Let's be honest, when you hear of BitMax the first thought that comes to your mind is probably that it's just an enterprise that enables individuals to trade crypto for other assets.
Sure, to that point you'd be correct, but the same way classifying the apple watch as just a watch is a big crime to technology, classifying BitMax as JUST a digital asset exchange is big crime too but not just inside the blockosphere but also against the trading in general.
(By the way blockosphere is short for - blockchain sphere - I just coined a term, nice!)
But seriously, I’ve been all about BitMax lately and they've been up to a lot of stuff too.
They announced their trading platform that not only allows anyone to easily trade with Bitcoin and Ethereum, Ziliqa, Libra, Litecoin, Tether, Bitcoin Cash, SEELE, Linfinity, Iostoken, OneLedger and other popular tokens.
They also announced Transaction mining as way to reward to users that actively trade or participate on the BitMax platform. All these steps go hand in hand with their philosophies on transparency and collaboration.
But I’ve been digging a bit further as to what makes BitMax so revolutionary and trust me their incentive program isn't the only cool card they have up their sleeve.
The tech that makes every process, every user's point of interaction so simple and seamless are actually very cool and complicated.
After all they say simplicity is the ultimate sophistication.
First feel free to check out the company's transaction mining offering here. Don't forget to participate and start earning some BTMX utility tokens for yourself.
Architecture that's fine-tuned for performance.
Low trade volumes are one of the biggest disadvantages of decentralized exchanges, but with real-time settlements, BitMax can not only change this, but it can also dispel notions that decentralized exchanges have lower liquidity as compared to CCEs.
One of the biggest reasons behind this is what the company refers to as institutional-level trading architecture.
Sounds like a mouthful, but basically, it's this
(Please note that the company hasn't divulged any details as to how their algorithms will actually work, my views are based on market trends and other technological factors that i feel make sense in this occasion).*
A system's architecture provides a foundation where the application components that content the expected functions of the system are defined, employed and finally deployed.
It doesn’t just stop there, to build a great system/architecture, the system needs to find the perfect balance between its functional requirements and its non-functional requirements (These are the protocols that measure the quality of the system).
Without the right balance, chaos would occur. You can't have a system that makes excellent selections but doesn't work in tandem with the platforms anti-fraud systems.
If what i assume is true, then BitMax's system architecture checks all the boxes that will allow it to not only get precise information but also define the right trading order, because first it allows for the perfect extraction and manipulation of market data in both its structured form (reliable sources) and in their unstructured form (say from social media mentions).
BitMax's architecture is also fully also capable of coming up with strategies that will come up with new trading rules. This system is also able to analyse different assets against current trading strategies to accurately determine with assets or cryptos to buy. We have the company's real-time messaging framework to thank for this.
This together with the fact that BitMax is completely decentralized allows for what is i call - blockchain's version of the STP trading environment, which gets rid of all third-party intervention to guarantee 100% transparency in all prices, coin rates and market data.
But all this is useless if all the user’s data and coin particulars land in the hands of hackers. Which is why BitMax has employed all the necessary security protocols to ensure all the users' information is safe. By 'all' i mean, multi-level firewalls for real-time data processing, i mean multi-signature protocols, i mean implementation of hot and cold wallet solutions.
In conclusion.
I could rant all day! But let me just end this post with this. You might be missing out on the next big thing if you read this post and don’t at least click through to their website for more information. Find linked below, some useful URL's that will get you started on your journey below, feel free to jump straight to the one you prefer best.
Useful links for you.
Company Website
Official Whitepaper
Follow BitMax on Twitter
Join over 11,000 other members on BitMax’s Telegram
Wir sehen uns.
Thank you for reading.
This Blog by
Rhinoboy11
Steemit
Medium
Facebook
BitcoinTalk
Bitcoin Username: @Sammygye
If you like my blogs and would like to see others like this one. Please follow me on steemit and my other channels.
Don't forget to leave me a like, comment, clap, upvote and follow. Any or all of this gestures will be highly appreciated.
All the sentiments presented in this post are based off personal opinions and thus shouldn't be misconstrued as investment advice.
Part of the Article Group