Blockchain Board of Derivatives goes live
14 August 2018 Cambridge
Image: Shutterstock
The world’s first hybrid cryptocurrency derivatives trading platform, Blockchain Board of Derivatives (BBOD), has been launched in partnership with GMEX Technologies.
Chris Urbanowicz, CTO and co-founder of BBOD, designed the custody solution called the smart contract wallet system, in order to keep traders in control of their funds.
BBOD’s hybrid trading platform combines the speed of centralisation with the security of decentralisation.
Through the utilisation of the smart contract wallet system, traders will be able to create their own wallet designed specifically for trading on BBOD.
The platform then connects the smart contract wallets to its high-speed centralised GMEX Technologies matching engine.
This then processes 1,250,000 orders per second with an average latency of 75 microseconds, which allows traders to stay in control of their funds, GMEX Group revealed.
Traders can carry out this process without experiencing the lags and delays associated with entirely decentralised platforms.
Previously, cryptocurrency traders had to choose between centralised and decentralised trading platforms, with no options in between.
According to GMEX Group, centralised exchanges process transactions quickly, but expose traders to security risks by requiring them to give up custody of their funds.
Meanwhile, decentralised platforms lag repeatedly and offer limited trading options despite offering enhanced security by keeping traders in control of their funds, GMEX Group revealed.
Commenting on the new platform, Urbanowicz said: “As we reflect on the past and move forward into the future, the team and I have made it our personal mission to continuously develop the platform. We’re constantly testing it, improving it, and looking for new ways to make it better each day.”
“This is our journey. Through bold innovation and relentless perseverance, BBOD will continue to flourish as a platform, a team and a community.”
Hirander Misra, CEO of GMEX Group and chairman GMEX Technologies, commented: “We are delighted that BBOD are now live with our latest GMEX Fusion technology suite encompassing an exchange trading platform, with full crypto asset support and blockchain integration, to trade Ethereum based derivatives with a combination of ultra-fast order matching, market surveillance, security of funds and full facilitation of margin trading."
He added: “We are looking forward to continuing our work with BBOD to enhance their unique cryptocurrency derivatives Exchange.”
Chris Urbanowicz, CTO and co-founder of BBOD, designed the custody solution called the smart contract wallet system, in order to keep traders in control of their funds.
BBOD’s hybrid trading platform combines the speed of centralisation with the security of decentralisation.
Through the utilisation of the smart contract wallet system, traders will be able to create their own wallet designed specifically for trading on BBOD.
The platform then connects the smart contract wallets to its high-speed centralised GMEX Technologies matching engine.
This then processes 1,250,000 orders per second with an average latency of 75 microseconds, which allows traders to stay in control of their funds, GMEX Group revealed.
Traders can carry out this process without experiencing the lags and delays associated with entirely decentralised platforms.
Previously, cryptocurrency traders had to choose between centralised and decentralised trading platforms, with no options in between.
According to GMEX Group, centralised exchanges process transactions quickly, but expose traders to security risks by requiring them to give up custody of their funds.
Meanwhile, decentralised platforms lag repeatedly and offer limited trading options despite offering enhanced security by keeping traders in control of their funds, GMEX Group revealed.
Commenting on the new platform, Urbanowicz said: “As we reflect on the past and move forward into the future, the team and I have made it our personal mission to continuously develop the platform. We’re constantly testing it, improving it, and looking for new ways to make it better each day.”
“This is our journey. Through bold innovation and relentless perseverance, BBOD will continue to flourish as a platform, a team and a community.”
Hirander Misra, CEO of GMEX Group and chairman GMEX Technologies, commented: “We are delighted that BBOD are now live with our latest GMEX Fusion technology suite encompassing an exchange trading platform, with full crypto asset support and blockchain integration, to trade Ethereum based derivatives with a combination of ultra-fast order matching, market surveillance, security of funds and full facilitation of margin trading."
He added: “We are looking forward to continuing our work with BBOD to enhance their unique cryptocurrency derivatives Exchange.”
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