A lot of tech giants make use of Nodejs one way or the other. I mean a lot of tech giants had to migrate from technologies such as ruby on rails, PHP, ASP.NET C#, etc. to Node.js.
With a reduction in the number of servers, reduced page load time, and ease of maintenance, these are but few reasons why a lot of tech startups and tech giants are rapidly adopting Node.js
The concerns for Fintech apps?
They wanted a number system that could be compact, easy to store and equally represent 2^23=9007199254740992 digits. Here is the thing, nothing is free in life, the decision to use only one number type was one area where they could not have their cake and eat it too. Sad to say numbers irrespective of the type, are all represented as floats, and floats are inherently inaccurate.
What exactly is the problem with floats?
When floats are stored, the actual number itself is not stored, really? Yes! Instead, instructions are stored for setting up a math problem that will allow the computer to solve it in order to determine the rough coordinates of where the original number existed. This allows you to free up a ton of space, but what it means is that your calculations may be off by a small amount.
Is there a solution to this problem?
BUT WAIT A LITTLE, BEFORE YOU START DELETING YOUR CODE!!! THERE A LITTLE TWIST TO THIS.
I feel like your best bet is to look elsewhere. Mathjs seems to be giving this problem their best shot, just as how boys will be boys, floats will always be floats and there will never be enough space in this little amount of data to represent accurately, all the numbers it wants to.
I Think There’s Good News
You may ask, what exactly is the good news? Alright, here is the good news; Nodejs is built on Chrome’s V8 Engine written mostly in C++ that can be directly extended in Node.js.
A lot of business-critical applications for the Banking and Financial sector needs to be heavily fault tolerant, secure and easily maintainable. Now the problem with any dynamically or loosely typed language is that it is very hard and in some cases almost impossible to spot issues and bugs before runtime, that is not all, the possible combinations of control flow also cannot be predicted without deploying the application, which is a very clear no-no, because a crafty developer can hide a backdoor deep within the control-flow of the program which can be easily detected in a static typed language.
This is not a problem if it doesn’t have a solution, right? Of course, there is a solution to this. You just have to make use an API gateway that just redirects requests to different services written in other languages like C++ to do the heavy lifting.
The verdict – Nodejs can be used for FinTech Apps!
Amongst other things that Node.js is good at, it very good at one thing – saturating an I/O pipe. Since it is single-threaded, it makes it really good at just using up one core on a multi-core CPU. However, there are various meta-solutions that will start up as many Node.js instances to match your core count, so that way you can use all of your available CPU cores.
If your web application is streaming lots of data to lots of users, the ability of Node.js to maximize I/O is a good thing. It makes perfect sense that Netflix could benefit from web servers running Node.js.
You could conceivably get away with fewer web servers that way and focus on scale-out issues in your services and persistence layers.
Yes Node.js can be used in build FinTech apps. Node.js is really good at saturating an I/O pipe, and that is a useful thing, I can assure you.