Cryptocurrency exchanges are the gateway to the cryptocurrency space, and one of the leading contributors to the adoption of Bitcoin [BTC] and other cryptocurrencies. However, even though they play a vital role in the space, there is only a handful that has managed to gain the trust of traders and investors.
The two main reasons for this is believed to be a lack of security, which has resulted in numerous exchanges being hacked, and trading options.
Even today, Mt. Gox, the most notable exchange platform, continues to haunt the cryptocurrency space. This is because the exchange platform lost over 7% of Bitcoins that were under circulation due to a hack. It was known as the biggest Bitcoin exchange as it managed over 70% of all cryptocurrency transactions in the world in 2014. Its next bankruptcy hearing is scheduled for Q1 of next year.
The second most important factor is the trading products offered to customers as traders are known to play a vital role in the cryptocurrency market in terms of price and adoption. Hence, it is an absolute necessity for an exchange to ensure that their platform tends to the needs of traders.
In the current scenario, margin trading has become the priority for traders. It allows users to invest and trade with borrowed currency. Additionally, the more leverage provided by an exchange, the more customers it attracts. With margin trading, traders can opt for a long position or a short position, depending on market trends. This allows users to enhance their profits if their forecast on the market is correct or magnifies their loss, if incorrect.
This space is currently ruled by BitMEX, Bitcoin Mercantile Exchange, one of the leading trading platforms around the globe. The exchange provides 100x leverage to its users, which means that a user can purchase 100 Bitcoins and back it up by only 1 Bitcoin.
However, the exchange is seen scrutinized time and again. This is because of an issue that occurs when trading traffic become too high for the exchange to handle; system overload. System overload occurs when there are too many trades for the matching engine to handle. It can make users unable to close active trades, make new trades, and even login. The problems have resulted in a majority of the traders looking for other exchange platforms that meet the best qualities of BitMEX, but with fewer hurdles.
International Digital Assets Exchange, Interdax, is stepping into the space to provide users with all the best trading services, ranging from futures to derivatives. The exchange aims to fill the current gap in the trading ecosystem, along with placing the platform’s security as their top priority.
The exchange also has several similarities with BitMEX; one of them is the trading technology deployed by the platform, KDB+/q. This technology is hailed to be the best even in the traditional financial market, with only the top-notch players seen utilizing it.
In terms of technological advancement, the exchange did not stop here. The platform’s matching engine has the capacity to handle around 300,000 transactions per second, making it one of the fastest exchanges in both financial and traditional markets.
Additionally, the exchange was coded from scratch in highly optimized C++ and has been worked on by a team of professionals for the past 18 months. The team that is involved in the development of the exchange includes top-notch players from Nasdaq, NYSE Technologies, Goldman Sachs, JP Morgan Chase, IMC, Citadel, Optiver, Lloyds, and other major institutions.
To add to the traders’ delight, Interdax is introducing trading battles, wherein traders can battle each other to see who the better player is in this game of charts. This is one of the key features that differentiates the exchange platform from the rest. The team has decided to launch the Testnet and Mainnet with a battle, which will each last for over a month. The Testnet launch is scheduled for January 2019 and the Mainnet will hit the space anytime between February and March.
For the Testnet battle, the team has allotted $100,000 towards the prize pool and traders who wish to participate are required to pre-sign-up on the platform. Participants will start the battle with 10 demo Bitcoins.
The Mainnet battle, however, is going to be much more intense as the prize pool is $1 million, making this the largest cryptocurrency event to take place in the space. Users will not be required pay fees to partake in the tournament, but a trading stack is required.
After the launch of the exchange, users will be able to host their own battle, which will be publicized by Interdax on its official website. Additionally, the user who hosts the game will have control over the game, in terms of laying down conditions related to the number of participants, the name of the battle, the duration of the battle, trading stack, and the wager amount. At the end of the game, the participant with the highest amount will be declared the winner. The host of the battle will receive a 1% commission after the battle begins, and 1% commission from the total sum of the wager amount.
Notably, Interdax has introduced their very own token, IDAX, which has two main use cases. First, the token can be used to pay transactions fees. If a user does not own the token while initiating a trade, then the system will buy the corresponding fees in IDAX. Second, it is the only token that can be used to wager within a trading battle. This ensures that the token has enough liquidity against Bitcoin in the market right from the start.
The exchange is also introducing a referral program in order to promote the adoption of the exchange. The competition prize amounts to a total of $100,000, wherein users will have to use their email to sign up and later on, share their unique URL. At the end of the competition, the top 10,000 participants will be rewarded in the following order:
1st will receive 10 BTC and 1,000,000 IDAX
2-10 will receive 1 BTC and 100,000 IDAX tokens each
11-100 will receive 0.1 BTC and 10,000 IDAX tokens each
101-7,000 will receive 1,000 IDAX tokens each
7,001-10,000 will receive 100 IDAX tokens each
76315|Baer Chain CEO Vincent:The core of Baer Chain is ecology and technology
Vincent graduated from UCLA [the University of California, Los Angeles] with a Master’s degree in Business Finance. He has worked for the global e-commerce giant Amazon headquarter in the United States and joined Morgan Stanley in 2015. He got involved with BTC, ETH earlier, and has unique insights into Cryptocurrency and blockchain technology. In 2017, he founded Baer Technology in Hong Kong, the founder and CEO of Baer Chain, dedicated to the application of blockchain technology.
The positioning of the Baer Chain is “the world’s first technology-driven blockchain game industry ecosystem platform.”
Why Baer Chain chose the game field, because the blockchain application is suitable for game application scenario except for the financial industry. The Baer Chain founding team members have been deeply involved in the game field for many years and deeply know the unsolved problems of small and medium-sized game development companies. Therefore, Baer Chain hopes to create a decentralized shared platform to reshape the game ecosystem to solve the game industry’s core demand points.
The essence of the blockchain is “co-construction and sharing.” So Baer Chain’s original collaboration mechanism is designed to create a highly active community where all values are interoperable. The developer goes straight to the player and breaks the monopolization. In addition, based on the high flowability of the BRC, the entire platform forms a flow value loop. Not only that, eliminating of centralized control, players will have more right to say. At present, Baer Chain’s community users have exceeded 630,000.
Vincent mentioned that the current blockchain game can be said not a game in fact. So to achieve a true blockchain game, it is necessary to focus on the track in the vertical field of the game through technology. Baer Chain optimizes the game application through its own technical architecture advantages, and its operation efficiency and stability are higher than the existing main network, which will be able to meet the high concurrency requirements of large games for computing power and resources; Baer Chain main network is about launched for a public test in April. After the official launching, there will be more real blockchain games on the Baer Chain.
Vincent has always believed that the future of blockchain has come, but only the development of technology is the core element to achieve the application of blockchain. Vincent is willing to witness the development of this industry with entrepreneurs who insist on the development of the underlying technology in the blockchain.
76230|CoinAll Launches a 10000 USDT New-User Campaign to Expand Community
CoinAll has today announced the launch of a new user campaign which will last a month and features a 10,000 USDT bonus pool. Users who complete the two-task mission will have a chance to share in the bonus. The campaign comprises two tasks. In task one, new users have to register on CoinAll and pass KYC1 verification.
In the second task, new users need to deposit CoinAll-listed cryptocurrencies into their accounts. Upon completion of the two tasks, they will get the bonus. The campaign is open to all digital asset traders from around the world.
Katherine Deng, General Manager of CoinAll stated,
“Community is the foundation of CoinAll. We hope to make it larger and stronger. Together with our users, we endeavor to make the industry better in the near future.”
CoinAll is a community-driven exchange, which means the users of the CoinAll community have the power to influence the development of the exchange. CoinAll also launches various promotions for the community as well.
For example, the blockchain quiz show “Who Wants to Be a COINALL-inaire” hosted in March, featured the industry’s first “decentralized question bank” and attracted hundreds of thousands of participants. By answering 10 questions correctly, users could take home hundreds of USDT in prizes. While enjoying the fun and bonuses, users also broadened their knowledge about blockchain technology.
By offering a variety of campaigns, CoinAll has rapidly established a community of tens of thousands of members.
Besides community development, CoinAll also spares no effort in offering high-quality blockchain projects to traders.
For example, COSM, which will be supported by Samsung’s latest flagship smartphone and is the first dApp partner of Samsung, was one of the very first offerings by the exchange. CoinAll has also listed other well-received projects such as BTT, ZIL, ONT, and Grin.
As an fast-emerging exchange, CoinAll was recognized as the first strategic partner of OKEx, the top-class exchange in the world. CoinAll is showing great ambition, pledging to become top-20 exchange in the world within 1 year with the help of OKEx.
“We feel grateful to our users,” said Katherine Deng. “And we want to give back to our community and make it larger and stronger. This time, our new campaign also reflects our great determination that CoinAll will continuously offer projects of high quality and good trading experience to global users.”
For more information about the promotion, please visit the link.
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