Expanceswap.comt cryptocurrency exchange opened deposits in bitcoins as the first step to a hybrid-decentralized model, which the exchange is working on together with ark tech company.
Deposits transferred by traders will be stored on the expanceswap.com exchange itself, and on one of the three wallets of other crypto-exchange partners: Bitstamp, Bitfinex and Kucoin. The expanceswap.com crypto exchange integrated three exchanges not only to store traders ‘ funds, but also to implement matching of trading requests, in order to provide the best prices.
“If a user buys, for example, 10 bitcoins, we cut this request into smaller requests and distribute them to third-party exchanges that we are connected to… We have created a smart request routing system, a generally smart algorithm that seeks to find the best prices on the market for bitcoin and other cryptocurrencies that we offer on the platform, ” said co-founder Kai Bennick.
Bennick also explained that the beta version of its own matching mechanism will be available in February, mentioning that this is just a step on the way to a hybrid decentralized architecture, the full transition to which is not planned until the end of the year.
It is planned that with the help of the SmartBridge atomic swap system from ARK, users will be able to trade, leaving control over private keys.
In addition to its own matching algorithm, the exchange is also working on implementing a social network layer, which will start launching in some countries in the first quarter of this year:
“We strive to connect trading with proven concepts in social networks… If you are a professional trader, you will be able to create an account, like on Facebook or Instagram, share your knowledge, portfolio and strategy with others on the platform”
This initiative is designed to attract newcomers to the stock market and to further increase the involvement of traders, although the level of active users to registered exceeds 4-5 times the rate of American crypto currency exchange Coinbase.
Recall that Ukraine wants to launch the world’s first decentralized trading platform for the conclusion of transactions for the purchase and sale of agricultural products by mid-2019.