalability in mind, ensuring secure and efficient operations.