Bitcoin Forum

What is Abacas?

AbacasXchange is the first universal asset exchange that allows you to the trade, exchange or transfer of any asset. Typically, it takes a minimum of 3 and as many as 5 fees to trade one asset for another. In contrast, Abacas allows you to exchange AAPL stock for BTC in 1 transaction. This reduces your trading costs by 50% or more. AbacasXchange stands for fair financial markets and is ethical towards its investors.

We envision a world where you can pay for any purchase using any asset in your wallet. Imagine making your next purchase with Gold, GOOG stock or EUR — whatever your vendor accepts and whatever you wish to use. The first step towards this objective is to build the Xchange. Without it, the vision is not achievable.

What are the problems with existing Exchanges and Markets?

 • Multiple transactions and fees - it would take you 3 transactions and fees to exchange AAPL stock for BTC  
 • Both traditional and cryptocurrency exchanges are fraught with conflict and scandals.
   Examples would be  LIBOR Scandal, WM FIXING Scandal, MTGOX, Neo & Bee, Bitfinex, etc.
 • Accidental loss of your cryptocurrency/ asset - If you lose your private key, there’s no way to recover your funds.
 • More in this article - https://medium.com/@AbacasXchange/the-role-of-exchanges-why-the-abacasxchange-70df810ca2cc

How does AbacasXchange solve the existing problems?

• Only 1 transaction (minimum fee) - With Abacas you can buy BTC using AAPL stock in 1 transaction. It’s that simple.
• Transparent - All transactions are posted on a public ledger and can be viewed by anyone.
• Liquidity - If I want to sell 1000 GOOG, I can decide to receive some GLD or MSFT or BT or EUR or USD or ABCS or BTC. (Infinite supply)
• Asset Safety - The AbacasXchange “safety deposit box” provides a decentralized secure backup for your private keys.

Why can't another currency or cryptocurrency be used as a native payment token? For example, USD or ETH.

 Imagine a typical transaction in which a client wishes to trade from a mosaic on XEM to an ERC20 token via the exchange. That single transaction may require 8 or 10 “partner chain” validations eg PoA (Proof of Asset), AML/KYC, Value Transfers, custodial validations, regulatory validations subject to asset class – each of these chains and suppliers may have a different pricing models based on their service or asset which means that a client would need to hold many 100s of currencies at any time. This is highly inefficient and impractical. The ABCS readily conveys between all of the chains mitigating the cost and nuisance of the micropayments as it relates to the activity in the AbacasXchange.

Team - AbacasXchange?

More than 100 years of collective experience and intellectual property in technology and financial markets.
1. A team that understands the markets — asset classes, regulations and delivery
2. A team that understands Exchanges — Price Discovery, Order Management, Execution & Settlement
3. A team that understands Blockchain — decentralization and distributed services
4. A team that understands how assets will evolve from dematerialized to blockchain-based

Find all team members on the website - Team Section - Abacas Website (https://token.abacasexchange.com/?utm_source=bitcointalk)
Follow team members on LinkedIn
 

Abacas Foundation

Mark VanRoon (Founder, Principal, Head of Product Development)
Vincent Small (Co-Founder, Principal, Head of Technology)

Official Resources

Abacas Website (https://token.abacasexchange.com/?utm_source=bitcointalk)
Abacas Blog (https://medium.com/@AbacasXchange)
Abacas Twitter  (https://twitter.com/AbacasXchange)
Abacas Facebook (https://www.facebook.com/AbacasXchange-174858729748558/)
Abacas Telegram (https://t.me/ABACASXCHANGE_ABCS)
Abacas LinkedIn (https://www.linkedin.com/company/25021378/)
Abacas Reddit (https://www.reddit.com/r/AbacasXchange/)

Resources for developers

GitHub (https://github.com/abacasXchange)
Technical Documents (https://abacasexchange.com/technology-overview/?utm_source=bitcointalk)

How to get involved?

Become an active community member and help promote Abacas. Message the moderators or join us on Telegram to get in touch with questions, feedback or ideas.

Getting started

Bounty Campaign at https://bounty0x.io/ - search for AbacasXchange
Abacas FAQ (https://abacasexchange.com/faqs/)

Hi everyone! Just added Abacas ICO to my website https://concourseq.io/Q/AbacasXchange. ConcourseQ is a collaborative due diligence community that researches and reviews ICOs. Anyone with an account can submit information to your page, so we are reaching out to this community to get you all involved in the discussion. Thanks! PS: If you have any questions about filling in the info, feel free to ask us in our discord group: https://discord.gg/j8RBAwB

reserved
 ;D ;D ;D

Thank you for adding it. We will submit information there soon.  ;)

Where is pool for mining?

What kind of assets are you referring here? Can you be more specific?
Digital assets? Physical assets are complicated.
Needs documentation and other things.
But your advantage is that you've been working on this one for quite a while now.
So it's not a 5-min ANN preparation.

All Assets - Physical and Digital. It is true that it's complicated but we want to do it in the best way possible.
This article shows how it would work -> https://medium.com/@AbacasXchange/abacasxchange-how-it-works-2fe6aaec5641

It has been 3 years of hard work so you are totally right.
The bitcointalk will be updated with more text and links the next few days.
If you have any other questions, feel free to join our Telegram @ABACASXCHANGE_ABCS

 

Quietly potential :o I'll take note of that

Yes, there's potential and we are still quiet. The best-kept secret in Blockchain. :)
This will change once we start our marketing activities.

Thank you for including Abacas in the app.

It looks like a fascinating project, And tell me please? What languages will the project support?

I assume you are talking about the product that will be launched after the ICO.
Initially, it will support only English and then more and more languages will be included.

I would like to know more about the team who are behind this because no profile links are available to get more details.

Hello, we have updated the website. Now you can find the team members and their respective LinkedIn profiles.
 
Just go to https://token.abacasexchange.com/ (https://token.abacasexchange.com/) -> Click "Team" and you will find them.

Seems very interesting project! found a review with detailed information about the project from here as well -https://icostream.org/ico/abacasxchange/

What do you think about it? should they give out more information?

AbacasXchange is a universal exchange that allows you to trade, exchange or transfer Any Asset Anywhere Anytime.
This is a new platform, what services are offered to its users?

The platform will continue to evolve. Our end vision is to be able to pay for any purchase using any asset in your pocket.

There will be mainly trading services in the beginning. For example, you will be able to trade AAPL stock for BTC in 1 transaction.
Later there will be options such "Fulfilled by Abacas". This means listing your own asset on the exchange.

Reach out to us in Telegram and we can provide even more details:
https://t.me/ABACASXCHANGE_ABCS
 

cryptocurrency to select up huge adoption, within the long-standing time, a range of use cases and price propositions is critical  Smiley

it is necessary to note the uniqueness of the chosen industry of Abacas. Currently, the project has no analogues of the appropriate scale. The project in the alpha version is already in high demand as I see and will provide investors with a high income. As I see A convenient interface, 24-hour support service, a wide range of partners will attract interested owners of gold assets to the project. The decentralized blockchain platform also provides better protection to its users from the theft of digital assets and high transaction speed.

I like new coins and new projects like this. I will refer to this project. Thank you!

The AbacasXchange platform is similar to any other exchange but uses a pricing system that offers significant benefits by demonstrating direct access to its customers. In addition, it has assisted many traders in listing, buying, selling or exchanging their properties globally.

To be able to reduce the cost of trading until 50% is surely amazing.
Lately the amount of fee that we need to pay is really big, especially when we need to move our assets to one and another exchange or wallet.
That can be a pain just to pay the fee for it.

A provisional solution, which investors are forced to use, requires depositing fiat money in smaller cryptocurrency exchanges. Such transactions are often subject to high fees and unfavourable exchange rates.

With ABCS, two or more clients can exchange assets of any type in direct transactions; for example, a client can purchase “equity” directly using “gold” in a single transaction

The project is very interesting. I am very impressed with the management of the project. I will take part in

Great news. You, guys, are great. You have an interesting project, one of a few which have MVP