All investment firms in Europa must track the market quality of different exchanges and choose the best for their clients. Previous research has shown that a limit order book with additional market makers performs best in terms of market quality, followed by a pure limit order book and market maker. With the rise of cryptocurrencies, a new exchange called the automated market maker has appeared in the crypto markets. It is unclear how it compares to the limit order book regarding market quality. This thesis compares the automated market maker with the limit order book. We have built a simulation and tested seven different scenarios, varying in liquidity, information, price variability and fee. Six out of seven scenarios indicated that the automated market maker outperforms the limit order book.

For this project, JEM-id tasked us with creating a proof of concept of a new online auction in the form of a web application for Royal FloraHolland. JEM-id is a software company operating in the agricultural domain.
The pre-existing digital auction is not available as a web application and has generated technical debt over the past twenty years of it is existence.

The main challenge of the project was to make sure the application is capable of sufficiently handling the current load of the auction while maintaining similar performance. This translates to a stable connection with a ping of fewer than 30 milliseconds for clients within the Netherlands.
On top of that, the system had to be scalable to support higher numbers of buyers in the future.
We used a microservice architecture able to balance the load over several servers to resolve this.
We spread the load of communicating with clients to services separate from the main application service.
This allowed the main application service to solely and adequately keep track of the state of the clock and determine the winner of a session.

To validate that we indeed achieved the main goals of the project, we created a simulation that would simulate any number of clients connecting to the clock auction and placing bids.
In this process, we generated buyer and auctioneer behaviour by analysing transaction data. We extracted several distributions from the data and sampled from it to make it more realistic.
In the end, we ran this simulation ten times for chunks of an auction with 610 connected clients.
A few peaks showed up where pings from client to server were significantly higher than usual. However, in the long run, the system showed low standard deviations in ping, meaning the general consistency was high.
Overall, the results we gathered showed that our application was able to deal with 610 connected clients.

In the end, we consider our project to be a success.
First of all, we showed that a clock application in the browser can be implemented with seven weeks of development time.
Secondly, we showed that such an application could handle a realistic amount of traffic without much trouble, given sufficient computing resources.
These two accomplishments show that replacing the current clock application with a web-based application is feasible.