Vitaly Slobodin, the CTO of P2P lending platform SOFIN tells us about the security of tokens and major technical challenges of the project: flash quote

November 20, 2017

What is the unique feature of SOFIN from the technical point of view?

First of all, the unique feature is our legal model. Every country has its own legislation, that is why the system has to be productive and seamless. The second thing is our tokenization model. We have to integrate the token in the system.

Which of the two tasks is more complicated?

The most complicated task is to manage the congestion of the system; the system will have much miscellaneous data.

What is the main challenge in SOFIN for you?

I would like to ensure maximum failure safety of SOFIN platform, so that it would be easy to use.

What are your requirements towards the performance of the platform?

SOFIN is a financial system, and it must work seamlessly. I partnered with an American startup company which broadcasted stock market quotes. The system had to boot within two seconds at any moment of time. If it would be late for at least half a second, that would be a failure. We set the same high quality standards in SOFIN.

What security standards do you follow?

There are no generally recognized standards for cryptocurrency yet. Still there is an ERC20 standard for smart contracts development. It is slightly similar to PCI DSS standard which is being used with Visa and MasterCard payment systems. Our SOFIN token is based on ERC20 standard.

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