Blockport The First Social Crypto Exchange
As remarkable as the growth of crypto currencies has been in the past couple of years, it is still a niche market populated by highly specialized players. Blockport has identified 5 reasons that are keeping crypto trading from gaining mainstream acceptance; liquidity, security, transparency, usability and education. They aim to build a trading platform that solves these problems and makes trading in crypto currencies more readily available to everyone. With enough users in the ecosystem, this should lead to more liquidity and better price discovery in the marketplace.
To facilitate the growth of the trading platform, they have also launched an Ethereum utility token that is ERC-20 compliant (BPT). This will be used to pay for features within the Blockport ecosystem, such as transaction fees or the social features that will be a part of the platform. By creating an internal micro-economy, the value of the system will grow as more users adopt the platform.
Coin Name : Blockport (BPT)
Total Supply : 69,434,800 BPT
Circulating Supply : 49,596,285 BPT
Market Cap : $26,799,750 USD
Ico Price : 1 BPT = $0.540358 USD
Tokens/Money Raised Through ICO : €13,000,000
Making the exchange more accessible
A host of problems has plagued crypto currencies in the early years. Well publicized hacker attacks, and regulatory hurdles, have stymied the adoption of crypto trading amongst a broader class of investors. Blockport aims to overcome the existing problems, thus increasing the liquidity of the entire market.
One of the main liquidity problems with the current market, other than the limited supply of investors, is that each exchange has built it’s own isolated micro market. The price of Bitcoin for example can differ by hundreds of dollars between exchanges. Blockport’s exchange has been split into two trading arms to help rectify this problem. The first one will attempt to match any orders inhouse on the Blockport exchange. The other trading arm continuously gets updates on both prices and transaction fees from a number of other exchanges, and can automatically generate trades on them when necessary.
Another problem of the fractured nature of crypto exchanges is the security risk it brings. In order to facilitate the trades taking place on their platform, and guarantee settlement, most exchanges carry their users funds. This makes them susceptible to hacking as we have seen multiple times in the news. Blockport’s solution to this problem is to implement a hybrid system. The exchange will be decentralized, with investors funds stored in designated blockchain wallets. These wallets will be managed by Blockport’s Wallet Operator, which can freeze funds in the underlying wallets to ensure settlement. The protocols governing the Wallet Operator allows Blockport to avoid the liquidity problems that usually come with decentralized exchanges.
To further increase the liquidity of their exchange, a part of the platform is an external trading engine. It will compare available prices on the Blockport exchange to transparent prices from a range of other exchanges. It will continuously scan their order books in real time and, with transaction costs taken in to account, match them against their own order book when possible.
As most user interfaces for crypto exchanges have been design with dedicated crypto investors in mind, the information and functionality can be non-intuitive and confusing. Blockport’s entire system, from the trading platform to the socially interactive features, have been built with utility in mind. To expand beyond the early converts, Blockport are trying to make crypto trading more accessible to casual investors.
There are also several features to help educate investors in the crypto currency market. The ecosystem will include both a knowledge base with frequently asked questions, as well as an interactive forum. There will also be a help line available both through chat and email. Perhaps the most innovative feature however, is the ability to follow other investors and automatically copy the trades they do in their portfolios. This is one of the social features, and is paid for with BPT.
As Blockport is still developing some of the technology needed for their decentralized exchange infrastructure, they will roll the platform out gradually. The first version, coming out in Q1 2018 will hold custody of investor’s funds in order to be able to facilitate trades. It will be integrated with one other exchange to bring outside liquidity on to the platform, where you can trade the major crypto currencies such as Bitcoin and Ethereum.
Version 2, due out in Q3 2018, will add more exchanges to the network, as well as most popular crypto currencies and ERC 20 tokens. It will also add the social feature where you can pay in BPT to follow, and copy, other investors’ portfolio trades.
The third version will be ready during Q1 2019. By then the Blockport exchange will be fully developed, and the storing of investors’ funds decentralized. At this point the hurdles identified by Blockport, that are keeping regular investors from allocating some of their available funds towards crypto currencies, should all have been overcome.
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Name :Sebastiaan Lichter
Title :Founder / Chief Product
Name :Kai Bennink
Title :Founder / Chief Strategy
Name :Zowie Langdon
Title :Chief Technology
Name :Spiros Mantadakis
Title :Chief Design
Name :Thale Sonnemans
Title :Creative Producer
Name :Pascal van Steen
Title Head of Growth:
Name :Iris Vermeulen
Title :Bounty Campaign Manager
Name :Gino Taselaar
Title :Growth Marketer
Name :Jan Bolhuis
Title :Contract Auditor
Name :Wesley van Heije
Title :Contract Auditor
Name :Iwein Fuld
Title :Senior Software Engineer
Name :Tiziano Perrucci
Title :Senior Software Engineer / Devops
Name :Gerbrand van Dieijen
Title :Senior Engineer / Blockchain
Company Address : TQ Singel 542 1017AZ Amsterdam