Lukas K

@lukaskai

Cryptocurrency exchange. Innovations are on the way!

Once Bitcoin was created, it started the completely new ecosystem of market players. Exchanges began popping up taking your fiat currency and sending bitcoin to traders wallet. This enabled people to enter the cryptocurrency space and start using Bitcoin infrastructure, make payments and transfer value peer-to-peer.

During the last few years, trade volumes have dramatically increased due to new tokens available on the market. For instance, last 24h trade volume of cryptocurrency was $9,214,118,751!

Therefore, the technology is driving innovation in this niche as well. Various new projects have been created or are being developed to revolutionise and optimize the exchange process. From my personal interest, I made a quick research and concluded 3 interesting and promising exchanges.

Decentralised exchange

Decentralisation is the key driving factor in the crypto-economy. That’s why the idea of cryptocurrency exchange without a middleman taking a cut was created.

Etherdelta lets you trade Ether and Ethereum-based tokens (ERC-20) directly with other users. This means, that you do not need any broker to facilitate the transaction. Ethereum Smart Contract helps you to do that. Smart Contract matches people who want to buy and sell tokens. The exchanges are not controlled by anyone and the code that enables that, can be freely found here in Etherscan.

At the time of writing EtherDelta Smart Contract which is deployed to Ethereum Mainnet stored tokens worth of $6,658,038,560 and had $14,417,712 worth of Ether cryptocurrency in it.

The numbers speak for themselves. Decentralised exchanges will take a really big part in future crypto society.

Decentralized Liquidity Network

Bancor.Protocol — is creating a Decentralized Liquidity Network. That means, that Ethereum Smart Contract can become the market maker for the ERC-20 token. It allows people to hold any Ethereum token and convert it to any other token in the network, with no counter party at an automatically calculated price.

Looking from a very high-level perspective, Smart Contract developed by Bancor enable Project team to transfer their ICO Tokens and BNT Tokens to the contract. That contract enables buying and selling of Token at the exact same price, thanks to a non-profit automated market maker. As well as it enabled conversion of any token at any time, regardless of buyers and sellers or trade volume.

Project team raised $150 Million during their ICO. The amount is incredible, so let’s hope to see more great things developed in the near future!

Exchanges for B2B sector

Currently, most of the exchanges are not properly regulated, which is not suitable for real businesses. Lack of uncertainty make them stay out of crypto currency trading and investments.

Source: http://www.dqindia.com/

That’s when B2BX comes into play. The team is planning to develop the first official B2B cryptocurrency marketplace, in which they would connect Forex/DMA and Stockbrokers, and give them the opportunity to provide their clients with the trading in cryptocurrencies.

B2BX will focus exclusively on institutional clients: stock and crypto-exchanges, Forex and DMA brokers, cryptocurrency brokers and exchangers, hedge funds and other professional market participants. All participants will be controlled by the exchange and financial regulators.

The product is already work in progress and used by several clients, so let’s hope that they will deliver their promise and drive cryptocurrency adoption even more by introducing more institutional players to the market as their ICO has already raised close to $7 Million dollars!

Most secure crypto currency hardware wallet is Ledger Nano. It provides hardware security for every user only for €59. Find out more here.

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