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This project is on ice - ANN didn't gather the traction I would have expected and I'm pivoting the tech towards a hybrid + decentralized model interacting with frameworks like OT or Ethereum. Will repost when I have something to demo to you guys!
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Hi, I'm currently building a next gen alt exchange and seeking investment to take it beyond prototype phase. The following is a take on the current market and a proposal to deliver an exchange that solves a lot of the pain points currently experienced by traders, casual or otherwise. I welcome all ideas, constructive criticism and the best features suggested will definitely make it into the exchange once it's live!
As of January 2014, the alt market market is inefficient, the exchanges poorly put together. The opportunities for arbitrage are thwarted by rate limited APIs and buggy implementations. As a casual trader myself, and I’ve experienced first hand the ’nginx 502 errors’, invalid balances and general downtimes experienced on cryptsy, bter and the like.
Furthermore, algo traders are simply not present on the alt market as no major alt exchange provides APIs fast or reliable enough to support HFT. Without arbitrage or futures, it’s no wonder we’re experiencing volatility in both the BTC and alt markets.
I’m currently developing an alt exchange that would solve many of the issues currently experienced by traders. Having led the development of enterprise-scale, high frequency transactional platforms in the past, I’ve had personal, hands on experience in scaling high TPS retailer systems in ’always on’ environments. LI profile is linked at the bottom of this post.
The alt exchange I’m currently building is unique in a number of distinguishing, unique ways. But first and foremost its most defining attribute is its ‘real time’ nature, usually reserved to professional traders willing to fork out thousands to gain access to private com lines and dedicated trading stations.
The way I resolved this issue is by ‘pushing’ data to traders rather than forcing them to pull it. No longer do you need to enslave yourself to arbitrary ten second refresh timers or maniacally press ‘f5’ on your keyboard when trying to leverage a bullish market. My exchange proof of concept displays the order book as it stands in real time, to everyone participating. A new ask bid is displayed as it arrives on the exchange, complete with a full refresh of current price, order book depth and OHLC graph. For the tech crowd amongst you, it’s 100% data over the wire.
Furthermore, it:
- Supports most order types you would expect as a trader: market, limit, fill-or-kill, day, stop, and stop limits.
- Allows for HFT/algo trading - it welcomes automated traders as I believe that arbitrage between exchanges will bring stability to both BTC and alts.
- Has a free mobile companion app that leverages the same technology as the full site
- Supports sub 100ms graphing on all KPIs, free of charge.
- Support of all pairs and as they become available - I believe an efficient market will kill off the ‘clones’ that do not bring much value, and do not pass judgment on tech that might revolutionise crypto. PPC > XPM > LTC is a valid trade on this exchange.
- Full screen, single page access to all KPIs that matter to you. No longer will you have to open 3 tabs just to keep track of your partially filled orders. It’s all there in glorious full-page display, and responsively adapts to your screen size to displays as much information as your display will allow.
- Simplified trading interface to allow you to jump in at predefined % of the current coin value - leave your calculator in the drawer, the exchange is doing all the maths for you
- Bot friendly API, welcoming algo and HFT traders - enabling true arbitrage opportunity between exchanges
Icing on the cake, I’m not hiding behind a nickname - my identity is fully known, the exchange will operate completely transparently and will follow all regulations of the country in which its company is registered. My Linkedin profile is :
http://j.mp/stual.
Looking forward to hear everyone's thoughts!
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