Update readme

[lewisjkl]

The Readme is pretty out of date in several spots. We should update this so that it is easier to follow and fully up to date.

In my opinion, the readme should have:

1. What the service does at a high level
2. How to run the application
   A. What dependencies are needed? On what host/port?
3. How to run all tests

This would be a good start. From here we can look into adding things like diagrams to explain the application/how it works.