Mithex

Overview

Mithex is a comprehensive B2B white-label cryptocurrency exchange solution that enables businesses to launch their own branded crypto trading platform. The platform features a high-performance trading engine with sub-10ms execution times and supports over 20 blockchain networks.

The Challenge

Building a white-label exchange presented unique challenges:

• Performance requirements: Exchanges need sub-millisecond latency for order matching
• Security concerns: Handling millions in crypto assets requires robust custody solutions
• Multi-tenancy: Each client needs isolated environments with customizable features
• Regulatory compliance: Different regions have different compliance requirements

Technical Architecture

Trading Engine

The core trading engine was built for maximum performance:

┌─────────────────────────────────────────┐
│           Order Gateway                  │
├─────────────────────────────────────────┤
│    Order Validation & Risk Check         │
├─────────────────────────────────────────┤
│         Matching Engine                  │
│    ┌─────────────────────────────┐      │
│    │  Price-Time Priority Queue  │      │
│    └─────────────────────────────┘      │
├─────────────────────────────────────────┤
│    Trade Execution & Settlement          │
└─────────────────────────────────────────┘

Key Features

1. Order Matching: FIFO price-time priority algorithm with O(1) complexity for common operations

2. WebSocket Feeds: Real-time market data streaming to thousands of concurrent users

3. Wallet Management: Hierarchical deterministic (HD) wallets with automated hot/cold rotation

4. Multi-blockchain Support: Unified API for 20+ blockchains including Bitcoin, Ethereum, and EVM chains

Custody Solution

Security was paramount in the design:

• Cold Storage: 95% of assets in air-gapped cold wallets
• Hot Wallet: Automated replenishment based on withdrawal patterns
• Multi-signature: 3-of-5 multi-sig for all cold wallet transactions
• HSM Integration: Hardware Security Modules for key management

Performance Metrics

The exchange achieved impressive performance:

• Order execution: Under 10ms average latency
• Throughput: 100,000+ orders per second
• Uptime: 99.99% availability
• Market data: Under 1ms latency for WebSocket feeds

Technologies Used

• Trading Engine: Go, C++
• Backend Services: NestJS, Node.js
• Database: PostgreSQL, TimescaleDB, Redis
• Real-time: WebSocket, gRPC
• Infrastructure: Kubernetes, AWS
• Security: HSM, Multi-sig, Hardware wallets