Update project README

[xvk-64]

Currently the README only contains section headers. It should be updated to better explain the project.

[xvk-64]

@vbe0201 As per #10, we should have a look at filling out more sections of the README. Perhaps it would be worth scanning through the table of contents and making sure that everything is in order? It would be good to make sure we outline all the relevant sections before writing them out.