XTRD ─ Mature Financial Technologies to Cryptocurrency
Since the moment when cryptocurrencies began to gain popularity, have began to appear a big diversity of exchanges, each of them with its unique features. At the moment, there are more than 120 exchanges on the market. But the biggest problems of each on is inefficiency, high fees, complex web and thin liquidity, which are manifested in profile setups, price, safe, and terms of execution. X-Trade is going to solve these difficulties by improving the actual solution that is presented on the market.
What is X-Trade?
X-Trade is going to build up a trading ecosystem in the crypto industry and aims to get the first full-shop in the market for big traders and amounts.
The development of X-Trade ecosystem is based first on NY4/LD4 servers, which are the most followed servers for exchanges. Also, the development will be divided into three parts and its first stage will be the Multi-Exchange FIX API Implementation.
What is FIX?
The Financial Information eXchange is a unique code that is used for any exchange that is used to match all operations that are performed on exchanges. For each one, this code is different, there is no universal code for all. X-Trade is going to develop such a unique code.
Thus, every person will be able to access any exchange he/she wants to through a special FIX application with a user-friendly interface.
The second part of developing is represented by XTRD PRO Trading Platform.
Unfortunately, single mode to trade on the crypto echanges is through the website of each exchange. This method is very inconvenient because there are too many operations the user needs to do for submitting an order or close one. In addition, if the user trades on other exchanges too, this operations needs to be done multiple times.
X-Trade is going to develop a unique platform, on which users will be able to access any crypto-exchange, to place or to close orders, and to make any other operations that are available on any separate exchange.
The third part of X-Trade solution is the “Single Point of Access” feature. It is a combined fluidity for traders between exchanges. It will allow users to select the best price offers on the market and at the same time the lowest fees. Due to the co-operation with actual exchanges, XTRD will be able to clear up amounts from its stock profiles on other exchanges to close orders made by traders.
X-Trade aims to become a technology ecosystem based in the US for big traders on crypto-exchanges. It will generate receipts by fees, sales data, services of VPS and from other income modules. The team’s goal is to provide a secure trading ecosystem, and for reaching this, will be needed to detach from the public internet. The access for trading servers will be possible only inside the private network.
Conclusion:
X-Trade aims to attract big traders by providing us with a unique solution for all current problems of cryptocurrency market. Its prototype has been created by professionals in finance and trading industry people for improving current trading uses. Personally, I like the main principles of the platform’s work and the idea of it. In my opinion, XTRD will find a good place in the nowadays market. That is all I wanted to say about this project, thank you all for being here and see you soon in the next articles!
References:
Website: https://xtrd.io/
Whitepaper: https://xtrd.io/xtrd_whitepaper.pdf
Twitter: https://twitter.com/xtradeio
Facebook: https://www.facebook.com/xtradeio
Author: dn3
Profile Link: https://bitcointalk.org/index.php?action=profile;u=2237720