A hybrid derivatives exchange system, bridging central and distributed networks have been introduced by the Blockchain Board of Derivatives (BBOD ) trading platform.
The trading platform said that a deal with GMEX technology and a safe custody offer would bring "the speed of centralization with the safety of decentralization." Each trader will create its own wallet specifically designed for BBOD trading, according to BBOD.
BBOD will connect the clever contract wallets to a high-speed centrally-connected high-processing engine with an average 75 micro-second latency, with 1.250,000 orders per second. BBOD provides a free, open Bitcoin marketplace, a wide-ranging set of potential deals between AlTcoin and TUSD-stablecoin collateral, to retail and institutional customers.
The trading platform has already been developed live for new clients, compared to many exchanges and cryptographic ventures that offer a coin bid. In October 2019, we launched the BBOD and have mentioned 17 permanent forward-looking contracts. Our goal is to reach the Bitmex and Huobi levels as quickly as possible.
The background and the difficultiesa
Exchange modifications for crypt vulnerabilities. Crypto exchanges have faced the wrath of attackers for the past decade. During the time 2011-2019, more than $1.6 million was looted from crypto exchanges. You may have found that the market is at great risk of hacks. Crypto exchanges sought to use different techniques to counter this, for instance, the processing of funds in cold baggage. Nevertheless, when web-based markets run, certain funds must also be stored in warm wallets.
The alarming trend on the cryptocurrency market is that the industry witnessed in the first seven months of 2019 as many hacking attacks as in 2018, with cybersecurity vulnerabilities faced mostly by the existing cryptography exchanges, in 2019. In the first seven months of 2019.
Failure to be available
One of the main cryptocurrency exchange challenges which QuadrigaCX, the first cryptocurrency exchange in Canada, is thought to be, clearly demonstrates was accountability. Transparency involves primarily solvency evidence, which is essential as investors must be aware that an exchange can meet all retirement requests in an extreme case. It implies that an exchange will display equivalent liability for its capital.
Ernst & Young announced in January 2019 that Quadriga had no bank account and no structured accounting system. The firm is found insolvent and bankrupt in February 2019, keeping a liability of C$ 215.7 million, and a capital of about C$ 28 million. Quadriga was clearly insolvent a long time, and before restructuring, no one knew it.
High-frequency traders have volatile trading
The high transaction costs to high-frequency investors are one drawback to trading Bitcoin and other cryptocurrencies.
The problem with charging fees is that the most active traders are penalized and that the exchange covers these users in more money than the regular medium or long term investor.
Lack of a demand for smaller exploitation coins
There are not many ways to try if you are looking for a trustworthy position where you can spend time or money in a wide range of high leveraging altcoins. In the competitive sector, however, restricts the leverage to 3.3x, Bitfinex has a wide range of alts. Bitmex has nine big digital assets with a relatively high level (20-33x) underlying contracts.
Currently, FTX, with permanent contracts for 25 underlying assets, is the most diverse market in crypto derivatives.
How is BBOD solving these issues?
Please be advised that market holders have total control and responsibility to retain secure coins if you keep the coins on any exchange for derivatives (Bitmex, FTX, By bit). Non-custodial account owners keep the coins with private keys. BBOD ownership is entirely separate from the trade of cryptocurrencies. Our system also does not have a personal balance key for the client, but that customer holds his funds on a shared smart contract account. There are no personal passwords, and attackers can't steal the codes.
All client balances on the Ethereum blockchain are updated daily and available. This ensures that the off-chain balance of a client every day equals the on-chain balance (a contract Etherum account).
BBOD is the first trading venue of Zero-Fee Crypto Futures. In the derivatives sector for BBD-settled (e.g., BTC/BBD or ETH/BBD), no trading charges would be charged (zero). BBD token will be used as security for traders. Balances and PnL in BBD are denominated. The cost of, for example. During the day, BBD / TUSD will be set as the previous closing price. The BTC / BBD index will be similar to the BTC / TUSD index during the trading period.
Company Details are given below
Website: https://bbod.io/
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2286349
Telegram: https://t.me/BBODCommunity
Whitepaper URL: https://bbod.io/static/BBOD%20(BBD%20token)%20Whitepaper%20-fdd1ea02f2f8d007fac75d9b369d3962.pdf
Ethereum wallet: 0x4B925090D566b8860ea107E97eb3180B574651a7
Bitcointalk Account: ScoutRange520
Facebook: https://www.facebook.com/BBODTrading
Twitter: https://twitter.com/BBODTrading
Telegram User Account: @MOSTAFIZUR01
Linkedin: https://www.linkedin.com/company/bbod