CHALLENGES OF CURRENT CRYPTOCURRENCY EXCHANGES-DIGITAL TICKS EXCHANGE
Blockchains are safe by design and are an example of a distributed computing system with high fault tolerance. Decentralized consensus has therefore been achieved with a blockchain. This makes blockchains potentially suitable for the recording of events, medical records, and other records management activities, such as identity management, transaction processing, documenting provenance, food traceability or voting.
Offers Delivered by Blockchain Technology
- Clearness and conviction
- Devolution
- Immutability
- High availability
- Cost saving
- Faster dealing
- Peer-to-peer global transactions
Problems Faced By the Current Crypto Currency Exchange
- Lack of Liquidity Lack of liquidity is a concern for all the traders in the market as it increases the impact cost / cost of investment while trading and makes it difficult for them to trade. This majorly happens because not many people are buying and selling assets on the exchange thereby creating a thin depth in the market. Digital Ticks Exchange would have dedicated market makers who would provide continous depth and liquidity in the market. Digital Ticks Exchange team has a decade of market making experience in global financial derivatives market.
- Inefficient customer service Currently customer service is posing a major problem to the trader community. Delivery of customer service is very slow, they don’t even respond to queries for days, long withdrawal times, login issues and funds locked into the exchange with nobody to guide for the same. When dealing with such large amount of funds it becomes essential to have a team of professionals to solve customer queries. Digital Ticks Exchange team understands the trader mindset where every nano-second of trading is important. To cater to the same Digital Ticks Exchange team has built up a dedicated customer service oriented team who would be ready to solve the queries of the trader on the go.
- Security Crypto currency Exchanges that carry customer’s funds in huge volume have become a target for hackers and internal frauds. These security concerns make deposits into these exchanges unsecured. Digital Ticks Exchange team ensures that the security system will undergo continuous improvement, regular IT security and financial audits. Digital Ticks Exchange team would perform vulnerability scans & assessments, security assessments and penetration testing.
- Latency Problem Increase in new registrations, sudden spike in volumes, inappropriate infrastructure, unstable connection quality and exchanges reaching its limits in terms of order per second results into latency problems. Digital Ticks Exchange team has over a decade of trading experience and understands the price volatility in crypto world. If their is a slight delay in the update of price then a trader can face heavy losses. For the same Digital Ticks Exchange team would provide robust technology in place and is committed to upgrade the same from time to time.
- Downtime Shutdown of exchange without any information can cause huge financial losses to traders who cannot place or modify their orders especially when market is highly volatile. Users trading come to a halt and they cannot withdraw their own fund from the exchange which results into loss of trust on the exchanges. Digital Ticks Exchange team would perform scheduled maintenance by updating their registered users in advance.
DIGITAL TICKS EXCHANGE (DTx)
- Features – (To be rolled out on platform in following order)
• Crypto- Crypto Currency Pair
• Commodity- Crypto Pair
• Spot Trading
• Futures
• Algorithms & High Frequency trading
• Decentralized (on-chain) exchange
• Much more for ease of doing trading… - Trading Coins / Commodities Digital Ticks Exchange would support following trading coins / commodities:
• BTC
• ETH
• LTC
• NEO
• DTx
• GOLD
• SILVER
More trading pairs would be added over a period of time as per the demand of the trading community. If you wish to list a coin or any other financial instrument on Digital Ticks Exchange in future, participation in token sale will help.
source(https//www.digitalticks.com/pdfs/Digitalticks_whitepaper.pdf)
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Author: Rastafarian
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